This is about two years old...and I don't want to update it with all the new things.
First 'operations' had started in June of 2009.
OK, 'operations' was only firing up a 1kg pyrolysis machine from Blest but JB can produce diesel for $10/bbl.
Ok, that claim was merely pulled from JB's imagination and is a complete lie but JB acquired $10 million in media credits.
Ok, the media credits were artificially booked to inflate the book value But JB filed for patent protection for his P2O.
Ok, the filing of a patent press release was a lie but but the "land rush" was starting with Sousa.
Ok, the area development agreement with Sousa for 45 sites wasn't real but JBI would clean up the Pacific Garbage Patch with Heddle Marine.
Ok, the Heddle Marine deal wasn't real but four separate companies put down deposits for their own P2O plant joint ventures.
Ok, the four joint venture deals was fake too but JB had purchased Javaco to allow for rapid entry into South America
Ok, no intention of going into South America but Pak-It is immediately profitable and is worth paying shareholders' money.
Ok, Pakit was a dud and a money drain but the tape business is profitable as two days worth of sales shows and that was worth shareholders' money to pay himself.
Ok, the tape business is a dud too but the blending facility will allow JB to blend spec fuel and that was worth shareholders' money to pay his uncle.
Ok, the blending facility sits idle but the recycling facility is a money magnet that will provide free plastic while making money.
Ok, the recycling facility isn't being used but JBI will begin production in the first quarter of 2010.
Ok, that was merely delayed but JBI would start production in the second quarter of 2010 and even said so in the 10-K.
Ok, that was merely delayed and now he needs a 'simple air permit' but expects commercial operations in the third quarter.
Ok, just delayed with no explanation but JB has an offer from Somerset Refinery to buy his pyrolysis oil
Ok, that was a lie since Somerset had been shut down for months but American Refinery Group is offering to buy.
Ok, that was just an offer on their website for real crude oil and not a real offer for JB but but JB expects to be selling to independent gas stations in the fourth quarter.
Ok, no sales to independent gas stations but commercial operations have commenced.
Ok, the 2nd Q 10Q says JB was waiting to make sure commercial operations were imminent before purchasing the building in March 2011 but now it really has commenced.
Ok, commercial operation hasn't commenced but JB signed an agreement with an undisclosed party to purchase naphtha.
Ok, JB won't produce any naphtha but JB has a signed purchase order with Oxy Vinyls for plastic derived oil.
Ok, the Oxy Vinyls order was never filled but JB is selling petroleum distillate to Coco Aslphalt.
Ok, the petroleum distllate isn't derived from plastic but JB gets paid to take plastic.
Ok, JB doesn't get paid to take plastic but JB signed a deal with RockTenn for free plastic.
Ok, the RockTenn waste raggertail is only 20% plastic and plastic is an unknown part of the rest of the RockTenn landfills but JB spent 2011 enhancing the processor
Ok, the processor still sits idle even after a second round of stack test and permitting but JB has a deal to sell to Indigo and XTR Energy
Ok, XTR Energy requires transportation fuel that meets Canadian specifications and JB told them to expect it by Q2...and JB wants to "blend" in real fuel from third parties to meet demand.
Ok, the processor still sits idle and JB is simply re-selling petroleum products but investors say JB is learning from his mistakes
Ok, he's not learning so much as he's lying but the lying is working with volume up and the stock up over three times from last year
Touche'
Since then:
- Improved catalyst
- Enhanced processor to double output
- Modular design
- Pre-melt
- Ram Feed
- Cyclone
- HTF
- New catalyst to take 20% PET
- Processor #2 fully operating in Feb 2012 (not really)
- Processor #3
- Focus on processor sales
Mr. Bordynuik kept putting out story after story of progress. There's a distinct difference between 'progress' and 'results'. As long as investors don't demand results, they're going to stay in purgatory. Mr. Bordynuik will keep JBI alive as long as the inflow of cash from investors can be sustained.
First 'operations' had started in June of 2009.
OK, 'operations' was only firing up a 1kg pyrolysis machine from Blest but JB can produce diesel for $10/bbl.
Ok, that claim was merely pulled from JB's imagination and is a complete lie but JB acquired $10 million in media credits.
Ok, the media credits were artificially booked to inflate the book value But JB filed for patent protection for his P2O.
Ok, the filing of a patent press release was a lie but but the "land rush" was starting with Sousa.
Ok, the area development agreement with Sousa for 45 sites wasn't real but JBI would clean up the Pacific Garbage Patch with Heddle Marine.
Ok, the Heddle Marine deal wasn't real but four separate companies put down deposits for their own P2O plant joint ventures.
Ok, the four joint venture deals was fake too but JB had purchased Javaco to allow for rapid entry into South America
Ok, no intention of going into South America but Pak-It is immediately profitable and is worth paying shareholders' money.
Ok, Pakit was a dud and a money drain but the tape business is profitable as two days worth of sales shows and that was worth shareholders' money to pay himself.
Ok, the tape business is a dud too but the blending facility will allow JB to blend spec fuel and that was worth shareholders' money to pay his uncle.
Ok, the blending facility sits idle but the recycling facility is a money magnet that will provide free plastic while making money.
Ok, the recycling facility isn't being used but JBI will begin production in the first quarter of 2010.
Ok, that was merely delayed but JBI would start production in the second quarter of 2010 and even said so in the 10-K.
Ok, that was merely delayed and now he needs a 'simple air permit' but expects commercial operations in the third quarter.
Ok, just delayed with no explanation but JB has an offer from Somerset Refinery to buy his pyrolysis oil
Ok, that was a lie since Somerset had been shut down for months but American Refinery Group is offering to buy.
Ok, that was just an offer on their website for real crude oil and not a real offer for JB but but JB expects to be selling to independent gas stations in the fourth quarter.
Ok, no sales to independent gas stations but commercial operations have commenced.
Ok, the 2nd Q 10Q says JB was waiting to make sure commercial operations were imminent before purchasing the building in March 2011 but now it really has commenced.
Ok, commercial operation hasn't commenced but JB signed an agreement with an undisclosed party to purchase naphtha.
Ok, JB won't produce any naphtha but JB has a signed purchase order with Oxy Vinyls for plastic derived oil.
Ok, the Oxy Vinyls order was never filled but JB is selling petroleum distillate to Coco Aslphalt.
Ok, the petroleum distllate isn't derived from plastic but JB gets paid to take plastic.
Ok, JB doesn't get paid to take plastic but JB signed a deal with RockTenn for free plastic.
Ok, the RockTenn waste raggertail is only 20% plastic and plastic is an unknown part of the rest of the RockTenn landfills but JB spent 2011 enhancing the processor
Ok, the processor still sits idle even after a second round of stack test and permitting but JB has a deal to sell to Indigo and XTR Energy
Ok, XTR Energy requires transportation fuel that meets Canadian specifications and JB told them to expect it by Q2...and JB wants to "blend" in real fuel from third parties to meet demand.
Ok, the processor still sits idle and JB is simply re-selling petroleum products but investors say JB is learning from his mistakes
Ok, he's not learning so much as he's lying but the lying is working with volume up and the stock up over three times from last year
Touche'
Since then:
- Improved catalyst
- Enhanced processor to double output
- Modular design
- Pre-melt
- Ram Feed
- Cyclone
- HTF
- New catalyst to take 20% PET
- Processor #2 fully operating in Feb 2012 (not really)
- Processor #3
- Focus on processor sales
Mr. Bordynuik kept putting out story after story of progress. There's a distinct difference between 'progress' and 'results'. As long as investors don't demand results, they're going to stay in purgatory. Mr. Bordynuik will keep JBI alive as long as the inflow of cash from investors can be sustained.
Plastic2Oil, Inc. (PTOI) Stock Research Links
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.
