Thursday, November 05, 2009
JBI, Inc. Provides an Update on Corporate Progress
NIAGARA FALLS, Ontario, Nov. 5, 2009 (GLOBE NEWSWIRE) -- JBI,
Inc. (the "Company") (OTCBB:
JBII) continues to make progress in the implementation of its
comprehensive business plan.
In its efforts to globally market the innovative, eco-friendly
Pak-It product line, JBI has appointed Creative Supply Solutions
Ltd. ("CSS") of Manchester, England as a Master Distributor for the
United Kingdom. CSS, a privately held company, has relationships
with more than a dozen distributors in the region, and will be
responsible for managing sales in England, Wales, Scotland, and
Ireland.
Steve Seneca, President of Pak-It, LLC, noted, "I am excited to
have CSS join us as a master distributor. CSS focuses on selling
and marketing break-through technologies, which makes them perfect
for our Pak-It line of water-soluble liquid cleaning
chemicals."
"We see tremendous opportunity for Pak-It because of their
patented technology," stated Nigel Oakes, CSS Director. "The Pak-It
products provide an important green solution - and 'green' is an
extremely important issue in the UK. The concentrated packets
dissolve completely in water, leaving no empty containers to clog
land-fills. And the shipping cartons are lighter and take up less
space than normal containers, which greatly reduces the
environmental impact of transportation."
Furthermore, in anticipation of Pak-It's Canadian expansion, the
Company is pleased to report that PakIt Canada machines are now set
up, and JBI engineers are adding automation to the production lines
to process Pak-Its faster. JBI CEO and President, John Bordynuik,
said, "We envision robust growth for Pak-It products in Canada and
want to be fully prepared to satisfy anticipated demand."
In another important development, Pak-It has formulated a
no-slip cleaner that is a cleaner, polisher and finisher all in
one. Applications of this unique formulation produce no buildup and
the affected surface, whether wet or dry, is not slippery. The
product has successfully been tested with a James Machine and
digital tribometer.
JBI is currently assembling its large P2O processor as all parts
have now arrived. Testing of individual components is also ongoing,
and the Company looks forward to soon demonstrating its economic
viability, as a direct result of using its proprietary catalyst in
the processor's smooth operation. Competing processors that run
without a catalyst risk pollution, blockage in the condensers,
downtime, slag, and massive cleanup, all of which can severely
impact potential profitability.
In addition to reading NASA tapes, JBI has recently been
presented with thousands of seismic tapes to read, which oil
companies view as an important source of information for their
exploration activities. JBI has just started reading tapes for a
large Oil and Gas company, and its Swahili engine is being used to
normalize, index and serve the seismic and well log data.
JBI is setting a presentation and interactive conference call
date for Monday, November 23, 2009. Therefore, all shareholder
questions should be submitted to john@johnbordynuik.com as soon as
possible for review by corporate legal counsel. In order to
adequately address all questions, JBI may publicly release news
items prior to the call date. An upcoming press release will give
the time and call-in details for the call. As well, the information
will be posted on the JBI website at http://www.jbiglobal.com. John Bordynuik is
looking forward to answering shareholder inquiries and presenting
updates on JBI, Inc. to our shareholders.
About JBI, Inc.
JBI, Inc. is transitioning to become a global technology leader
whose purpose is to mine data from JBI's large information archive,
find under-productive entities to inject our superior proprietary
technologies into, and benefit from increased productivity and
profitability, beginning with Plastic2Oil. JBI has also acquired
the following operations:
JAVACO, Inc. ("Javaco") is part of the Supplier Diversity
Network, WBENC. JAVACO, Inc. currently distributes over 100 lines
of equipment from fiber optic transmitters to RF connectors. To
further enhance business in the United States, new distribution
lines are frequently being added including a line of home theater
and audio video products. Javaco will operate and manage the
Company's Plastic2Oil sites in Mexico.
Pak-It, LLC ("Pak-It"): Using the patented Pak-It(TM) delivery
system (liquid cleaner in a water soluble sachet) Pak-It can
deliver glass cleaner, disinfectant, multi-purpose, and many more
cleaning products (42 products currently) shipped in tiny packages
of condensed cleaner (inside a 'dry' 1 quart container). This
delivery method is "green" since it's fully biodegradable and saves
thousands of dollars in shipping. The user simply adds water to the
container without measuring or cutting the Pak-It. Large retailers
and many national Building Service Contractors already using the
product have documented significant cost savings from shipping,
training, inventory control and space.
Accordingly, our revenue sources presently include (i) income
from reading archived tapes (including microfiche) from clients
such as NASA, (ii) income from the recently acquired JavaCo, Inc.,
(iii) income from the sale of Pak-It products, and bulk chemical
facility which we realize beginning October 1, 2009, and (iv) from
the anticipated commencement of operations in the fourth quarter of
2009 with Plastic2Oil, a process and service that converts plastic
to fuel oil. For more information, please see http://www.jbiglobal.com and http://www.javacoinc.com and http://www.pakit.com/.
Forward-Looking Statements
This press release contains statements, which may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act. The Private
Securities Litigation Reform Act of 1995 (PSLRA) implemented
several significant substantive changes affecting certain cases
brought under the federal securities laws, including changes
related to pleading, discovery, liability, class representation and
awards fees and of 1995. Those statements include statements
regarding the intent, belief or current expectations of JBI, Inc.,
and members of its management as well as the assumptions on which
such statements are based. Prospective investors are cautioned that
any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual
results may differ materially from those contemplated by such
forward-looking statements. The Company undertakes no obligation to
update or revise forward-looking statements to reflect changed
assumptions, the occurrence of unanticipated events or changes to
future operating results.
CONTACT: JBI, Inc.
John Bordynuik, President and CEO
john@johnbordynuik.com
Investor Relations
Katie Matkowski
Katie@johnbordynuik.com
+1 (289) 296-5538