FORM 8K/A Filed http://jbii.ir.edgar-online.com/f

FORM 8K/A Filed

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On July 9, 2012, JBI, Inc. (the “Company”) filed a Current Report on Form 8-K to disclose that it had announced the planned closure of its Javaco Inc. subsidiary in Columbus, Ohio.  At that time, the Company was unable to estimate the expenses and charges to be incurred in connection with this action.   The Company now estimates that it will incur total pre-tax charges of approximately $65,000 in connection with this action.   This includes an estimate of approximately $38,000 of pre-tax cash charges for severance, lease payments and related cash expenditures.  In addition, total pre-tax charges include approximately $27,000 of delinquent accounts receivable and other non-cash charges.  The Company recognized $38,000 of these total charges during the quarter ended June 30, 2012 and expects to recognize the remaining charges in the third quarter ended September 30, 2012.  The Company liquidated Javaco’s inventory and fixed assets in July 2012 for proceeds of approximately $180,000.

This current report on Form 8-K/A  contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including the expected financial effect of the closing including estimate of costs. Statements that may be considered forward-looking include statements incorporating terms such as "expects," "believes," "intends," “estimates”, “forecasts,” "anticipates," “may,” “should”, and similar terms that relate to future events, performance, or results of the Company. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the historical experience of the Company and management's present expectations or projections, including unexpected adjustments made in connection with the preparation and review of the Company’s financial statements. Management believes these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations. Further, forward-looking statements speak only as of the date they are made, and management undertakes no obligation to update publicly any of them in light of new information or future events.