JBII.PK

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THOROLD, Ontario, Apr 20, 2011 (GlobeNewswire via COMTEX) -- JBI, Inc. (the "Company" or "JBII") (otcqx:JBII) stated today that it was concerned about this month's significant trading volumes and stock price increase, which appear to be unrelated to any disclosures by the Company.

The Company notes that on March 16, 2011 it signed a non-binding letter of intent with a potential customer for the purchase of the naphtha produced from the Company's Plastic2Oil process. At this time, a definitive fuel supply agreement is being negotiated; however, it is possible that the Company and the potential customer may not finalize a definitive agreement.

Additionally, on April 14, 2011, after much discussion and exchanges of drafts, the Company received what management believes is a final referral agreement with a large company that has a significant number of material recycling facilities and high volume waste plastic streams. The contemplated referral agreement provides a framework for the other party to introduce JBI to their clients who produce plastic feedstock to leverage JBI's Plastic2Oil(TM) process. The referring party would be paid a fee based on Plastic2Oil(TM) fuel produced from plastic feedstock which JBI is provided at no cost from the client. At this time no definitive agreement has been executed and it is possible that the Company and the other party may not finalize a definitive agreement.

Additionally, JBI has been negotiating Joint Venture agreements with both the aforementioned company and one of its customers. These companies have sent in excess of 141,640 lbs of waste plastic to date. This plastic was processed and evaluated for qualitative and quantitative analytical data. Over the last few months, JBI has met with executives and representatives from these Companies at their respective locations and our Plastic2Oil factory.

The contemplated structure of a Joint Venture with JBI is:


  --  JBI will build and operate a Plastic2Oil processor at the source of the
      plastic waste.
  --  JBI will receive plastic waste at no cost.
  --  JBI will share in the revenue from the sale of fuel generated by the
      machine, 80% / 20% (JBI receives 80%).
  --  As JBI staff will operate the process, JBI will assume all risks.





JBI continues in discussions with these companies; however, finalization and execution of these agreements are subject to a number of conditions including, due diligence by each of the parties, negotiations and execution of a definitive agreement; and that there can be no assurance that either the proposed agreements or the transactions contemplated by these agreements will in fact be consummated or, if consummated, that the terms and conditions will not be changed.

JBI is also in discussions for other joint venture opportunities; however, JBI is focused on joint ventures with potential partners who have existing permits and high volume waste plastic streams.

Although JBI continues to be optimistic about its Plastics2Oil technology, we remind investors that both this technology and the Company as a whole are subject to various risk factors that we disclosed in our amended Form 10-K filed with the SEC on December 16, 2010. Among other things, there have been no fuel sales to date and, although the Company believes that our P2O machines can be operated profitably, there is no assurance that this will occur. Further, the need to obtain necessary licenses, rights and permits in various jurisdictions may adversely affect our business. In addition, we have incurred net losses for each of the last three fiscal years, and cannot assure you that we will be profitable in the future. Finally, our common stock may be classified as a "penny stock," which represents an inherently risky investment. As such our common stock would be subject to rules that impose sales practice and disclosure requirements on broker-dealers who engage in certain transactions involving a penny stock. Investors should carefully review all of the risk factors disclosed in our amended Form 10-K before making an investment decision.

On April 1, 2011, the Company filed a Form 12b-25, Notification of Late Filing ("Notification") with the SEC disclosing that, due to the nature and timing of a pending audit review, the Company was unable to file its annual report on Form 10-K for the fiscal year ended December 31, 2010 on a timely basis. The Company gained a fifteen-day extension by filing this Notification. However, the Company was unable to file its Form 10-K within that extension period. i.e., by April 15, 2011. The Company intends to file its Form 10-K within the week.

About JBI, Inc.

JBI, Inc. is an alternative Oil and Gas company. JBI developed a process that converts waste plastic into fuel (Plastic2Oil). JBI scaled a 1kg process to a 20MT commercial processor in less than 1 year. For more information please review our SEC filings, including without limitation our amended Form 10-K our amended Form 10-K filed with the SEC on December 16, 2010.

Forward Looking Statements

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees as of 1995. Those statements include statements regarding the intent, belief or current expectations of JBI, and members of its management as well as the assumptions on which such statements are based, including the expected timing of the Company's Form 10-K, execution of the proposed agreements described above and consummation of the transactions contemplated by such agreements. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Such risks include, but are not limited to: (1) JBI has a history of net losses, and may not be profitable in the future; (2) JBI may not be able to obtain necessary licenses, rights and permits required to develop or operate our Plastic2Oil business, and may encounter environmental or occupational, safety and health conditions or requirements that would adversely affect its business; and (3) JBI may experience delays in the commercial operations of its Plastic2Oil machines and there is no assurance that they can be operated profitably. For a more detailed discussion of such risks and other factors, see the Company's amended Annual Report on Form 10-K, filed on December 15, 2010, with the Securities and Exchange Commission, and its other SEC filings. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: JBI, Inc.


CONTACT: JBI, Inc.
Investor Relations
(877) 307-7067

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Let's all do some DD to see what we can dig up...

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Profile: 

JBI, Inc.
500 Technology Square
Suite 150
Cambridge, MA 02139
United States - Map
Phone: 905-354-7222
Fax: 905-354-1062
Website: http://www.jbiglobal.com

Details   
Index Membership: N/A
Sector: N/A
Industry: N/A
Full Time Employees: 61


Business Summary   

JBI, Inc., together with its subsidiaries, provides data restoration and recovery services in the Americas. Its data recovery, migration, and management services include recovering data from improperly stored discs and tapes, tapes damaged by magnetic or mechanical errors, and data that is media encapsulated or encrypted in any format. The company converts the raw data into modern file formats, which provide customers a replica of the information from their original media; and provides data migration services that allow customers the ability to access data created by now-extinct technology. It also refined the process to convert plastic to oil with the incorporation of a reusable chemical catalyst. In addition, JBI involves in the processing, mixing, and packaging of chemicals; and manufacture and sale of PakIt water-soluble sachets, which are pre-measured membrane-encapsulated cleaning concentrates for use in carpet and floor care, kitchen, laundry, and bath products, as well as multi-purpose cleaners. Further, it distributes a range of tools and equipment, including home, with network, Internet and broadband telephone accessories, and home theater equipment and wiring. The company was formerly known as 310 Holdings, Inc. and changed its name to JBI, Inc. in October 2009. JBI, Inc. was incorporated in 2006 and is based in Cambridge, Massachusetts.


Business Overview

BRIEF: For the nine months ended 30 September 2010, JBI, Inc.'s revenues totaled $10.65M, up from $722.4M. Net loss increased from $.960.7M to 7.13B. Revenues reflects an presence in income from Java, Pak-It and higher from other sales. Higher loss reflects the presence of Pak-It & Javaco cost of sales, increased Compensation paid in stock expenses, higher other operating expenses, presence of depreciation expense and amortization expenses. http://www.jbiglobal.com

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JBII  JBI Inc. to Supply Oxy Vinyl Canada With Alternative...  by GlobeNewswire  May 9 2011 7:21AM 


THOROLD, Ontario, May 9, 2011 (GlobeNewswire via COMTEX) -- JBI, Inc. (the "Company" or "JBII") (otcqx:JBII) announced today that Oxy Vinyl Canada, a wholly owned subsidiary of Occidental Petroleum (OXY), has agreed to purchase JBI's low sulphur heating oil for $109.80 per barrel. Low sulphur heating oil is a product of our Plastic2Oil(TM) process. Under the terms of the agreement, the first order of approximately 214 barrels of low sulphur heating oil is expected to be delivered this week.

"Today's announcement is for the sale of JBI petroleum products derived from waste plastic," said CEO John Bordynuik. "I am pleased that our green initiative has come to fruition evidenced by Oxy Vinyl's purchase."

JBI's revolutionary Plastic2Oil(TM) process converts mixed waste plastic into separated diesel, heating oil, and light naphtha fuels. Low sulphur heating oil is diesel fuel without transport additives. In Q1 2011, Bordynuik designed quality controls, fuel blending, and automatic additive injection so that the fuel produced is a final product, unlike crude oil. The agreement with Oxy Vinyl marks the company's first alternative fuel sale.

JBII used highly reputable laboratories and service providers to validate and test its Plastic2Oil(TM) process and products. This strategy has provided a long term benefit to our shareholders.

About JBI, Inc.

JBI, Inc. is a domestic alternative Oil and Gas company. JBI developed a process that converts waste plastic into fuel (Plastic2Oil), without the need of further refinement. JBI scaled a 1kg process to a 20MT commercial processor in less than 1 year. For further information please visit www.plastic2oil.com and review our SEC filings, including without limitation our Form 10-K filed with the SEC on April 20, 2011.

Forward Looking Statements

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees as of 1995. Those statements include statements regarding the intent, belief or current expectations of JBI, and members of its management as well as the assumptions on which such statements are based, including the expected timing of the Company's Form 10-K, execution of the proposed agreements described above and consummation of the transactions contemplated by such agreements. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Such risks include, but are not limited to: (1) JBI has a history of net losses, and may not be profitable in the future; (2) JBI may not be able to obtain necessary licenses, rights and permits required to develop or operate our Plastic2Oil business, and may encounter environmental or occupational, safety and health conditions or requirements that would adversely affect its business; and (3) JBI may experience delays in the commercial operations of its Plastic2Oil machines and there is no assurance that they can be operated profitably. For a more detailed discussion of such risks and other factors, see the Company's amended Annual Report on Form 10-K, filed on April 20, 2011, with the Securities and Exchange Commission, and its other SEC filings. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: JBI, Inc.


CONTACT: JBI Inc.
Investor Relations
1-877-307-7067

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+101% move since 04/23/2011


Day's Range: 3.26 - 3.95
52wk Range: 0.51 - 5.00
Volume: 383,808
Avg Vol (3m): 186,286
Market Cap: 202.61M

Technicals
Gap Up
Percentage Gainer

Last Price Quote is:
47.21%above 13-day EMA
123.31%above 50-day EMA

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JBII - Momentum

JBI, Inc., together with its subsidiaries, provides data restoration and recovery services in the Americas.