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To: scion who wrote (24639)5/18/2012 8:23:29 AM
From: scionRead Replies (1) | Respond to of 53574
 
Why would any company NOT selling shares want to have their process audited and provide details to the public. (I note JBI has not provided "details", just a carefully worded summary).

You can rest assured that Kleiner Perkins and Waste Management didn't put millions into Agilyx because their CEO said the process worked and was "commercially viable". They likely had people do audits that make SAIC's look like a promo piece. And they hired companies that THEY trust, not ones provided by Agilyx.
And I'm willing to bet dollars to donuts that there are no "secret formulas" involved in the Agilyx process that are "only known to one person".

Then again, JBI has sold over $30 million in stock and less than $500k in p2o "output", so perhaps the new name should be "Stories2Stock".

Here's the real question/"audit" that needs to be done - a simple breakdown of expenses for the last 12 months. Explain how a process which is supposedly "commercially viable" can lose $1 million/month while spending less than 25% (and nothing last quarter) on R&D. If the expenses were truly "one time", that would do more for the stock price than all the SAIC audits in the world. And it would be free, since the company clearly tracks expenses at a much more detailed level than "SG&A". Even the earlier breakdowns of fuel vs. recycling revenues, that have now stopped, suggest things headed in the wrong direction.

The fact that the company has never provided those basic financial details, never explained the low revenue figures, and continues to suggest it will need large amounts of additional capital speaks volumes to me about the "commercial viability" of their process.

kezzek Friday, May 18, 2012 6:50:20 AM
Re: stocker11 post# 183544
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To: scion who wrote (24639)5/18/2012 1:07:22 PM
From: donpatRead Replies (1) | Respond to of 53574
 
I think JB saw the writing on the wall - the SEC wall - and did, now, what the SEC might have had to force him to do later after the trial verdict supports their position on fraud.

I still have grave doubts about the new CTO position JB is assuming. Will the SEC frown on that, too? I do.

Is a convicted fraudster a good candidate for a CTO position? Is technology immune from fraud tactics??!