THOROLD, Ontario, October 12, 2012 (GLOBE NEWSWIRE) -- JBI, Inc. ("JBI" or the "Company") (OTCQB:JBII) has become aware of the improper release of a confidential executive summary prepared by SAIC Energy, Environment & Infrastructure, LLC (“SAIC”) relating to SAIC’s May 2012 evaluation report on JBI’s Plastic2Oil® (“P2O®”) technology.
As previously announced by JBI on May 15, 2012, the SAIC report was commissioned by JBI as an independent review of its technology, process and business model. However, neither the SAIC report nor the executive summary should be relied on as management’s analysis or opinion regarding JBI’s current strategic plan or its business or financial prospects.
Furthermore, the conclusions drawn by SAIC were based upon a number of assumptions made at the time of the report that may be outdated or incorrect or that may prove to be incorrect in the future. Management’s current assumptions may differ and additional events, risks and uncertainties may cause JBI’s actual results and performance to differ from SAIC conclusions or projections.
No, they are responsible for the conditioning by unsubstantiated forward-looking statements based on their own BS.
The one that continues to make me sick is the release of the SAIC PR followed by a retraction that basically says don't rely on the SAIC info for anything going forward.
http://www.plastic2oil.com/site/news-releases...ce-changes
http://www.plastic2oil.com/site/news-releases...ion-report
JBI encourages investors and potential investors to look to the statements and information contained in JBI’s press releases and in its periodic reports filed with the Securities and Exchange Commission (“SEC”) when making any investment decisions about JBI’s securities.
LOLOLOL
The last statement says rely on our glowing PR's. Unless we retract the information in our glowing PR's at a later date.
Note that they never really clarified which part of the report should be ignored or why. This was a giant crap taken on the heads of all investors.
I will be surprised not to see a lawsuit related to the SAIC PR and subsequent retraction.
The noise coming from the other side is also laughable, but I don't rely on them for information. I rely on the company.
And the "info" out of the company makes me sick.
The one that continues to make me sick is the release of the SAIC PR followed by a retraction that basically says don't rely on the SAIC info for anything going forward.
http://www.plastic2oil.com/site/news-releases...ce-changes
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 process. The report also contains a pro-forma financial assessment of the capital costs and earnings for the P2O 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 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,” stated John Bordynuik, founder of the Company. “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.”http://www.plastic2oil.com/site/news-releases...ion-report
JBI Comments on Improper Release of SAIC Evaluation Report
LOLOLOL
The last statement says rely on our glowing PR's. Unless we retract the information in our glowing PR's at a later date.
Note that they never really clarified which part of the report should be ignored or why. This was a giant crap taken on the heads of all investors.
I will be surprised not to see a lawsuit related to the SAIC PR and subsequent retraction.
The noise coming from the other side is also laughable, but I don't rely on them for information. I rely on the company.
And the "info" out of the company makes me sick.
Plastic2Oil, Inc. (PTOI) Stock Research Links
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