JBI, Inc. (PINK:JBII) has been on the up move since last week. On Friday, the stock added another 22.09% to its price and its 
traded volume almost doubled.
The reason for the uptrend turns out to be the latest news on JBI. On Dec 21, the company reported that it has signed a long-term fuel supply agreement with Indigo Energy Partners, LLC, which pumped up JBII stock price at once. Though, the positive announcements did not stop with this one.
A couple of days after the new agreement was announced, JBI reported the signing of another multi-year transport fuel supply agreement with XTR Energy Company Limited.
In this way, JBI not only inspired investors, but made its stock price climb even higher and closed the week at $1.99 per share. Is JBII going to hit $2.00 today is just about to be seen.
According to its latest unaudited 10-Q, JBI’s cash position has improved, though the company has not covered its liabilities, while the accumulated deficit substantially increased.[BANNER]
Despite its cash position, JBI states that it will continue to require substantial funds to continue development of its core business of Plactic2Oil to achieve permitted commercial productions, and to commence sales and marketing efforts, if full regulatory approvals are obtained.
Management’s plans in order to meet its operating cash flow requirements include financing activities such as private placements of its common stock, issuances of debt and convertible debt instruments. However, there are no assurances that such additional funding will be achieved and that JBI will succeed in its future operations.
Apparently, the only hope for the company lies in the results of its new agreements. Though, it is too soon for these to be seen.
