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Pastimes : Plastics to Oil - Pyrolysis and Secret Catalysts and Alterna
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To: streetscraper who wrote (3584)12/6/2010 4:39:58 PM
From: SteveFRead Replies (1) of 53574
 
How's this for a prediction:

DEC issues an air permit that restricts the type and quantity of feedstock allowed on-site. Production can begin but it's a money-losing proposition.

Honest John begins drawing his $180k salary but since the company has no money his aunt/uncle have to come through with that guaranteed loan at 6% (from the proceeds of the stock they've been dumping plus the shareholder $$$ given to him for the blending facility). The blending facility can be the collateral for this "guaranteed" loan.

JBII eventually defaults and the newly renovated blending facility reverts back to the aunt/uncle's ownership - but not before Honest John drags out the company's demise as long as possible to pocket more salary.

We can take it further with those "guaranteed" 6% loans. Perhaps Weber can make a loan from the proceeds he pocketed when he sold Pak-It to JBII. What collateral can be used as the "guarantee"? Pak-It of course.

Honest John himself can loan the company more money (from the proceeds of the tape eqpt he sold to JBII). Collateral? That same tape eqpt... When JBII finally does go under he still has DE-JBI and however much $$$ was generated by them dumping JBII stock.

... see where this is going? When JBII is finally bankrupt all the insiders get to walk away very wealthy and in possession of the same (or improved) assets they used to illegally inflate JBII's stock price in the first place.

Pretty neat plan, huh?
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