Wednesday, October 3, 2012

JBII Wins Defamation Lawsuit!!

JBII Wins Defamation Lawsuit!!

Link to Original Order: Official Court ORDER

In a stunning victoiry over message board members of shorting and bear raiding crews, JBII got an ORDER for these liars and libelers to Cease and Desist from attacking the company.

The main leader of this crew, one Gerard Mooney, was banned from spreading his libelous comments on any venue.

This serves as a warning to all lying and defaming members of these 'crews' and strikes a blow for all good companies that fall victim to these practices.




z

Saturday, September 29, 2012

JBII Investor Speculates on Buy-out possibility



JBI Speculative Theory

Caution: Reading this may cause the skeptical observer to vomit and diarrhea at the same time. Hopeless romanticism ahead. This felt like an epiphany moment as it put the pieces of the puzzle together for me in a way that always eluded me. Again, this could be hopeless romanticism gone terribly wrong, and I am open to that possibility. This is all speculation. I spend hours analyzing the situation, and it's easy to get carried away. So many twists and turns, and OOHHHHHH soooooooooo much drama.

The drama causes an epic wave of additional skepticism on an already too good to be true proposition. It's a fine line between scam, something that was once possible, but has to now be a "scam"(viability isn't possible, and the towel needs to be thrown, but entity fights as long as there is a heartbeat), and a viable enterprise.

I would estimate there is a 20% chance that P2O fails for JBI, or is taken over for pennies on the dollar. Downward spiraling financing is exerting it's control on the company. A company can survive longer than people imagine, but eventually the downward spiral access to good capital will choke it to death. JBI could still have a few more waves of capital infusion, but the choke hold will get tighter and tighter.

One comment on the drama, is that it's something that should be expected with "too good to be true" scenarios. Ego plays a big role. There are countless stories of all the drama involved with other major breakthroughs in technology, science, and business. Scientists in their thirst for discovery will do crazy things with rival scientist. You can read many examples in "A Brief History of Nearly Everything."

On to the speculation:

The foundation of the speculation is that P2O and JBI has always been about a buyout. If I'm wrong, then everything I'm about to speculate on is dead wrong, and I'm just pissing in the wind. It's always good to have a friend that can tell you that you are just pissing in the wind.


This is about building as perfect a mousetrap to get an entity to sign the dotted line for a major buyout. FDA approval and buyout in drug company example. Many of the things that we can't understand with the moves made and most importantly the production, are due to the allure and dance with a large entity for buyout. I don't know who that entity is, but to make it easy, I'm going to say Waste Management. I think they would be the most likely candidate.

Waste Management has billions to invest and help expand their shareholder value. They've throw billions around, knowing that if they hit 1/10, they break even, and 2/10 becomes huge profit. That doesn't mean they aren't conservative at times. They have been burned, or had less than stellar results with many of their investments. John Bordynuik is in the classification of risky inventor that Venture Capital typically are weary of. This adds a double whammy(risky inventor, blown past waste to fuel investments) of conservatism towards JBI.

WM and John are in a dance, and John is playing it brilliantly.

WM's conservatism probably ticks John off. I don't think there has been motivation to build several processors, or go to a RKT site. I think he wishes the buyout race was already in full throttle. He is as sick of the process as the investors. Nah, probably exponentially more so. John is any shareholders "ticket out of here", so everyone should just chill, and wait to collect their effin check. Got it, get it? Good.

Due to some issues that have taken longer to fix and engineer, the RKT deal probably was about to fall through. They probably felt the lack of interest and ability for JBI to get there. It was saved by Rauber and John. Rauber isn't in this for the long haul. He's here for the buyout. For the best buyout, you need leverage. RKT was always just leverage. To accomplish the best leverage, you have to show that you have a good choice in not taking the buyout price, and just executing the RKT deal. JBI is now unwillingly having to setup for executing the RKT deal. Rauber and Boglin are here to do that. Luskin, Dorrell, etc. know what is at stake and down to dance.

Now, I think that WM is starting to get cozy. I believe they have milestones in place. Thresholds that when surpassed, they up their ante. Step 1 is either a straight buyout, or taking a stake. I'll estimate 15-25%. That protects them if someone else buys them out, and gets the ball rolling on control and the full buyout. JBI probably wants $50. I'd guess the offer is around $7ish now, but if milestones are met, could quickly get to $12-15.

Key thresholds:

Land plastic supply agreement, even if you have to pay. I believe evidence is showing that they don't have access to the best feed stock. You hear about them picking plastic up from people and places. Apparently, someone isn't just dumping them the best feed stock for free. Or, it's simply that JBI isn't ready to collect as much plastic as a contract would be for until they are in higher production. RKT plastic is probably mostly a film for their packaging, so most of the design and focus has been for that. I imagine taking thick gas tanks are the better feedstock though. WM has a lot of access to this.

Run tickets from 1 machine for 3-5 weeks in a row.

Have two processors running continuously, even if it is only 1 ton/hour.

If two or three of these things occur, I think the buyout number gets to $12+. The SIAC report with the pro-forma numbers were for the buyout. Another peer review may be in order with 2 processors to cross compare.

JBI probably wants $50, but I do believe they'd sign for $20, with the strong hope it is $30+. They can weigh RKT deal and other potential deals up with the buyout offer. It will be a great, but tough decision. The better that mousetrap, the better odds of getting that $30+. They may have to execute the RKT deal more than they wish. They may have to get a 3 processor cluster running, but it just depends on the the belief in the SIAC report and Niagara plant results. I do think step 1 would activate before RKT execution of 3 processor cluster, though.

I could be very wrong, but I am an idiot.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80055529


Saturday, September 15, 2012

JBII Fights BACK!!!

One of our intrepid shareholders came across something interesting.

She was in the Courthouse in Welland and happened to glance at the court docket.

And to her amazement, and absolute JOY, she saw that JBII is suing certain basher f...ks that have been making life miserable for both JBII and her loyal shareholders.

Here is the picture she took:



Is this the reason certain bashers on the boards have 'left the building'??........LMAO..........z


Friday, September 7, 2012

Converting Plastic to Oil



Imagine a machine that could convert all of your plastic water bottles and milk jugs into usable oil for your car. It sounds like science-fiction, but the reality of this machine is not as far-fetched as you think. Although this technology has been around for quite some time, the resulting product never fully compared to conventional oil. However, that’s changing thanks to John Bordynuik, founder of JBI Inc.

According to Bordynuik, previous plastic-to-oil attempts have always resulted in a low-grade quality product with a relatively low-flashpoint. In other words, the product resembled the sludge you see if you haven’t changed your oil in 10,000 miles. With Bordynuik’s “plastic-eating machine,” the resulting product is the same No. 6 fuel that U.S. Steel and other major companies pay a lot of money to obtain. In an interview with NPR, Bordynuik told reporters that his product “meets the same specifications of any standardized fuel.”

Future Oil or Another Alternative Fuel Fad?

Bordynuik claims that it costs $10 to produce one barrel of the new oil, and JBI sells it for $100 through its distributor. In fact, the company produces thousands of gallons each day, and it plans to make a significant impact on the future of the oil industry. However, the new oil carries the label “alternative,” which doesn’t bode well for the startup company.

JBI Inc. hopes to carry through with the project and change the landscape of the oil industry. While Bordynuik admits to creating another type of fossil fuel, the new product significantly impacts how recycling centers and landfills manage plastic waste. The Environmental Protection Agency claims that only seven percent of Americans recycle plastics, so JBI’s new technology can reduce the amount of plastics that make it to the landfill. Since there’s always a need for plastics and oil, Bordynuik believes his company can positively affect and alter each industry.

http://www.apexcapitalcorp.com/blog/converting-plastic-to-oil 

Monday, August 20, 2012

Plastic2Oil plant under review at RockTenn mill

Plastic2Oil plant under review at RockTenn mill; butane blending facility in planning for BP terminal

The RockTenn Seminole Mill at 9469 Eastport Road in North Jacksonville is the site for a potential production plant that converts waste plastic into fuel.

08/20/2012
by Karen Brune Mathis, Managing Editor

Plans are under review for two North Jacksonville industrial projects. Ontario-based JBI Inc. is considering construction of a Plastic2Oil production plant to convert waste plastic into fuel oil, according to plans being reviewed by the City.
 

Meanwhile, the City also is considering six permits for a Sunoco butane blending facility at the BP Jacksonville Terminal at 2101 Zoo Parkway.

Plastic2Oil
The JBI Plastic2Oil plant is shown as a 5-acre project on part of the site of the RockTenn Corp. Seminole containerboard mill, formerly known as Smurfit-Stone Container Corp.

RockTenn is at 9469 Eastport Road, off Heckscher Drive.

The www.plastic2oil.com website describes JBI as “an innovative North American fuel company that transforms unsorted, unwashed waste plastic into ultra-clean, ultra-low sulphur fuel without the need for refinement.”

According to the website, JBI and Smurfit-Stone Container Corp., which RockTenn acquired last year, entered into an agreement in April 2011 and the company made its first fuel sale.

In July 2011, JBI reported it entered into a 10-year referral and revenue-sharing agreement with RockTenn to convert product waste into fuel using the P2O technology.

Smurfit-Stone has been a well-known name in the area.

In June 2010, Chicago-based Smurfit-Stone, with operations in Jacksonville and Fernandina Beach, emerged from Chapter 11 bankruptcy protection after restructuring its debts during a recession that weakened demand for packaging.

RockTenn and Smurfit-Stone announced a merger agreement in January 2011 and shareholders approved it in May 2011. Smurfit-Stone became a wholly owned subsidiary of RockTenn.

JBI management declined to comment about the Plastic2Oil project. A spokeswoman said she would be in touch at a later date.

Robin Keegan, RockTenn director of corporate communications, said the company had no comment.

“We are not in the position to discuss the deal at this point,” Keegan said.

The Jacksonville mill engineer also declined to comment.

The JBI website reports that JBI’s patent-pending Plastic2Oil process “is a commercially viable, proprietary process designed to provide immediate economic benefit for industry, communities and government organizations with waste plastic recycling challenges.”

It says JBI is “committed to environmental sustainability by diverting plastic waste from landfill and potential incineration.”

Preliminary site plans show a 9,360-square-foot module production pad with adjacent space for truck unloading; a 1,170-square-foot storage tank concrete area; a 900-square-foot fuel truck loading area; a cooling tower; and a 720-square-foot quality control testing laboratory trailer.

The plans show conveyors, “premelts,”reactors, and towers and condensers.

The website reports that JBI President and CEO Kevin Rauber was previously vice president and general manager of RockTenn, which makes corrugated and container packaging. RockTenn is based in Norcross, Ga., and operates more than 240 facilities in the United States, Canada, Mexico and Chile.

JBI Inc. is based in Ontario, Canada, and maintains a facility in Niagara Falls, N.Y., according to the company.

According to the website, the company founder is John Bordynuik, who serves as chief of technology. JBI began developing the technology in 2009 and said the processor was scaled from a desktop model to a 1-ton and then a 20-ton commercial unit in Niagara Falls, N.Y.

The company said that during the first quarter of 2011, additions and modifications were made to the processor and that the New York State Department of Environmental Conservation issued all the permits necessary to operate its P2O processors in Niagara Falls.

Site plans show the Eastport Road project owner as JBI Inc. of Thorold, Ontario, Canada, and lists Bordynuik as the CEO.

Technical Associates is listed as the civil, structural and mechanical engineer, while Janet Whitmill is named as the landscape architect.

However, JBI, Bordynuik and a former employee, Ronald Baldwin Jr. of Palm Harbor, are defendants in a Securities and Exchange Commission complaint filed Jan. 4.

In a 28-page complaint, the SEC charges that the defendants engaged in a scheme to commit securities and accounting fraud by stating “materially false and inaccurate financial information on the financial statements of JBI Inc.” for two reporting periods in 2009.

The commission states that they misrepresented and overstated the actual value of JBI’s assets and of the company itself by almost 1,000 percent and used the overvalued financial statements in two private capital raising efforts “that raised more than $8.4 million from unwitting investors.”

It said Baldwin has been a licensed CPA in Florida since 1996 and an attorney and member of The Florida Bar since 2001.It said he was appointed CFO of JBI on Jan. 1, 2010, and resigned March 28, 2011.

JBI issued a news release Jan. 4 responding to the complaint, saying it was “profoundly disappointed by the erroneous allegations of fraud contained in the civil lawsuit” filed by the SEC.

“The Company regrets that its attempts to negotiate settlement of this dispute failed, and, in consultation with its litigation counsel and Board of Directors, looks forward to vigorously defending itself in court, where the Company believes it will prevail on the merits.”

JBI said the allegations “concern legacy accounting issues that have since been corrected. Among other things, since restating its financial statements, the Company has hired a new chief financial officer and engaged additional experienced accounting staff as well as a reputable independent audit firm.”

After the SEC complaint was filed, Bordynuik told the Welland Tribune in Ontario that in 2009 JBI was “a very small company and we had an accounting department of one.”

He said the SEC’s issue concerned “a single item on a 2009 accounting statement. I think you would be hard-pressed to find a judge that would kill this for that.”

SEC Regional Trial Counsel Martin Healey said Friday by email that the commission filed a civil injunction against JBI and two individuals in January in federal court in Boston, “and it is still pending in that court.”

Citing SEC policy, Healey said the commission does not comment on pending matters beyond the public record.

JBI spokeswoman Kristin Robbins said the company had no comment. “The company does not comment on unresolved legal matters,” she said in an email.

In May, JBI announced a $10 million investment in equity capital, a successful review of its technology by SAIC Energy, Environment & Infrastructure LLC, Bordynuik’s transition to become chief of technology and Rauber’s decision to join as CEO and president.

It also announced “transition of governance practices consistent with other leading companies.”

JBI said the equity capital was from an investment group of private equity investors, venture capitalists, investment bankers and corporate executives.

SAIC is a private consultant for scientific, engineering, systems integration and technical services.

“The timeliness of this financing is ideal,” said the company’s CFO, Matthew Ingham, in the May announcement.

“We now have the capital resources to accelerate the commercial roll-out of our P2O processers at our Niagara Falls plant and the initial RockTenn sites, endeavoring to achieve our near-term goal of becoming cash-flow positive,” he said in a statement.

http://www.jaxdailyrecord.com/showstory.php?Story_id=537298

Friday, July 27, 2012

Turning Mountains of Plastic Into Gallons of Fuel




 (NewsUSA) – Thanks to one resourceful company and an exemplary demonstration of green technology, one man’s trash can be another man’s fuel — literally."We put plastic in one end, and liquid fuel comes out the other," explains John Bordynuik, founder and chief of technology behind Plastic2Oil, a division of JBI, Inc. that turns unsorted, unwashed waste plastic into ultra-clean fuels that don’t need refinement. The Environmental Protection Agency reports that the U.S. generates 31 million tons of waste plastic every year, and 92 percent of that is dumped in landfills or incinerated — neither of which is eco-friendly. That, coupled with America’s continued dependence on foreign oil, makes Plastic2Oil (P2O) look downright magical. Maybe it is. JBI started developing their unique P2O process in 2009. After a series of tests, analysts determined the procedure to be repeatable in 2010, and the primary plant was established in Niagara Falls, N.Y. Now, an average of 86 percent of the plastic going into the processors is turned into fuel. To date, JBI has converted over 2 million pounds of plastic into ultra-low-sulfur fuel, including No. 2 Diesel, No. 6 Fuel and Naphtha, which is used in petroleum engineering. None of these fuels needed to be refined further. Given the national push to be more environmentally aware, companies are taking truckloads of waste plastics to JBI. Thus, in one move, participating companies can save money on otherwise expensive waste disposal and reduce the mountains of plastic in landfills. Not to mention, companies that supply raw waste materials help produce a scope of refined fuel products.If your company is currently sending a significant amount of waste plastic to landfills, please contact JBI at wasteplastic@jbi.net.For more information, please visit www.plastic2oil.com.

Friday, June 15, 2012

iHub poster Davinci69 discusses negative message board posting re JBII

AN OBJECTIVE ANALYSIS:

The predominance of the negative comments on this message board emanate from two primary factors. The first causal component is that JBI pursued a reverse merger technique of becoming a public entity in advance of profitable revenue generation. The second component is that JBI management and the board of directors lacked the experience traditionally associated with building significant and profitable public enterprises.

 Companies that effect reverse mergers as a means to go public and raise capital, traditionally possess more nascent stages of development of their business models, and commence their public entity exposure with a negative perception. Their market capitalizations are typically in the Micro-cap category, and the desired institutional base of investors and associated “following” by analysts are absent. Consequently, the shares typically do not trade on the more desired NASDAQ exchanges nor the NYSE. Accordingly, they have smaller retail investors, shares are traded in markets that are more subject to manipulation, and lack of information from analysts is filled in by less than scrupulous individuals and entities. Resultant from their premature “going public” entre’, and less developed business models, they are more apt to procure capital through PIPE financings than secondary offerings.

 Like JBI, they typically occur with some degree of frequency as their aggregate offering amounts are relatively small in comparison to that of typical secondary offerings, and require pricing with significant discounts to the market price due to their restricted marketability, and frequently, share prices that lack the trading volume to be truly reflective of fair market value.

 As one can readily ascertain through the frequent disparaging commentaries about JBI’s “dilutionary” financings, the reality is that if JBI were a private entity financed by VCs or other institutional investors, they would traditionally go through a series of “dilutionary” financing rounds anyways. However, these financings would not be subject to the scrutiny of less than sophisticated and knowledgeable investors about how early stage business are developed, requiring investments in technology, management teams, possess negative cash flow, require capital investment, and accordingly demand a series of capital raises.

 The resultant “dilution” to shareholders is arguably not that different between the two approaches, however, one could proffer a case to support a divergence between the two with respect to one being more dilutive than the other. But it is not absolute either way. Ideally, JBI would have been financed privately, commenced significant rates of profitable revenue growth, procured a number of contracted relationships with sources of plastic feedstock and purchasers of fuel, and been able to incontrovertibly prove to the market the veracity of their extraordinary technology.

They would have constructed a world class management team and board of directors, and procured the services of a prestigious investment bank to take them public and enlisted the following of reputable Wall Street analysts. They did not pursue the aforementioned path, and are, consequently, paying the price associated with the reverse merger path. Such as doubts about their technology, defamatory commentaries about individuals within the company, repetitious comments about the negative cash flow, negative comments about PIPE deals, etc.

However, despite such chosen pathway, it does NOT preclude them from becoming a world class enterprise with significant market capitalization, but it does require persevering through more market “hurdles” and associated negative commentaries with going public through a reverse merger. The second component that has been adversely effecting JBI, is the inexperienced management and board of directors.

 With all due respect to John, he is a brilliant technology mind, but lacks the experience to be a CEO of a publicly traded company. Likewise, for the board of directors. Consequently, they have not been adept at; properly communicating expectations to the public market, procuring the services of reputable auditing firms, errors in judgment about financial matters, and rigorous and efficient deployment of capital to commercially develop the technology. Some would and do argue of the comments from the Company that are less than forthcoming and proper. These elements are resultant from the absence of the critical experience typically correlated with building substantial and profitable public companies with extraordinary market values.

 Despite the aforementioned, for the long term investor, JBI is now going through a very positive metamorphosis, most evident from the recent PIPE financing and associated attributes. Meaningful capital invested by a highly credentialed investor group, a reorientation of John’s role to one consistent with his skill set, a highly seasoned CEO with familiarity with the technology, building businesses, and the culture of JBI, establishing objective parameters for an experienced board, effective elimination of the control attributes of the Preferred Stock, and another “validation” of the JBI technology by a world renowned company.

 Furthermore, the likelihood of a settlement with the SEC is now immeasurably enhanced with John’s removal as a board member and CEO, as well as the new terms associated with his Preferred Stock. Now, the single minded focus of the company, and imperative, is to become cash flow positive as expeditiously as possible, and to “prove” the veracity and effectiveness of the technology through installations at Niagra, and at the first RKT site as well, with demonstrably objective financial data resultant from such processors.

Will there be further PIPE deals comprised of equity, that is highly likely preceding the company’s ability to procure debt financing. But that is a reality of building successful companies. As a long term investor, one would hope that such future equity financings are effected at a more robust price per share, reflective of the positive changes inuring to shareholders of JBI. May the patience of the JBI shareholders be rewarded with substantial IRRs, as the metamorphosis to overcome the “hurdles” are surmounted through perseverance and effective execution of the business model.

Tuesday, May 15, 2012

JBI, Inc. Announces $10 Million Financing, Review of P2O by SAIC

JBI, Inc. (the "Company") (OTCQB:JBII) is pleased to announce the following:
  • Investment of $10 Million in equity capital
  • Successful independent review of its Plastic2Oil® ("P2O®") technology by SAIC
  • John Bordynuik to become Chief of Technology ("CTO")
  • Senior RockTenn executive Kevin Rauber to join the Company as CEO and President
  • Transition to governance practices consistent with other leading companies
$10MM Equity Capital Investment
JBI is pleased to announce that investors have agreed to invest $10 million of equity capital via a private placement of unregistered securities at $0.80 per share. The Investment Group participating consists of prominent private equity investors, venture capitalists, investment bankers and accomplished corporate executives.
The Company's Chief Financial Officer, Matthew Ingham, commented:
"The timeliness of this financing is ideal. We now have the capital resources to accelerate the commercial roll-out of our P2O processors at our Niagara Falls plant and the initial RockTenn sites, endeavoring to achieve our near term goal of becoming cash flow positive."
Successful Review of P2O Technology by SAIC
In conjunction with the financing, SAIC Energy, Environment & Infrastructure LLC ("SAIC") was engaged to perform an independent review of the P2O technology and its commercial viability. The preliminary report provides a detailed analysis of the technology, process and business model for the Company's patent pending Plastic2Oil ("P2O") process. The report also contains a pro-forma financial assessment of the capital costs and earnings for the Plastic2Oil business model based on a scalable roll-out of three unit clusters.
SAIC is a FORTUNE 500® provider of scientific, engineering, systems integration and technical services and solutions.
SAIC was present at the Company's Plastic2Oil facility in Niagara Falls, NY over a 3-day period, April 25-27, 2012. The role of SAIC was to review the principal aspects of the Company's P2O process, including the basic engineering design, results from testing and operations at the Niagara Falls facility, and the commercial P2O processor, which is poised for roll-out at the first Rock-Tenn Company ("RockTenn") site.
During the 3-day audit, the P2O processor ran in continuous mode, with 121,318 pounds of throughput, producing 10,287 gallons of No. 6 Fuel and 4,269 gallons of Naphtha.
"This independent review is by far the most comprehensive that we've undergone to date," states John Bordynuik, CEO. "Furthermore, this is the first time we've received a pro-forma financial analysis from an independent third party, and we are extremely pleased with the positive conclusions.
"



z
 
 

Wednesday, April 11, 2012

JBII Current Status. Morale is High!

From DZ25,  JBII Investor:

I just spoke to Chris Irons. All is well in Thorold. Fight the good fight JBII Longs!! He states that the teamwork and work ethic of all at JBI is incredible. John works 18-20 hours daily. I asked about his family and he stated, 'they understand what he is trying to accomplish'. JBI is his family while at work.

We are humming along nicely. The entire community is behind JBI and it has become a fight for what will be a huge benefit for many; local, nationally, and internationally! The process works and is the envy of all in the industry, especially, Agilyx. :)

Do not lose hope or let any posted fear, uncertainty, or doubt get in your way. There are large forces trying to put JBI out of business. Not just short all the way down. They have a plan, they are executing their plan.

Now is the time to stand up for JBI. Be vocal, share the news with all who will listen to you. This is from Chris Irons, my friend. Not Chris Irons, the IR Director. We will succeed because humanity loses too much if we don't. John DOES have shareholders and employees interests top of mind. The daily miniscule price slide should not worry any true long. As always, be smart. Invest what is right for your unique circumstances. I for one am in this for the long haul. I KNOW I am in good hands.

DZ



z