On Friday, JBI, Inc. announced that on December 29, 2009 they will become debt free. All corporate debt, including accrued interest, will be paid in full going in to the new year. This will result in monthly savings of over $26,000 in interest payments. The debt will be paid off without dilution to the Company's shareholders.
John Bordynuik, CEO/President, stated, "We are very optimistic and excited about our growth potential in 2010. All of our divisions, particularly P2O, are now positioned for rapid revenue growth, and the elimination of all interest payments will augment net earnings expansion."
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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
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