John was optimistic in his statements. This was a time when he was raising money. Everyone on Wall Street does that. If you're selling something (shares) you paint the best possible scenario... advertising 101. Plus, perhaps all of John's statements may still become reality if you let the sector and technology evolve. If a baseball player told you they could hit a home run, you watched them play a game and they hit a triple but no homerun... Are they a liar? Let them play out the season and they just might.

Running the process is expensive for jbi. It's like they developed an automatic sheep shearing machine but have no sheep. In fact they have to pay sheep herders to bring their sheep to demonstrate the process. It makes much more economic sense to sell a sheep herder a machine than run it themselves.

I've done the numbers and there is a lot of upfront money and risk needed to run the prox themselves. While I do not believe Niagara can make oil for $10/barrel... It may be closer to reality for the right proc buyer who has all the feedstock and infrastructure. This statement was made before John knew certain things... like how HTF is required.