"In May 2010, IsleChem engineered and had manufactured a simple solution to separate diesel and gasoline fractions into separate fuel tanks to remove the gasoline fraction from our diesel-like fuel. IsleChem is presently testing this solution with various plastic feedstock and it will be scaled to work on our 20T Plastic2Oil processor. The Company will not delay work and testing for an air permit by waiting for a large scale gas/diesel separator."
"On December 22, 2009, the Company and Rick Heddle 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. Also, JBI has signed an Area Development Agreement (ADA) for 45 P2O sites in the State of Florida with AS PTO, LLC, an entity controlled by Al Sousa of Largo, Florida. Both Heddle and Sousa have strong management capabilities and are expected to be essential to the scaling up of a nationwide P2O launch."
"JBI continues to maintain its data recovery and migration business through the use of its tape drives. It currently has a mobile data container that can be deployed to transfer data onsite for customers with highly sensitive data. It acquired tape drives, servers, and the mobile data container through the acquisition of certain assets from John Bordynuik, Inc. The Company has a large backlog of tapes to be migrated and is seeking strategic partnerships with international companies that will allow the Company to realize tape revenues faster, thereby decreasing the backlog."
"In 2010, the Company assembled its 20T Plastic2Oil processor at its P2O factory in Niagara Falls, NY. The Company purchased a shredder and granulator to preprocess bulk plastic. A complete automation system with 63 sensors was installed on the Plastic2Oil processor for control, data logging, and management. The processor was run to gather operational steady state data for a stack test. Oxygen sensors supplied by a major US sensor manufacturer failed when exposed to the process over time and delayed our permit application process. A number of oxygen sensors were tested until a suitable replacement was found. Sensors on the processor are now functioning properly"
"The Company has also been focusing on restructuring the Philadelphia plant and revised the business plan for growth into the retail market. Management is going forward with a full retail rollout of Pak-It products. The company engaged Western Creative Inc. on January 12, 2010 to assist in planning and marketing the retail launch. In anticipation of increased demand for product from the retail launch, management is also reconfiguring the plant and updating its equipment
We also procured a 20 MT (metric ton) Plastic2Oil Processor and are now developing all aspects of the process from procurement, to automated systems of feeding, processing, and collecting oil."
As discussed in Note 2 to the consolidated financial statements, the Company has restated the 2009 financial statements to correct the accounting for business acquisitions and stock issuances. The effects of this restatement are disclosed in Note 2.
WithumSmith+Brown, PC
New Brunswick, New Jersey
July 9, 2010
http://www.sec.gov/Archives/edgar/data/1381105/000121390010002805/f10ka2009_jbi.htm
Saturday, July 10, 2010
"Estimated Profit" discusses JBI "investment"
Amazing how many people fail to understand that not one single long invested in JBI for the balance sheet. We invested in what the balance sheet will hopefully look like in 2011 and beyond. It's called speculation, something some here seem to have a problem with.
The company has claimed that their P2O processor can process 109 barrels of fuel from 20T of waste plastic at a cost of under $10/barrel. IF, that's the big word, IF the claims are proven, then here is a possible road map on where the stock could go. Remember, you can change the O/S count, barrels/day, price of oil, PE ratio to your liking.
http://dl.dropbox.com/u/3474887/JBII%20Price%20Matrix.xls
That's why we are invested. That's why we have made the speculation. Not some media credits, not the tape business, not Javaco, not some cleaning solution(ok maybe 1-5% are invested for it), and not the current assets on the balance sheet.
So glad to see the 10K out and to be reliable. Figured the skeptics would hoot and holler, and figured the longs wouldn't care what was on it(see first paragraph). Nice to hear some explanations and updates on P2O. Let's get this 10Q out next week, and then I'm ready to watch this company execute. Would love a conference call/Q&A session for further explanations and to set the tone going forward. Hope they are considering this. If this company is a huge success, then I think we will all look back to this time period and be thankful we went through it. Didn't like it at the time, but it was probably exactly what was needed for true longterm success. Cheers, to leaving the fart and giggle stage of this company and onward to the new beginning!
The company has claimed that their P2O processor can process 109 barrels of fuel from 20T of waste plastic at a cost of under $10/barrel. IF, that's the big word, IF the claims are proven, then here is a possible road map on where the stock could go. Remember, you can change the O/S count, barrels/day, price of oil, PE ratio to your liking.
http://dl.dropbox.com/u/3474887/JBII%20Price%20Matrix.xls
That's why we are invested. That's why we have made the speculation. Not some media credits, not the tape business, not Javaco, not some cleaning solution(ok maybe 1-5% are invested for it), and not the current assets on the balance sheet.
So glad to see the 10K out and to be reliable. Figured the skeptics would hoot and holler, and figured the longs wouldn't care what was on it(see first paragraph). Nice to hear some explanations and updates on P2O. Let's get this 10Q out next week, and then I'm ready to watch this company execute. Would love a conference call/Q&A session for further explanations and to set the tone going forward. Hope they are considering this. If this company is a huge success, then I think we will all look back to this time period and be thankful we went through it. Didn't like it at the time, but it was probably exactly what was needed for true longterm success. Cheers, to leaving the fart and giggle stage of this company and onward to the new beginning!
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