Monday, January 11, 2010
JBI, Inc. Appoints Dr. Jacob Smith as Chief Operating Officer
NIAGARA FALLS, Ontario, Jan. 11, 2010 (GLOBE NEWSWIRE) -- JBI,
Inc. ("JBI" or the "Company") (OTCBB:
JBII) is pleased to announce the appointment of Dr. Jacob Smith
as Chief Operating Officer. Dr. Smith is an accomplished
professional whose educational background and managerial expertise
will further assist JBI's management team to execute the Company's
growth model. Dr. Smith's academia accomplishments, leadership
qualities, scientific and business knowledge, and successful track
record all contributed to JBI's appointment decision.
Dr. Smith received a Masters Degree from the University of
Chicago and a Doctor-Medical from Michigan State University in
2002. He obtained Certificates from Cambridge University in 2006
and from the National Institute of Health/FDA in 2007. Business
Certificates were received from Oxford University in 2007 and
Harvard University in 2009. Dr. Smith then received an MBA from
Ashford University in 2009.
From 2000-2006 he served as a Medical/Surgical Resident. He
obtained and managed $8 million of federal funds while prioritizing
HIV/AIDS care services and developing a comprehensive strategic
long-range plan for Southeastern Michigan HIV/AIDS Council. During
this time, he also managed and conducted clinical trial
research.
For the past three years, he has served as an instructor in
Business, Biology, and Healthcare at Davenport University, Livonia,
Michigan, conducting courses in Management, Microeconomics,
Macroeconomics, Healthcare, Biology, Anatomy, and Physiology.
"It is an honor to be appointed as JBI's COO," said Dr. Smith.
"JBI has some unique technology and a growth model that I am
excited about working with. I will be able to contribute my
business and scientific expertise to assist the management team in
reaching their goals."
In discussing Dr. Smith's appointment and qualifications, John
Bordynuik, CEO and President of JBI, stated, "We are delighted to
add Dr. Smith to our management team. He is highly-qualified to
assume the COO position, as he has a thorough understanding of
business principals, economics, and development strategies. I am
very confident that his knowledge and expertise will be valuable in
advancing our business growth model."
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 a bulk chemical
facility which we realized beginning October 1, 2009, and (iv) from
the anticipated commencement of operations in the first quarter of
2010 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 as 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
James Parker
jparker@jbiglobal.com
+1 (916) 990-3667