Replies to post #240424 on Plastic2Oil Inc (PTOI)

[User336447]

CONGRATS, that's awesome RECYCLING101! :)

I wish my entry was as timely as yours.

[buenokite]

Q2 was about old management. I've been unable to find a Q or K with cost of goods so high

Welcome to the world of pyrolysis. This is THE traditional problem with it and why it has not been commercially viable generally for decades. And with JBI this problem definitely existed prior to both Rauber and Bogolin if you read the 10Qs and 10Ks. Although it is hard to pull out because Bordynuik intentionally hid both revenue and gross margin behind cardboard recycling. He made negative margins look positive which gives you a glimpse into his character because that is obviously a typical OTC scam ploy used by scam artists.

There were numerous technical challenges to overcome and they appear to have resolved them

How can you make that claim? Give me one shred of proof! The PR for Q3 gallons produced was horrible if you tend to believe those 10Qs you claimed you read. Uptime is just one element of gallons produced and also requires throughput. Specifically, if you read the 10Qs and 10Ks closely you will discover processor #2 should have easily produced 60,000 of the 82,000 gallons claimed in the PR. And if the company was NOT a typical OTC scam why did they not just release the amount processor #3 produced knowing that is what investors are evaluating? Why not release costs to present the full picture? If you read the 10Qs closely you will see they have traditionally provided these half pictures for investors to come to the most wildly optimistic but sadly wrong conclusions. The company is full of those kind of deceptions I can point you to if you would like, just let me know!

My biggest concern was feedstock costs. Feedstock costs ballooned out of control under Mr. Bogolin. It’s clear to me that Mr Bogolin was removed and the costs are no longer a free for all.

Like I say read the 10Qs, the problem existed pre-Rauber and Bogolin. Although all good OTC scams need boogeymen. When Bordynuik was CEO he intentionally deceived investors by hiding the actual P20 results behind cardboard recycling like I said before. I guess that is real genius. Too bad MIT does not give out honorary degrees!!

I’ve witnessed a few situations when investors place middle level managers from a large company to manage a startup. Normally a ‘startup CEO’ with a good track record is selected for a job as critical as CEO. For the life of me, I can’t understand why Mr. Bogolin was put in this position. He had no skin in the game and no prior success.

Finding somebody to lead an OTC pyrolysis scam (there have been other pyrolysis scams, this is just the latest attempt) is not as easy as you think. Oddly some people actually consider the impact on their reputation and professional careers.

Finally with all this wonderful enthusiasm, any estimate on revenue and gross profit?? Most are avoiding that topic these days probably for good reason. It is easier to just randomly woot things are getting better without getting bogged down in reality.

[steelyeye]

Nice assessment... feed stock costs were my concern as well. I say they drop off a cliff now that we have Mr. Heddle in charge, have CRAYOLA as a partner, along with other unnamed suppliers of waste plastic.

[JBIIRULES]

Heddle Saves JBI 2.1 Million! Brilliant Move! New investors are taking notice as the news spreads across the globe.

NIAGARA FALLS, NY -- (Marketwired) -- 08/26/13 -- JBI, Inc. (the "Company" or "JBI") (OTCQB:JBII), a clean energy company that recycles waste plastic into liquid fuels, today announced continued actions to help significantly reduce costs as part of its ongoing goal to achieve cash flow positive results.
The Company plans to close operations at its recycling facility in Thorold, Ontario over the next several weeks, at which point all eight employees at the facility will be laid off. The Company's new executive team has decided to forego having a two stage plastic delivery process in favor of dealing with processor-ready plastics delivered directly to its fuel processing site in Niagara Falls, NY.
Based on operational data from the first six months of 2013, the Company estimates total annualized cost savings as a result of these measures to be approximately $800,000. In July, the Company announced additional cost reduction measures that it anticipated would result in annualized cost savings of approximately $1.3 million.
"Aggressively managing costs is a key component in positioning a company to eventually become cash flow positive. In keeping with the encouraging production data we've had to start the third quarter, these cuts were an important strategic move for us. We continue with the vision of procuring non-recycled streams of plastic that we can divert from landfill," stated JBI's Chief Executive Officer Richard Heddle.
JBI's Chief Financial Officer Nicholas Terranova stated, "We feel there is a great opportunity to reduce the cost of our fuel production, as a large portion of these costs have been associated with handling and preparing the plastic before it enters our processors in Niagara Falls. These measures are being taken to address these specific costs directly. Based on reviews of our cost of goods sold, we have realized that acquiring non-recycled, processor-ready plastic is the easiest way to continue having adequate feedstock at a desirable cost while streamlining our supply chain."
"A recent procurement partnership with a company that has been able to provide us with great plastic that is processor-ready makes us believe there is ample supply to be delivered directly to our site. Consistent delivery and consistent on-site fuel production make it simple and effective for us to manage procurement in this fashion, while making sure that we abide by all necessary guidelines in our permitting," stated company founder and Chief of Technology John Bordynuik.
http://www.nasdaq.com/press-release/jbi-inc-announces-continued-cost-reduction-measures-20130826-00599
http://finance.yahoo.com/news/jbi-inc-announces-continued-cost-183138035.html

[JBIIRULES]

Heddle Saves JBI 2.1 Million! Brilliant Move! New investors are taking notice as the news spreads across the globe.

NIAGARA FALLS, NY -- (Marketwired) -- 08/26/13 -- JBI, Inc. (the "Company" or "JBI") (OTCQB:JBII), a clean energy company that recycles waste plastic into liquid fuels, today announced continued actions to help significantly reduce costs as part of its ongoing goal to achieve cash flow positive results.
The Company plans to close operations at its recycling facility in Thorold, Ontario over the next several weeks, at which point all eight employees at the facility will be laid off. The Company's new executive team has decided to forego having a two stage plastic delivery process in favor of dealing with processor-ready plastics delivered directly to its fuel processing site in Niagara Falls, NY.
Based on operational data from the first six months of 2013, the Company estimates total annualized cost savings as a result of these measures to be approximately $800,000. In July, the Company announced additional cost reduction measures that it anticipated would result in annualized cost savings of approximately $1.3 million.
"Aggressively managing costs is a key component in positioning a company to eventually become cash flow positive. In keeping with the encouraging production data we've had to start the third quarter, these cuts were an important strategic move for us. We continue with the vision of procuring non-recycled streams of plastic that we can divert from landfill," stated JBI's Chief Executive Officer Richard Heddle.
JBI's Chief Financial Officer Nicholas Terranova stated, "We feel there is a great opportunity to reduce the cost of our fuel production, as a large portion of these costs have been associated with handling and preparing the plastic before it enters our processors in Niagara Falls. These measures are being taken to address these specific costs directly. Based on reviews of our cost of goods sold, we have realized that acquiring non-recycled, processor-ready plastic is the easiest way to continue having adequate feedstock at a desirable cost while streamlining our supply chain."
"A recent procurement partnership with a company that has been able to provide us with great plastic that is processor-ready makes us believe there is ample supply to be delivered directly to our site. Consistent delivery and consistent on-site fuel production make it simple and effective for us to manage procurement in this fashion, while making sure that we abide by all necessary guidelines in our permitting," stated company founder and Chief of Technology John Bordynuik.
http://www.nasdaq.com/press-release/jbi-inc-announces-continued-cost-reduction-measures-20130826-00599
http://finance.yahoo.com/news/jbi-inc-announces-continued-cost-183138035.html

[JBIIRULES]

Heddle Saves JBI 2.1 Million! Brilliant Move! New investors are taking notice as the news spreads across the globe.

NIAGARA FALLS, NY -- (Marketwired) -- 08/26/13 -- JBI, Inc. (the "Company" or "JBI") (OTCQB:JBII), a clean energy company that recycles waste plastic into liquid fuels, today announced continued actions to help significantly reduce costs as part of its ongoing goal to achieve cash flow positive results.
The Company plans to close operations at its recycling facility in Thorold, Ontario over the next several weeks, at which point all eight employees at the facility will be laid off. The Company's new executive team has decided to forego having a two stage plastic delivery process in favor of dealing with processor-ready plastics delivered directly to its fuel processing site in Niagara Falls, NY.
Based on operational data from the first six months of 2013, the Company estimates total annualized cost savings as a result of these measures to be approximately $800,000. In July, the Company announced additional cost reduction measures that it anticipated would result in annualized cost savings of approximately $1.3 million.
"Aggressively managing costs is a key component in positioning a company to eventually become cash flow positive. In keeping with the encouraging production data we've had to start the third quarter, these cuts were an important strategic move for us. We continue with the vision of procuring non-recycled streams of plastic that we can divert from landfill," stated JBI's Chief Executive Officer Richard Heddle.
JBI's Chief Financial Officer Nicholas Terranova stated, "We feel there is a great opportunity to reduce the cost of our fuel production, as a large portion of these costs have been associated with handling and preparing the plastic before it enters our processors in Niagara Falls. These measures are being taken to address these specific costs directly. Based on reviews of our cost of goods sold, we have realized that acquiring non-recycled, processor-ready plastic is the easiest way to continue having adequate feedstock at a desirable cost while streamlining our supply chain."
"A recent procurement partnership with a company that has been able to provide us with great plastic that is processor-ready makes us believe there is ample supply to be delivered directly to our site. Consistent delivery and consistent on-site fuel production make it simple and effective for us to manage procurement in this fashion, while making sure that we abide by all necessary guidelines in our permitting," stated company founder and Chief of Technology John Bordynuik.
http://www.nasdaq.com/press-release/jbi-inc-announces-continued-cost-reduction-measures-20130826-00599
http://finance.yahoo.com/news/jbi-inc-announces-continued-cost-183138035.html

[JBIIRULES]

Heddle Saves JBI 2.1 Million! Brilliant Move! New investors are taking notice as the news spreads across the globe.

NIAGARA FALLS, NY -- (Marketwired) -- 08/26/13 -- JBI, Inc. (the "Company" or "JBI") (OTCQB:JBII), a clean energy company that recycles waste plastic into liquid fuels, today announced continued actions to help significantly reduce costs as part of its ongoing goal to achieve cash flow positive results.
The Company plans to close operations at its recycling facility in Thorold, Ontario over the next several weeks, at which point all eight employees at the facility will be laid off. The Company's new executive team has decided to forego having a two stage plastic delivery process in favor of dealing with processor-ready plastics delivered directly to its fuel processing site in Niagara Falls, NY.
Based on operational data from the first six months of 2013, the Company estimates total annualized cost savings as a result of these measures to be approximately $800,000. In July, the Company announced additional cost reduction measures that it anticipated would result in annualized cost savings of approximately $1.3 million.
"Aggressively managing costs is a key component in positioning a company to eventually become cash flow positive. In keeping with the encouraging production data we've had to start the third quarter, these cuts were an important strategic move for us. We continue with the vision of procuring non-recycled streams of plastic that we can divert from landfill," stated JBI's Chief Executive Officer Richard Heddle.
JBI's Chief Financial Officer Nicholas Terranova stated, "We feel there is a great opportunity to reduce the cost of our fuel production, as a large portion of these costs have been associated with handling and preparing the plastic before it enters our processors in Niagara Falls. These measures are being taken to address these specific costs directly. Based on reviews of our cost of goods sold, we have realized that acquiring non-recycled, processor-ready plastic is the easiest way to continue having adequate feedstock at a desirable cost while streamlining our supply chain."
"A recent procurement partnership with a company that has been able to provide us with great plastic that is processor-ready makes us believe there is ample supply to be delivered directly to our site. Consistent delivery and consistent on-site fuel production make it simple and effective for us to manage procurement in this fashion, while making sure that we abide by all necessary guidelines in our permitting," stated company founder and Chief of Technology John Bordynuik.
http://www.nasdaq.com/press-release/jbi-inc-announces-continued-cost-reduction-measures-20130826-00599
http://finance.yahoo.com/news/jbi-inc-announces-continued-cost-183138035.html

[JBIIRULES]

New investors are taking notice as the news spreads across the globe!!!

Heddle Saves JBI 2.1 Million! Brilliant Move!

Quote recycling
I like the new management as they are significant shareholders and have experience growing a company. The news today turned me into an investor. I have decided to make an investment in JBI.


NIAGARA FALLS, NY -- (Marketwired) -- 08/26/13 -- JBI, Inc. (the "Company" or "JBI") (OTCQB:JBII), a clean energy company that recycles waste plastic into liquid fuels, today announced continued actions to help significantly reduce costs as part of its ongoing goal to achieve cash flow positive results.
The Company plans to close operations at its recycling facility in Thorold, Ontario over the next several weeks, at which point all eight employees at the facility will be laid off. The Company's new executive team has decided to forego having a two stage plastic delivery process in favor of dealing with processor-ready plastics delivered directly to its fuel processing site in Niagara Falls, NY.
Based on operational data from the first six months of 2013, the Company estimates total annualized cost savings as a result of these measures to be approximately $800,000. In July, the Company announced additional cost reduction measures that it anticipated would result in annualized cost savings of approximately $1.3 million.
"Aggressively managing costs is a key component in positioning a company to eventually become cash flow positive. In keeping with the encouraging production data we've had to start the third quarter, these cuts were an important strategic move for us. We continue with the vision of procuring non-recycled streams of plastic that we can divert from landfill," stated JBI's Chief Executive Officer Richard Heddle.
JBI's Chief Financial Officer Nicholas Terranova stated, "We feel there is a great opportunity to reduce the cost of our fuel production, as a large portion of these costs have been associated with handling and preparing the plastic before it enters our processors in Niagara Falls. These measures are being taken to address these specific costs directly. Based on reviews of our cost of goods sold, we have realized that acquiring non-recycled, processor-ready plastic is the easiest way to continue having adequate feedstock at a desirable cost while streamlining our supply chain."
"A recent procurement partnership with a company that has been able to provide us with great plastic that is processor-ready makes us believe there is ample supply to be delivered directly to our site. Consistent delivery and consistent on-site fuel production make it simple and effective for us to manage procurement in this fashion, while making sure that we abide by all necessary guidelines in our permitting," stated company founder and Chief of Technology John Bordynuik.
http://www.nasdaq.com/press-release/jbi-inc-announces-continued-cost-reduction-measures-20130826-00599
http://finance.yahoo.com/news/jbi-inc-announces-continued-cost-183138035.html