Quote:Unfortunately it's worthless and Mr. Bordynuik personally raked in (tens of?) millions of dollars by deceiving investors with his fake claim of $10/bbl crude oil with offers of WTI-$3.
As of today, this is true. The company has not shown anything that proves otherwise.
The last we knew (2013) JB was still trying to get the best performance he could out of the Flagship Processor (FP) and was having problems teaching others how to do it.
The performance is extremely questionable. We know very little about the inputs. HTF and purchased plastic seem to be what is required based on the most recent filings. Who knows how much of each. Who knows how much the input costs vs. the value of the output. The company has not made this clear. That is typically an indication that the results are poor.
So the engineering firm that has been engaged "is currently qualifying the JBI 'Flagship Processor' for sales to its clients."
What does that mean? We can assume it means that they are taking plastic from the potential clients and running it through the machine that has recently been fixed. We can assume that it means that they are looking at these clients to see it they can provide the necessary quantities of feedstock that enable the machine to run continuously, a key aspect of making the system run successfully.
As I have said, are there any customers for the FP that can meet the requirements imposed? What guarantees can the company provide to these customers that the system will not continue to break down?
"The Company has refined its 'Flagship Processor' to commercial ready standards and it is ready for sale."
We can only hope, but we have no idea what that means. What, exactly, is the state of the FP and what, exactly, is it capable of doing?
Onward through the fog.
So happy that there are so many here that have no doubts that the technology will be successful. What DD have these people been able to do that everybody else have not been able to do? Do they have inside information? That's what it would take to make them have "no doubts."
Everything filed by the company leads to nothing but doubts. It doesn't help that Heddle declared more openness and, once again, we find ourselves with management that does not execute on their public statements.
Shareholders deserve more transparency. The management of this company has been a joke at shareholders' expense.
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