Friday, February 12, 2010
JBI, Inc. Appoints Chief Operating Officer Dr. Jacob Smith to Its Board of Directors
NIAGARA FALLS, Ontario, Feb. 12, 2010 (GLOBE NEWSWIRE) -- JBI,
Inc. (the "Company") (OTCBB:
JBII) is pleased to announce the appointment of Dr. Jacob Smith
to its Board of Directors. JBI's Board of Directors is
composed of the Chief Executive Officer, the Chief Operating
Officer, and three well-qualified individuals who are expected to
provide constructive input and individual creative expertise to
help execute the Company's business model.
Each Board member was selected based on several criteria,
including: business and scientific acumen / experience, leadership
qualities, creative ability, communication expertise, successful
accomplishments, and a sincere desire and commitment to
advance JBI's growth objectives.
Dr. Smith's experience and educational accomplishments are
extensive and noteworthy. He received a Masters Degree from the
University of Chicago, Chicago, IL and Doctor-Medical from Michigan
State University, Lansing, MI in 2002. He obtained a
Certificate from Cambridge University, UK in 2006 and a Certificate
from the National Institute of Health/FDA in 2007.
Business Certificates were received from Oxford University, Oxford,
UK in 2007 and Harvard University, Boston, MA in 2009.
Dr. Smith then received an MBA from Ashford University, Clinton,
Iowa in 2009.
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.
Dr. Smith commented, "I am truly honored to be invited to join the
Board of Directors. This is a dynamic company with a
forward-thinking, "out-of-the-box" management style. I am excited
that I will be able to contribute my business and scientific
expertise to assist the seasoned management team in reaching their
goals."
Bordynuik summarizes, "I am very pleased with our newly-appointed
Directors. Dr. Smith obviously has excellent credentials and
has provided valuable assistance in the improvement of productivity
and efficiency with our Pak-It operations."
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
+1 (916) 990-3667
jparker@jbiglobal.com