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  • Websman
    Senior Member
    • Apr 2004
    • 5545

    TRTN is now JBII. It's been trading sideways for a while, but it's still looking good.

    Comment

    • billyjoe
      Senior Member
      • Nov 2003
      • 9014

      Webs,
      Watch out , your enemies are up to no good. http://images.google.com/imgres?imgu...icial%26sa%3DG

      What planet are they from? I forgot.

      -----------billy

      Comment

      • Websman
        Senior Member
        • Apr 2004
        • 5545

        Originally posted by billyjoe View Post
        Webs,
        Watch out , your enemies are up to no good. http://images.google.com/imgres?imgu...icial%26sa%3DG

        What planet are they from? I forgot.

        -----------billy
        I don't know where they came from, but I'd like to get my hands on some of their $$$MONEY$$$!

        Comment

        • billyjoe
          Senior Member
          • Nov 2003
          • 9014

          I didn't do any research but was told their late father was a high profile lawyer defending O.J. Simpson among others.
          But weren't Romuluns and Kardashians great enemies of Vulcans?
          -----------billy

          Comment

          • Websman
            Senior Member
            • Apr 2004
            • 5545

            Originally posted by billyjoe View Post
            I didn't do any research but was told their late father was a high profile lawyer defending O.J. Simpson among others.
            But weren't Romuluns and Kardashians great enemies of Vulcans?
            -----------billy
            If I remember correctly, the Kardashians are nothing more than a lower form of Klingon. Their father must have sucked at being a lawyer...O.J. is in prison.

            Comment

            • g92069
              Member
              • Jun 2009
              • 63

              Originally posted by Websman View Post
              TRTN is now JBII. It's been trading sideways for a while, but it's still looking good.
              Webs....I guess sideways is better than down, huh. Though I am getting a bit bored with the 1-5 cent moves every day.

              JBII has made a couple of aquisitions lately that hopefully will increase the share interest and volume.

              JBII is supposed to have a Conference call in November that will answer some questions about where they want to go, their direction, and how they are going to get there. The PR is intended for big money buyers.

              I would like to see some P2O franchises up and running and see some actual movement in this most interesting phase of their operation.

              G

              Comment

              • Websman
                Senior Member
                • Apr 2004
                • 5545

                Originally posted by g92069 View Post
                Webs....I guess sideways is better than down, huh. Though I am getting a bit bored with the 1-5 cent moves every day.

                JBII has made a couple of aquisitions lately that hopefully will increase the share interest and volume.

                JBII is supposed to have a Conference call in November that will answer some questions about where they want to go, their direction, and how they are going to get there. The PR is intended for big money buyers.

                I would like to see some P2O franchises up and running and see some actual movement in this most interesting phase of their operation.

                G
                I'll be listening to the conference call. I think we're looking good, long term.

                Comment

                • Websman
                  Senior Member
                  • Apr 2004
                  • 5545

                  JBII conference call this week... This little mf-r is going to fly soon.

                  Comment

                  • Websman
                    Senior Member
                    • Apr 2004
                    • 5545

                    JBII form-10Q out. Not too Vulcan bad for a new company, in my Vulcan opinion.

                    At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life.


                    Form 10-Q for JBI, INC.

                    16-Nov-2009

                    Quarterly Report


                    ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

                    Management's Discussion and Analysis contains various "forward looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, regarding future events or the future financial performance of the Company that involve risks and uncertainties. Certain statements included in this Form 10-Q, including, without limitation, statements related to anticipated cash flow sources and uses, and words including but not limited to "anticipates", "believes", "plans", "expects", "future" and similar statements or expressions, identify forward looking statements. Any forward-looking statements herein are subject to certain risks and uncertainties in the Company's business, including but not limited to, reliance on key customers and competition in its markets, market demand, product performance, technological developments, maintenance of relationships with key suppliers, difficulties of hiring or retaining key personnel and any changes in current accounting rules, all of which may be beyond the control of the Company. The Company adopted at management's discretion, the most conservative recognition of revenue based on the most astringent guidelines of the SEC in terms of recognition of revenue. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including those set forth therein.

                    In addition, the foregoing factors may affect generally our business, results of operations and financial position. Forward-looking statements speak only as of the date the statement was made. We do not undertake and specifically decline any obligation to update any forward-looking statements.

                    Plan of Operations

                    JBI, Inc., formerly known as 310 Holdings Inc., was incorporated in the State of Nevada on April 20, 2006. 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 transitioned our company to become a global technology leader whose purpose is to mine data from Bordynuik'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.

                    Management immediately executed its businessby acquiring three revenue generating sources during this quarter. Detailed summaries of each acquisition are described below.

                    Through these acquisitions, management believes that it has quickly assembled an experienced team of professionals that will allow the Company to grow both organically (within each subsidiary) and through synergistic acquisitions that have a demonstrated propensity towards being eco-friendly.

                    Through the recent recession it appears that conglomerates will reemerge as an effective way to pool financial and management resources and as such, JBI is positioning itself to pool resources so it can effectively deal with local and global issues of sustainability. By offering "green" products and continuing to use its proprietary technologies the Company will help create solutions to enormous problems. From PakItâ„¢ products, where we save fuel by "not shipping water", to Plastic2Oil where we will create fuel from what is currently a costly disposal problem, the Company is well positioned for growth.

                    Creating New Technology - Bit by Bit

                    To continue the Company's plan of commercializing data mined from the tape recovery sector of our business we continued our work the last three months on a retrofitted lab-model Plastic2Oil processor. We also procured a 20 MT (metric ton) Plastic2Oil Processor.

                    Using the prototype, the Company has been successful in producing ASTM certified fuel from the Plastic2Oil process and proprietary catalyst in quantities up to 100 liters. The company was unable to test its process in larger quantities as the 20MT processor is still being assembled. The 20MT processor is being meticulously assembled and each assembly process is being photographed and logged so that the processes and procedures for the final operating unit can modeled, independently tested, and the put into production quickly where plastic discards are readily available. Management believes, based upon prototype testing to date, that each large processor will process 20 metric tons of plastic in a continuous operation.

                    On July 15, 2009, the Company closed a purchase agreement to purchase and assume certain assets of John Bordynuik Inc. The assets acquired were predominantly custom tapes drives, computer hardware, servers, and a mobile data recovery container to read and migrate data from computer tapes. The Company used the hardware to immediately service existing clients of the Company which includes processing tapes from NASA. This Agreement will allow the Company to read tapes to realize the revenue of migrating data of customers' tapes at a flat rate.

                    On August 24, 2009, the Company acquired Javaco, Inc. ("Javaco"), for its know how in world-wide communications and its business experience in Mexico and South America. Management intends to utilize Javaco's expertise to launch Plastic2Oil sites in Mexico and South America and to develop a secure communications infrastructure between the Plastic2Oil sites and the Company. 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.

                    In connection with the Javaco acquisition, the Company acquired $9,997,134 of media credits in print and radio. Management intends to use the media credits to advertise information about its PakIt products (discussed later) and to locate premium Plastic2Oil sites.

                    On September 30, 2009, the Company acquired Pak-It, LLC, a Florida limited liability company. Pak-It operates two business units: 1) a bulk chemical processing, mixing, and packaging facility and 2) a patented delivery system that packages condensed cleaners in a small water soluble package. The acquisition of PakIt, LLC was primarily driven by the Company's desire to access the experience that the PakIt management team has in chemistry, marketing, sales, operations, finance, and particularly in real estate and franchise related mergers and acquisitions. Management intends to utilize the PakIt team to help grow all of the Company's business segments including the Philadelphia plant which will perform the following:

                    · Bulk packaging facility will mix and package the catalyst used in the Plastic2Oil process.

                    · Continue to manufacture PakIt water-soluble sachets and assist in setting up Canada operations for manufacturing and sale of PakIt products in Canada.

                    · To sell cleaners using PakIt's technology in the retail space.

                    Plastic2Oil Operations

                    The company commenced Plastic2Oil operations on April 24, 2009, a process and service that extracts fuel from plastic.

                    Mr. Bordynuik designed hardware and software to recover planetary and sensor data from old magnetic media for various government and institutional archives for more than 20 years, amassing what is believed by management to be the world's largest solution and algorithm archive. We have access to terabytes of this normalized earth sensor data (heat budget, solar radiation, gravitational, magnetic, and vibration information), algorithms, massive research archive, and other related information.

                    While mining through the research archive, John Bordynuik found the solution, catalyst and process to a break down plastics to liquid hydrocarbons. Mr. Bordynuik had explored Plastic to Oil conversion when employed at the Ontario, Canada legislature but there was no research available at that time to make the conversion commercially viable. This recently mined research was conducted when plastic was not as widespread as today and oil prices were very low. It appears to our management that the research was conducted for non-commercial purposes and it had no commercial value at the time.

                    Our research has revealed that this process and catalyst is not presently commercialized. By integrating this technology into a large batch processor we believe, but cannot guarantee, that we can accomplish the following:

                    - Approximately one liter of fuel is extracted for every kilogram of plastic.

                    - Some fuel byproduct provides the energy necessary to fuel the process thereby eliminating energy costs.

                    - Due to our catalyst and a highly optimized process, fuel can be extracted in four hours from a large source of raw unwashed, mixed plastics.

                    - The process will be highly automated.

                    - Certain municipalities and companies have agreed to provide raw materials to the Company at no cost, or in some instances, the Company is compensated to accept the raw materials. The catalyst costs less than $0.01/litre. There is no guarantee that the raw materials will continue to be available in the amounts and upon terms satisfactory to the Company in every location that would support a Plastic2Oil processor. Consequently, the cost of feedstock is a variable that the Company will have to contend with.

                    - There is no toxic residue.

                    Our management believes that this technology has significant advantages over biodiesel operations due to their high operating costs, the high costs of raw materials, and the high energy requirements by their processes.

                    John Bordynuik heads up the Company's R&D group responsible for the development, automation of the P2O processors. This group is assembling a 10MT processor for use on land and manufactured a smaller mobile for use on a flatbed trailer. John Bordynuik is actively working with ship engineers to develop an optimized high-volume P2O processor to be installed in oil tankers.

                    At this time the Company will continue forward with formalizing its plans to take the P2O process to market. Leading the business planning process is a group of professionals who have experience in developing business operations in a licensing and franchise environment as well as vast experience real estate development and permitting.

                    The P2O effort will be lead by Robert G. Shoemaker, Geoffrey C. Weber, and Richard M. Haber and they are actively engaged in site selection as well as recruiting other professionals who have participated in nationwide launches of company owned units, licenses, joint ventures and franchises.

                    John Bordynuik Inc Asset Purchase

                    On June 25, 2009, the Company entered into an asset purchase agreement to purchase and assume certain assets of John Bordynuik, Inc., a Delaware corporation. This is an arms-length agreement between the Company and John Bordynuik Inc by President and CEO John Bordynuik, who is the majority shareholder in both the Company and John Bordynuik Inc.

                    Under the terms of the Agreement, the Company issued 809,593 shares of common stock, par value $0.001 per share in consideration for the assets of JBI. The closing of the Agreement occurred on July 15, 2009.

                    The Company used the hardware to immediately service existing clients of the Company which includes processing tapes from NASA. This Agreement will allow the Company to read tapes to realize the revenue of migrating data of customers' tapes at a flat rate 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.

                    Javaco Acquisition

                    On August 24, 2009, the Company and Domark International, Inc. ("Domark") closed a Securities Purchase Agreement whereby the Company purchased 100% of the issued and outstanding common shares of Javaco, Inc. ("Javaco"), a wholly owned subsidiary of Domark, in exchange for $150,000 and the issuance of 2,500,000 shares of the Company's common stock to Domark.

                    In connection with the Agreement, Domark has also assigned $9,997,134 of media credits in print and radio to the Company in exchange for the issuance of 1,000,000 shares of the Company's common stock.

                    JAVACO, Inc., formerly JAVA Company, opened for business in 1997 as a sole proprietorship. Prior to opening JAVA Co., Judith Vazquez, owner and President, worked several years in distribution sales and finally with RMS Electronics/Channel. JAVA Company's initial focus was the sale of used cable TV equipment, including amplifiers and converters to Colombia, Venezuela and Mexico. JAVA Company teamed up with a distributor in Argentina to jointly cover a larger Latin American market. JAVA Company acted as their US office, providing sales expertise and a much needed North American connection with the manufacturers. JAVA Company coordinated the sale, expediting, invoicing and exporting of equipment purchased from the US and Canadian suppliers. JAVACO, Inc. incorporated in March 2000. 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. Early in 2002, JAVACO, Inc. expanded its US business when it hired Tina Tomblin, with over 20 years in the cable television industry in both operations and sales, to manage sales in the United States. Javaco will operate and manage the Company's Plastic2Oil sites in Mexico.

                    Pak-It Acquisition

                    On September 30, 2009, 310 Holdings, Inc. (the "Company") entered into a Unit Purchase and Exchange Agreement (the "Agreement") with Pak-It, LLC, a Florida limited liability company ("Pak-It") and the Pak-It, LLC unitholders (the "Pak-It Unitholders").

                    Pursuant to the Agreement, the Company acquired 100% of the issued and outstanding membership units and all of the assets of Pak-It including Pak-It's wholly owned subsidiary Dickler Chemical Laboratories, Inc., in exchange for the issuance of 625,000 shares of the Company's common stock and the issuance of two secured promissory notes. Pursuant to a loan agreement (the "Loan Agreement"), the Company issued a secured promissory note to a trustee in the amount of One Million Two Hundred

                    Thousand Dollars ($1,200,000) which is due on December 29, 2009 with a 10% interest rate (the "Note"). In addition, the Company has assumed and will satisfy certain liabilities of Pak-It by issuing a note in the amount of Two Million Six Hundred Sixty Five Thousand Dollars ($2,665,000) due on December 29, 2009 with a 10% interest rate (the "Liability Note") collectively the Note and Liability Note are referred to as the "Notes".

                    The Company's Chief Executive Officer, John Bordynuik and the Company have entered into a Pledge Escrow Agreement (the "Pledge"), whereby Mr. Bordynuik has pledged 10,000,000 shares of his holdings in the Company's common stock and the Company has pledged 100% of the issued and outstanding membership units of Pak-It, LLC as collateral for the Notes. In addition, the Notes are secured by security agreements (the "Security Agreements") against (i) the accounts, general intangibles and contract rights; (ii) the inventory; and (iii) the equipment of Pak-It.

                    Pak-It was formed in 2007 to acquire all of the outstanding stock of Dickler Chemical Laboratories, Inc. ("DCL"). DCL was formed in 1968 to manufacture and sell industrial cleaning chemicals regionally (the Philadelphia 'tri-state" area). For about 10 years prior to the acquisition the company had consistently recorded revenues in the $5 million to $6 million range with profits in the $200,000+ range. Pak-It purchased DCL stock in October 2007 and on January 1, 2008 merged the DCL Pennsylvania Corporation into a newly formed Florida corporation of the same name. The company now does business as Pak-Itâ„¢, DCL Solutions, and Vanguard with its administrative and selling office at 221 Turner Street Clearwater, Fl, and the DCL factory leased at 4201 Torresdale Avenue Philadelphia, PA. The DCL factory is situated on about 1.5 acres of land and has nearly 60,000 sqft. of manufacturing space under roof.

                    Using the patented Pak-Itâ„¢ delivery system (liquid cleaner in a water soluble sachet) the company delivers 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-Itâ„¢. Large retailers (like Home Depot and Office Depot) and many national Building Service Contractors already using the product have documented significant cost savings from shipping, training, inventory control and space.

                    Pak-It also produces private label liquid cleaning supplies for a variety of well known companies, including a retail marine supply company and an international company that sells Pak-It's with its pressure washers
                    In June 2009 Pak-It hired a full-time industry seasoned marketing executive who has created a plan known as "50 in 5". The company is presently implementing the plan to achieve annual sales of $50 million within 5 years.

                    Pak-It provides an innovative, technological approach to chemicals, both in terms of portion control solutions and product breadth that constantly seeks to improve quality and consistency. Pak-it also provides an operational focus on logistics that offers individual "kits" designed to meet specific cleaning requirements, delivered directly to each location, while remaining flexible toward meeting other customer needs

                    Pak-It Mission

                    • Grow sales revenues to $50 million over next five years
                    • Continue to expand chemicals offered as PAK-IT

                    • Initial focus on National Retailers and BSCs
                    • Grow relationships with existing accounts

                    - Better understand their requirements,
                    - Use insights to expand into other national markets.

                    • Expand affiliation with the "green movement"
                    • Establish PAK-IT as a private-label brand

                    - Sell directly to consumers or license other companies to do so

                    • PAK-IT offers a two-prong solution
                    - Chemicals with a unique dilution control approach

                    - A comprehensive logistics delivery system

                    • Together they
                    - Fix costs

                    - Reduce spending
                    - Job site portion control

                    - Saves space
                    - Managed inventory

                    - Reduced shrinkage
                    - No trips to portion control devices

                    The Pak-It product is also considered a "green" product for the following reasons:

                    • Environmental Protection Agency (EPA) approved chemicals •

                    • Safer for employees
                    - No exposure to harsh chemicals

                    • Environmental source reduction
                    - No packaging for land-fills

                    Pak- It Benefits

                    • No Waste - Premeasured One Packs™, Water Flakes®, and Quik Tank make perfect solutions without over-mixing.
                    • Save Money - Pay for cleaning strength, not water or expensive dilution-control equipment.

                    • Easy Training - No special instructions, just add one color-coded packet to water and that's it.
                    • Less Storage - Store concentrated packs, not gallon containers or drums.

                    • Inventory Control - Packets are easily counted for inventory and budgeting.
                    • No Special Equipment - Eliminate complicated, trouble-prone dispensing machines.

                    • Mix-and-Match Systems - Build your own systems for unique cleaning applications and facility requirements.
                    • Color Coding - Makes proper identification and staff training easier.

                    Pak-It provides clients:

                    - An innovative, exciting cleaning solution-.
                    - Fixed costs and reduced spending.

                    - Works with the current cleaning system:
                    - Current staff and contractors can seamlessly implement

                    - The new solution is easy to train and implement
                    - Provides better cleaning results

                    - Staff is happy with process/results

                    Industry Overview

                    Data Migration

                    Presently, competitors use off-the-shelf hardware which has limited capabilities to read old computer backup tapes. We have acquired customized hardware that is specifically designed to read old tapes with bit-level mechanical validation. We have been in discussion with many potential clients and they are unable to read their old backup tapes with legacy original hardware.

                    Plastic2Oil

                    Current processes used in the industry require excessive amounts of energy which often make alternative fuels not viable. Recently, many biodiesel facilities have filed bankruptcy because their energy conversion costs exceed the value of the diesel product they produce.

                    In addition to biodiesel there are companies that have announced they will be converting plastic and/or tires to oil using processes that do not utilize a catalyst. Management believes that these companies face the same challenges as the biodiesel producers.

                    In particular these producers have the following challenges:

                    · High-energy requirements;

                    · Very poor energy return;

                    · As oil prices rise, these processes won't necessarily be more viable;

                    · Large plants incur high transportation costs of raw and processed materials;

                    · Algae biodiesel presently costs $32/gallon to produce;

                    · Biodiesel factories are heavily dependent on commodity prices of raw materials and energy prices;

                    Management intends to exploit its technology to overcome the challenges facing alternative energy corporations, in particular the Plastics2Oil process start up cost is considered to be considerably less than other processes that attempt to convert plastic to oil.

                    PakIt

                    Pak-It faces numerous competitors in every product category.

                    • Cleaning chemicals - 326 companies
                    • Carpet cleaning chemicals - 261 companies

                    • Floor finishes - 198 companies
                    • Disinfectants - 228 companies

                    •laundry chemicals - 195 companies
                    • Pressure washing chemicals - 148 companies

                    • Chemical Dispensing Systems - 103 companies

                    The combination of Pak-It and the Company will assure that the Company will continue to focus on strong internal growth. For instance, the Company has relationships with buyers from NASA and other government agencies that will facilitate Pak-It products being tested and hopefully purchased by these large institutions.

                    Revenues

                    During the quarter ended September 30, 2009 we were in transition from the change in ownership as well as acquiring certain assets of John Bordynuik, Inc to commence tape reading operations, acquiring Javaco, Inc, and Pak-It LLC.

                    For the three months ended September 30, 2009, we generated $3,819,656 revenues, and incurred a net loss of $46,790 compared with revenues of $3,699,759 and a net loss of $24,806 for the three months ended September 30, 2008. For the nine months ended September 30, 2009, we generated $10,132,399 revenues, and incurred a net profit of $149,701 for the nine months ended September 30, 2009.

                    Our tape business revenue was used to finance the acquisitions of Javaco, Pak-It, and design, acquire and build Plastic2Oil equipment. We have also scaled up the tape business and purchased the Plastic2Oil (10 MT) hardware and analytical instrumentation.

                    While PakIt and JavaCo have demonstrated stabilized sales, our tape business sales are expected to grow as we continue to invest in equipment and personnel. Growth is directly dependent upon our ability to produce and to reinvest in people and processes.

                    Sales from Plastic2Oil are completely dependent upon our ability to complete the assembly of the 10 MT unit and have independent safety and processes testing completed. Once this has occurred, our sales will be dependent on the volume and price of the fuel we sell in the future.

                    In addition to the sale of fuel, the company expects to create revenue by selling licenses and developing joint ventures and/or partnership for deploying more units for the processing of Plastics2Oil.

                    Licensing fees and selling prices for fuel will be closely linked to the availability of capital as well as the market prices of petroleum-based diesel fuel, the supply and demand of diesel fuel, as well as the tax incentives offered by governments in North America for the production of alternative fuels.

                    Our gross margin is driven by the cost of the feedstock (plastic waste) and other chemical inputs used in our production of fuel. We will initially seek to find plastic through relationships with industries with high waste, with municipalities that 'recycle' but still send plastic to landfills and, when necessary, we will purchase feedstock and other inputs both on the spot market and pursuant to fixed, short-term supply agreements.

                    Our profit margins and financial condition are significantly affected by the cost and supply of raw plastic waste feedstock and other inputs in the commodity markets.

                    Off-Balance Sheet Arrangements

                    We do not have any off-balance sheet arrangements.

                    Critical Accounting Policies

                    We prepare our financial statements in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Our management periodically evaluates the estimates and judgments made. Management bases its estimates and judgments on historical experience and on various factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates as a result of different assumptions or conditions.

                    Stock Based Compensation

                    In December 2004, the FASB issued a revision of SFAS No. 123 ("SFAS No. 123(R)") that requires compensation costs related to share-based payment transactions to be recognized in the statement of operations. With limited exceptions, the amount of compensation cost will be measured based on the grant-date fair value of the equity or liability instruments issued. In addition, liability awards will be re-measured each reporting period. Compensation cost will be recognized over the period that an employee provides service in exchange for the award. SFAS No. 123(R) replaces SFAS No. 123 and is effective as of the beginning of January 1, 2006. Based on the number of shares and awards outstanding as of December 31, 2005 (and without giving effect to any awards which may be granted in 2006), we do not expect our adoption of SFAS No. 123(R) in January 2006 to have a material impact on the financial statements.

                    Comment

                    • Websman
                      Senior Member
                      • Apr 2004
                      • 5545

                      Nice news! JBII closes up 32.94%, which puts my position up by 468.90%. This is shaping up to be a very good year for my accounts. This is just the beginning for this company, in my opinion.





                      JBI, Inc. CEO Reduces Outstanding Common Shares by 12 Million
                      • Press Release
                      • Source: JBI, Inc.
                      • On 8:00 am EST, Tuesday December 8, 2009

                      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."


                      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/.

                      Comment

                      • Websman
                        Senior Member
                        • Apr 2004
                        • 5545

                        Originally posted by Websman View Post
                        And....My little PDGT went down in flames....Looks like I lost that gamble. LOL
                        Looks like I have made up for my PDGT losses and then some...a lot more some....jejeje My accounts balances are on steroids.
                        GO JBII!

                        Comment

                        • Websman
                          Senior Member
                          • Apr 2004
                          • 5545

                          JBII may turn out to be my all time best pick. I'm now up 917%. This is making for a very nice Christmas bonus....The Vulcans are rejoicing.

                          Comment

                          • skiracer
                            Senior Member
                            • Dec 2004
                            • 6314

                            Originally posted by Websman View Post
                            JBII may turn out to be my all time best pick. I'm now up 917%. This is making for a very nice Christmas bonus....The Vulcans are rejoicing.
                            just make sure you dont give back all of those gains. there is always a pullback and some correction of sorts so be careful please.
                            THE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR

                            Comment

                            • IIC
                              Senior Member
                              • Nov 2003
                              • 14938

                              917%...Heck...I'm thrilled w/ 0.917%
                              "Trade What Is Happening...Not What You Think Is Gonna Happen"

                              Find Tomorrow's Winners At SharpTraders.com

                              Follow Me On Twitter

                              Comment

                              • g92069
                                Member
                                • Jun 2009
                                • 63

                                I'm not particularly a religious man....

                                But Jesus, look at JBII again today! My potential profit at this moment is beginning to make me nervous. I have now surpassed my goal this year despite approximately 20K in losses (I'm still learning when to hold 'em and when to fold 'em...still not sure on when to walk away and when to run).

                                What do you think Webs? Others? There has been no recent news and there should be some good news (roll out of P2O machine) coming.

                                Take the profits? Split the difference? Let it ride?

                                What say the more experienced traders here?

                                Thanks,

                                G

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