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Pastimes : Plastics to Oil - Pyrolysis and Secret Catalysts and Alterna
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To: flptrnkng who wrote (3983)12/17/2010 6:33:23 PM
From: SteveFRead Replies (1) of 53574
 
The terms of the lease was snuck in the new 10K/A:

On December 15, 2010 JBI, Inc executed an agreement to lease the premises of a permitted material recycling facility for 20 years. The 18,000 square foot recycling facility resides on a 15 acre site and accepts, separates and processes paper, plastics and other materials. The facility includes 3 onsite bailers, several trailers, a shredder and approximately 20 remote bailing machines operating at customer sites. The site also has a solid waste permit which allows for 300 metric tons of material to be processed at the site at any one time. This permit also allows for the storage of up to 9 metric tons of refuse derived from the sorting, processing and bailing of the materials received. The lease agreement provides for monthly rent at the greater of 20 percent of gross revenue derived from the operations of the facility or the contractual base rental, which ranges from $8-$10,000 over the term of the lease, as well as payment of property taxes on the facility.

sec.gov

20% of gross revenue derived from the operations of the facility??? Well then. I hope they don't mean the revenue derived from the plastic taken out of there... Gross rev only has to be $50k/mo for that 20% option to kick in.
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