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Pastimes : Plastics to Oil - Pyrolysis and Secret Catalysts and Alterna
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To: Steady_on who wrote (15535)12/18/2011 7:41:17 PM
From: PaperProphetRead Replies (1) of 53574
 
Re:<"It is my expectation that JBI will be demonstrating successful production and high margins in the first quarter of 2012. JBI will also have operational processors on RKT facilities by the end of the 2nd quarter if not sooner.">

As a reasonable man, do you have any basis for having those expectations? Is there something Mr. Bordynuik said that led you to expect that a processor will be up and running in the first quarter and processors running at RockTenn before the end of the second quarter...or are you taking the the suggestive picture painted by Mr. Bordynuik and painting that picture even better? If you have any basis at all, please share.

Now I agree that it doesn't matter too much that your expectations are baseless--nobody's money is riding on your expectations. However many people have money riding on Mr. Bordynuik's publicly announced expectations and virtually none of them have come to fruition. When Mr. Bordynuik makes baseless forward-looking statements, it's tantamount to fraud. As a penny stock, the safe harbor language of the 1995 PSLRA does *not* apply to JBII and shareholders aren't dissuaded from suing. They could sue and win for each forward-looking statement Mr. Bordynuik made that didn't come to fruition.

Do I agree with the 1995 act?? Congress specifically passed that act with the safe harbor language in the interest of transparency so legitimate companies wouldn't be afraid to tell investors their honest expectations. Congress specifically excluded penny stocks because of the amount of fraud in the pennies...but that doesn't stop penny stock scams like Mr. Bordynuik's from posting the safe harbor language anyway to try to discourage investors from suing. If it were up to me, I would be more lenient than the PSLRA and say that expectations by public companies having a reasonable basis grounded in fact shouldn't be sued. As you can see by the large number of Mr. Bordynuik's completely failed expectations, he's either the dumbest fantasy-based optimist alive or he's a run-of-the-mill, honest-to-goodness swindler painting fictitious pictures of reality to draw in investors.
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