My original post that was taken out of context fol
Post# of 43066
Posted On: 05/18/2014 2:39:25 PM
My original post that was taken out of context follows.
Quote:
There are many JBI longs (myself included) that continue to believe Mr. Bordynuik's intentions remain as they were at the beginning in 2010: advance a technology for turning waste plastic into ultra-low sulphur fuels and monetize the technology. How far have we come? How close are we?
JBI shareholders have seen the development of the processors over the last 4 years. P3 is the "flagship version" and was extensively tested last Fall, 2013 (see the Dec. 2013 AGM transcript).
All along the way (from NYSDEC permits to processor #3) there have been delays, pivots in business plan, noise and interference. Now it appears that selling processors is a better business model than sourcing feedstock, transporting, and shredding it. As a result JBI has pivoted from operations and fuel production, to selling machines.
From JBI's very first fuel sale to Oxy-Vinyl in the spring of 2011 to becoming a US Steel supplier to Crayola coming on board in 2013, there have been time lags that go along with fuel testing, obtaining vendor status, and forging partnerships with companies based on JBI's clean technology.
Delays are the nature of the beast with start-ups, but JBI's technology has never been invalidated by third parties, only supported.
In December Heddle tells us the company is in negotiations for the sale of processors. I doubt a successful businessman like Heddle would lie about that, and I understand his silence if it is necessary to accomplish goals. Come to think of it, even Rauber promised "transparency."
Selling processors is an undertaking that is likely a 6-8 month process... with all that is involved.
I believe JBI is getting closer to sales. I continue to trust that Rick and John will execute. We will get an update next week with the 10K.
I will re-assess if there are no sales by mid-August, about 90 days from now.
Long story short: there has been too much third party validation for me to give up now. I understand your pain but am holding and confident that JBI will sell processors.
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