The situation with JBII is about the same as seein
Post# of 43064
Posted On: 04/25/2014 2:21:01 PM
The situation with JBII is about the same as seeing someone saying they're selling Rolex watches on the street corner for $40. A buyer can choose to believe the vender, they can listen to the bystanders warning them that the Rolex's aren't authentic, they can ask the vender for evidence or they can wait until the watch proves itself to be a Rolex.
The bystanders providing the warnings don't have any proof that the watches aren't real Rolex watches so it's pointless to ask them for proof. The buyers can wait for the vender to speak up and provide evidence of authenticity but the vender just smiles back at them and says nothing.
In JBI's case, it's clear that hydrocarbon-only plastics (HDPE, PP, LDPE) are needed to make hydrocarbon-only fuel and, in fact, that's all JBI is allowed to use per the permit. The bystanders can point that out to the buyer that the only way to get those scrap hydrocarbon-only plastics is to buy it at market prices of around $800/ton, the price at which recyclers are buying it. That price virtually eliminates any chance JBI has of making a profit. Just like a bystander could point out that a Rolex vender can only get authentic watches at wholesale prices well above $40.
Mr. Bordynuik says he can get those plastics needed for free or very cheaply--implying that he somehow beat the market for scrap/waste HDPE, LDPE, PP. But he offers no evidence. Just like the Rolex vender selling watches on the street for $40 implicitly says he found a way to beat the market for wholesale Rolex watches...but won't offer any evidence.
The market price for scrap plastics is pretty clear proof that JBI's pyrolysis is worthless...but that doesn't fit with many investors' beliefs that the process is valuable so they discard that evidence while continuing to demand proof from the skeptics. Mr. Bordynuik has access to the real time results and nobody demands to see whether or not those results back up Mr. Bordynuik's claims. Mr. Bordynuik stays silent and smiles while pocketing all the money investors contribute.
An investor in JBI should realize that it's highly improbable that Mr. Bordynuik is able to beat the plastic market...and it's highly improbable that Mr. Bordynuik just happened to be the first person to ever make plastic pyrolysis profitable. Yet nobody wants to ask Mr. Bordynuik about the cost of the feedstock and the resulting value of the corresponding product.
If a shareholder wanted to do good DD, they should directly ask JBI about the process results or ask what obstacles still stand in the way of those processors running at near capacity. JBI has just started it's *sixth* year since Mr. Bordynuik purchased the shell and eight months ago the business plan shifted to processor sales...all without ever producing a profitable drop. Do you think it might be time to press JBI for an answer or two??
The bystanders providing the warnings don't have any proof that the watches aren't real Rolex watches so it's pointless to ask them for proof. The buyers can wait for the vender to speak up and provide evidence of authenticity but the vender just smiles back at them and says nothing.
In JBI's case, it's clear that hydrocarbon-only plastics (HDPE, PP, LDPE) are needed to make hydrocarbon-only fuel and, in fact, that's all JBI is allowed to use per the permit. The bystanders can point that out to the buyer that the only way to get those scrap hydrocarbon-only plastics is to buy it at market prices of around $800/ton, the price at which recyclers are buying it. That price virtually eliminates any chance JBI has of making a profit. Just like a bystander could point out that a Rolex vender can only get authentic watches at wholesale prices well above $40.
Mr. Bordynuik says he can get those plastics needed for free or very cheaply--implying that he somehow beat the market for scrap/waste HDPE, LDPE, PP. But he offers no evidence. Just like the Rolex vender selling watches on the street for $40 implicitly says he found a way to beat the market for wholesale Rolex watches...but won't offer any evidence.
The market price for scrap plastics is pretty clear proof that JBI's pyrolysis is worthless...but that doesn't fit with many investors' beliefs that the process is valuable so they discard that evidence while continuing to demand proof from the skeptics. Mr. Bordynuik has access to the real time results and nobody demands to see whether or not those results back up Mr. Bordynuik's claims. Mr. Bordynuik stays silent and smiles while pocketing all the money investors contribute.
An investor in JBI should realize that it's highly improbable that Mr. Bordynuik is able to beat the plastic market...and it's highly improbable that Mr. Bordynuik just happened to be the first person to ever make plastic pyrolysis profitable. Yet nobody wants to ask Mr. Bordynuik about the cost of the feedstock and the resulting value of the corresponding product.
If a shareholder wanted to do good DD, they should directly ask JBI about the process results or ask what obstacles still stand in the way of those processors running at near capacity. JBI has just started it's *sixth* year since Mr. Bordynuik purchased the shell and eight months ago the business plan shifted to processor sales...all without ever producing a profitable drop. Do you think it might be time to press JBI for an answer or two??
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