zardiw (User)
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JBII - JBI Inc. 4 Months, 3 Weeks ago
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JBII used to be TRTN is a brand new company, which was bought by John Bordynuik.
NIAGARA FALLS, Ontario, June 16, 2009 (GLOBE NEWSWIRE) -- 310 Holdings Inc. (OTCBB:TRTN - News) announced today that it will commence operations with Plastic2Oil, a process and service that extracts fuel from plastic.
John Bordynuik purchased 63% of the issued and outstanding shares of 310 Holdings on April 24, 2009. Subsequently, Mr. Bordynuik was appointed President and CEO of the Company. The revised Company objective is to develop new technologies and to acquire assets. During the past month, Mr. Bordynuik has injected personal funds into the company to establish new bank accounts, inject assets and technology, and ready a team to launch 310 Holdings Inc.'s first intended profit center.
Management is transitioning 310 Holdings Inc. to become a global technology leader whose purpose is to mine data from the world's largest information archive, find under-productive entities to inject our superior proprietary technologies into, and enjoy increased productivity and profitability, beginning with Plastic2Oil.
Mr. Bordynuik designed hardware and software to recover planetary and sensor data from old magnetic media for various government and institutional archives for more than 20 years. The Company has access to terabytes of this normalized earth sensor data, algorithms, a massive research archive, and other related information. Management believes that most of this information was inaccessible until recently because the data was stored on old, previously unreadable computer backup tapes from the 1960s through 2000.
While mining through the research archive, Mr. Bordynuik found the solution to a process involving breaking down plastic molecules. This research was conducted when plastic was in its infancy and oil prices were very low. It appears to our management that the research was conducted for non-commercial purposes and had no commercial value at the time. Mr. Bordynuik explored Plastic recycling when employed at the Ontario, Canada Legislature but there was no research available at that time to make the conversion commercially viable. Mr. Bordynuik's research was triggered when beverage companies began to phase out returnable glass bottles, in favor of plastic.
Our research has revealed that this process and catalyst is not presently commercialized. By integrating this technology into a large batch processor we believe that we can accomplish the following:
* Approximately one liter of fuel is extracted from a kilogram of
plastic.
* The gas byproduct provides the energy necessary to fuel the
process thereby eliminating energy costs.
* Due to our catalyst and a highly optimized process, fuel can be
extracted in four hours from a large source of raw unwashed,
mixed plastics.
* Raw plastic materials can be acquired in many forms at little or
no cost.
This technology has significant advantages over biodiesel operations due to biodiesel's high operating costs, the high costs of raw materials, and the high energy requirements by their processes.
Alan Barnett, 310's Head Chemist, will oversee the optimization and deployment of 310's first volume Plastic2Oil processor anticipated in July, 2009.
"We hit the ground running with this technology and will soon be well positioned to grow this profit center by clustering Plastic2Oil processors in communities while enjoying the benefits of reduced fixed costs through shared resources," said Mr. Bordynuik, 310 Holdings Inc.'s President and CEO. "I look forward to reporting our successes in the near future with our Plastic2Oil processor."
About 310 Holdings Inc.
Mr. Bordynuik purchased 63% of 310 Holdings Inc.'s common stock on April 24, 2009. The company will take advantage of these economically turbulent times by acquiring highly leveraged assets for pennies on the dollar. The company will also build profit centers to exploit solutions solved long ago, but lost on old computer tape backups that could not be commercialized then due to technological limitations.
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Last Edit: 2009/10/19 21:36 By zardiw.
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zardiw (User)
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Re:TRTN - 310 Holdings 4 Months, 3 Weeks ago
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310 Holdings Inc. Enters Into Definitive Asset Purchase Agreement With John Bordynuik Inc.
NIAGARA FALLS, Ontario, June 25, 2009 (GLOBE NEWSWIRE) -- 310 Holdings Inc. (OTCBB:TRTN) today announced that it has entered into a definitive agreement to purchase certain assets of John Bordynuik Inc., including all of its intellectual property, its custom tape processing hardware, its Swahili data migration system, fixed assets, and its current customer base subject to certain closing conditions and adjustments. The consideration for the acquisition of the assets are restricted common shares of 310 Holdings Inc. equal to the value of the assets.
Provided all conditions to closing are met, 310 Holdings Inc. anticipates closing this Asset Purchase Agreement on or about July 15, 2009. This proposed transaction will affect 310 Holdings Inc. quarterly financial statements. Through the agreement, 310 Holdings Inc. is able to use the hardware to immediately service existing clients of John Bordynuik Inc. which includes processing thousands of tapes from NASA. In fact, John Bordynuik Inc. was awarded purchase orders to read tapes for NASA based on FAR 13.106(b)(1) "only one source reasonably available".
John Bordynuik Inc. designed specialized hardware and software to read old computer tapes from the 1960s to present. There exist millions of tapes of seismic and earth science data with invaluable information that is inaccessible without this technology.
310 Holdings Inc. will continue to charge a flat rate fee of $22 per tape for volume data recovery migration services. None of JBI's liabilities are being assumed by 310 Holdings Inc. The fixed assets are presently valued at approximately $500,000 after depreciation. This equipment includes in excess of 15 multi-core HP servers in a cloud configuration, dozens of HP workstations, a complete 40-foot mobile data recovery container loaded with 18 tape drives and JBI technologies to read tapes off-site; another 45 customized tape drives; and other related supporting assets.
In addition, there is approximately $1M in other related hardware and assets that the Company intends to purchase from John Bordynuik Inc. which are presently being inventoried and catalogued for the final purchase.
This is an arms-length agreement between 310 Holdings Inc. and John Bordynuik Inc. by President and CEO John Bordynuik, who is the majority shareholder in both 310 Holdings and John Bordynuik Inc. The sale is being audited and all relevant filings with adjusted balances will be filed in a timely manner after the Closing Date.
John Bordynuik, President and CEO of 310 Holdings Inc., said, "We expect the acquisition to have an immediate and significant impact on our financial results. This asset purchase will allow 310 Holdings to read tapes to realize the revenue of migrating data of customers' tapes at a flat rate of $22 a tape and then recycle the old tapes by using our Plastic2Oil processor. As we are currently paid by clients to recycle these tapes, this will effectively cause a negative feedstock cost into our Plastic2Oil processor. These old tapes weigh approximately 2 kg each with their plastic cover, and we believe we will be able to produce 2 liters of fuel from every recycled tape. Through this acquisition, we have approximately 50 tons of tapes to read, to migrate the data and to recycle in our Plastic2Oil processor, 20 tons immediately."
Management believes an 8k will be filed on or about Friday, June 26, 2009 detailing the purchase.
About 310 Holdings Inc.
John Bordynuik purchased 63% of the issued and outstanding shares of 310 Holdings on April 24, 2009. Subsequently, John Bordynuik was appointed President and CEO of the Company. Management has commenced operations with Plastic2Oil, a process and service that extracts fuel from plastic. 310 Holdings Inc. is incorporated in the State of Nevada and is publicly traded on the NASDAQ OTCBB under the symbol "TRTN".
For more information, please see www.310holdings.com and www.johnbordynuik.com.
CONTACT: 310 Holdings Inc.
John Bordynuik, President and CEO
+1 (289) 668-7222
john@310holdings.com
Investor Relations
Katie Matkowski
+1 (289) 296-5538
Katie@310holdings.com
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zardiw (User)
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Re:TRTN - 310 Holdings 4 Months ago
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EMail from CEO:
A few notes:
1) The costs reflected in the pro forma financial are for the entire
quarter.
2) We are profitable after 2 days of processing tapes.
3) The asset purchase was audited by James Gately.
We had the asset purchase audited to ensure everything was properly
accounted for, because it was an arms-length transaction, and because there
are so many scams on the OTC.
Regards,
John Bordynuik
CEO
310 Holdings Inc
Collaborative Researcher
Math and Computation Group
Computer Science and Artificial Intelligence Laboratory
Massachusetts Institute of Technology
john@csail.mit.edu
people.csail.mit.edu/john
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zardiw (User)
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Re:TRTN - 310 Holdings 4 Months ago
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TRTN 10Q is coming out in a few days. It will reveal the value of this new company in detail..........z
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zardiw (User)
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Re:TRTN - 310 Holdings 4 Months ago
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Actual Screenshot of Data Recovery. From MIT website:
The screenshot above is from an MIT ITS 7-track tape. The data tracks 0-5 + Parity above are amplified, deskewed, and zoomed to emphasize the magnetic flux transitions. In this case, a flux transition represents a "1" and no transition represents a "0". The 8th trace is a timing waveform relative to tape speed. Since the circuitry and biasing/amplifiers have such a high SNR, the drive is able to detect a very weak bit -- in most cases, 1/10 the amplitude of a average bits amplitude.
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zardiw (User)
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Re:TRTN - 310 Holdings 3 Months, 3 Weeks ago
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"We've got the world's largest engineering information archive," he said.
"The data is highly valuable.
"Today, everything about information is valuable. We can turn it into money."
- John Bordynuik, CEO
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zardiw (User)
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Re:TRTN - 310 Holdings 3 Months, 3 Weeks ago
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NEWS: 310 Holdings Inc. is Opening a New Cambridge Tape Reading Facility
NIAGARA FALLS, Ontario, July 28, 2009 (GLOBE NEWSWIRE) -- 310 Holdings Inc. (OTCBB:TRTN - News) is pleased to announce the scheduled opening of their new tape-reading facility at 500 Technology Square, Suite 150, Cambridge, MA on August 3, 2009. This state-of-the-art site will be housing 18 tape drives employing the Company's latest generation of its proprietary, highly effective magnetic media reading technology. Each shift, run by just one staff member, can process 576 open reel tapes. These highly-automated drives can each read one tape every 15 minutes. Cartridge media will also be processed, further augmenting the Company's revenue stream. Management believes this site will be fully operational by the end of August.
John Bordynuik, 310 Holdings Inc. President and CEO commented, "We look for this division to be highly profitable, since we have an abundance of business and have already fully paid for the hardware. We will net about $22 per tape with a cost factor of approximately $1.50 for each one. The low cost at this facility is due to a number of factors including: highly automated technology, very low material handling involved, the drives are fully paid for, engineering is complete, and the cost of this facility is less than $150,000/year with very low step costs for additional shifts."
The Company will immediately begin to direct some tape processing to this new facility as well as process tapes that cannot be exported from the United States.
A detailed update on 310 Holdings' Plastic 2 Oil process will be announced soon.
About 310 Holdings Inc.
John Bordynuik purchased 63% of the issued and outstanding shares of 310 Holdings on April 23, 2009. Subsequently, John Bordynuik was appointed President and CEO of the Company.
On June 25, 2009, 310 Holdings Inc. announced a definitive agreement to acquire certain assets of John Bordynuik Inc., including all of its intellectual property, its custom tape processing hardware, its Swahili data migration system, fixed assets, and its current customer base subject to certain closing conditions and adjustments. Provided all conditions to closing are met, 310 Holdings Inc. anticipates closing this Asset Purchase Agreement on or about July 15, 2009.
For more information, please see www.310holdings.com and www.johnbordynuik.com.
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zardiw (User)
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Re:TRTN - 310 Holdings 3 Months, 2 Weeks ago
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Video Notes:
FYI, 1 Kilo of plastic was expected to take 4 hours to process. The actual time it takes is 15 minutes. 15 metric tons of plastic are expected to take less then 2 hours to process. Confidential data has been protected with John's hand
The chemical analysis will be released after the data has been confirmed by an independent lab. As is, and based on JBI's own analysis, the diesel extracted from plastic is more pure then the actual diesel.
The large stacks of tapes that are ready to process can be seen in the background.
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