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Pastimes : Plastics to Oil - Pyrolysis and Secret Catalysts and Alterna -- Ignore unavailable to you. Want to Upgrade?

To: scion who wrote (1851)	8/13/2010 11:52:05 AM
From: scion	Respond to of 53574

Results of Operations Quarter ended June 30, 2010 compared to June 30, 2009 For the quarter year ended June 30, 2010, we generated $3,791,743 in revenues, and incurred a net loss of $2,071,340. We had no significant activity during the quarter ended June 30, 2009. Year-to-date through June 30, 2010, the Company’s revenues total $7,365,173 with a net loss totaling $5,367,949. JBI, INC - 10-Q Quarterly report Filing Date 2010-08-13 sec.gov

To: scion who wrote (1851)	8/13/2010 11:55:57 AM
From: scion	Read Replies (1) \| Respond to of 53574

Operating Expenses The Company’s operating expenses for 2010 have exceeded gross margin by $5,367,949, resulting in a net loss. Many of the expenses incurred in 2010 have been non-cash and/or non-recurring. The Company’s current run rate on recurring expenses is approximately $1,000,000 per quarter. This includes cost of salaries and selling, general and administrative expenses. Year-to-date, stock compensation has been issued and expensed totaling $3,013,020, with $643,120 occurring in the second quarter. This non-cash expense will likely continue in future quarters but the amount will vary based on number of shares issued and the stock price on the date of issuance. The Company has incurred many non-recurring expenses in preparation for the commercialization of its Plastic2Oil technology and the operation of its fuel blending site. Approximately $24,000 was spent on one-time services for the blending site, including environmental, tank, pipeline and gasket repairs, corrosion system upgrades as well as general repairs and upgrades such as having the facility painted. Relating to Plastic2Oil, the Company has invested around $28,000 in security equipment, $14,000 in fencing around the property, $2,000 for a guard building, $4,000 for engineering support relating to the off-gas and sensors, $25,000 for chemical engineering and $10,000 for general engineering relating to the processor. Additional expenditures include approximately $23,000 toward new software to centralize accounting and reporting for all of the Company’s operating units. The Company paid approximately $65,000 to host the Annual Shareholders’ Meeting in April in Niagara Falls. The Company incurred auditing and accounting fees of approximately $178,000 and legal fees of $132,000 during the second quarter. JBI, INC - 10-Q Quarterly report Filing Date 2010-08-13 sec.gov

To: scion who wrote (1851)	8/13/2010 1:35:31 PM
From: fortitude	Respond to of 53574

amazing - all the "good news" and still down over 14% on the week. trading more and more like a stuck pig every day. the overhang grows.

To: scion who wrote (1851)	8/13/2010 2:53:11 PM
From: scion	Read Replies (1) \| Respond to of 53574

While the Company does not currently have sufficient cash for the next 12 months, in the event that cash is needed before a permit is obtained, the Company has a good current ratio and access to short and long-term borrowings. Additionally, the Company is taking steps to minimize expenses and reduce operating costs. [...] Management believes that our Company’s cash will be sufficient to meet our working capital requirements for the next twelve month period.... LIQUIDITY AND CAPITAL RESOURCES As of June 30, 2010, we had $1,945,594 cash on hand. The Company is developing a cash plan to help manage future expenditures. [...] While the Company has experienced a cumulative operating loss, a significant portion of the expenses incurred this year have related to non-cash items such as the issuance of stock compensation totaling $3,013,020. The Company expects that its current cash balance will sustain operations until an air permit for its first production Plastic2Oil processor is obtained, resulting in a new revenue stream from the sale of the output from the process. While the Company does not currently have sufficient cash for the next 12 months, in the event that cash is needed before a permit is obtained, the Company has a good current ratio and access to short and long-term borrowings. Additionally, the Company is taking steps to minimize expenses and reduce operating costs. Historically, we have funded our operations through financing activities consisting primarily of private placements of debt and equity securities with existing shareholders and outside investors. Our principal use of funds has been for capital expenditures and general corporate expenses. We expect to rely upon funds raised from private placements, as well as future equity and debt offerings to implement our growth plan and meet our liquidity needs going forward. Management believes that our Company’s cash will be sufficient to meet our working capital requirements for the next twelve month period at which point further funding will be necessary. However, we cannot assure you that such financing will be available to us on favorable terms, or at all. JBI, INC - 10-Q Quarterly report Filing Date 2010-08-13 sec.gov