Monday, April 12, 2010
JBI, Inc. Previews Annual Shareholders' Meeting
NIAGARA FALLS, Ontario, April 12, 2010 (GLOBE NEWSWIRE) -- JBI,
Inc. (the "Company") (OTCBB:
JBII) would like to remind all Shareholders who plan to attend
the Company's Annual Shareholders' Meeting on Saturday, April 24,
2010 to complete the pre-registration process. Notice of attendance
must be received by Friday, April 16, 2010. Pre-registration
instructions and full details about the Meeting can be found on the
Company's website at
www.jbiglobal.com. CEO John Bordynuik and
the JBI management team will provide an update on JBI's progress
across all business units at the Meeting.
Mr. Bordynuik comments, "Since our last update, the JBI team has
been working to achieve results on several fronts. I am
extremely pleased with the progress we have accomplished and look
forward to updating the shareholder community at the Annual
Shareholders' Meeting. In addition to the intense focus on
our Plastic2Oil initiative, JBI has made a significant investment
to automate production at our Pak-It facility to support the
widespread retail campaign."
Regarding the Company's Plastic2Oil (P2O) progress, Bordynuik
adds, "IsleChem has provided me with comprehensive reports and
analysis based on their work on our P2O processor. Included
is the analysis of non-condensable gases and determination of trace
metals in feed, residue, and analysis of fuels based on more than
38 repeatable 'runs'. They have also provided the raw data
for each run, including energy, temperatures and product. The
comprehensive reports include detailed energy consumption, GC data
condensates, off-gas analysis and all other relevant
statistics. Due to the extremely technical nature of the work
performed by IsleChem, we are now having their reports translated
into laymen's terms and scrubbed of proprietary information for
release to the public. At the Shareholders' Meeting we will
also provide the Intertek and Petro Lab reports about the fuels as
well as some detail from the IsleChem work."
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") distributes over 100 lines of equipment
serving the Cable Telecommunications industry, cable systems and
their contractors. Supplier of tools and test
equipment, RF and fiber optic connectivity accessories, and
many other related items, JAVACO adds new lines of
products as technology changes. With much experience working
in Latin America, 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