Everyone who invested at the beginning (outside of JB's personal circle of family and friends) did so for one reason. It was because of JB's claims that he discovered a game-changer that would make all investors heaps of money: a lost and forgotten catalyst that enabled him to convert plastic to oil at far greater profits than what was currently possible by anyone else. JB repeatedly stated in 2009 that he was *already* using his catalyst to make oil that cost him less than $10/bbl to make, and he was *already* selling that cheap oil at WTI - $3.00. This I can support with links, and probably most investors remember this.
His story was even more than that, though I can't find the links at the moment. JB claimed that his ultra-special catalyst could enable *anyone's* plastic pyrolysis processor to make cheap oil. Inventing a novel pyrolyis processor or process wasn't necessary. Logically, it stands to reason this was his story. He never said: "My special catalyst will turn plastic into oil at a cost of $10/bbl, but only if we also invent novel processor technology to make that happen". He was saying that he was *already* using his catalyst to make $10/bbl oil with, presumably, off-the-shelf processors that could be rapidly scaled up to the thousands of processors within a few years.
These were lies that JB told to investors, for the purpose of having them invest in JBI, is available.
It would be easy enough to use JB's own words in court to prove these were the lies he told. No judge or jury would believe that by saying he was already making $10/bbl oil with his processor, that he really meant:
"Well, maybe if I spend *another* $100 million dollars tinkering, I might some day within the next ten years convert plastic to oil for a meager profit".
Nobody, and I mean nobody, would have invested a penny on those terms.
Then of course, JB's words on national television when he appeared on The Pitch. Lies, lies, and more lies. It's fun to watch those old videos of John telling lies in his own words, in his own voice, on national television.
" Host : John, when would you hope to start posting sales?
JB : Now. This week.
Host : Actual revenue?
JB : We’re filling tankers at the site now.
Host : What about SERIOUS CASH flow?
JB : SERIOUS CASH FLOW – you’re looking at a quarter out, really. So you’re looking at Q2."
Great summary of his lies on this promotional website JB used to pump his stock:
http://jbiglobal.blogspot.co.uk/2011/04/ceo-j...pitch.html
His story was even more than that, though I can't find the links at the moment. JB claimed that his ultra-special catalyst could enable *anyone's* plastic pyrolysis processor to make cheap oil. Inventing a novel pyrolyis processor or process wasn't necessary. Logically, it stands to reason this was his story. He never said: "My special catalyst will turn plastic into oil at a cost of $10/bbl, but only if we also invent novel processor technology to make that happen". He was saying that he was *already* using his catalyst to make $10/bbl oil with, presumably, off-the-shelf processors that could be rapidly scaled up to the thousands of processors within a few years.
These were lies that JB told to investors, for the purpose of having them invest in JBI, is available.
It would be easy enough to use JB's own words in court to prove these were the lies he told. No judge or jury would believe that by saying he was already making $10/bbl oil with his processor, that he really meant:
"Well, maybe if I spend *another* $100 million dollars tinkering, I might some day within the next ten years convert plastic to oil for a meager profit".
Nobody, and I mean nobody, would have invested a penny on those terms.
Then of course, JB's words on national television when he appeared on The Pitch. Lies, lies, and more lies. It's fun to watch those old videos of John telling lies in his own words, in his own voice, on national television.
" Host : John, when would you hope to start posting sales?
JB : Now. This week.
Host : Actual revenue?
JB : We’re filling tankers at the site now.
Host : What about SERIOUS CASH flow?
JB : SERIOUS CASH FLOW – you’re looking at a quarter out, really. So you’re looking at Q2."
Great summary of his lies on this promotional website JB used to pump his stock:
http://jbiglobal.blogspot.co.uk/2011/04/ceo-j...pitch.html
