For a company that has lost nearly 75% of its Market Capitalization since 2010, JBI Inc. (OTC: JBII) is making a comeback with their Plastic2Oil technology. Shares in the penny stock closed down on Monday by -2.38% to $1.23 but only after it had run from $0.92 to $1.49, a gain of 62%, during the month of May. After reviewing their most recent 10-Q for the period ended March 31, 2012, it appears that if they can get their selling, general and administrative expenses in line, JBII stock could actually be a good investment.
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JBII Stock Chart
Market Cap: 88.78M
Price/Sales (ttm): 34.61
Price/Book (mrq): 36.00
52-Week High
(Jun 14, 2011): 4.20
52-Week Low
(Jan 5, 2012): 0.52
50-Day Moving Avg: 1.15
200-Day Moving Avg: 1.35
Avg Vol (3 month): 132,520
Avg Vol (10 day): 109,714
Shares Outstanding: 72.18M
Float: 55.71M
JBI, Inc. recently announced that certain investors, prominent private equity investors, venture capitalists, investment bankers and accomplished corporate executives, agreed to invest $10 million of equity capital via a private placement of unregistered securities at $0.80 per share. Of the $10 million, corporate insiders John Wesson and Richard Dunn took part in $623,960 or 654,950 JBII restricted shares.
Furthermore, SAIC Energy, Environment & Infrastructure, LLC, a Fortune 500® provider of scientific, engineering, systems integration and technical services and solutions, was engaged to perform an independent review of the P2O technology and its commercial viability. During the 3-day audit, the first for JBI Inc., the P2O processor ran in continuous mode, with 121,318 pounds of throughput, producing 10,287 gallons of No. 6 Fuel and 4,269 gallons of Naphtha.
JBII Q1 Financial Highlights
JBI has three principal operating segments determined based on the nature of the products and services offered: Plastic2Oil, Javaco and Corporate. For the three months ended March 31, 2012, the Company reported:
|
Three Months Ended March 31, 2012
|
||||||||||||||||
|
Corporate
|
Plastic2Oil
|
Javaco
|
Total
|
|||||||||||||
|
Sales
|
$
|
–
|
$
|
226,462
|
$
|
406,718
|
$
|
633,180
|
||||||||
|
Net Loss
|
-1,447,601
|
-1,321,008
|
-59,620
|
-2,828,229
|
||||||||||||
|
Total Assets
|
2,239,474
|
4,689,998
|
334,105
|
7,263,577
|
||||||||||||
|
Accounts Receivable
|
–
|
193,108
|
110,538
|
303,646
|
||||||||||||
|
Inventories
|
–
|
29,393
|
175,340
|
204,734
|
||||||||||||
|
Three Months Ended March 31, 2011
|
||||||||||||||||
|
Corporate
|
Plastic2Oil
|
Javaco
|
Total
|
|||||||||||||
|
Sales
|
$
|
–
|
$
|
–
|
$
|
581,654
|
$
|
581,654
|
||||||||
|
Net Loss
|
-938,334
|
-1,261,675
|
-441,287
|
-2,641,296
|
||||||||||||
|
Total Assets
|
872,100
|
1,250,485
|
693,157
|
2,815,742
|
||||||||||||
|
Accounts Receivable
|
–
|
6,917
|
296,696
|
303,613
|
||||||||||||
|
Inventories
|
–
|
–
|
300,038
|
300,038
|
||||||||||||
About JBII Stock
JBI, Inc. is an innovative North American fuel company that transforms unsorted, unwashed waste plastic into ultra-clean, ultra-low sulphur fuel without the need for refinement. JBI, Inc.’s patent pending Plastic2Oil® (P2O) process is a commercially viable, proprietary process designed to provide immediate economic benefit for industry, communities and government organizations with waste plastic recycling challenges. JBI, Inc. is committed to environmental sustainability by diverting plastic waste from landfill and potential incineration.
For further information on JBII, visit www.plastic2oil.com, and/or review the Company’s SEC filings here.
Bottom Line: JBII could be one of those penny stocks that regains its strength and returns its PPS back to the multiple dollar levels it once held. However, OTCMarkets.com has JBII listed with the infamous 
“caveat emptor” symbol, or buyer beware, regardless of JBII having all of their corporate filings up to date with the SEC.
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