Replies to post #262828 on Plastic2Oil Inc (PTOI)

[jaxstraw]

Quite a few here pointed out the Rock Tenn 'opportunity' was never much of one at all from the very beginning......that Bordynuik agreed to undertake just about all the risk and financial liabilities from the get go.....funny how they are proven right after months of being told ad nauseam it was a JV with NYSE RKT that validated P2O........LMFAO

Rock Tenn was under no obligation to participate in sharing costs.

"The RockTenn "opportunity" involved significant infra-structure and permitting costs with a company, RockTenn, that has not yet shown any willingness to participate in sharing those costs to implement the installation of JBI processors at their sites."

[retiredptt]

Perhaps the RockTenn and JBI press release dated August 10, 2011 "should not have yet been" released to the public. Many of us bought pricey shares after the below announcement.

"JBI, Inc. has entered into an agreement with Rock-Tenn Company to convert mill by-product waste into fuel using JBI’s Plastic2Oil™ technology. Under the agreement, Thorold, Ontario-based JBI has an exclusive license to build and operate Plastic2Oil processors at Rock-Tenn facilities.

RockTenn’s paper mills and MRFs currently produce thousands of tons of plastic per day. To handle the plastic waste stream, RockTenn has been storing this by-product in company-owned plastic-only monofill sites for several years. The agreement gives JBI the exclusive rights to mine plastic from these sites.

“We are honored that RockTenn has chosen JBI to be its long-term partner in this venture and believe this provides further validation that we have a viable commercial process to handle not only the critical issue of waste by-product but also rising energy costs,” said JBI’s Founder & CEO John Bordynuik. “RockTenn has the industrial relationship and feedstock to support hundreds of Plastic2Oil™ processors. We anticipate a mutually beneficial relationship for both parties and intend to expand as quickly as possible. RockTenn currently has sites that can support clusters of processors. In preparation for this agreement, we have designed our processors to be modular ‘plug and play’ to allow rapid deployment across RockTenn’s locations.”

Norcross-based Rock-Tenn’s paper mills and manufacturing recovery facilities produce thousands of tons of plastic per day, according to a release. To handle the plastic waste stream, Rock-Tenn has been storing this byproduct in company-owned, plastic-only monofill sites for several years. The agreement gives JBI the right to mine plastic from these sites."

[loanranger]

WOW!
So JBI signed an agreement in 2011 that says:
"JBI shall, prior to commencing construction, installation or operation of any improvements or the JBI Machines, obtain, at JBI’s own expense, all governmental approvals and permits as may be necessary to comply with applicable Laws."

and this:

"JBI shall, at its sole expense, supply, install and begin operation of:
(a) the JBI Machine as described in an Agreement Addendum;
(b) Each subsequent JBI Machine shall be installed in accordance with each Agreement Addendum; and
(c) Any other equipment, structure or other items described more particularly in each Agreement Addendum


....and almost three years later you're telling me that they can't comply with the terms of the agreement? When did they figure that out? When did YOU reach that conclusion? Does RockTenn know?

Al Sousa would get a real kick out of this. They did pretty much the exact same thing to him.


Shameful....but points for consistency.

[stocker11]

Wasn't RKT suppose to provide JBI with free plastic. Didn't an x-employee of RKT who was hired by Rauber sell tons of contaminated RKT plastic to JBI.