To: anniebonny who wrote (314 ) 4/15/2010 11:35:12 PM From: anniebonny Read Replies (2) | Respond to of 53574 Posted by: Rawnoc Date: Wednesday, March 31, 2010 6:19:47 PM In reply to: None Post # of 223580 JBII -- "On February 4, 2010, the Company formed a wholly owned New York corporation, JBI RE #1, Inc. to purchase an industrial building containing 14, 860 square feet that is situated on 3.37 acres of land in Niagara Falls, NY. This entity will house the first commercial operation of Plastic2Oil (“P2O”). On February 9, 2010, the Company formed two Nevada corporations as wholly owned subsidiaries; Plastic2Oil Land, Inc., Plastic2Oil Marine, Inc. to operate P2O operations on land and sea, respectively. The Company expects to begin commercial operations of converting waste plastic to oil in the second quarter of 2010. In addition, the Company entered into its first Area Development Agreement with AS PTO, LLC to promote licensing and P2O operations in Florida using a combination of Joint Ventures (JV’s) and Company owned sites. In February the first license was issued to Plastic 2 Oil of Clearwater 1, LLC (a Delaware LLC) and was arranged with members Plastic2Oil Land, Inc., AS PTO, LLC. and ES Resources, LLC. John Bordynuik is the CEO and Director of the Plastic2Oil corporations and he is overseeing a professional team that is primarily comprised of value based managers who are also shareholders of JBI. The Plastic2Oil Land, Inc. Chief Operating Officer is Robert Shoemaker who, prior to taking on this role, was CEO of Pak-It, LLC. Mr. Shoemaker takes no salary. Assisting Mr. Shoemaker (also with no salaries) are Richard M. Haber, Esq., Steven Weiss, Esq., Paul Raymond, Esq., Geoffrey Weber, CPA, and Al Sousa (Mr. Sousa is the Area Developer for Florida and he provides advisory services to P2O at no-charge). The Company expects to enter into definitive value based compensation arrangements with the Plastic2Oil managers in the second quarter of 2010. In January 2010 the Chief Executive Office cancelled 21,000,000 shares of Common Stock."siliconinvestor.com