I find it interesting how investors in JBI take vague, ambiguous company-promulgated information and spin it in the most positive way, in some cases working backwards from dubious numbers to yield fantastic results (which have not been shown in Financial Statements). In most cases it results in conclusions that the company JBI cannot be legally held responsible for. The best example I can think of is working backwards from the leaked SAIC document EBITDA number. The fact is that JBI can claim that that document is completely false. They have only hinted that it might be true. All it takes is a rudimentary knowledge of accounting and any experience at all in this kind of analysis to question it. Another example is the supply contracts they signed about a year ago. The assertion was made that they now had customers for their entire output, with no basis at all. Balderdash. This plastic supply issue is another example. Just because they are building a third plant does not mean that they have enough plastic to supply it. $10/ barrel cost for oil, another example. It has resulted in a circular logic that is self-defeating. You are only fooling yourselves, until the Financial Statements change. Speaking of which, according to the last one isn't #1 being mothballed because it is "worn out"? Balderdash. Process equipment does not wear out, it just requires more maintenance. There are nuclear plants in Ontario running for 50 years, until the maintenance gets ridiculous and they finally shut Pickering down.I have not read the report, just scanned it.
I find it interesting how investors in JBI take vague,
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