Replies to post #216730 on Plastic2Oil Inc (PTOI)

[Commando911]

As always, Johnik, your EXPERT opinions are always appreciated.

[WATERLOOO]

really excellent post from a certified legal expert---a breath of fresh air---kudos!

[Rawnoc]

Genius post, as usual! To add to it:

SEC policy in every single settlement since 1972....good grief. It's meaningless.

"...effected by the S.E.C. in 1972 was the requirement that a defendant who agreed to a consent judgment “without admitting or denying the allegations of the Complaint” nevertheless agree that the defendant would not thereafter publicly deny the allegations. To this end, each of the proposed Consent Judgments now presented to this Court is accompanied by a formal written “Consent” of the defendant agreeing, pursuant to 17 C.F.R § 205.5, “not to take any action or to make or permit to be made any public statement denying, directly or indirectly, any allegation in the complaint or creating the impression that the complaint is without factual basis.”

http://www.theconglomerate.org/2011/12/is-it-unconsititutional-to-neither-admit-nor-deny-guilt.html

More from that link:

"...defendants neither admitted nor denied the allegations...desired by the defendants because it meant that their agreement to the S.E.C.‘s settlements would not have collateral estoppel consequences for parallel private civil actions"

R.I.P. other suits. Maybe you can get beg for some lawyer fees from JBII's D&O insurance, but get in line behind us.

[arvitar]

Good grief. Even the least savvy of penny stock gamblers can connect the dots:


1) The SEC alleged that JBI and Bordynuik are guilty of SECURITIES FRAUD and ACCOUNTING FRAUD.

2) The SEC demanded CIVIL PENALTIES, OFFICER and DIRECTOR BANS, and DISGORGEMENT.

3) JBI and Bordynuik caved in rather than going to court, giving the SEC two out of the three things they sought.

4) JBI and Bordynuik are not allowed to deny their guilt.


5) An independent Certified Fraud Examiner shares the opinion of the SEC, that JBI and Bordynuik are guilty of fraud:


"INFLATING THE BASIS OF ASSETS ACQUIRED IN NONCASH TRANSACTIONS

There are many methods of inflating the basis of an asset. One category of transaction especially prone to this treatment involves assets acquired in non- cash transactions.

U.S. GAAP for these transactions is found in ASC 845. Nonmonetary Transactions.

In general, the accounting for nonmonetary transactions is based on the fair values of the assets (or services) involved, similar to monetary transactions. Accordingly, the initial basis of a nonmonetary asset acquired in exchange for another nonmonetary asset is the fair value of the asset surrendered to obtain it. A gain or loss may be recognized in connection with the exchange. The fair value of the asset received should be used to measure the cost only if it is more clearly evident than the fair value of the asset surrendered.

In some cases, such as the one involving JBI Inc., described next, the asset received is in the form of barter credits. These barter credits can be used to purchase goods or services, such as advertising time, from either the barter entity or members of its barter exchange network.

In reporting the exchange of a nonmonetary asset for barter credits, it is presumed that the fair value of the nonmonetary asset exchanged is more clearly evident than the fair value of the barter credits received and that the barter credits should be reported at the fair value of the nonmonetary asset exchanged.

This presumption can only be overcome if an entity can convert the barter credits into cash in the near term. There should be evidence of this right, such as a historical practice of converting barter credits into cash shortly after receipt. Alternatively, if independent quoted market prices exist for items to be received upon exchange of the barter credits, this could also overcome the p resumption that the credits should be valued based on the value of asset surrendered. It also is to be presumed that the fair value of the nonmonetary asset does not exceed its carrying amount unless there is persuasive evidence supporting a higher value.

Similar to the impairment criteria described in other chapters, an impairment loss on the barter credits must be recognized if it subsequently becomes apparent that either of the following conditions exists:

1. The fair value of any remaining barter credits is less than the carrying amount.
2. It is probable that the entity will not use all of the remaining barter credits.

In 2012, JBI, Inc. was charged with an accounting fraud stemming from its purchase of "media credits' comprised of prepaid print and radio advertisements to be used for future marketing activities. The media credits purportedly had a value of $9,997,134. However, the agreed upon price for the credits was $1 million, payable in the form of 1,000,000 shares of common stock valued at $1 million (a $1.00 per share market price) on August 24, 2009, by JBI (then known as 310 Holdings).

Instead of reporting the purchased media credits at the purchase price of $1 million, JBI recorded an asset of $9,997,134 (with the credit side of the entry going to additional paid -in capital). This inflated the assets and net worth of JBI substantially. The company reported assets of $24.1 million and stockholders' equity of $22.9 million as of December 31, 2009.

The $9.997.134 valuation was not entirely without basis. It could be traced to a transaction between the original acquirer (who sold them to JBI) and a company called Media4Equity LLC in August 2008. However, according to the SEC's complaint, this original valuation was "severely flawed.' And under no circumstances, even if the valuation was proper, was there any basis for recording the credits on JBI’s books at $9,997.134 when the consideration paid reflected 'the perceived value of the media credits at the time of the transaction.'

In addition, the SEC alleged that the media credits were actually worthless and should, after being initially recorded at $1 million, have been subsequently remeasured to zero on September 30 and December 31. 2009. The SEC based this conclusion on "the unreliability of the probable future economic benefits attributable to the media credits."

The motive behind this scheme was to "use JBI and its valuation as a vehicle for acquisitions.' according to the SEC. In fact, when JBI restated its 2009 financial statements, the removal of the media credits was just one (albeit the largest) of several adjustments that were made. Among the other adjustments were two related to reallocating the purchase prices of two subsidiaries - discussed further in Chapter 11.

JBI was primarily a technology company, focusing on data restoration and recovery, and it had several large clients, like NASA. However, its founder, John Bordynuik, became involved in the research and development of a process designed to convert plastic waste into oil. This process was called '"Plastic20il" or "P20." It is this process, and the need for capital to pursue the process that really motivated Bordynuik to engage in financial reporting fraud.

As a result of JBI's inflated financial statements, more than $8.4 million was raised from investors. Soon after raising these funds, JBI announced it would be restating its 2009 financial statements.

But the story leading up to the restatement is even more interesting. JBI hired an accountant who was not a certified public accountant, and in fact only had six credit hours of accounting classes, to prepare its financial statements using the $10 million inflated figure for the media credits. According to the SEC complaint, at one point Bordynuik sent an instant message to the accountant stating, "please get the pro formas as juicy as you can so I can acquire a chemical company for less.' a reference to JBI's plans to use the inflated financial statements as a means of acquiring other companies needed to pursue the Plastic20il venture. In this case, 'pro formas' is a reference to unaudited financial statements that would be presented to (and designed to deceive) investors.

IFRS for nonmonetary transactions is found in two standards. In IAS 18, Revenue, it is stated that revenue should be measured at the fair value of the consideration received or receivable. However, there is an important caveat. When goods or services are exchanged or swapped for other goods or services of a similar nature and value, the exchange is not regarded as a transaction that generates revenue.

When goods are sold or services are rendered in exchange for dissimilar goods or services, the exchange is considered to be a transaction that generates revenue. The revenue is measured at the fair value of the goods or services received, adjusted by the amount of any cash or cash equivalents transferred. When the fair value of the goods or services received cannot be measured reliably, the revenue is measured at the fair value of the goods or services given up, adjusted by the amount of any cash or cash equivalents transferred.

IFRS also includes SIC-31. Revenue –Barter Transact ions Involving Advertising Services. And this document takes the opposite approach from IAS 18.

In some cases, an entity may enter into a barter transaction to provide advertising services in exchange for receiving advertising services from a customer. This may involve printed advertising, radio or television advertising, Internet advertising, or any other form. SIC-31 states that revenue from a barter transaction involving advertising cannot be measured reliably at the fair value of advertising services received. However, a seller can reliably measure revenue at the fair value of the advertising services it provides in a barter transaction, by reference only to nonbarter transactions that:

• Involve advertising similar to the advertising in the barter transaction
• Occur frequently
• Represent a predominant number of transactions and amount when compared to all transactions to provide advertising that is similar to the advertising in the barter transaction
• Involve cash and/or another form of consideration that has a reliably measurable fair value (such as marketable securities)
• Do not involve the same counterparty as in the barter transaction

While IAS 18 and SIC-31 frame their explanations in the context of revenue recognition, the logic would be similar for measuring the value of an asset conferred (such as advertising benefits not yet received) to an entity in a barter transaction. "

from Financial Statement Fraud: Strategies for Detection and Investigation by Gerard M. Zack, 2012



It's not as if anyone on the planet believes that JBI and Bordynuik did not willfully defraud investors, just because JBI and Bordynuik settled out of court.

[loanranger]

I've addressed your belated concerns, but before I link you to the explanations I'd like to point out the introductory words of my post, which you chose to ignore:

"Of course it's fraud.

The company reflected an asset in their financial statements at a value of $10,000,000 which they acquired for shares having a value of $1,000,000 and which the company itself admitted in a public filing 6 months later was totally worthless.
The company used those financial statements as part of the documentation provided to participants in two funding efforts.....Private Investments in the Public Equities of the company.


That's fraud."

That's the real meat of this mess.....without those fraudulent acts the only topics of conversation for the last 20 months would have been JBI's operational inadequacies. You really shouldn't ignore them. I'm sure if there was an argument to suggest that those acts were somehow made out of a benign innocence you would have tried to make it.



Ok, now that we've skipped past the important stuff, let me catch you up on things that have been explained previously:

"Where in the proposed order is there a finding that fraud occurred?"
A couple of places.
In JB's case the Judge MUST find that a violation of the Misleading and Deceptive Practices (aka fraud) section of the code occurred in order to impose an officer and director ban...indeed it is cited in the settlement. See the last three paragraphs of this post, the final one of which says:
"15 USC § 78j - Manipulative and deceptive devices
It shall be unlawful for any person, directly or indirectly, by the use of any means or instrumentality of interstate commerce or of the mails, or of any facility of any national securities exchange—
(b) To use or employ, in connection with the purchase or sale of any security registered on a national securities exchange or any security not so registered, or any securities-based swap agreement [1] any manipulative or deceptive device or contrivance in contravention of such rules and regulations as the Commission may prescribe as necessary or appropriate in the public interest or for the protection of investors."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=83844268

In the case of JBI itself, the proposed judgment says:
" VI.IT IS HEREBY FURTHER ORDERED, ADJUDGED AND DECREED that Defendant is liable for a civil penalty in the amount of $150,000 civil penalty pursuant to Section 20(d) of the Securities Act [15 U.S.C. § 77(t)(d)] and Section 21(d)(3) of the Exchange Act [15 U.S.C. §78u(d)(3)]."
I welcome your review of 15 U.S.C. §78u(d)(3) and ask you to explain how the above civil penalty could possibly be assessed by the judge without a finding of fraud. Please be specific. Here's the link:
http://www.law.cornell.edu/uscode/text/15/78u



The following statement from my post was literally incorrect but conceptually sound....there was no attempt to be deceptive on my part, nor was there any need to be. I did not used the mistake to peddle millions of dollars worth of stock nor do I suspect that the bogeyman sold shares short as a result of the mistake in the hope that it would send the share price tumbling. Viewed in the context of the statement I was responding to it is a distinction without a difference....Do you really believe that the commission drafted the settlement with the mindset that the defendants didn't act fraudulently after making the quoted statement in the Complaint?

I wrote: The commission has already passed judgment on a settlement that says "Defendants engaged in a scheme to commit securities and accounting fraud by stating materially false and inaccurate financial information on the financial statements of JBI, Inc. for two reporting periods during 2009."

That quote is indeed from the Complaint and not the proposed settlement. Yes, it was the Complaint that included the above wording and not the settlement. However, the defendants have already agreed:
"(i) not to take any action or to make or permit to be made any public statement denying, directly or indirectly, any allegation in the complaint or creating the impression that the complaint is without factual basis; and (ii) that upon the filing of this Consent, Defendant hereby withdraws any papers filed in this action to the extent that they deny any allegation in the complaint. If Defendant breaches this agreement, the Commission may petition the Court to vacate the Final Judgment and restore this action to its active docket."

Assuming that the proposed judgments are signed (the consents already have been), the defendants have agreed not to make or permit any public statement denying the allegations of the complaint and agreed to withdraw the denials included in their answers to the complaint.



(Note that my original post on this issue clearly indicated that "The complaint says:" in reference to the above:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=85120862 )

[fourkids_9pets]

very nice post .. kudos

==
4kids
all jmo

[Zardiw]

EXCELLENT POST! ...It takes an atty to fully clear the smoke and mirrors from this subject............z

[Zardiw]

JBII Complete Summary DD. SAIC(NYSE): $10M/Yr/Processor!:

Latest Developments:

1-23-13. SEC Suit is SETTLED:

http://ih.advfn.com/p.php?pid=nmona&article=55963537

The lawsuit arises from the restatement of the Company's financial statements as of and for the periods ended September 30, 2009 and December 31, 2009. Under the proposed settlement, for which the SEC staff is seeking approval by the Court, the Company and Mr. Bordynuik would consent to the entry of orders enjoining them from future violations of certain provisions of the federal securities laws (including the antifraud, reporting and books and records provisions), and requiring the Company and Mr. Bordynuik to pay civil penalties of $150,000 and $110,000, respectively. The contemplated settlement does not require payment of "disgorgement" or other amounts. The proposed order against Mr. Bordynuik would include a five-year officer/director bar. Mr. Bordynuik stepped down from his officer and director positions with the Company in May 2012 and currently serves as its Chief of Technology, a non-officer position.

The Company notes that the Court has discretion regarding whether, and when, the proposed settlement will be approved and final judgments issued. The proposed settlement, if approved by the Court, would fully resolve the dispute with the SEC evidenced by the lawsuit filed in January 2012.

The Company's CEO, Kevin Rauber, stated: "This is a very positive development in the life of our company, and we are pleased that this matter has been resolved."

Madison County Signs Contract with JBII

CANASTOTA — ABC Farm took center stage Friday, becoming one of the first Madison County farms to champion the county landfill’s agricultural plastic recycling program.

“I see this as a real benefit to our landfill and the environment in general,” said owner/operator Rick Carrier of ABC Farm.

JBI in Niagara Falls converts the plastic into clean diesel fuels. An unnamed company in Auburn has started processing the materials into reusable, plywood substitutes.

“Our ultimate goal is to have a company like JBI set up a plant at the landfill,” said

Department of Solid Waste Director Jim Zecca. “Collecting ag plastic for recycling will help the environment, save space in our county landfill and also help to solve a long-standing problem for area farmers.”

The board approved the contract with JBI on Nov. 27, and started the collection program Dec. 16.

In addition to recycling ag plastics, the program will also process some rigid plastics brought into the facility such as old toys and broken laundry baskets.

“When you recycle, we’ve learned that you have to have a variety of markets,” Zecca said.

The Department of Solid Waste’s goal is to set up a regional facility for ag plastic recycling at the Madison County Landfill.

According to the Cornell Cooperative Extension, of the 2,800 tons of ag plastic disposed of per year

by dairy and beef farmers, only 80 tons comes from Madison County; a large chunk of the 630 tons of waste is produced annually by Central New York as a whole. ECT...

http://oneidadispatch.com/articles/2013/01/04/news/doc50e76d040f2dc283513082.txt

SAIC VALIDATION:



6-27-12: New COO and Full Time Attorney hired : http://plastic2oil.com/site/news-releases-master/2012/06/27/jbi-inc-expands-management-team-with-the-appointment-of-new-coo

5-15-12: $10M Financing. SAIC P2O Technology/Commerical Review: Link to Press Release

3-20-12: Discovery Channel Segment on JBII: http://watch.discoverychannel.ca/#clip641572

2-27-12: Processor #2 now On Line

THOROLD, Ontario, February 27, 2012 (GLOBE NEWSWIRE) – JBI, Inc. (the "Company") (OTCQB:JBII) is pleased to announce that in Q1 the Company has been successful in bringing its second Plastic2Oil® (“P2O”) processor (the “Processor No. 2”) online at the Niagara Falls, NY facility.

1-20-12: Viability of JBII Plastic2Oil ReConfirmed

THOROLD, Ontario, Jan. 20, 2012 (GLOBE NEWSWIRE) -- After completion of audit and peer reviews of the stack test conducted on December 5-6, 2011 by Conestoga-Rovers & Associates ("CRA") on its Plastic2Oil ("P2O") processor, JBI, Inc. (the "Company") (OTCQB:JBII.PK) has received the final emissions report from CRA. This report further validates the viability of the P2O process and allows the Company to apply to the New York Department of Environmental Conservation ("NYSDEC") for a modification to its Air Permit to run at significantly higher feedstock rates.

In December 2011, three separate stack tests were performed on the existing P2O processor with a pre-melt system. Only unwashed, unsorted waste plastics, including various industrial plastics (buckets & barrels, waste meat packaging, bags, etc.) and gas tanks from scrap cars, were used as feedstock for the test, consistent with the feedstock the processor is currently converting into ultra-clean, ultra-low sulphur fuel.

The three tests were conducted at feed rates of 3,258 lbs/hr, 3,233 lbs/hr and 3,932 lbs/hr, respectively. Ultimately, the test results proved that emissions decreased with increased feed rates. Emissions were considerably reduced through the addition of the pre-melt system (Q3) and more efficient and higher combustion of the off-gas generated by the P2O process.

Residue was not removed from the pre-melt reactor so that the internal walls could be examined. When the reactor was opened, the inside walls were remarkably clean. Two small "tumbleweeds" of clean dense bailing wire bunches were present from processing some paper mill ragger tail waste. Normally, residue and metals would be removed from the pre-melt periodically during operation.

The final report included particulate matter (PM) and hexane testing, both of which showed exceptionally low results.

Comparative emissions results from all of the stack tests performed on the Company's P2O processor were as follows:



"In-spec" end-user fuels produced (Fuel No. 6, Fuel No. 2, and Naphtha) were also tested and verified as ultra-low sulphur, consumer-ready fuel. The conversion ratio for waste plastic into fuel averaged 86%.

"This report is very exciting for the Company as it allows us to apply for a modified Air Permit from the NYSDEC which should enable us to effectively double the capacity of our P2O processor," notes John Bordynuik, CEO and President. "Increasing the feedstock supply rate to almost 4,000 lbs/hr will significantly increase the rate at which we are able to produce fuel from waste plastic."



1-9-12: 13 Investors put up $2.8M.

JBI, Inc. (the "Company") (OTCQB:JBII.PK) is pleased to announce that it closed agreements on January 6, 2012 for equity financing in the amount of US$2.795 million to build its Plastic2Oil ("P2O") technology.

Thirteen accredited individuals participated in this recent round of financing, which consisted of units purchased at $1.00 per unit. Each unit included a share of common stock and a warrant to purchase an additional one-half share at an exercise price of US$2.00 at any time for a period of 18 months.

"I think this is further validation of our business model by sophisticated investors who believe in the innovations and proprietary technology that JBI, Inc. has developed," commented John Bordynuik, CEO of the Company. "This financing will continue to support the operational build-out of our P2O processors at the Company's Niagara Falls facility and the initial site in our agreement with Rock-Tenn Company."

The Company believes that this new injection of capital will assist in increasing its production capacity more quickly in order to satisfy the recent fuel distribution agreements made with Indigo Energy Partners, LLC and XTR Energy Company Limited. It is yet another step in the development of the Company as it executes its vision of becoming a vertically integrated plastic recycling, fuel processing and fuel distribution company.

1-4-2012: Response to SEC Lawsuit:

JBI, Inc. (the "Company") (OTCQX:JBII) is profoundly disappointed by the erroneous allegations of fraud contained in the civil lawsuit filed by the Securities Exchange Commission ("SEC") earlier today. The Company regrets that its attempts to negotiate settlement of this dispute failed, and, in consultation with its litigation counsel and Board of Directors, looks forward to vigorously defending itself in court, where the Company believes it will prevail on the merits.

The allegations in the complaint concern legacy accounting issues that have since been corrected. Among other things, since restating its financial statements, the Company has hired a new chief financial officer and engaged additional experienced accounting staff as well as a reputable independent audit firm.

Contrary to the allegations made by the SEC, the Company believes that its officers acted in good faith in valuing the media credits discussed in the complaint, based on the information available at the time. The Company further maintains that after learning of potential problems relating to these credits, it took appropriate steps in compliance with its obligations to shareholders and the public markets at large.

JBI, Inc. is acutely aware of its responsibility to its shareholders and values the trust shareholders put in the Company. The defense of this lawsuit will further demonstrate the Company's commitment to transparency and ethical business practices.

The Company is proud of its recent successes and will continue to focus on building out its business growth plan with its corporate partners

12-29-2011: Progress and Key Milestones of 2011 by John Bordynuik, CEO:

As 2011 comes to a close, John Bordynuik, Founder and CEO of JBI, Inc. (the "Company") (OTCQX:JBII), offers a recap of the Company's progress and key milestones over the past 12 months.

"It's been an exciting year for the Company," states Bordynuik. "We've taken significant steps forward and on many levels have out-paced traditional industry timelines -- and it has been a team effort." He continues, "The successes we've seen in 2011 have involved many months of extensive testing, third party analysis and validation, and corporate due diligence. We are proud of our accomplishments and are confident about our growth moving into the next fiscal year."

In May 2011, JBI, Inc. announced its first sale of fuel produced by the Company's patent-pending Plastic2Oil(R) ("P2O") process. Shortly thereafter, Coco Asphalt Engineering, a division of Coco Paving, Inc., entered into a Supply and Service Agreement for the Company's ultra-clean, ultra-low sulphur fuel.

June 2011 brought more good news. "On June 17, 2011, we cleared a significant hurdle when the New York State Department of Environmental Conservation ("NYSDEC") issued a permit to JBI, Inc. to operate 3 separate P2O processors at our Niagara Falls facility," comments Bordynuik. "At the same time the NYSDEC also issued a Solid Waste Permit which allowed us to store plastic feedstock materials on-site."

During the summer months of 2011, the Company continued to make enhancements to its P2O processor, giving it the ability to produce specific fuel types to meet the needs of its customers. Bordynuik continues, "This paid huge dividends later in the year when new customers with diverse fuel requirements came onboard."

In July, the Securities and Exchange Commission ("SEC") issued a Wells Notice to the Company in relation to its legacy accounting issues from 2009. "The Company is acutely aware of its responsibilities to its shareholders," states Bordynuik. "As part of our internal corrective actions, we hired a highly respected auditor, an American Certified Public Accountant Controller, and retained the services of another highly ranked auditing firm and numerous financial consultants to advise the Company and assist in preparations of the 10Q and 10K filings. Most recently, we welcomed our new CFO, Matthew Ingham, CPA. Matthew will lead our financial reporting and will continue the improvements which began with the amending of the 2009 10K filing."

The highlight of summer 2011 was the signing of a 10-year exclusive agreement with Rock-Tenn Company (RockTenn) to convert mill by-product waste into fuel using the Company's P2O technology. "The significance of this agreement is impressive as it provides a solution to waste plastic challenges," notes Bordynuik. "And JBI, Inc. will have access to free feedstock supplies for our P2O processors, which we will locate on RockTenn sites."

The fall months of 2011 were spent enhancing the P2O processor in preparation for the final NYSDEC stack test scheduled for December. Upgrades included the installation of low NOx burners and the addition of a pre-melt system to increase through-put volumes. The Company worked with third party fabricators to produce standardized reactors and towers and has received the assembled modules.

"December 2011 has been busy, to say the least," Bordynuik states with a bit of grin. "We kicked off the month by completing the final stack test required by the NYSDEC. It was a very exciting day -- the emissions from the second stack test were found to be cleaner than the first test in August 2010, even with close to double the quantity of waste plastic through-put, while maintaining an 86.7% conversion rate to liquid fuel."

This success was quickly followed by the news of an Air Permit exemption in the state where the first RockTenn P2O site will be located, reducing the lead time for roll-out of the RockTenn agreement in that state.

The year came to a close with the signing of two major fuel supply agreements, the first with Indigo Energy Partners, LLC ("Indigo Energy") for the Company's No. 6 Fuel Oil and the second with XTR Energy Company Limited ("XTR Energy") for road transport fuels. The XTR Energy agreement will require the Company to purchase third party fuels to blend with its P2O fuel output until it can build out the capacity to meet the full quantities required by the customer.

"The beauty of the agreement with RockTenn, in combination with the fuel supply agreements with Indigo Energy and XTR Energy, is that we will be free to focus solely on the manufacturing of additional P2O processors as we move into 2012," says Bordynuik. "It's a huge step forward in achieving our vision of becoming a vertically integrated plastic recycling, fuel processing and fuel distribution company."

12-23-11: JBI Inc. Signs Multi-Year 'Transport Fuel' Take-Off Agreement With XTR Energy

THOROLD, Ontario, Dec. 23, 2011 (GLOBE NEWSWIRE) -- JBI, Inc. (the "Company") (OTCQX:JBII) is pleased to announce today the signing of a multi-year transport fuel supply agreement with XTR Energy Company Limited ("XTR Energy").

XTR Energy is one of the largest and fastest growing independent retail petroleum brands for regular and premium gasoline and diesel products in Canada. XTR Energy focuses on well-priced products, timely deliveries and innovative customer retention programs. This focus has enabled XTR Energy to establish network locations in Ontario, Nova Scotia, New Brunswick, P.E.I., Manitoba and Saskatchewan.

XTR Energy will be purchasing Regular Transport Gasoline, Premium Transport Gasoline, Diesel Ultra LS Clear and other acceptable road transport products from JBI, Inc. These products are the fuel output of JBI, Inc.'s Plastic2Oil(R) ("P2O") process, which will then be blended and made available through the Company's Blending Site in Thorold, Ontario ("Thorold Terminal").

"XTR Energy looks forward to acquiring products from JBI, Inc. in Ontario and across Canada. This new relationship is directly aligned with XTR Energy's strategic objective to have a diversified secure supply of quality petroleum products from a variety of sources to meet the growing demands of the XTR Energy network and preferred customers," stated Ken Wootton, President of XTR Energy, upon signing the agreement.

"We were attracted to XTR Energy because of their corporate values and distribution reach across much of Canada," commented John Bordynuik, CEO of JBI, Inc. "They are committed to green alternatives, high operational standards and maintaining long-term winning relationships with both their customers and suppliers."

The agreement with XTR Energy is a step forward in achieving the Company's vision of becoming a vertically integrated plastic recycling, fuel processing and fuel distribution company. It allows the Company to utilize the value of one of its key assets, the Thorold Terminal, a registered and licensed TSSA fuel blending and distribution facility with fuel storage capacity in excess of 250,000 U.S. gallons.

12-21-11: JBI, Inc. Signs Long-Term Fuel Supply Agreement with Indigo Energy Partners, LLC

THOROLD, Ontario, December 21, 2011 (GLOBE NEWSWIRE) -- JBI, Inc. (the "Company") (OTCQX:JBII) is pleased to announce today the signing of a long-term fuel supply agreement with Indigo Energy Partners, LLC (“Indigo Energy”).

Indigo Energy is a service-driven, wholesale distributor of petroleum products and renewable fuels that utilizes an expansive network of distribution terminals and bulk plants across the continental United States.

Under the terms of the agreement, Indigo Energy will off-take No. 6 Fuel Oil, from the JBI, Inc. Plastic2Oil (“P2O”) facility in Niagara Falls, NY.

The timing of this agreement in the early stages of the Company’s growth allows it to focus singularly on increasing production and growing capacity, instead of the marketing and distribution of its fuel products.

“We are very impressed with JBI, Inc.’s proprietary technology and the quality of their fuel products,” stated Martin N. Underwood, Jr., COO of Indigo Energy. “Additionally,” continues Mr. Underwood, “We feel this partnership is a natural fit for both companies and we look forward to bringing JBI, Inc.’s products to market as they expand production capacity to future plants across the U.S.”

John Bordynuik, CEO and Founder of JBI, Inc., commented, “We are excited about this partnership on several levels. First of all, we are proud to be affiliated with a company with the profile of Indigo Energy; a company which believes that green fuels can make a significant contribution to supplying clean, reliable energy.”

“Secondly,” continues Mr. Bordynuik, “After securing plastic feedstock supplies and creating a commercially viable, ‘green’ process for transforming plastic into oil, this agreement fulfills the final stage of our business growth plan, the distribution of our ultra-clean, ultra-low sulphur fuel to end-users.”

12-19-11: New CFO Hired. Background : Ernst+Young, Price Waterhouse:

THOROLD, Ontario, Dec. 19, 2011 (GLOBE NEWSWIRE) -- JBI, Inc. (the "Company") (OTCQX:JBII) is pleased to announce the appointment of Matthew J. Ingham as the Company's Chief Financial Officer ("CFO").

As CFO, Mr. Ingham will report directly to CEO, John Bordynuik. He will be responsible for establishing the Company's financial strategies while ensuring the Company has the appropriate financial systems in place to manage current operations. He will lead the development of financial planning models and cost-benefit analysis to forecast and support future growth. Mr. Ingham will also be responsible for all financial filings required by the SEC, and will serve as a financial and business advisor to the leadership team.

"We are extremely pleased to welcome Matthew Ingham as our new Chief Financial Officer. Matthew brings the experience and skills the Company needs to support both our short and long term growth plans. Not only is he a seasoned auditor, but he possesses extensive experience managing a successful corporate finance division," states CEO, John Bordynuik, on the appointment of Mr. Ingham.

Prior to joining JBI, Inc., Mr. Ingham held, successively, senior positions with two of the "Big 4" audit firms, PriceWaterhouseCoopers LLP and Ernst & Young LLP, specializing in auditing assurance, financial reporting and transaction analysis, and developed a broad base of auditing and financial reporting skills through assignments on publicly traded and privately held companies.

At Ernst & Young, LLP Mr. Ingham held the position of Audit Manager, Assurance Advisory Business Services, working directly with firm partners and company executive management on audits to finalize findings and issue audit reports. He assisted with client implementation of first year compliance with the Sarbanes-Oxley Act for three SEC accelerated filers, including the coordination of international scoping and testing and participated in cross service line initiatives which included working on an internal audit engagement team to assist a new client in their first year Sarbanes-Oxley implementation.

Most recently, Mr. Ingham was Senior Manager, Technical Accounting, Insight Enterprises, Inc., a $4.8 billion international Fortune 500 information technology company. Reporting to Executive Management and Senior Financial Staff, his responsibilities included managing all communications with the external auditors, providing evaluations of technical accounting research and analysis matters. He led a global team of finance personnel in formalizing and documenting accounting policies and procedures, including working with multi-national teams on sales operations improvement initiatives.

12-15-11: JBI, Inc. Receives Air Permit Exemption

THOROLD, Ontario, December 15, 2011 (GLOBE NEWSWIRE) – JBI, Inc. (the "Company") (OTCQX: JBII) is pleased to announce it has received an exemption from air permitting by the environmental protection agency in the state where the initial Rock-Tenn Company (“RockTenn”) Plastic2Oil ® (“P2O”) site is being constructed.

Additionally, the Company will not require a Waste permit, because the plastic being processed is already located on-site.

“The extra time we took to make enhancements to our processor during Q2 and Q3 to maximize its efficiencies and reduce emissions is now starting to pay dividends as we expand into other states,” stated CEO John Bordynuik.

12-7-2-11: JBI, Inc. Successfully Completes Its Final P2O Stack Emissions Test

THOROLD, Ontario, Dec. 7, 2011 (GLOBE NEWSWIRE) -- JBI, Inc. (the "Company") (OTCQX:JBII.PK - News) announces the successful completion of its final P2O Stack Test performed by Conestoga-Rovers and Associates ("CRA") on the Company's Plastic2Oil ("P2O") commercial processor. The stack test, which is a measure of emissions from the processor vent, was conducted by CRA beginning on December 5, 2011, with completion on December 6, 2011. The New York Department of Environmental Conservation ("NYSDEC") was also present during testing.

Three stack tests were performed on the existing commercial processor with a pre-melt system. Unwashed, unsorted waste plastics, including various industrial plastics and gas tanks from scrap cars, were used as feedstock for the testing. This type of feedstock is consistent with the day-to-day waste plastic that the processor is currently converting into fuel.

The stack tests were conducted at feed rates of 3,258 lbs/hr, 3,233 lbs/hr and 3,932 lbs/hour (Edit: This calculates to 281 Barrels/day) respectively. Ultimately, the test results proved that emissions decreased with increased feed rates, further validating that P2O is a highly "green," clean and scalable process. The addition of the pre-melt system, which was designed and installed in Q3, greatly improved feed rates for the process.

Draft emissions data was provided by CRA staff following the completion of each test. Emissions were significantly reduced through more efficient and higher combustion of the off-gas generated by the process.

Final average emissions for 3,923 lbs/hr were 15.97% O2, 3.05% CO2, 3.1ppm (parts per million) CO, 15.1 ppm NOx, 2.88 ppm TNMHC and 0.02ppm of SO2. The NOx emission was approximately one-fifth that of the original P2O processor tested 1 year ago.

The P2O processor did not have any stack filters or scrubbers.

"In-spec" end-user fuels produced were also tested and verified as ultra-low sulphur.

Management anticipates receiving final reports from CRA after audit and peer reviews of the testing are concluded. These reports and permit modifications, which allow a higher feed rate, will be filed in accordance with NYSDEC permit regulations.

The Company believes that the successful stack test results will aid significantly when seeking permit exemptions in other U.S. states. Additionally, the Company believes that these results will contribute to maximizing production at the existing New York processing plant.

11-16-2011. Plastic2Oil at NYSAR3 Conference: 11-16/17-11.



JBI, Inc. took part in the 22nd Annual New York State Recycling Conference and Trade Show in Cooperstown, NY on November 17, 2011.

The conference’s successful turnout drew corporations, academic institutions, municipalities and government agencies from across the state. Members from the New York State Department of Environmental Conservation (NYSDEC) and Empire State Development (ESD) were in attendance at this year’s conference and vendor participants included leading waste management companies, such as Rock-Tenn and Covanta Energy.

John Bordynuik, President & CEO of JBI, Inc., was among the elite three-person panel presenting on innovative recycling solutions. He was joined by delegates from Lubo USA and Axion International.

“At the annual NYSAR3 recycling conference, John Bordynuik presented an impressive solution to the problem of what to do with unmarketable plastic left over when the recyclable plastics are sorted out,” commented James Gilbert, Environmental Project Developer/Manager – Plastics Recycling Specialist at Empire State Development. “We are excited about the ability of Plastic2Oil to refine these unrecyclable plastics into useful fuels. Being able to process ag films and waste industrial plastic is also significant. The company’s goals of stimulating the local economy and strengthening communities go hand-in-hand with ESD’s own mission of promoting business investment and growth that leads to job creation and prosperous communities across New York State.”

Bordynuik’s presentation created considerable interest from municipal waste companies. In particular, these companies expressed interest in partnering with neighboring counties and JBI, Inc. to resolve local waste plastic challenges.

Public and private industry representatives also had the opportunity to meet Bordynuik as well as members of his team at the company’s vendor booth, and to learn more about the pioneering Plastic2Oil technology.

The conference was sponsored by the New York State Association for Reduction, Reuse & Recycling (NYSAR3) and the NYSDEC. For more information about NYSAR3 & this year’s conference, please visit www.nysar3.org/.

10-20-2011. Air and Waste Management Association toured the JBII Production Plant on Thursday 10-20-11.

JBI, Inc. hosted a tour of the Plastic2Oil facility in Niagara Falls, NY for the Niagara Frontier Section of the
Air and Waste Management Association (A&WMA-NFS) on Thursday, October 20, 2011. Following the tour, the group met for dinner
and a presentation by JBI, Inc.

A&WMA-NFS is a non-profit organization for individuals involved in the environmental profession and consists of
approximately 200 independent and corporate members from the Western New York area. http://www.awmanfs.org/

The event at JBI, Inc. attracted both local and international A&WMA members with a diverse representation from NYSDEC,
local and global waste management, and local and global environmental consulting. "The group was very excited
about today's event,” commented Bruce Wattle, an International member and Co-Chair of the A&WMA-NFS.
“It was a rare opportunity to tour a plant where a new environmental technology is in operation, as well as attend a talk by the CEO."

CEO John Bordynuik commented: “It's an honor to present to a group of people like the A&WMA-NFS members who are scientists, engineers
and business professionals all with a vested interest in the environment."

Full Story: http://www.plastic2oil.com/site/events/1214/

10-9-2011: CEO John Bordynuik speaks at Buffalo TEDx:

8-4-11: RockTenn(NYSE:RKT) Supplies Plastic to JBII:



On July 29, 2011, JBI, Inc. (“JBI” or the “Company”) and RockTenn Company (“RockTenn”) entered into a Master Revenue Sharing Agreement (the ‘Agreement”) for a ten (10) year term with an automatic 5 year renewal term.

In accordance with the terms and provisions of the Agreement, JBI has an exclusive 10-year license to the following:

1. Build and operate Plastic2Oil processors at RockTenn facilities.
2. Process RockTenn's waste plastic from paper mills and material recovery facilities (MRF).
3. Mine and process plastic feedstock from plastic-filled monofill sites.
4. Monofill sites contain years of waste plastic from mills.
5. Waste plastic from RockTenn facilities exceeds thousands of tons per day.

8-22-2011: General Motors Automaker Supplies Plastic to JBII:



After a full review, General Motors is also now providing free waste plastic to our P2O facility.

7-22-11: Chrysler Automaker Supplies Plastic to JBII:



Waste plastic from Chrysler Canada’s Brampton Assembly Plant is helping to keep neighboring factories running instead of eating up precious landfill space.
JBI, an Ontario-based company, has developed technology that converts waste plastic to fuel ranging from heating oil to diesel.
“Because plastic is made from the same hydrocarbons that make regular fuel, we can make and blend what we want,” CEO John Bordynuik tells Ward’s. “It can also be used to make plastic again.”

http://WardsAuto.com

7-5-11: Scientific American (The Wall Street Journal of Science) picks up on JBII



http://www.scientificamerican.com/article.cfm?id=plastic2oil-converts-waste-plastic-2011-07

6-14-11: JBII Gets PERMITS:



6-13-11. JBII 8K: More Fuel Sales!:

Pursuant to the Agreement, the Company has agreed to supply Coco Asphalt on a weekly, per demand basis with petroleum distillate at a cost of $109.80 per barrel.

http://knobias.10kwizard.com/filing.php?param=&ipage=7665730&DSEQ=1&SEQ=&SQDESC=SECTION_BODY&exp=


6-11-11. JBII AGM was awesome:

Link to detailed info: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64164756&txt2find=JBII

5-26-2011: JBII was a Tour Destination hosted by Canadian Plastics Industry Association (CPIA) on Thursday, May 26, 2011.


Stocker11 Report on the Event:

There were about 5 dignitaries cutting the ribbon with JB. I hope the entire event will be on the JBI website as it was obvious that the speakers were extremely excited at the prospect of being involved with JBI in the State of New York.
There were about 40 who came from the plastic convention. They all appeared mesmerized by John’s presentation. They had a number of questions that, when answered, appeared to remove any doubts about the technology.

Great day for JBI.


Local TV Station WIVB Report:

Local TV Station CHCH Report:

Buffalo, NY TV Station YNN Report:

Tour of Recycling & Waste Recovery Facilities, Niagara Falls Region:

Visit # 3: A pilot plant showcasing an emerging technology that converts residual plastic waste into fuels.

JBI, Inc. (Plastics to Oil plant), 20 Iroquois Street, Niagara Falls, NY, USA

JBI converts plastics-to-fuel and natural gas, ensuring that the embedded energy in residual plastics is managed and conserved
as an important and useful resource, rather than treated as a disposable waste. JBI’s fully automated process vaporizes plastics and
cracks their hydrocarbon chains using a proprietary catalyst. The New York Department of Environmental Conservation (NYDEC)
has recently granted the plant a consent order to operate commercially.

http://www.plastics.ca/home/events/recyandwasettour.php

5-9-2011: JBII First Fuel Sales to Occidental Petroleum (NYSE:OXY)!:


JBI, Inc. (the "Company" or "JBII") (OTCQX:JBII) announced today that Oxy Vinyl Canada, a wholly owned subsidiary of Occidental Petroleum (NYSE:OXY),
has agreed to purchase JBI's low sulphur heating oil for $109.80 per barrel. Low sulphur heating oil is a product of our Plastic2Oil™ process.
Under the terms of the agreement, the first order of approximately 214 barrels of low sulphur heating oil is expected to be delivered this week.

http://www.oxy.com/Pages/Home.aspx

http://finance.yahoo.com/news/JBI-Inc-to-Supply-Oxy-Vinyl-pz-404707702.html?x=0&.v=1

5-2-2011: JBII Enters into Referral Agreement With Smurfit-Stone. (Now a part of of Rock-Tenn) (NYSE: RKT):


Rock-Tenn is a multi billion dollar company: http://www.rocktenn.com/

Smurfit-Stone clients to be referred to JBII and JBII will install processors at their facilities.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7897367

4-27-11: JBII CEO on BNN 'The Pitch'. High Points:

. $587K/processor
. $2-3M RD costs
. Being innundated with requests to bolt down machines at high waste plastic feed sources
. Process is Green. Emissions less than a gas furnace.
. Filing prospectus with TSX next week
. Filing 5 patents on the process.
. Upgraded to an accounting firm that can file both Canadian and US.
. Agreements gone through legal with a large cardboard recycler that generates a huge amount of plastic. 30 Tons/day.
. Make spec fuel. Comes out of the machine that way. Directly to commodity price.
. Sales this week.
. Filling tankers now.
. Revenues Q2.

4-20-11: 10K Released. Interesting excerpt found by Steady_T:

"It is possible that industrial partners may wish to provide financing for the construction and other costs associated with building and operating a P2O processor."

Translation.....If you want one any time soon, finance it for us. That way you can start saving money a lot sooner.

Very nice way to obtain capital.

4-20-11: 8K/PR Released. Excerpts:

The Company notes that on March 16, 2011 it signed a non-binding letter of intent with a potential customer for the purchase of the naphtha produced from the Company's Plastic2Oil process. At this time, a definitive fuel supply agreement is being negotiated

Additionally, on April 14, 2011, after much discussion and exchanges of drafts, the Company received what management believes is a final referral agreement with a large company that has a significant number of material recycling facilities and high volume waste plastic streams.

Additionally, JBI has been negotiating Joint Venture agreements with both the aforementioned company and one of its customers. These companies have sent in excess of 141,640 lbs of waste plastic to date. This plastic was processed and evaluated for qualitative and quantitative analytical data. Over the last few months, JBI has met with executives and representatives from these Companies at their respective locations and our Plastic2Oil factory.

The contemplated structure of a Joint Venture with JBI is:

· JBI will build and operate a Plastic2Oil processor at the source of the plastic waste.

· JBI will receive plastic waste at no cost.

· JBI will share in the revenue from the sale of fuel generated by the machine, 80% / 20% (JBI receives 80%).

· As JBI staff will operate the process, JBI will assume all risks.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7870575

4-13-11:

JBII attended and John Bordynuik gave a presentation at the Air and Waste Management Association Seminar on April 13. Among the attendees
were Waste Management Inc, Conestoga-Rovers &Associates, and URS.



Report from the Conference. Thank you Justice!:

The presentation was well received and you were right, no material information was disclosed.

I have a few notes I want to share as there was some new information. Another company has tested the fuel, the Alberta Research Council. They are the Gold Standard in Canada when it comes to testing fuel. Guess what, just like we have been told all along, JBI produces light naphtha (pure unblended gasoline) and diesel #2. There is one difference, the fuel is even cleaner now. Previously the sulfur content was 8 parts per million, it now has 0.5 parts per million (500 parts per billion) and no sediment or water content. The ratio of diesel and gasoline is 70% and 30% (and yes the fuel is separated during the P2O process). John is still reporting that the fuel is produced for less than $10 a barrel.

One of the questions after the presentation was if a car used the JBI fuel would it void the warranty. The answer was JBI fuel would absolutely not void a warranty, the fuel is no different than what you would get from a refinery. It started out as fuel and is converted back into fuel.

John was asked about how much a recycling facility would save if they had a P2O processor and the answer was that some large facilities send 170 tons of plastic to landfill per day. Smaller facilities send 120 tons per day.

Now I figure that for a large recycling facility, if JBI only processes half that amount, just to be extremely and overly conservative, using the average tipping fees in the states as a base, $43 per ton, a large facility saves $3655 a day in tipping fees and that does not include transportation costs. Taken to a five day work week, it's just under a million dollars a year, again this does not include transportation costs (truck, fuel, driver).

The JBI staff at the presentation were extremely upbeat and enthusiastic about what has been happening recently and look forward to when they can let us know what all the new developments are.


Letter of Intent for 144,000 Gallons/Week

The company has signed a letter of intent with a confidential party for the purchase of 144,000 gallons of naphtha per week.
Naptha is produced from the Company's Plastic2Oil process and is the technical term for gasoline without the additives that pump gas has.
The sales agreement is expected to be signed in April, 2011.

Extensive improvements have been made to the P2O processor:

Since receiving the Consent Order, JBI has simplified the configuration of the Plastic2Oil process using modular racking.
The modular racks are prewired and plumbed, and constructed as complete units to simplify installations and reduce costs at remote sites.
Also since receiving the Consent Order, our Plastic2Oil process has been extensively and successfully stress tested to ensure its operational integrity
in preparation for operations at remote sites.

2 IHub Shareholders (Brigg and Rawnoc) recently visited the facility and reported their observations and thoughts.
Their reports verify that there is an unending supply of waste plastic available, that the machine is running non stop,
that employee morale is extremely high, and the quality of the output is everything the company has said it is.
In short, both of them are impressed to the nth degree.

Brigg has also tested the gasoline which came straight from the P2O processor. Results: Ran in a lawnmower like a champ!

Extensive DD and Information: http://www.jbiglobal.blogspot.com/

JBII just fired Ernst and Young for apparently not giving the company the attention that was expected:

we performed only limited audit planning procedures during this period and we did not report on any financial statements of the Company.

Yours truly,

/s/ Ernst & Young LLP

The company has hired MSCM LLP, auditors that will give JBII a higher priority in addressing their needs:

MSCM, LLP has differentiated themselves for JBI by offering a responsive, partner-led audit team that has proven to us practical and timely client services.
MSCM, LLP also has the international proficiency to meet the needs of JBI's future growth. MSCM Web Site: http://www.mscm.ca/

1. Commercial Production has been approved by the NY DEC. (Only time in history a company has been given commercial production
approval while other permits are pending).

2. The process has been proven to work by at least 3 independent firms.

3. Two NY Senators have endorsed P2O.

4. Each processor will generate 100+ Barrels of fuel daily.

5. 2 more processors are being built.

6. JBII owns an operational Fuel Blending Facility with a storage capacity of 250,000 gallons.

7. Company just signed a 20 year lease on A waste management recycling facility with 1,000 Ton/Day capacity.

8. Colin Robbins recently appointed as Sr. Vice President:
Mr. Robbins brings more than 30 years of knowledge and expertise in operations, marketing, and manufacturing of renewable fuels to this key post.
He specializes in the blending of ethanol, bio-diesel, butane, and petroleum. He has been engaged in the petroleum and bio-fuels industry
in a leadership capacity since 1989 with experience extending across North America--but he is most passionate about
producing a profitable, environmentally responsible energy product.

9. Waste Management Inc. is currently doing an audit on the process.


Feast your eyes on this 3 minute clip:

JBII: It's Raining Diesel:

Just listen to the excitement in their voices!

JBII Fuel Output from 20 Ton Production Processor:

Best JBII Video. Peek at P2O Sight Glass:

Free Plastic Stockpiled and ready for Processing:



Firing up the lawnmower with JBII gasoline! From Techisbest:

My unrehearsed video:

This lawnmower has not been run this season. The smoke you see when I first fire it up is from it sitting idle. Note that the longer it runs the cleaner it runs.

The jar used is the one on the left in this pic:

Fuel Ouput:



EMail to Techisbest:

Nice to hear your lawnmower ran well with the fuel tapped directly off our gasoline condenser.

Our gasoline is no different than highly refined gasoline from a refinery. Our gasoline is different than gas found at the pump because we do not inject the additives and low cost cutting agents (butane injection), aromatics, and other additives to artificially inflate the octane thereby reducing the amount of high-cost gasoline. Many additives are injected in pure gasoline to increase the margin on gasoline at the pump. Our fuel was tested in a new engine long ago and the spark plug, head, valve seats and valves were inspected. There was no carbon build up, pitting, burns, or oxidation on those parts. We were quite impressed by how cleanly it burned.

Regards,

John Bordynuik


Validation:


Plastic2Oil Why Us

We are a domestic alternative fuel company that developed, scaled, enhanced, and commercialized a process that converts difficult-to-recycle waste plastics into separated, refined fuels. We have successfully overcome significant barriers in this field, namely:

* Our process accepts mixed waste plastics.
* Our process is continuous, 20T/day and small (less than 1000 sqft)
* Residue is removed automatically without shutdown.
* The product is refined and separated fuels without the high cost of a distillation tower.
* Our equipment is not susceptible to costly pinhole leaks.
* Our process operates at atmospheric pressure.
* Our process is permitted to use its off-gas as fuel (8% of feedstock) therefore conversion costs are very low: 67kWh electricity for motors, and pumps, and approx. $7/hr for natural gas top up (if required).
* Significant labs have validated our technology: IsleChem (process), CRA (Stack Test), Intertek and Petrolabs (fuel testing), and a rigorous permit process with the NYSDEC (NY State).
* Our emissions are less than a natural gas furnace. We are not required to monitor our emissions or install scrubbers.
* Fuel additives are injected inline while the fuel is produced.
* We have significant downstream technology to ensure fuel quality control.




z

[Krazy K]

Thank you for clearing that up for the board!