Given Bordynuik's public admissions in the OSC set

Given Bordynuik's public admissions in the OSC settlement to lying to investors and acting illegally from 2008 through 2011, and given the facts of the SEC's fraud case against Bordynuik and the company, and given all of the documented lies over the last five years...

it goes far beyond the management just being "incompetent or egotistical".

In fact, JBI's failure has nothing to do with management being incompetent or egotistical, though that may indeed describe its character. It's because it JBI is a scam that never had any true value.

For god's sake, management has admitted to repeatedly lying to investors (the legal definition of "fraud" ) and committing crimes against their interests. Bordynuik is a self-confessed liar, fraudster, and crook, and Heddle has voluntarily gotten into bed with him.

If investors are choosing to ignore management's confessions to being liars, fraudsters, and crooks, then there's nothing more to be said other than they have knowingly and voluntarily donated their money to self-admitted crooks running a scam.

Though I think the money would have served a better purpose if donated to a real charity rather than to millionaire con men, that's just my opinion.