The much celebrated SAIC report was performed in conjunction with company-saving financing from the so-called "whales". And in fact you could argue it was a requirement of that financing. And Rauber was made CEO at this same time. Specifically from this press release: http://www.sec.gov/Archives/edgar/data/1381105/000121390012002764/f8k051512ex99i_jbi.htm we have the quote below.
So the question becomes did Rauber and the "whales" know:
1) about the limitations of P2 and the fact that the SAIC audit window was really the maximum the machine was able to run before needing to be shutdown, cooled, cleaned out, and restarted? Obviously the average investor was left with the impression that those three days were just like any other and the machines could run for weeks. Why did the company keep that basic fact a secret until the latest CC?
2) that the company would have to pay for plastic like they finally admitted in their last 10K? John Bordynuik ran around for years touting free plastic and probably still would be if he was still CEO. Bottom line is the average investor was not informed of this very important fact until the 10K this year.
3) that the company was running negative margins in the P20 fuel business since 2011. The company intentionally obfuscated this important material fact by including cardboard recycling in their fuel numbers to actually make the negative margins look positive and artificially inflate revenue. That is how scam companies operate. And again the bottom line is the average investor had no clue the company was running negative margins with their fuel business until this year with the 10K.
Put simply, were the items above as big a surprise to the "whales" and Rauber himself as it was to average investors? Maybe his resignation answers that question? Now the question becomes what do the "whales" do?
I have to trust that John knows the guy and he is okay. We sure don't need another fishing trip like has been done. Go with a known person, IMO. What did he do to get on your bad side so much?
As to BOD, they will be hard pressed to get anyone to serve with the condition of the financials as they are.
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