I can certainly see how JBII hit $7/share a few ye
Post# of 43066
Posted On: 04/10/2014 12:54:05 PM
I can certainly see how JBII hit $7/share a few years ago. Mr. Bordynuik publicly announced JBI's ownership of a catalyst which, while getting paid to take waste plastic, could turn that plastic into an oil at a cost of under $10/bbl and JBI could supposedly sell it to refineries for WTI -$3 for which he said Mr. Bordynuik said he had offers in hand from Somerset Refinery and other refineries.
He even tested his claim with the 1kg processor and the 1-ton processor to validate his claims and then purchased the commercial pyrolysis unit and tested that completely. Nobody questioned him or had any reason to question him. Mr. Bordynuik said the only thing left was the air permit from the NYDEC and then the processors would produce 109 bbls/day of oil.
With that story Mr. Bordynuik wove four years ago, shareholders were about to be wildly rich...either that or Mr. Bordynuik was/is a really nasty, dishonest swindler who was making those claims in order to enrich himself. You be the judge.
Shareholders who believe that FUD, bashers and market manipulation are the real cause of JBII dropping should at least consider that a portion of the blame might be self-inflicted by JBI at the hand of Mr. Bordynuik. Certainly a person can see that if Mr. Bordynuik's claims were fraudulent, that he would act exactly has he has been acting in order to give the illusion of continuous progress in order to keep enriching himself. Four years ago all that was supposedly needed was an air permit and supposedly a four-year long (and counting) stream of hiccups are still precluding any results.
He even tested his claim with the 1kg processor and the 1-ton processor to validate his claims and then purchased the commercial pyrolysis unit and tested that completely. Nobody questioned him or had any reason to question him. Mr. Bordynuik said the only thing left was the air permit from the NYDEC and then the processors would produce 109 bbls/day of oil.
With that story Mr. Bordynuik wove four years ago, shareholders were about to be wildly rich...either that or Mr. Bordynuik was/is a really nasty, dishonest swindler who was making those claims in order to enrich himself. You be the judge.
Shareholders who believe that FUD, bashers and market manipulation are the real cause of JBII dropping should at least consider that a portion of the blame might be self-inflicted by JBI at the hand of Mr. Bordynuik. Certainly a person can see that if Mr. Bordynuik's claims were fraudulent, that he would act exactly has he has been acting in order to give the illusion of continuous progress in order to keep enriching himself. Four years ago all that was supposedly needed was an air permit and supposedly a four-year long (and counting) stream of hiccups are still precluding any results.
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