and there was NO PROGRESS from R&D efforts from th

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and there was NO PROGRESS from R&D efforts from that interview date onward!

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According to the company the only progress has been the size of the machine not the conversion rate made possible by the catalyst.

This is the 2010 10K http://www.sec.gov/Archives/edgar/data/138110...10_jbi.htm :

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Since December 2009, IsleChem has conducted extensive chemical, analytical and process engineering testing for our P2O process. IsleChem has performed more than 60 small-scale runs of various types of multicoloured, mixed plastic feedstock. After analyzing the energy consumption, residue, off-gas, and material balance, IsleChem determined that our P2O process is repeatable and scalable. In confirming the validity and reliability of the P2O process, IsleChem provided the following information regarding the fuel product composition and process emissions:

· JBI’s P2O solution is repeatable and scalable.

· Approximately 85-90% of the hydrocarbon composition in the feedstock is converted into a “near diesel” fuel.

· Approximately 8% of the hydrocarbon composition in the feedstock is converted to a usable off-gas similar to natural gas.

· Approximately 2% of the feedstock remains in the processor as a residue. This analyzed residue contains various metals from coloring agents, a small amount of carbon, and other plastic additives that were originally in the feedstock plastic.

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This is last weeks 10Q http://www.sec.gov/Archives/edgar/data/138110...il10q2.htm :

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Through our proprietary process Fuel Oil No. 6, Fuel Oil No. 2, and Naphtha are condensed from the reactor through the remainder of the process. The fuel output is then transferred to storage tanks automatically by the system. Our process is mainly operated by an automated computer system that controls the conveyor feed rate, system temperatures, off-gas systems and the pumping out of newly created fuel to storage tanks. The plastic to liquid fuel conversion is approximately 86% by weight. Therefore, 20 tons of plastic would be processed into approximately 4,100 gallons of fuel .

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It's not debatable. The catalyst has always been the key asset in PTOI's intellectual property portfolio and it's time to generate some revenue:

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Current processes used in the industry require excessive amounts of energy which often make alternative fuels not viable. Recently, many biodiesel facilities have filed bankruptcy because their energy conversion costs exceed the value of the diesel product they produce.

In addition to biodiesel there are companies that have announced they will be converting plastic and/or tires to oil using processes that do not utilize a catalyst . Management believes that these companies face the same challenges as the biodiesel producers.

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http://www.sec.gov/Archives/edgar/data/138110...09_jbi.htm