When will the 2011 AGM take place?
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When will the 2011 AGM take place?
Because April 24th is Easter Sunday this year, we have had shareholder requests to move the AGM date. Scheduling with our host casino from last year and reserving our preferred meeting room means that the 2011 JBI AGM will likely take place in June of this year. About 4-6 weeks before the AGM is to occur, we will post the AGM date on the home page of our website and issue a press release.
Has JBI filed necessary paperwork with the NYSDEC per the Consent Order "Schedule A" dates?
Yes, as of March 1st 2011 all NYSDEC filing dates have been met in a timely manner.
Is JBI currently constructing a 30-ton processor at the Niagara Falls, NY facility?
Yes.
Why has the company not disclosed further progress with potential P2O partners, feedstock contracts or fuel sales?
JBI will disclose material events in a timely manner after they have occurred, but we will not disclose progress during any negotiations that might lead to material events being announced.
Is JBI fully reporting?
Yes, JBI is a fully reporting company. This means that the Company meets the full suite of SEC filing requirements irrespective of which exchange the company is listed on. This includes annual audits, quarterly unaudited financial statements, interim filings for any material events, exchange review of all management and Directors, etc.
Does JBI currently have customers?
Yes, JBI has many customers in its various divisions. Revenue is being generated from products and services from Pak-It, JAVACO and its Data Recovery & Management businesses. During 2010 the Company transitioned to an alternative oil and gas company. The Plastic2Oil division received a Consent Order to begin operating commercially from the NYSDEC in December 2010, and the Company is currently in discussion with prospective customers.
Who is on the JBI management team and the Board of Directors?
Management team information can be found under Our Company and the Board of Directors is located in the Governance section.
On which exchange does JBI trade?
JBI, Inc. trades under the symbol JBII on the OTCQX market.
How many shares are outstanding?
As of February 15th, 2011 there were 53,995,260 shares of JBI outstanding, with 21,081,328 of those shares restricted, leaving a freely trading float of 32,913,932. Up-to-date share counts can be verified by contacting our transfer agent.
Is JBI cash flow positive?
Each of our business divisions is growing at a different rate. In aggregate, we have not been cash flow positive thus far. The Company's financial results are published every quarter and are made available under the SEC filing section. JBI has rapidly growing divisions that require us to invest more money in a given quarter than we receive, particularly as we pursue expansion of our plastic2Oil division.
How much debt does JBI currently have and what are the sources of debt?
As of September 30, 2010 JBI was almost entirely debt free having paid out all consideration for newly acquired companies and retiring all debts, except for accounts payable in the normal course. JBI has one long-term liability in the form of a mortgage in the total amount of $271,845.00. This is payable in monthly installments of $1,610 (Canadian dollars), and this debt matures on July 15, 2015. Additional debt may be used in the future for new acquisitions or for general corporate purposes, and investors should always check the latest SEC filings for current information.
Are there other sources of information for shareholders?
JBI considers disclosure of shareholder information one of its fundamental principles, to ensure as much transparency about the Company's progress as allowed by SEC rules. Information is consolidated on this website which provides links to current market prices for its securities, all Company press releases, all SEC filings, all Company financial statements, and includes detailed information about JBI's people, products, processes, partnerships and plans
Does the Company follow Generally Accepted Accounting Principles (GAAP)?
Yes, JBI's financial statements conform to US GAAP, and to all US accounting standards and pronouncements, which is the highest requirement for US based companies at this time.
How is the management team compensated?
JBI uses performance-based compensation for part of each management position. Where required, any management contracts are disclosed through an SEC filing at the time they are established. John Bordynuik, Founder and CEO of JBI, has received an annual base salary of $1, and a compensation agreement with milestones for future payments was implemented in May 2010.
What are the Company's plans for growth?
Please see the Products and Services section of this website for full information on each operating division of JBI. The primary areas for revenue growth during 2010 were: the launch of PAK-IT to the retail market, JAVACO, and the Company's tape recovery units. Revenues are expected from the first Plastic2Oil processors, as permission to operate commercially was granted by a Consent Order from the NYSDEC on December 15, 2010. During the second half of 2010 the Company transitioned to an alternative oil and gas company. We are currently devoting significant efforts launching the Plastic2Oil division across multiple geographical areas, using revenue sharing models tailored to our prospective business partners.
Where is JBI located?
JBI, inc. is now headquartered in Thorold, Ontario. Our address is:
JBI, inc.
1783 Allanport Road
Thorold, Ontario
L0S 1K0 Canada
Phone: 905-384-4383
Fax: 905-384-0076
How can I invest in JBI? Can I purchase JBI stock directly from the Company?
You can purchase stock in our company through a registered brokerage or stock purchase service provider of your choice. You cannot buy JBI stock directly from the Company.
How can I obtain my stock certificate for the PIPE shares I purchased?
Shareholders can visit the Thorold, Ontario office between 9:00am and 5:30pm Monday - Friday. Alternatively, non-local shareholders can send an email to katie@johnbordynuik.com with their name and the address, indicating where the PIPE certificate should be sent.
What is the process to remove the restriction from PIPE shares?
JBI has prepared information for participants in the Company's private offerings who wish to remove the restriction from their shares. Please contact JBI's Investor Relations to request this information.
What is a transfer agent, who is yours, and how do I contact them?
A transfer agent is a regulated organization that keeps track of stockholder records and information. JBI's transfer agent is Pacific Stock Transfer Company. To find out more, please contact our transfer agent.
Does JBI pay a cash dividend?
No, JBI has never declared or paid a cash dividend, nor do we expect to pay any dividends until such time as our cash flow will support it.
When is JBI's year-end and when does the Company report earnings?
Our fiscal year ends on December 31. Our quarters end on March 31, June 30, September 30, and December 31. The quarterly earnings results are usually announced by the end of the second month following a quarter-end. The Company's annual report will be released on or about March 31. Please visit the SEC Filings page for a complete listing of our reports.
Who is JBI's independent accounting firm?
JBI uses the accounting services of Ernst and Young LLP, one of the top-four accounting firms worldwide with 695 offices in 140 countries.
How can I contact Investor Relations?
We are always happy to answer questions and receive feedback from shareholders. Please complete the Contact IR form to do so. We look forward to hearing from you.
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