I approach this from the angle that there are a lo

I approach this from the angle that there are a lot of penny stock swindlers out there and most of them claim some great product or technology. Ten/fifteen years ago I didn't have a clue how rampant fraud was in the pennies.

So I see Mr. Bordynuik pop up claiming to be able to make a crude oil equivalent for under $10/bbl and claim that he had offers in hand to buy that for near West Texas Intermediate. I've seen a number of these penny stocks pushing a pyrolyis 'technology'. The concept of turning garbage to gold makes dollar signs appear in investors' eyes and pyrolysis really does turn carbon-based material into an oil. It's a half-truth which sells stock.

My initial reaction was to check the price of the plastics needed, LDPE, PP and HDPE and I quickly concluded that even if 100% conversion of this scrap plastic to diesel was possible, the so-called technology would struggle with break even and certainly not yield 90% gross margins. The specific plastics needed catagorized as "waste" gave me a second data point that Mr. Bordynuik was not an honest man since those types can be easily recycled if actually separated. It took be about half an hour to conclude that JBI was just another penny stock scam. As these always go, there are always delays as the company says it's working to make the product even more revolutionary and makes excuses why it hasn't produced results. I pointed that out from the beginning.

Then I see Mr. Bordynuik book the media credits at $10M against the advice of his CFO and work to get the auditor to sign off on it. He used the valuation to solicit investment without disclosing that the market value probably wasn't $10M, let alone the cost. Nobody can go through all that and still lack a complete understanding. It's not possible.

In addition to lying about media credits, he lied about patents and backed off of the $10/bbl claims of WTI-$3 without a new number. If it was commercially viable, anyone with the 'technology' would have been shouting those numbers from the rooftops.

So this dishonest man just happened to crack the code for profitable plastic pyrolysis by stumbling upon the recipe just as he purchased controlling interest in his second shell?!? What's the most logical alternative explanation??

So here we are in year six and we're still 'on the cusp' of results, currently that's trying to sell processors. Every change or delay is considered "progress" or "all startups make mistakes"...yet not one peep from JBI as to what obstacles still need to be overcome. We still don't know what's blocking the processors from running...and now we don't know what point JBI is in any potential processor sale. I guarantee the problem is that they haven't found an actual customer who could benefit from a processor at any price, at least above the processor salvage value cut up as scrap metal.

As you already know, in the face of silence from the company, shareholders have free reign to speculate all the potential paths to profitability. Invariably shareholders will find a scenario which works in their own minds. Even though I strongly feel that an honest company would be open with shareholders and that the company staying silent on important material information signals dishonesty, what I recommend often is that shareholders press the company for the answers they're not getting. At least that way they can start to see that the company isn't being straight with them.

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.