JBI Inc. CEO Will be a Guest Speaker at African Petroleum Producers Association Event
NIAGARA FALLS, Ontario, Feb. 12, 2010 (GLOBE NEWSWIRE) -- JBI, Inc. (the "Company") (OTCBB: JBII) announces that John Bordynuik, CEO / President, will be traveling to Africa in late March, 2010, where he has been invited to be a guest lecturer at CAPE IV, speaking about JBI's unique tape transcription technology.
The event is organized by the African Petroleum Producers Association (APPA), see http://www.appa.int/en/pres/index.html , the Ministry of Hydrocarbures, Democratic Republic of Congo and AME Trade Ltd, UK. The 4th African Petroleum Congress & Exhibition will be held March 24 - 27, 2010 at Palais du Peuple, Kinshasa, Democratic Republic of Congo
Delegations attending CAPE IV will come from the sixteen petroleum producing members of APPA namely: Algeria, Angola, Benin, Cameroon, Congo, Congo DRC, Cote D'Ivoire, Egypt, Equatorial Guinea, Gabon, Libya, Mauritania, Nigeria, South Africa, Sudan and Tchad
CAPE IV represents the veritable "World Cup of African Oil", as investors, institutions, and money managers will be competing for over 100 billion barrels of proven oil reserves contained in APPA member countries. Visit http://cape-2010.com/html/indexEN.html for further information.
Bordynuik stated, "I was delighted to accept the speaker invitation to this influential conference, as I believe that many valuable business connections and corporate expansion possibilities will result from my attendance."
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/.
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
+1 (916) 990-3667