** important** Webex has a 200 character limitation for Q&A so some were answered in the chat window.
(from chat window):
We currently have a back log of tapes, and have received new orders from Oil and Gas.
"Do you expect the 3rd party validation of the P2O to be complete this year?" That is possible.
Samples of fuels were created from various plastic feedstocks and were tested (ASTM D 5453) and confirmed a sulphur concentration less than 8.4 ppm (parts per million). Additionally the water and sediment tests (ASTM D 1796) confirm that its fuel contained less than 0.005% water and sediment. Density tests also placed the fuel in the gasoline range.
"What is the estimated cost to produce 1 barrel of fuel in terms of just the operational costs?" This is difficult to answer as we are being paid to accept the feedstock, generate excess energy and sell the output. The cost is less than $10/barrel if we load up our business plan with costs.
Thanks again all for connecting today and for your questions. We are obviously very excited about P2O and the large processor is our highest priority. We will inform everyone about its status when validation is complete.
Yes, the processor will accept unwashed plastics. It will reverse from time to time to clean out anything that entered the system that is not plastic.
Our tape reading objectives: We have expanded our tape business to become a full-service data migration company. We can now scan/read tapes,fiche,film, paper, optical media and carts as a one-stop shop for data migration. We then provide our clients with a solution to access their data (new and old) through a web interface. Our systems support IBM 7094 (1961), UNIVAC, through 180s systems to present. (cutoff) We currently have a huge backlog of tapes/carts to read >100k.
Breakdown of Revenue: We did not break the statements out for a number of reasons. It is very difficult to acquire 3 entities in one quarter much less consolidate all of the information into a Q. In addition, a MD&A has to be prepared based on the information. As well, for every statement we submit in a Q, we must be prepared to answer questions from the SEC or other regulatory bodies. This is very expensive and very time consuming - our focus is to launch P2O at this time. We can back our statements but are still growing and do not have the internal infrastructure to dedicate to answering regulatory body questions in volume. (cutoff) Therefore, we will file information that provides detail about the company but not so much detail that we spend our days answering questions. Some companies receive in excess of hundreds of comments and it can take much time to scan in and compile documents to answer one question.
Q: Hey Jon, I'm here with you! A: This is from John....Thank you for all the kind words. Things are going very well and I'm sure our shareholders will be very pleased with our process. We have been able to acquire 3 entities and validate P2O in one quarter. ________________________________________________________________
Q: Can you give any more of a report on the progress of the validation process? A: All questions about the large processor will be answered in a press release when we receive third party validation and test results. ________________________________________________________________
Q: Has the P2O process been validated in the field? A: P2O is being assembled and tested now. ________________________________________________________________
Q: can you shed more light on the first big production P2O machine being assembled.. any test results, yet? Also, how are the 25 JVs coming along? A: P2O process is currently undergoing third party validation. We can not discuss the PIPE in an open forum. ________________________________________________________________
Q: Thanks, good presentation. Dave C. ______________________________________________________________
Q: also are you able to give any estimates on the tape-reading pipeline .. revenue projections and/or objectives? A: Breakdown of Revenue: We did not break the statements out for a number of reasons. It is very difficult to acquire 3 entities in one quarter much less consolidate all of the information into a Q. In addition, a MD&A has to be prepared based on the informat (cut off)ion. As well, for every statement you type in a Q, be prepared to answer questions from the SEC or other regulatory bodies. They are expensive and very time consuming.
chat from John: Breakdown of Revenue: We did not break the statements out for a number of reasons. It is very difficult to acquire 3 entities in one quarter much less consolidate all of the information into a Q. In addition, a MD&A has to be prepared based on the information. As well, for every statement we submit in a Q, we must be prepared to answer questions from the SEC or other regulatory bodies. This is very expensive and very time consuming - our focus is to launch P2O at this time. We can back our statements but are still growing and do not have the internal infrastructure to dedicate to answering regulatory body questions in volume. (cutoff) Therefore, we will file information that provides detail about the company but not so much detail that we spend our days answering questions. Some companies receive in excess of hundreds of comments and it can take much time to scan in and compile documents to answer one question. ________________________________________________________________
Q: Is catalyst protected or proprietary in nature and if so does JB owe any royalties etc to the creator of the original work with the catalyst. A: No JBI does not owe any royalties for the catalyst. ________________________________________________________________
Q: What % revenue/profit do you anticipate from each of the businesses? A: Breakdown of Revenue: We did not break the statements out for a number of reasons. It is very difficult to acquire 3 entities in one quarter much less consolidate all of the information into a Q. In addition, a MD&A has to be prepared based on the information
See above: Breakdown of Revenue: We did not break the statements out for a number of reasons. It is very difficult to acquire 3 entities in one quarter much less consolidate all of the information into a Q. In addition, a MD&A has to be prepared based on the information. As well, every statement we submit in a Q, we must be prepared to answer questions from the SEC or other regulatory bodies. This is very expensive and very time consuming - our focus is to launch P2O at this time. We can back our statements but are still growing and do not have the internal infrastructure to dedicate to answering regulatory body questions in volume. (cutoff) Some companies receive in excess of hundreds of comments and it can take much time to scan in and compile documents to support one question. _________________________________________________________
Q: do you continue to receive new orders to read data - what do you charge for this service. Can the tapes be used in the P2O recovery? A: Yes we are currently receiving new orders. We charge $22 per tape. The tapes can be used in the P2O process. ________________________________________________________________
Q: How many P2O sites do you anticipate per state? A: That depends on many factors such as the feedstock in that state, and interested JV parties....etc. ________________________________________________________________
Q: Hello John ________________________________________________________________
Q: What is current status of large scale P2O Processor? Is is producienoil yet? A: The current P2O processor is being assembled and tested by a third party. ________________________________________________________________
Q: John ________________________________________________________________
Q: has your company shown your facility to stock brokerage firms? What have been the reactions? A: John has been contacted and met with several different funds, however we can not legally discuss the results of these meetings until filed with the SEC. ________________________________________________________________
Q: Has the fuel from the P2O process been tested? A: Yes it has been tested by a national lab used by refineries to test crude prior to acceptance. ________________________________________________________________
Q: When do you expect the third party validation to occur? A: It is already before the scientists eyes. ________________________________________________________________
Q: Im sorry if this was discussed during the presentation but is there a rough timeframe estimate when the P2O will be assembled and tested? Thanks A: P2O is being assembled and tested now. An independent state certified lab is doing all the third party validation to expedite the roll out. ________________________________________________________________
Q: Will Patit products be released for retail in the near future A: Management is currently exploring retail options for Pak-It. ________________________________________________________________
Q: Is there also a mobile processor in process? If so, when wil it be available to begin traveling? A: Yes there is. There are two mobile options at this time. ________________________________________________________________
Q: Can anymore color be provided on how the oil tanker will be used? A: Currently any further information about the oil tanker is a corporate trade secret. ________________________________________________________________
Q: Does the company have an estimate for how long it will take to order, recieve, install a P2O site and get operational once the franchise application has been approved and completed? A: It is estimated at 60 to 90 days. ________________________________________________________________
Q: Can you discuss the progress of the 25 P2O JVs being established? A: We can not discuss the PIPE in a public forum. ________________________________________________________________
Q: Can you share your short/mid/long-term revenue goals for the tape-reading business and for Javaco? A: Breakdown of Revenue: We did not break the statements out for a number of reasons. It is very difficult to acquire 3 entities in one quarter much less consolidate all of the information into a Q. In addition, a MD&A has to be prepared based on the informat (cutoff – answered in length in chat) ________________________________________________________________
Q: Are you looking at any local (U.S. or Canada) sources for fabrication of processor, or will you continue to acquire from China? A: We are considering all sources for fabrication. A: We will being using sources from China and the US to manufacture the P2O processors. ________________________________________________________________
Q: Sugestion: I have tried the Pak-it products...very impressed. For household use in the retail market a lemon scent Pak-it product would sell well. A: Thank you for the suggestion. ________________________________________________________________
Q: what is the single major growth strategy for Pak-it to grow to $50M? A: We plan to focus on national retailers and BSCs with our two-prong strategy: the Pakit dilution system coupled with a logistics delivery system. We're the only company that offers this solution, and major retailers like Home Depot are seeing the value. ________________________________________________________________
Q: can you comment on the authorised shares increase? A: The comon shares were increased on the advice of our securities lawyers. There was (and is) a concern that when P2O is running shortly that we would need to access capital quickly to launch a major rollout. A: The PIPE would use most of the remaining common shares at the time. As well, the preferred was not available and an increase would take almost a month. In any event, a portion of my shares are being returned to the treasury when preferred is issued. A: The shareholders WILL NOT see any dilution as a result of the 3 acquisitions and the financing from when I purchased the company with 63.7M shares outstanding. ________________________________________________________________
Q: How fast do you expect to find buyers for the fuel? Or do you already have potential buyers lined up? A: Refineries will take as much as we can produce. This is not a barrier or challenge in any way. Our fuel is better than what they receive from the wells as it is "prerefined". ________________________________________________________________
Q: What is the synergy for Pak-It and P2O? A: Pak-It has a bulk processing facility. PakIt (DCL) will produce the catalyst in a sealed plastic container that will be loaded into the reactor. As the reactor warms up, the plastic container will melt and release the catalyst. ________________________________________________________________
Q: Does the catalyst in P2O act to assist in the faster breakdown of the plastic into gasses or in the recombination of the gas products into oil? How do you account for the difference in recovery? i.e. why do we recover 99% and others 40%? A: Yes, the catalyst greatly expedites the cracking of the plastic. As well, it allows us to select on a tight curve what hydrocarbon we wish to produce. This is accomplished by changing the ratio of the chemicals in the catalyst. A: Most other methods must(ch) heat the plastic much higher and poor conversion takes place. The gases are condensed to fuel when passed through the condenser. ________________________________________________________________
Q: John, How do you intend to maintain control of the company given the very large potential dilution of shares from 70M authorized to 150M? A: 150M are authorized, not issued. When the dust settles, the common share outstanding will be lower than now, I will have control through preferred stock (with piggy back rights for common shareholders). There is no dilution of shares. ________________________________________________________________
Q: What determines the price you will get for the oil you produce? A: WTI (West Texas Intermediate) price less $3. The refinery picks up the fuel. ________________________________________________________________
Q: Can the same Processor be used for both plastic and rubber tires? Is the catalyst the same? Can plastic and rubber tires be put in the processor in the same batch? A: I would not mix the two. Tires have cord, wire and carbon black powder. Our processor deals with this. We could mix the two but I don't see the value. ________________________________________________________________
Q: Did you really say 100,000,000 barrels of oil by 2020? ;-) A: Yes. Consider that a P2O site will be producing a minimum of 20,000 liters per day (per two processors). Our continuous feedstock rate is dependent on not saturating the condensers. ________________________________________________________________
Q: How long does a "batch" of plastic take to convert? How much plastic can be converted in a 24 day? Can the P2O be run 24/7? A: We plan to do a minimum of 20 tons per day per site. We are also developing a continuous feed function that could enable 24/7 production. A: Yes it can. We have released very conservative numbers until we can prove it with third party validation. We can breakdown large volumes of plastic with our catalyst in less than an hour. In a continuous process, our feedrate is governed by the A: rate at which a condenser can handle. ________________________________________________________________
Q: any idea of the timeframe to move to NASDAQ? Can this happen in 2010? A: We have to meet the NASDAQ requirements for number of shareholders, revenues, and share price. We are just waiting to satisfy the minimum share price. ________________________________________________________________
Q: Are ther plans for smaller P2O for smaller communities? A: Small communities consume a lot of plastic. We need several P2O sites in Niagara alone. There are some studies on the net relating to plastic consumption in a small community in the UK. I'll forward a link later. ________________________________________________________________
Q: to produce 100 million barrels/year would require JBI to only 591 processors running 365 days a year. This would translate into only 4 million tons of plastic. Isn't this a very conservative number? Waste plastic in the US is estimated to be 15 m tons/year A: In our estimates we assume that 20 tons of plastic will produce 110 barrels of oil. ________________________________________________________________
Q: Are you planning to do a reverse split in order to meet the minimum shareprice to apply for NASDAQ? A: No way. We'll get there on revenue and earnings. It's the only way to do it right. ________________________________________________________________
Q: Can't the oil be sold directly to large users? A: Yes it can but we have a customer willing to pick it up all day long at aprox $74/barrel at today’s price. ________________________________________________________________
Q: What share price does Nasdaq require? How many OS will there be after the preffered issue? A: $5/share. The OS will be below 50M. Based on a P2O machine producing in excess of $2M/profit/year it is not difficult to achieve even if we trade at a conservative multiple. ________________________________________________________________
Q: How is the feedstock put into the hopper? Conveyor system? A: A conveyor. It's a trade secret how the plastic enters the reactor. ________________________________________________________________
Q: Do you care to make any forward-looking statements regarding revenue projections for all combined entities for first half of 2010? A: That will depend totally on P2O. It is our home run and the numbers are attractive. Negative cost in, 15% of weight converted to gas to run the system, paid for the oil output. It's a great growth model. You'll get numbers when P2O is validated. ________________________________________________________________
Q: Can the feedstock hopper be loading while the processor is converting? A: The processor is continuous or batch. We can load plastic into the system as long as the condensers are not overloaded. The system will feed plastic into the reactor. The feedstock enters in an oxygen free environment. ________________________________________________________________
Q: What operating permits are necessary for the P2O i.e. air quality, combustibles, etc A: That depends on country, state and even down to the city level. We are focused on collecting and documenting as much data as possible for use in other areas. ________________________________________________________________
Q: Much has been written about the large plastic patch and environmental hazard in the ocean! Do you envision JBI eventuallyattacking this problem which would result in positive global press? A: Well, we don't hire stock promoters so we have to look to work on projects that will bring attention to the company. In the end, the volume of our stock will depend on the number of people that know about it. ________________________________________________________________
Q: Is it one hopper full per batch? A: No, the hopper will be topped up as the processor operates. ________________________________________________________________
Q: do you have to pre-shred the feestock? How big/small is the mouth of the processor? A: The mouth of the processor is 16 inches. ________________________________________________________________
Q: Would love to "hear" from the team in the next conf call (i.e voice/video). Good luck with the next few weeks!!!! A: We will all be on the line next time. We just completed 3 acquisitions, a Q, large P2O, and managing the growth of the tape business and making PakIt in Canada. Everyone is working very hard. We will have a conference call with all when big P2O is done. ________________________________________________________________
Q: Does the feedstock(tires and plastic) need to be shredded prior to entering the hopper? or does the processor break it down to fit into the 16" opening? A: You could load the processor with a laser printer and it would convert the plastic components to oil. The catalyst is a liquid and the heat transfer is very quick. Shredding is nice to expedite the process further. ________________________________________________________________
Q: Thanks for taking the time for this call -- many shareholders are very pleased that you announced it, myself included! _____________________________________________________________
Q: Thank you for your presentation
z
-------------------- Faster horses, yw, ow, mm. Posts: 233 | From: Palm Springs, Ca | Registered: Sep 2003
| IP: Logged |
posted
Expecting the first machine to by up by XMAS....
Q: Has the fuel from the P2O process been tested? A: Yes it has been tested by a national lab used by refineries to test crude prior to acceptance. ________________________________________________________________
Q: When do you expect the third party validation to occur? A: It is already before the scientists eyes. ________________________________________________________________
Q: Im sorry if this was discussed during the presentation but is there a rough timeframe estimate when the P2O will be assembled and tested? Thanks A: P2O is being assembled and tested now. An independent state certified lab is doing all the third party validation to expedite the roll out. ________________________________________________________________
Q: Can the feedstock hopper be loading while the processor is converting? A: The processor is continuous or batch. We can load plastic into the system as long as the condensers are not overloaded. The system will feed plastic into the reactor. The feedstock enters in an oxygen free environment. ________________________________________________________________
z
-------------------- Faster horses, yw, ow, mm. Posts: 233 | From: Palm Springs, Ca | Registered: Sep 2003
| IP: Logged |
posted
"Big P2O works - it's a done deal. We needed a second set of eyes to validate the processor for mass rollout and safety (and bragging rights) which will allow us to promote P2O in the mainstream news." ~~John Bordynuik, CEO of JBII, 12/1/09
Posts: 111 | Registered: Jun 2009
| IP: Logged |
quote:Originally posted by PeterSLynch: "Big P2O works - it's a done deal. We needed a second set of eyes to validate the processor for mass rollout and safety (and bragging rights) which will allow us to promote P2O in the mainstream news." ~~John Bordynuik, CEO of JBII, 12/1/09
Great news! Where did you find this info? I would like to read the entire PR but I can't seem to find it anywhere.
"We needed a second set of eyes to validate"... Where is this validation info at? I would like to read about what they found also.
-------------------- Only ONE good stock away from retirement! Posts: 493 | Registered: May 2009
| IP: Logged |
I am filing the application now to list to the AMEX. We can be on that exchange 20 days after our stock price stays above $2. I am setting up a Board of Directors to set up an audit committee (last requirement) so that we can uplist and the manipulation can stop.
$5 is required for the NASDAQ but AMEX will allow us to uplist on an accelerated basis at5 $2/share. It is best for us to list on AMEX and then go to NASDAQ. AMEX offers us a lot including the ability for Canadians to invest with their retirement funds.
"A couple of questions: Must that be a constant price or an average price, and if average, out of how many days? How long must it maintain the price before eligible to up list?"
I am asking Gregg Jaclin, our securities lawyer.
The price must maintain $2 for 20 days.
"On a personal note, can you send anything comparing PAK-IT to competitors? I know we discussed it, and I have informed my sister, but it is always more well received if it comes from the company."
PakIt does not have any competitors in its space. That is why Home Dept, Sears, KMart, Target, 11,000 regis Hair Salons are now using it. We own two patents that protect the technology.
Some companies have unsuccessfully tried to do tear packets but they were messy and dangerous to employees.
The proportionate systems (Johnson Diversity and Proctor and Gamble) are being replaced by our cleaners which has proven to be validation. More and more customers are moving to PakIt everyday. We are entering into an agreement with Simoniz to QVC and Infomercial the product retail.
I'll ask Frank Wiley of PakIt to provide me with a competitive analysis of PakIt and will forward to you.
Regards,
John Bordynuik CEO JBI
z
-------------------- Faster horses, yw, ow, mm. Posts: 233 | From: Palm Springs, Ca | Registered: Sep 2003
| IP: Logged |
"We can uplist to the AMEX if we can maintain $2/share for 20 days.
We are moving fast. I am not waiting until march to assemble the BOD. Many people have contacted me about RRSP investments. Well, we had to start somewhere and the OTC was it. Now time to move up."
Posts: 111 | Registered: Jun 2009
| IP: Logged |
JBI, Inc. CEO Reduces Outstanding Common Shares by 12 Million
NIAGARA FALLS, Ontario, Dec. 8, 2009 (GLOBE NEWSWIRE) -- JBI, Inc. (the "Company") (OTCBB:JBII - News) announces that John Bordynuik, CEO / President, has returned twelve million of his common shares to the Company's treasury and was issued one million non-convertible preferred shares, with 100 to 1 voting rights and no dividend income. The net effect of this transaction is that there will now be 46,725,106 total outstanding common shares and 1,000,000 series A super voting preferred stock outstanding. The Company's shares are available to use for accretive acquisitions and debt pay-off.
John Bordynuik commented, "Since June 2009, I have returned 22 million of my common shares to the Company's treasury. I have no interest in selling my personal shares or impeding corporate share growth through unnecessary or potentially damaging dilution. My goal is to build a dynamic global growth company and, in so doing, to maximize share valuation for all loyal shareholders. This is best accomplished by growing our core businesses, making prudent acquisitions, and increasing net earnings per share."
-------------------- Only ONE good stock away from retirement! Posts: 493 | Registered: May 2009
| IP: Logged |
posted
It closed at $2.20 today. IMO it will pull back some, but not alot. There should be some profit takers already tomorrow. IT IS NOT to late to buy this stock. I see it at $3 by year end and $5 buy the end of February or much sooner with P2O validation and word of a processor in production.
-------------------- Only ONE good stock away from retirement! Posts: 493 | Registered: May 2009
| IP: Logged |
posted
Almost closing and stock is up another 24% at $2.73. Enjoy the weekend folks, it is still early enough to invest in this stock and make very good profit IMO. It will double from here within a couple months or less - IMO.
-------------------- Only ONE good stock away from retirement! Posts: 493 | Registered: May 2009
| IP: Logged |
Holy CRAP - NET of $2.2 Million from each site??? JBII gets this much? Does JBII own the sites and operate them? I thought originally it was a franchise type deal.
How was this determined?
-------------------- Only ONE good stock away from retirement! Posts: 493 | Registered: May 2009
| IP: Logged |
Holy CRAP - NET of $2.2 Million from each site??? JBII gets this much? Does JBII own the sites and operate them? I thought originally it was a franchise type deal.
How was this determined?
They are basing it on the Outback Steak model. Company retains 65% or earnings...operator gets 35%........There's also a 90/10 deal for a $50K investment.........z
-------------------- Faster horses, yw, ow, mm. Posts: 233 | From: Palm Springs, Ca | Registered: Sep 2003
| IP: Logged |
posted
JBI, Inc. Will Become Debt-Free on December 29, 2009
NIAGARA FALLS, Ontario, Dec 18, 2009 (GlobeNewswire via COMTEX) -- JBI, Inc. (the "Company") (OTCBB:JBII) is pleased to report that all corporate debt, including accrued interest, will be paid in full effective December 29, 2009. The Company's debt-free status will then result in a monthly savings of over $26,000 in interest payments. The debt will be paid off without dilution to the Company's shareholders. Furthermore, JBI will provide a major update on its Plastic2Oil business unit and positive progress prior to Christmas.
John Bordynuik, CEO/President, stated, "We are very optimistic and excited about our growth potential in 2010. All of our divisions, particularly P2O, are now positioned for rapid revenue growth, and the elimination of all interest payments will augment net earnings expansion."
About JBI, Inc.
JBI, Inc. is transitioning to become a global technology leader whose purpose is to mine data from JBI's large information archive, find under-productive entities to inject our superior proprietary technologies into, and benefit from increased productivity and profitability, beginning with Plastic2Oil. JBI has also acquired the following operations:
JAVACO, Inc. ("Javaco") is part of the Supplier Diversity Network, WBENC. JAVACO, Inc. currently distributes over 100 lines of equipment from fiber optic transmitters to RF connectors. To further enhance business in the United States, new distribution lines are frequently being added including a line of home theater and audio video products. Javaco will operate and manage the Company's Plastic2Oil sites in Mexico.
Pak-It, LLC ("Pak-It"): Using the patented Pak-It(TM) delivery system (liquid cleaner in a water soluble sachet) Pak-It can deliver glass cleaner, disinfectant, multi-purpose, and many more cleaning products (42 products currently) shipped in tiny packages of condensed cleaner (inside a 'dry' 1 quart container). This delivery method is "green" since it's fully biodegradable and saves thousands of dollars in shipping. The user simply adds water to the container without measuring or cutting the Pak-It. Large retailers and many national Building Service Contractors already using the product have documented significant cost savings from shipping, training, inventory control and space.
Accordingly, our revenue sources presently include (i) income from reading archived tapes (including microfiche) from clients such as NASA, (ii) income from the recently acquired Javaco, Inc., (iii) income from the sale of Pak-It products, and bulk chemical facility which we realize beginning October 1, 2009, and (iv) from the anticipated commencement of operations in the fourth quarter of 2009 with Plastic2Oil, a process and service that converts plastic to fuel oil. For more information, please see http://www.jbiglobal.com and http://www.javacoinc.com and http://www.pakit.com/.
Forward-Looking Statements
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 JBI, 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.
CONTACT: CONTACT: JBI, Inc. John Bordynuik, President and CEO john@johnbordynuik.com Investor Relations Katie Matkowski +1 (289) 296-5538 Katie@johnbordynuik.com
(C) Copyright 2009 GlobeNewswire, Inc. All rights reserved. -0-
SUBJECT CODE: CHEMICALS PLASTICS Company Announcement
-------------------- Only ONE good stock away from retirement! Posts: 493 | Registered: May 2009
| IP: Logged |
posted
HUGE PR OUT TODAY - this stock should double again shortly. Happy Holidays all!
JBI, Inc. Executes JV LOI With Rick Heddle, Signs LOI for 45 Florida P2O Sites, and Will Apply for ASE Listing
NIAGARA FALLS, Ontario, Dec 22, 2009 (GlobeNewswire via COMTEX) -- JBI, Inc. (the "Company") (JBII) is pleased to announce that December, 2009, has been a month of intense activity and very positive productive progress. The Company and Rick Heddle have agreed to a Joint Venture whereby Heddle Marine Service, Inc. will retrofit ships with P2O processors. The Company is now finalizing a JV Agreement for production of its first P2O ship with Heddle. JBI anticipates contracting with various countries to convert their plastic waste into oil.
The launch of P2O in early 2010 will be an exciting and important harbinger for job creation, environmental clean-up, and oil production. Plastic waste is a huge global problem, contributing heavily to landfill expansion and ocean pollution. The Company has a goal of initially establishing 2500 P2O sites with municipalities/interested parties and launching P2O ships for various countries' plastic waste retrieval and energy production.
Converting plastic to oil has previously been attempted unsuccessfully by other companies as it was not economically feasible. However, the Company's research discovered a unique catalyst that is now proprietary to P2O, as it greatly enhances the efficient and economical conversion of plastic waste to oil, allowing for a 99% recovery rate compared to 45% +/- for competing systems. In essence, the catalyst greatly expedites the cracking of the plastic and allows the Company to select on a tight curve the particular hydrocarbon to produce. Competing methods require much higher heat, considerable energy cost, prohibitively expensive residue disposal, and result in poorer conversion. There is a negative energy cost to operate a P2O processor, since 15% of feedstock weight is converted to gas to run the system. The P2O processor is not a "perpetual machine", 15% of its feedstock is consumed to provide gas to power the processor.
Heddle Marine Service Inc., established in 1987, is the only marine repair firm that operates floating dry-docks on the Canadian side of the Great Lakes. Located on land leased from the Hamilton Port Authority, the site has 160,000 square feet of land, 1,000 feet of wharfage and dock frontage, 30,500 square feet of fabrication shop and 5,000 square feet of machine shop.
This continually expanding, successful company, with 20+ years of expertise in rebuilding ships, converting tanks to cargo and cargo to tankers, will be a valuable and important partner in helping JBI to achieve its eventual goal of attaining a fleet of P2O ships to address global demand for their service. For further information, visit http://www.heddlemarine.com/
Also, JBI has signed a Letter of Intent for the establishment of an Area Development Agreement (ADA) for 45 P2O sites in the State of Florida with a newly formed entity controlled by Al Sousa of Largo, Florida.
Mr. Sousa is a seasoned executive with extensive business experience in both the public and private sectors and has been involved in a wide variety of matters including operational management of multiple entities including acquisitions, marketing, financing and governmental affairs.
In his position with a large publicly held company, he planned and implemented a start-up venture with multiple business units and annualized revenues nearly $150 million. His division had seven business segments in sixteen states with approximately 2,800 employees.
The Company expects that the ADA will be consummated by February 15, 2010.
The Company expects that Mr. Sousa's company will begin to quickly cultivate supply chains and sites for the installation of P2O sites throughout Florida concentrating first on large metropolitan areas and expanding outwards. The "Green" aspects of the P2O process is expected to solve huge problems in the area of plastic waste disposal as well as generate much needed oil for commercial use. Public-Private partnerships are expected and local, state and Federal credits are available for rapid deployment and cost effective development.
An independent lab investigation of JBI's P2O technology revealed the following information: Samples of fuels were created from various plastic feedstocks and were tested (ASTM D 5453) and confirmed a sulphur concentration less than 8.4 ppm (parts per million). Additionally, the water and sediment tests (ASTM D 1796) confirm that its fuel contained less than 0.005% water and sediment. Density tests also placed the fuel in the gasoline range.
P2O produces oil at less than $10 per barrel. In the United States, refineries have indicated that they will pick up the fuel at the price of WTI (West Texas Intermediate) price less $3, currently around $70 per barrel.
JBI's Pak-It division is being positioned for anticipated dynamic revenue growth in 2010. The Pak-It factory in Philadelphia is being completely upgraded to handle high volume retail production for their eco-friendly line of cleaning products. An experienced 5-person national sales force is being hired in January. JBI is in current discussions with a very large, established company that has had great success marketing their consumer cleaning products via television infomercials. This company has indicated a desire to partner with Pak-It in an infomercial marketing campaign. However, if an agreement is not formalized with this potential partner, Pak-It will proceed on its own to have infomercials produced and begin a massive marketing campaign.
Successful infomercials have proven to be a very effective method to rapidly attain major consumer awareness and often generate a significant increase in sales revenue. The patented, cost-effective Pak-It product line clearly appears to have all the attributes for a successful infomercial launch.
JBI will soon establish a Board of Directors consisting of key talent within the Company, including the CEO, and on their Advisory Board, as well as some dedicated open market shareholders to adequately represent our anticipated large shareholder base. Unlike many other BOD's, the Company wants to have a proactive Board that is committed and focused on the continued future growth of the Company for the benefit of all shareholders.
Additionally, the JBI websites are currently being redesigned by a group of loyal, tech-savvy shareholders. The new cutting-edge site will better reflect the Company's achievements and unique technologies. On-site videos will provide the world with a clear view and understanding of the Company's important technologies.
John Bordynuik, CEO/President of JBI, Inc., will be flying to New York the first week in January to meet with exchange officials and begin the application process to up-list JBI on the American Stock Exchange. Furthermore, at the end of January, Mr. Bordynuik will be traveling to China to meet with P2O processor manufacturers, and establish production requirements and volume agreements. The Company has previously been advised that its Chinese manufacturer could produce one P2O processor every day, with a 15-day lead time for each batch.
Furthermore, to avoid dilution, Mr. Bordynuik will be returning an additional 9 million of his personal common shares to treasury on Dec. 29, 2009. Therefore, as of that date, total outstanding common shares will remain at 46,725,106.
John Bordynuik commented, "All of JBI's dedicated team members have been working long hours and very hard to ensure an extremely successful future for our Company. I am most appreciative of all the loyal supporters who have stepped up and committed their valuable time and efforts to our shared vision of growing JBI into an extraordinary, successful company and maximizing share valuation. I wish everyone a most joyous holiday season and a very prosperous New Year."
About JBI, Inc.
JBI, Inc. is transitioning to become a global technology leader whose purpose is to mine data from JBI's large information archive, find under-productive entities to inject our superior proprietary technologies into, and benefit from increased productivity and profitability, beginning with Plastic2Oil. JBI has also acquired the following operations:
JAVACO, Inc. ("Javaco") is part of the Supplier Diversity Network, WBENC. JAVACO, Inc. currently distributes over 100 lines of equipment from fiber optic transmitters to RF connectors. To further enhance business in the United States, new distribution lines are frequently being added including a line of home theater and audio video products. Javaco will operate and manage the Company's Plastic2Oil sites in Mexico.
Pak-It, LLC ("Pak-It"): Using the patented Pak-It(TM) delivery system (liquid cleaner in a water soluble sachet) Pak-It can deliver glass cleaner, disinfectant, multi-purpose, and many more cleaning products (42 products currently) shipped in tiny packages of condensed cleaner (inside a 'dry' 1 quart container). This delivery method is "green" since it's fully biodegradable and saves thousands of dollars in shipping. The user simply adds water to the container without measuring or cutting the Pak-It. Large retailers and many national Building Service Contractors already using the product have documented significant cost savings from shipping, training, inventory control and space.
Accordingly, our revenue sources presently include (i) income from reading archived tapes (including microfiche) from clients such as NASA, (ii) income from the recently acquired JAVACO, Inc., (iii) income from the sale of Pak-It products, and bulk chemical facility which we realize beginning October 1, 2009, and (iv) from the anticipated commencement of operations in the first quarter of 2010 with Plastic2Oil, a process and service that converts plastic to fuel oil. For more information, please see http://www.jbiglobal.com, http://www.javacoinc.com and http://www.pakit.com/.
Forward-Looking Statements
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 JBI, 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.
SOURCE: JBI, Inc. CONTACT:JBI, Inc. John Bordynuik, President and CEO john@johnbordynuik.com Investor Relations Katie Matkowski Katie@johnbordynuik.com +1 (289) 296-5538
(C) Copyright 2009 GlobeNewswire, Inc. All rights reserved.
-------------------- Only ONE good stock away from retirement! Posts: 493 | Registered: May 2009
| IP: Logged |
posted
Closed yesterday at $7.20, its down a little this morning if anyone is looking for a little pullback to get some shares. Good Luck and Happy Hew Year All.
Here is an e-mail posted on another site.
Hello XXXXXXXX,
My answer is the following:
The bench top model was filmed months ago beginning in April. Since then we have tested in large batches and now a continuous processor. The process scales nicely.
Our "cost" per barrel was achieved by metering feedstock with output and then loaded up the business model with every possible cost including excessive costs like royalties, excessive staff, etc... We then cut the production in half while maintaining the same overhead (for a conservative approach). No 3rd party chemical firm is going to release a report and allow it to be published (they specifically state so). It comes down to their risk management. We do however provide reports for JV partners for their due diligence.
I suggest anyone who is unhappy with the information I have disclosed not to invest. I suggest investing then when you are comfortable: ie) after coming to the AGM to view a large continuous processor running, when 5 JV's are running, 10, or the P2O ship, or when we send one to the Pacific Garbage patch, whatever. Then pay the difference from what the share price is today.
I have built this business on open communications with shareholders, moreso than 99% of public companies. I won't burn 3rd party labs by releasing their reports in the public domain nor will I disclose trade secrets to the detriment of our existing shareholders. I get $1/year and have not sold a share. I get paid when the company is large and making a lot of money. My management team are only compensated by the highest form of value-based management. Our BOD will only have common shareholders who purchased on the open market for transparency, clarity, and open communications with shareholders . We aren't doing business like other public companies - we are doing business the way they should. We got this way because I did not let in JV or Funds into the company early to mess around with the Board and do the usual P&D.
I have executed 12 out of 12 times, in record time, while maintaining integrity within the company. P2O is a done deal from my standpoint, we are 100% all in. Decide when you are comfortable with it.
Regards,
John Bordynuik CEO JBI
-------------------- Only ONE good stock away from retirement! Posts: 493 | Registered: May 2009
| IP: Logged |
posted
NIAGARA FALLS, Ontario, Jan. 6, 2010 (GLOBE NEWSWIRE) -- JBI, Inc. (the "Company") (OTCBB:JBII) announces that the Company has paid all corporate debt, including accrued interest prior to its December 31, 2009, year-end in furtherance of its growth strategies. The Company's debt-free status results in a monthly savings of over $26,000 in interest payments.
The debt and accrued interest was paid without dilution to the Company's shareholders. In order to increase shareholder value and prevent shareholder dilution as JBI expands, since June 2009, CEO John Bordynuik has returned 31 million of his personal common shares to the Company's treasury.
"With so much opportunity on the horizon including the launch of P2O and the establishment of P2O sites pursuant to our LOI and the anticipated listing of our Company on a senior exchange, it was critical for me to achieve my goal of a debt-free JBI prior to 2010," said Bordynuik. "I am proud of this Company and its loyal shareholders that made this significant accomplishment possible."
-------------------- Only ONE good stock away from retirement! Posts: 493 | Registered: May 2009
| IP: Logged |
Posted by: Estimated_Prophet Member Level Date: Sunday, January 24, 2010 1:33:37 PM In reply to: Jim Bishop who wrote msg# 218438 Post # of 218497
Pretty good JBII post if you are a naysayer
Yes, it is a cult stock. I think that is easy to understand. I expected it when I first started purchasing shares in late August 2009. I and many believe it to be the best stock opportunity ever. I think even the naysayers can admit to that, as this is a too good to be true story. So, of course it's going to be a cult, and of course people are going to be radical about it. Add to it a CEO that has some moxy, and a flare for communicating in modern ways(FB). Steve Jobs has a cult like following, and so will JB if he accomplishes his goals. Wait until you see what the cult looks like a year from now, if the goals are being obtained. It may look like Jesus Camp
Many of us JBII longs have a deep appreciation and love for the CEO. We think he is doing things the right way, and that he is the most honest CEO we have seen. So, again, that adds to the cult, and the cheerleading. Maybe we are wrong, but it hasn't been proven out yet. The only thing we have is his word and his pattern of execution. Everything has looked great so far. I expect the speculation on P2O to be knocked out within 60-90 days. At that time, we'll all find out who made the right decision.
John has stated that when he found the catalyst that he did not think the research being done had converting plastic to oil in mind. Oil was cheap, and plastic was not plentiful. Look at a chart of plastic production. We produce 7 times the amount of plastic today versus the early 70's. I have asked John about the original owner of the catalyst. He says they have no claims on ownership of it. He gained ownership of the research when whatever institution sold the tapes with the knowledge on them signed the waivers of release.
John's IQ of 170 probably makes him very capable of understanding chemistry beyond what anyone of us could. John is a schematics and engineering geek. I think it translates, but why is this a knock anyway? He is just going to produce the chemical catalyst that he found. He has hired chemist in the company. They have done a lot of research on this. They aren't just winging it. John isn't putting his credibility on the line without major research to back up his claims.
That's a key point that naysayers never discuss back with me. Why would a guy like John pull off a pump and dump? It makes no sense at all. He is sole sourced by NASA and MIT. A multi-billion dollar oil company trusts John with their precious seismic data. It takes a lot of trust in someone to give them all this incredibly precious data from oil and gas, NASA, and MIT. Everything you read about John backs up his credibility and honesty. Please point me to something contrary to this.
The machine is being validated by a third party lab that usually validates refineries. The reason he put it there was to help expedite the permitting issues. He wants to show that it is a green process. You think they are worried that it isn't, and just threw it over to a third party lab the instant they received the final parts to the machine? Give me a break.
I don't think they can scale it up any larger than the current 20 tons a day. The process is currently limited by the condensers ability to process the hydrocarbons. That might be something they can upgrade in the future.
I can't answer the licensing part of this. The machine was built by John. John, I believe, enjoys building things. Maybe he wants things to go according to his plans, and maintain the largest ownership possible.
The cleaner, lol. It's a great product, but we aren't investing in JBI for it. It's a nice product, that should bring in some nice profits. The main need was for catalyst production. I have some Pak-It's under my sink. They have been there for about 3 months now. I thought I better check on them after reading this post. Yep, doing just fine. Just sitting there, still in their Pak-It's.
John is flying in an analyst this week. He has flown in some very large business men to see it already. Al Sousa seemed to be confident of everything.
I look forward to John knocking the speculation out of all of this. Again, I think we'll have it clearly TKO'd within 60-90 days. Then, all the naysayers can say to potential P&D's, "looks too good to be true, but then there was that one that wasn't, JBII, but that was one in a million". Or, I lose faith in humanity altogether if you naysayers are correct.
z
-------------------- Faster horses, yw, ow, mm. Posts: 233 | From: Palm Springs, Ca | Registered: Sep 2003
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Smile]](smile.gif)
