A few facts. First the share price was trading
Post# of 43066
(Total Views: 438)
Posted On: 04/01/2018 10:38:59 AM
A few facts.
First the share price was trading at around $0.35 at the time Rick took over and fell immediately after to around 10 cent in the next month or so, which would have meant tens of millions of shares to raise just a few millions dollars and JBII at the time was spending 10-12 million a year.
When Rick took over I was very happy and so was many other share holders, it was at the time viewed very positively as JB was close to lose his preferred shares with 100 million voting rights to the investor group, as they couldn't achieve the ridiculous demands set forth by them in terms of the qualifications for the I believe two board members they were signed in to find via the contract with the said investor group. Tony Bogolin was also in charge and were what can only be described as hell bent on destroying the company. Something had to be done and Rick was persuaded to take the CEO position and to lend the company money.
Question: this was a great thing to happen back then and probably saved the company, which by many including myself was viewed very positively, so how come the share price took a nose dive afterwards?
Rick did not have 10-12 million available to run JBII for the next twelve months, neither did he have the time needed to accomplish this as he has his own business which of course is more important for him. As such a new business model was agreed upon, which was to sell processors, as I assume it was believed to cost much less to reach profitability going this way.
The above is not to say that I am a fan of Rick here 5 years after, which I have stated many times,, however he has kept PTI alive so far, although at a in my view a little over the top in interest rates.
I do believe they have all the run data needed for the processor, and I do believe negotiations with various companies have taken place, so the interest is there. The processor does work as you have stated as well, so a sale could indeed happen. There is currently a contract signed for a sale with a deadline of 20th of April for a transfer of funds, will it happen now, how knows, but an oil price of $65/ barrel and an almost non stop buzz/talk about the waste plastic problem since new Year when China announced they would no longer accept many waste plastics, tells me that this industry is getting ready for a lot more attention and PTOI still have a competitive technology.
First the share price was trading at around $0.35 at the time Rick took over and fell immediately after to around 10 cent in the next month or so, which would have meant tens of millions of shares to raise just a few millions dollars and JBII at the time was spending 10-12 million a year.
When Rick took over I was very happy and so was many other share holders, it was at the time viewed very positively as JB was close to lose his preferred shares with 100 million voting rights to the investor group, as they couldn't achieve the ridiculous demands set forth by them in terms of the qualifications for the I believe two board members they were signed in to find via the contract with the said investor group. Tony Bogolin was also in charge and were what can only be described as hell bent on destroying the company. Something had to be done and Rick was persuaded to take the CEO position and to lend the company money.
Question: this was a great thing to happen back then and probably saved the company, which by many including myself was viewed very positively, so how come the share price took a nose dive afterwards?
Rick did not have 10-12 million available to run JBII for the next twelve months, neither did he have the time needed to accomplish this as he has his own business which of course is more important for him. As such a new business model was agreed upon, which was to sell processors, as I assume it was believed to cost much less to reach profitability going this way.
The above is not to say that I am a fan of Rick here 5 years after, which I have stated many times,, however he has kept PTI alive so far, although at a in my view a little over the top in interest rates.
I do believe they have all the run data needed for the processor, and I do believe negotiations with various companies have taken place, so the interest is there. The processor does work as you have stated as well, so a sale could indeed happen. There is currently a contract signed for a sale with a deadline of 20th of April for a transfer of funds, will it happen now, how knows, but an oil price of $65/ barrel and an almost non stop buzz/talk about the waste plastic problem since new Year when China announced they would no longer accept many waste plastics, tells me that this industry is getting ready for a lot more attention and PTOI still have a competitive technology.
(6)
(0)