UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 6, 2011
JBI, INC.
(Exact Name of Registrant As Specified In Charter)
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Nevada
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000-52444
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20-4924000
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(State or other jurisdiction of
incorporation or organization)
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(Commission File Number)
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(IRS Employee Identification No.)
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1783 Allanport Road Thorold, Ontario L2R 3A6
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(Address of Principal Executive Offices)
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(905) 384 4383
(Registrant’s Telephone Number, Including Area Code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
Resignation of Chief Financial Officer
On April 6, 2011, JBI, Inc. (“JBI” or the “Company”) accepted Ron Baldwin’s resignation as Chief Financial Officer.
Item 8.01 Other Events
JBI has recently developed a traction product for marble and other floor surfaces. Substantial independent testing conducted at Niagara Fallsview Casino Resort has shown that this floor product has anti-slip characteristics that significantly exceed industry standards for an anti-slip floor product
Court precedent and expert opinion recognize a slip index of 0.50 as a threshold for a safe walking surface. For example: The American Society for Testing and Measurement (ASTM) document C-21, a specification for acceptable CoF on ceramic tile for walking surfaces, specifies a safety threshold of 0.50; American National Standards Institute -ANSI A-1264-2-2003 is the most recent consensus standard specifically and cites 0.50 as a target slip resistance for safe walking surfaces. The lowest threshold for human walking is considered approximately 0.25.
JBI’s aforementioned test results significantly exceeded the consensus standard set by the American National Standards Institute - ANSI A-1264-2-2003. Average test results on the treatments of wet and dry surfaces are as follows:
UNTREATED floors:
Dry surface Average: 0.94
Wet Surface Average: 0.19
TREATED floors:
Dry surface Average: 0.96
Wet surface Average: 0.64
With these results, JBI plans to develop a no-slip floor solution for retail and commercial distribution. The Company is hopeful that this traction floor product will limit slip and fall lawsuits, and lower insurance premiums through the recommendations of insurance brokers.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
None.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized
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JBI, INC.
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Date: April 14, 2011.
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By:
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/s/ John Bordynuik
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John Bordynuik
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President & Chief Executive Officer
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