The 10K makes it clear that they were overwhelmed with feedstock supply.  So much so, it was a challenge dealing with it.

I'm not convinced we need a COO myself.  Couldn't the CEO be wearing two hats right now?  It's not like he's managing a complex multi-location organization like other CEOs.  We have one location right now.  How much was his salary part of the COGS line?  Since they were able to make fuel for $2.09/gallon even at these low levels, despite all the temporary costs, trials, stack test, etc. etc.....clearly plastic feedstock cost isn't that high and certainly not high enough to justify a COO at this time IMO.  I like that they axed costs down enough to see a $750,000 operational cash burn reduction in a single quarter.  That was the second sequential full quarter with the new management team and the first to compare to a prior quarter.  If the COO was responible for the $750,000 reduction, then kudos to him, though I doubt it.

Would love to see another $750,000 reduction in Q1 down to $1.5 million ($500,000 per month) before any gross profits from fuel sales lowers it even further.  At $500,000 cash burn per month, cash flow positive becomes a lot easier.

Now axe that $500k further with gross profits from fuel sales, and I think the market will reward JBII quite well even before cash flow positive.  A severe cut in cash burn will make numbers geeks salivate.  (and in the end, fundamental investiing is a numbers game first and foremost)