I agree. And the thing about working toward a viable product is not the same as representing to investors that there was already a process which could make oil for under $10/bbl which could then be sold for $80/bbl. That's like my soliciting investment by representing that I've discovered the lost city of gold and then telling investors I'm using their money to look for the lost city of gold.

In regards to the "is currently qualifying the JBI 'Flagship Processor' for sales to its clients"...you're right that we need to make assumptions. However it's not hard for a company to be crystal clear in their communication. If you see a company write a good-sounding statement which has any multitude of meanings, you can be 100% sure the company is working toward bamboozling the reader. For example, does 'qualifying' mean they're testing feedstock for a specific customer...or does it mean they're examining the welds on the processor to determine if the processor would withstand transportation should a customer step up and buy one??

"The management of this company has been a joke at shareholders' expense."

I agree with most of what you've said, but personally I would have used a word other than "joke." Fraud is serious business in the pennies. It's clear that Mr. Bordynuik put significant and serious effort into deceiving investors. "Joke" suggests it was merely incompetence.