I hate to be a scrooge, but I need to bring up this RKT raggertail issue again.
Every time I bring it up I'm told that raggertail is not the main source of plastic waste from RKT. And I am pointed back to the letter I got from John Stakel saying that it is only half of the plastic waste that RKT generates.
But JBII spent a lot of time developing the premelt to address raggertail, specifically. Why would that have been necessary if RKT did not expect that raggertail to be processed along with their other plastic waste?
During the Q3 and Q4 of 2011, the Company successfully completed the fabrication, installation and testing of the plastic pre-melt system. The pre-melt system is now capable of accepting mixed, unshredded plastics in addition to plastics that are comingled with various metals. The pre-melt system operates from the waste heat of the original P2O reactor system and has the ability to separate the comingled metals from the plastic. This capability became especially critical for processing RockTenn material such as raggertail.
I wish the company would start being more transparent about the state of the business. It's been 5 months since the announcement that processor number 2 was completed. And all we've seen is a report that at the end of Q3 things were looking rosy and it was carrying forward to Q4.
But the share price does not reflect a rosy picture. It does not suggest that things kept moving along at the rate they saw at the end of Q3 and moving into Q4.
I don't know why shareholders are feeling warm and comfy right now. That type of claim - we had problems due to contaminated feedstock, but it's all fixed now and things are great - coming right at the end of a quarter sounds very hollow to me.
As a shareholder.
I shouldn't have to be the only shareholder on this board trying to hold the company's feet to the yule log fire.
I hope everybody has a Merry Christmas with family. There are definitely things more important than JBII.