Sure Golfgod, I'll answer. Keep in mind that when
Post# of 43064
I'm interested in scam stocks and I firmly believe that Mr. Bordynuik engineered JBI as a scam from the very beginning. That's why I post. I also learn thing along the way and I hope that will serve me in identifying stocks to avoid in my investments. That's showing some promise.
For an example of a benefit unrelated to my investments, I was warning people about USSE after doing some research about their pyrolysis process. The math for the heat of combustion didn't work out with what USSE was saying. In the process of doing the math, I also saw that the output oil from pyrolyzing soybeans would be about 30% oxygen and that creates a lot of compounds in the oil which makes it worth much less than transportation fuels and it's not easily possible to separate the components.
Leveraging that, it only took me half an hour in researching JBI to see that Mr. Bordynuik's secret catalyst was worthless regardless of performance of that catalyst. If mixed plastic was used, JBI would have the same issues in the output oil as USSE so the only way to truly get diesel or naptha would be to use hydrocarbon-only plastic scrap and the market value for those scrap plastics makes conversion to diesel a negative value process.
At the same time I was warning people on JBI's message board that hydrocarbon-only plastics at a high cost were needed, Mr. Bordynuik was showering shareholders with information about how he would get paid to take plastics and that the composition didn't matter. Well, when he got the NYDEC permit, he was only allowed to use hydrocarbon-only plastics...and a couple of years later he disclosed to shareholders that the company needed to pay for plastics...except now the price wasn't disclosed but constant lip service seemed to convince shareholders that the cost was low.
So was I just so smart while Mr. Bordynuik was stuck on stupid for not knowing the information I knew and was posting, just like he ignored everyone smarter than he was about the valuation of the media credits?? Well, Mr. Bordynuik certainly tested plastics so he would certainly know 100% whether his baseless claims turned out to be true or not...yet he withholds that information from investors. Does that seem like someone who is stupid...or rather deceitful?
Do I have anything good to say about someone whom I believe is a consummate swindler?? Not really. Maybe someone could say of Bernie Madoff that he could make a good cup of coffee but overall that wasn't good either. Likewise the die-hard longs downplay the bad. It's clear to me that Mr. Bordynuik put in effort to dishonestly push through a fake valuation of the media credits and that he found an auditor to sign off on it...and pushed so hard for that auditor with a drinking problem for reasons unrelated to the competence of the auditor. That should make the longs think.
So a question for you...do you believe Mr. Bordynuik's claims of being able to make a product for under $10/bbl and having offers to buy it for WTI-$3/bbl had any reasonable basis?