Considering a buy. I'm new to JBII and am in early

Considering a buy. I'm new to JBII and am in early in DD. I'm having trouble with a few numbers i've read. Particularly, i'm struggling with the current valuation based on the revenue projection i've seen several places. I keep seeing a projection of about 10 mil/year at 75% capacity and $100/barrel. I find those projections both in production and price very optimistic and considering they haven't done it to date i'm surprised by the SP. It appears to me that a very successful 2013 is already built into the SP. I also have some concerns about the patent or lack there of. After years of operation and development why don't they own the patent on this tech?

I'm not a basher, I'd just like to hear from some investors who are able to reconcile these issues. This seems like a fun investment and a great technology. I'm currently long CTIX and picked them up at 0.65 several months back by having conversations like this one. I look forward to hearing from you guys.

cheers.