“Most of those endeavors are agreements between small advanced recycling firms and big oil and chemicals companies or consumer brands, including ExxonMobil Corp., Royal Dutch Shell Plc, and Procter & Gamble Co (P&G). All are still operating on a modest scale or have closed down, and more than half are years behind schedule on previously announced commercial plans,” said Reuters
Just like the empty, meaningless "agreement" between jbii and RockTenn. Schmukynuik promised to do all the work (ALL ... RockTenn was required to do absolutely nothing), and in return, RockTenn would get a cut of the revenues. WHO WOULDN'T SIGN SUCH AN AGREEMENT?? Cesspoolynuik's (intentional) failure to ever implement the agreement cost RockTenn nothing, and exposed them to no liabilities. I would have signed that agreement, too, with Crapnuik. Why not?
Purpose: Announcement of the agreement (and subsequent exploitation of the announcement) makes the naive think that RockTenn has "vetted" the technology ... pps goes up ... scamsters sell ... the agreement remains entirely on paper, and the naive are left holding declining and eventually worthless shares.
Similar dynamics with all the bullsh&t exploitation of NY State's granting of some license or other to jbii. This was touted (intentionally, of course) as "vetting" of jbii. Absolute crap: it's like someone applying for and getting a passport. The passport in no way "vets" the character of the applicant. It's just a formality. What NY was basically saying was "you have permission to go ahead and try to do what you are claiming you can do." This is NOT vetting, and yet we heard hundreds (maybe thousands) instances of propoganda such as "I'll go with NY State's vetting of the technology, and you go with your naked short bashing". Incredible how naive some "investors" are, and how dangerous it is to not do simple DD.
My 2 cents |
