Posted On: 06/11/2014 9:29:29 AM
Post# of 43065
"I think it was a bit more than an expectation. these things can be easily figured out before you spend $60 Million. I can't believe that JBI did not do reasonable Cost/ Benefit analysis beforehand Further, I can't believe that investors find that acceptable."
Mr. Bordynuik certainly claimed he could already make oil for under $10/bbl for which said he had offers in hand (ostated as being from Somerset Refinery at the 2010 AGM) to buy it for WTI-$3.
The cost/benefit is even later...what's usually done at an early stage is what's called a "proof of concept." In JBI's case that would have been showing that representative plastic could be processed by pyrolysis with the secret catalyst and that the resulting oil had a market value of WTI-$3.
Intuitively all investors know about the proof of concept even if they don't know what it's called. Since Mr. Bordynuik tested the 1Kg and the 1ton processor and then claimed and continued to claim $10/bbl cost to WTI-$3 value, investors had every reason to believe those cost and price claims were derived from the testing, not a just fantasy generated by Mr. Bordynuik's brain as it turned out.
Mr. Bordynuik certainly claimed he could already make oil for under $10/bbl for which said he had offers in hand (ostated as being from Somerset Refinery at the 2010 AGM) to buy it for WTI-$3.
The cost/benefit is even later...what's usually done at an early stage is what's called a "proof of concept." In JBI's case that would have been showing that representative plastic could be processed by pyrolysis with the secret catalyst and that the resulting oil had a market value of WTI-$3.
Intuitively all investors know about the proof of concept even if they don't know what it's called. Since Mr. Bordynuik tested the 1Kg and the 1ton processor and then claimed and continued to claim $10/bbl cost to WTI-$3 value, investors had every reason to believe those cost and price claims were derived from the testing, not a just fantasy generated by Mr. Bordynuik's brain as it turned out.
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Yes, I understand your penny stock also is the real deal, created with the inventiveness of Edison and destined to be the next Microsoft. Yes, I understand that the delays are also only because your company is making their product and/or technology even more revolutionary.
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