JBI, Inc. Updates Details on Annual Shareholders' Meeting Set for April 24, 2010
NIAGARA FALLS, Ontario, March 26, 2010 (GLOBE NEWSWIRE) -- The Annual Shareholders' Meeting of JBI, Inc. (the "Company") (OTCBB: JBII) will be held at the Fallsview Casino Resort in Niagara Falls, Canada in the Grand Ballroom Hall C on April 24, 2010 at 1:30 pm EDT. The meeting will be open only to shareholders, who must pre-register their attendance and produce identification and proof of share ownership through a purchase confirmation, statement, copy of share certificate or otherwise. More details about the JBI, Inc. AGM and pre-registration process can be found on the Company's website at www.jbiglobal.com.
JBI, Inc. has refined the process for converting plastic to oil (P2O) with the incorporation of a reusable chemical catalyst and will be scheduling appointments to tour the P2O technology on Sunday, April 25, 2010. Availability of the P20 tours is limited and is restricted to shareholders who may register their interest by following the directions on AGM pages of the company website at www.jbiglobal.com.
CEO John Bordynuik commented, "I am looking forward to updating our shareholders on our progress, introducing some key officers, directors, employees, and demonstrating a large operating, continuous-feed P2O processor. Although I am very pleased with our accomplishments to date, our experienced and energetic management team is not resting. There is much more to accomplish as we launch our Pak-It rollout and expand our global P2O footprint."
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/.
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 +1 (916) 990-3667