June 5th, 2009 - To the shareholders of 310 Holdings Inc:
I, John Bordynuik, have recently acquired 63% of 310 Holdings Inc (TRTN).
I will not affect a reverse stock split of TRTN. I will not reverse merge another company into TRTN.
TRTN will be in a state of transition. I expect this to occur over the next month as I hire engineers, staff, move resources, and acquire a building for TRTN. TRTN will acquire assets, technologies and companies that have great value and would be profitable if they weren't so severely overleveraged with debt, excessive staff, and other draining systems. TRTN will also monetize IP that I presently own, or IP gained from mining old data. I have a significant reputation in the magnetic media and data migration industry which I believe will benefit the shareholders of 310 Holdings Inc. I also have an excellent working relationship with NASA and many other organizations which will positively affect the integrity and opportunities of this company.
In early April I participated in Harvard's Corporate Restructuring, Mergers, and Acquisitions - Creating Value in Turbulent Times. I have a new network of acquaintances who share my business views and have offered assistance. There are many opportunities in the US and I will focus our efforts in sectors that my staff and I have experience in.
As always, my primary focus is to maximize shareholder value. This can be best executed with the right new technology, assets, and talent. Regards,
John Bordynuik President and CEO 310 Holdings Inc. 289-668-7222 john*310holdings.com
z
[ November 02, 2009, 14:23: Message edited by: Bob Frey ]
-------------------- Faster horses, yw, ow, mm. Posts: 233 | From: Palm Springs, Ca | Registered: Sep 2003
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310 Holdings Inc. Enters Into Definitive Asset Purchase Agreement With John Bordynuik Inc.
NIAGARA FALLS, Ontario, June 25, 2009 (GLOBE NEWSWIRE) -- 310 Holdings Inc. (OTCBB:TRTN) today announced that it has entered into a definitive agreement to purchase certain assets of John Bordynuik Inc., including all of its intellectual property, its custom tape processing hardware, its Swahili data migration system, fixed assets, and its current customer base subject to certain closing conditions and adjustments. The consideration for the acquisition of the assets are restricted common shares of 310 Holdings Inc. equal to the value of the assets.
Provided all conditions to closing are met, 310 Holdings Inc. anticipates closing this Asset Purchase Agreement on or about July 15, 2009. This proposed transaction will affect 310 Holdings Inc. quarterly financial statements. Through the agreement, 310 Holdings Inc. is able to use the hardware to immediately service existing clients of John Bordynuik Inc. which includes processing thousands of tapes from NASA. In fact, John Bordynuik Inc. was awarded purchase orders to read tapes for NASA based on FAR 13.106(b)(1) "only one source reasonably available".
John Bordynuik Inc. designed specialized hardware and software to read old computer tapes from the 1960s to present. There exist millions of tapes of seismic and earth science data with invaluable information that is inaccessible without this technology.
310 Holdings Inc. will continue to charge a flat rate fee of $22 per tape for volume data recovery migration services. None of JBI's liabilities are being assumed by 310 Holdings Inc. The fixed assets are presently valued at approximately $500,000 after depreciation. This equipment includes in excess of 15 multi-core HP servers in a cloud configuration, dozens of HP workstations, a complete 40-foot mobile data recovery container loaded with 18 tape drives and JBI technologies to read tapes off-site; another 45 customized tape drives; and other related supporting assets.
In addition, there is approximately $1M in other related hardware and assets that the Company intends to purchase from John Bordynuik Inc. which are presently being inventoried and catalogued for the final purchase.
This is an arms-length agreement between 310 Holdings Inc. and John Bordynuik Inc. by President and CEO John Bordynuik, who is the majority shareholder in both 310 Holdings and John Bordynuik Inc. The sale is being audited and all relevant filings with adjusted balances will be filed in a timely manner after the Closing Date.
John Bordynuik, President and CEO of 310 Holdings Inc., said, "We expect the acquisition to have an immediate and significant impact on our financial results. This asset purchase will allow 310 Holdings to read tapes to realize the revenue of migrating data of customers' tapes at a flat rate of $22 a tape and then recycle the old tapes by using our Plastic2Oil processor. As we are currently paid by clients to recycle these tapes, this will effectively cause a negative feedstock cost into our Plastic2Oil processor. These old tapes weigh approximately 2 kg each with their plastic cover, and we believe we will be able to produce 2 liters of fuel from every recycled tape. Through this acquisition, we have approximately 50 tons of tapes to read, to migrate the data and to recycle in our Plastic2Oil processor, 20 tons immediately."
Management believes an 8k will be filed on or about Friday, June 26, 2009 detailing the purchase.
About 310 Holdings Inc.
John Bordynuik purchased 63% of the issued and outstanding shares of 310 Holdings on April 24, 2009. Subsequently, John Bordynuik was appointed President and CEO of the Company. Management has commenced operations with Plastic2Oil, a process and service that extracts fuel from plastic. 310 Holdings Inc. is incorporated in the State of Nevada and is publicly traded on the NASDAQ OTCBB under the symbol "TRTN".
CONTACT: 310 Holdings Inc. John Bordynuik, President and CEO +1 (289) 668-7222 john*310holdings.com Investor Relations Katie Matkowski +1 (289) 296-5538 Katie*310holdings.com
z
-------------------- Faster horses, yw, ow, mm. Posts: 233 | From: Palm Springs, Ca | Registered: Sep 2003
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1. CEO, John Bordynuik, is a very well respected scientist with ties to NASA, MIT, numerous Fortune 100 companies, United Nations, US Army. Website: http://JohnBordynuik.com .
2. Bordynuik has a very profitable private company that reads the 'unreadable', i.e. the over 50 million computer tapes from the early computer era (60's-80's). There is a wealth of information on those tapes, and he developed his own tape drives to read these degraded tapes.
3. He has a contract with NASA and gets paid $22 per tape to recover the data. They are processing about 700 tapes a day.
310 Holdings ===
In April, 2009, Bordynuik bought a public shell company, and moved most of the assets and production facilities from his private company into the public company. The public company now has a positive balance sheet, with revenues.
The company is fully reporting and compliant. Stock Symbol: TRTN
Share Structure: 53M OS, of which 40M Restricted is owned by Bordynuik. That leaves a float of only 13M shares.
The goal of the company is to move to the NASDAQ exchange within a few months. CEO will not consider FSing the stock until after it gets to NASDAQ, if then.
Plastic2Oil. ===
1. Existing machines are used in China, Thailand, Taiwan, etc to convert Plastic to oil.
2. Bordynuik discovered a catalyst that makes this process much more efficient.
3. After the data is recovered from these tapes (they weigh about 5 lbs each), they will be fed into the machine and converted back to the oil from which they came from in the first place.
4. The oil needs minimal refining, and will be sold into the diesel market. He already has buyers.
5. The whole process will be franchised across the country/world. The first franchise has already been bought.
6. The process will also recover oil from used tires.
7. Of course there is a huge amount of other waste plastic available to be converted to oil..
8. In larger metropolitan areas, the company will run it's own machines.
Bottom Line. ===
In 37 years of investing in stocks, I have never seen a more promising company. I am extremely excited about the prospects for TRTN. Even the symbol has a nice way to remember it (That's Right, Top Notch).
z
-------------------- Faster horses, yw, ow, mm. Posts: 233 | From: Palm Springs, Ca | Registered: Sep 2003
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1) The costs reflected in the pro forma financial are for the entire quarter. 2) We are profitable after 2 days of processing tapes. 3) The asset purchase was audited by James Gately.
We had the asset purchase audited to ensure everything was properly accounted for, because it was an arms-length transaction, and because there are so many scams on the OTC.
Regards,
John Bordynuik CEO 310 Holdings Inc
Collaborative Researcher Math and Computation Group Computer Science and Artificial Intelligence Laboratory Massachusetts Institute of Technology john*csail.mit.edu http://people.csail.mit.edu/john
z
-------------------- Faster horses, yw, ow, mm. Posts: 233 | From: Palm Springs, Ca | Registered: Sep 2003
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posted
Actual Screenshot of Data Recovery. From MIT website:
The screenshot above is from an MIT ITS 7-track tape. The data tracks 0-5 + Parity above are amplified, deskewed, and zoomed to emphasize the magnetic flux transitions. In this case, a flux transition represents a "1" and no transition represents a "0". The 8th trace is a timing waveform relative to tape speed. Since the circuitry and biasing/amplifiers have such a high SNR, the drive is able to detect a very weak bit -- in most cases, 1/10 the amplitude of a average bits amplitude.
z
-------------------- Faster horses, yw, ow, mm. Posts: 233 | From: Palm Springs, Ca | Registered: Sep 2003
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posted
NEWS: 310 Holdings Inc. is Opening a New Cambridge Tape Reading Facility
NIAGARA FALLS, Ontario, July 28, 2009 (GLOBE NEWSWIRE) -- 310 Holdings Inc. (OTCBB:TRTN - News) is pleased to announce the scheduled opening of their new tape-reading facility at 500 Technology Square, Suite 150, Cambridge, MA on August 3, 2009. This state-of-the-art site will be housing 18 tape drives employing the Company's latest generation of its proprietary, highly effective magnetic media reading technology. Each shift, run by just one staff member, can process 576 open reel tapes. These highly-automated drives can each read one tape every 15 minutes. Cartridge media will also be processed, further augmenting the Company's revenue stream. Management believes this site will be fully operational by the end of August.
John Bordynuik, 310 Holdings Inc. President and CEO commented, "We look for this division to be highly profitable, since we have an abundance of business and have already fully paid for the hardware. We will net about $22 per tape with a cost factor of approximately $1.50 for each one. The low cost at this facility is due to a number of factors including: highly automated technology, very low material handling involved, the drives are fully paid for, engineering is complete, and the cost of this facility is less than $150,000/year with very low step costs for additional shifts."
The Company will immediately begin to direct some tape processing to this new facility as well as process tapes that cannot be exported from the United States.
A detailed update on 310 Holdings' Plastic 2 Oil process will be announced soon.
About 310 Holdings Inc.
John Bordynuik purchased 63% of the issued and outstanding shares of 310 Holdings on April 23, 2009. Subsequently, John Bordynuik was appointed President and CEO of the Company.
On June 25, 2009, 310 Holdings Inc. announced a definitive agreement to acquire certain assets of John Bordynuik Inc., including all of its intellectual property, its custom tape processing hardware, its Swahili data migration system, fixed assets, and its current customer base subject to certain closing conditions and adjustments. Provided all conditions to closing are met, 310 Holdings Inc. anticipates closing this Asset Purchase Agreement on or about July 15, 2009.
Plastic2Oil benchtop machine (basic unit made in Japan by Blest) – we modified it to quickly test our catalyst in small quantities. We added a feeder (1kg, and a nitrogen purge (clear tube to machine). We load the feedstock (plastic) in the hopper and purge with nitrogen into the main tank (with our catalyst). The gas from the main tank then travels through a tube to a water tank. The water tank is a simple way to cool the gas and collect the oil (on the water). We can then test the water and the oil. There are 3 valves on the water tank. One to add water, one to takeoff the oil and there is a valve for C1-C4 (propane gas).
This simple lab unit allows us to test our catalyst in small quantities to get the best possible mix. Then we can scale it for the large processor. The original unit (as designed in Japan) does not use a catalyst and is highly inefficient (energy wise) so making oil without a catalyst is not profitable.
Our large volume processor uses a large 15MT tank with an agitator. It also does not use water “directly” to cool the gas – i.e.: water does not come into contact with the gas or fuel. In our large processor, we use industry standard condensers that are water cooled. The cooling water is isolated from the rest of the system and is recycled entirely. There is no effluent.
Gas Chromatograph: This is our gas chromatograph that we use to analyze the fuel (in house) to determine the proper and best mix of our catalyst.
z
-------------------- Faster horses, yw, ow, mm. Posts: 233 | From: Palm Springs, Ca | Registered: Sep 2003
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FYI, 1 Kilo of plastic was expected to take 4 hours to process. The actual time it takes is 15 minutes. 15 metric tons of plastic are expected to take less then 2 hours to process. Confidential data has been protected with John's hand
The chemical analysis will be released after the data has been confirmed by an independent lab. As is, and based on JBI's own analysis, the diesel extracted from plastic is more pure then the actual diesel.
The large stacks of tapes that are ready to process can be seen in the background.
z
-------------------- Faster horses, yw, ow, mm. Posts: 233 | From: Palm Springs, Ca | Registered: Sep 2003
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quote:Originally posted by oldseven: Zardiw, how are you related to this company? When is 10Q being released? What is next hurdle for the company? Any time-line?
I've got 90% of my portfolio in TRTN..I have SEEN the possibilities here........10Q coming out very soon. Big machine almost arrived. Exclusive NASA procurement about to be announced.......This company ROCKS!!!!!............z
-------------------- Faster horses, yw, ow, mm. Posts: 233 | From: Palm Springs, Ca | Registered: Sep 2003
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quote:Originally posted by oldseven: Zardiw, how are you related to this company? When is 10Q being released? What is next hurdle for the company? Any time-line?
I've got 90% of my portfolio in TRTN..I have SEEN the possibilities here........10Q coming out very soon. Big machine almost arrived. Exclusive NASA procurement about to be announced.......This company ROCKS!!!!!............z
Big machine almost arrived - When will it arrive and where is it going? When will it be operational?
NASA Procurement about to be announced - Where do you get this info from?
-------------------- Only ONE good stock away from retirement! Posts: 493 | Registered: May 2009
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310 Holdings Inc. Announces an Impending Letter of Intent
NIAGARA FALLS, Ontario, Aug. 10, 2009 (GLOBE NEWSWIRE) -- 310 Holdings Inc. (OTCBB:TRTN - News) has completed its due diligence analysis on a profitable chemical company and anticipates executing a Letter of Intent for its impending acquisition in the immediate future. This well-managed company currently has annualized revenues in excess of $7 million, is growing at a robust rate and has already exceeded revenues by 41% compared to the last fiscal year. Its customer base includes many prominent national and local retailers. No difficulties with financing or integration planning are anticipated. Full details will be announced upon completion of the LOI.
John Bordynuik, 310 Holdings Inc. President and CEO, stated, "We feel that this acquisition will be a perfect complement to our growth model as demand for its patented and proven product is expected to continue to accelerate, while maintaining an excellent profit margin. Also, we will be able to share chemists, marketing, and sales teams, as well as have an additional site with ample room to set up Plastic 2 Oil processors. Our Company will continue to focus on our strong internal growth divisions as well as make synergistic acquisitions that will dynamically grow shareholder value, while creating a win-win situation for all participants."
A detailed announcement on the Company's Plastic 2 Oil division will be forthcoming shortly.
About 310 Holdings Inc.
John Bordynuik purchased 63% of the issued and outstanding shares of 310 Holdings on April 23, 2009. Subsequently, John Bordynuik was appointed President and CEO of the Company.
On July 16, 2009, 310 Holdings Inc. acquired certain assets of John Bordynuik Inc., including all of its intellectual property, its custom tape processing hardware, its Swahili data migration system, fixed assets, and its current customer base subject to certain closing conditions and adjustments.
posted
NIAGARA FALLS, Ontario, Aug. 11, 2009 (GLOBE NEWSWIRE) -- 310 Holdings Inc. (OTCBB:TRTN - News) has received confirmation from RS Marine that their initial Plastic to Oil processor will arrive at port on August 16, 2009 in two 40-foot shipping containers and will then be shipped by rail and truck to the first processing site. An engineer is coming from China to assist with assembly and operation. Assembly of the processor is estimated to take approximately 3 weeks, and the machine will then be retrofitted with the Company's catalyst system as soon as it is functional.
Initial test results have been extremely positive. A number of different plastics, including ground up tape plastic from the 1960s, have been tested. Gasoline and diesel fuels, acquired from local gas stations, were also tested and used as a control sample. The very encouraging results determined that 1 liter of Octane, with better than an 85% yield, could be produced in just 15 minutes.
John Bordynuik, 310 Holdings Inc. President and CEO, commented, "We are very excited about these results and look forward to operating our first large processor in the United States and, moreover, we feel that we can provide a viable solution to the world's plastic recycling problem with our revolutionary technology. Since it takes plastic some 500 years to photodegrade in landfills, our P2O process will help to minimize that problem, while providing essential fuel for consumers."
To date, the Company has received numerous sample plastics from various sources, including a large auto manufacturer in Windsor, Canada. 310 Holdings, Inc. is then able to analyze yield, quality, and other factors to determine which plastics will maximize profitability.
Management has found no lack of raw source material for free, since there is a vast quantity of unrecyclable plastic that currently costs the suppliers and municipalities $80 or more per ton to dispose of in landfill in addition to potentially expensive transportation costs.
Also, upon the completion and closing of the chemical company acquisition, the Company will be able to use this facility for production of their catalyst in a sealed plastic container for deployment to new sites, while also producing smaller packets to "top up" the catalyst in operating facilities. The shared resources would include a team of highly skilled acquisition executives, a chemistry lab and QC lab, a proven marketing and sales team, a knowledgeable staff, and a site on which to run a P2O processor.
posted
I do not see the 10Q that was promised out "today at the latest". Whats the next promise date? Let me guess , before Sept. 5th?
I would really like to get one of these processors. Or at least see it in action. If you could help me do that it would be appreciated. I think I can sell a few around my area. Thanks!
-------------------- Only ONE good stock away from retirement! Posts: 493 | Registered: May 2009
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310 Holdings Inc. Provides Shareholder Update and Will File 10Q On Monday, August 17 Press Release Source: 310 Holdings Inc. On Friday August 14, 2009, 4:26 pm EDT Buzz up! 0 Print NIAGARA FALLS, Ontario, Aug. 14, 2009 (GLOBE NEWSWIRE) -- 310 Holdings Inc. (OTCBB:TRTN - News) retains Gately and Associates as its new auditor and will file the 10Q on Monday.
John Bordynuik, President and CEO of 310 Holdings, Inc., received notice this week that 310 Holdings' original auditor, Moore and Associates, had unexpectedly retired, without giving the Company sufficient notice. Moore and Associates assured management that they had another PCAOB Registered Auditor ready to take over auditing for 310 Holdings, Inc.
However, management was informed yesterday that the newly-referred auditor would not be able to complete their review of 310 Holdings, Inc. in time to file their 10Q as scheduled, since they had a backlog of six other companies.
John Bordynuik, CEO and President, commented, "James Gately did manage to review the 10Q, but unfortunately, due to time constraints, the round of approvals required to edgarize and file another 8k, and 10Q by the SEC cutoff time was impossible. We will file the 10Q August 17."
The Company apologizes for this unfortunate delay, but feels confident that with the election of Gately and his team, 310 Holdings will be able to ensure timely filings in the future.
Additionally, the Company wishes to advise shareholders that events and material news are unfolding at a rapid pace. Therefore, 310 will be forthcoming with numerous press releases to keep the investment community informed as to its progress. Keeping investors updated on the corporate web site or through emails is not an acceptable method to disseminate public information pursuant to SEC disclosure rules. Unless the SEC allows public companies to disseminate information by other means, the Company will continue to update shareholders and investors through the public media.
310 Holdings, Inc. strives to remain clean, compliant, and transparent with its investors and will therefore continue to release frequent press releases to keep everyone up to date as the Company expands and grows.
Furthermore, the Company is in the process of retaining a competent and very experienced investment professional to handle all investor relations duties, including communications with the media and shareholders as well as writing press releases. Details will be announced shortly.
About 310 Holdings, Inc.
John Bordynuik purchased 63% of the issued and outstanding shares of 310 Holdings on April 23, 2009. Subsequently, John Bordynuik was appointed President and CEO of the Company. 310 Holdings Inc. signed a definitive agreement to acquire and continue tape data migration and transcription services of John Bordynuik Inc. on June 25, 2009.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Those statements include statements regarding the intent, belief or current expectations of 310 Holdings Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Changes in Registrant's Certifying Accountant, Financial Statements and Exhibi
Item 4.01 Change in Registrant's Certifying Accountant. On August 14, 2009, we dismissed Seale and Beers, CPAs ("Seale") as our independent registered public accounting firm. We engaged a new independent registered public accounting firm, Gately & Associate, LLC ("Gately") on August 14, 2009. Pursuant to Item 304(a) of Regulation S-K under the Securities Act of 1933, as amended, and under the Securities Exchange Act of 1934, as amended, we report as follows:
(a) (i) Seale was dismissed as our independent registered public accounting firm effective on August 14, 2009. (ii) Seale has been our auditors since August 11, 2009 and Seale has not filed any reports on our financial statements and therefore did not contain any adverse opinions or disclaimers of opinion, and were not qualified or modified as to uncertainty, audit scope, or accounting principles, other than for a going concern. (iii) The termination of Seale and engagement of Gately was approved by our board of directors. (iv) We and Seale did not have any disagreements with regard to any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure for the audited financials and subsequent interim period through the date of dismissal, which disagreements, if not resolved to the satisfaction of Seale, would have caused it to make reference to the subject matter of the disagreements in connection with its reports. (v) During the period from August 11, 2009 through the date of dismissal, we did not experience any reportable events. (b) On August 14, 2009, we engaged Gately to be our independent registered public accounting firm. (i) Prior to engaging Gately, we had not consulted Gately regarding the application of accounting principles to a specified transaction, completed or proposed, the type of audit opinion that might be rendered on our financial statements or a reportable event, nor did we consult with Seale regarding any disagreements with its prior auditor on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of the prior auditor, would have caused it to make a reference to the subject matter of the disagreements in connection with its reports. (ii) We did not have any disagreements with Seale and therefore did not discuss any past disagreements with Seale.
(c) We have requested Seale to furnish us with a letter addressed to the SEC stating whether Seale agrees with the statements made by us regarding Seale. Attached hereto as Exhibit 16.1 is a copy of Seale's letter to the SEC dated August 14, 2009.
Item 9.01 Financial Statement and Exhibits.
Posts: 3875 | From: ca. | Registered: Jul 2005
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"Has 10Q been filed? I have not had time to look yet."
_________________________________________________
It doesn't appear to be.
I am not sure what there saying except that it is coming, welcome to the pennies or in this case the buck thirties
Posts: 3875 | From: ca. | Registered: Jul 2005
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