Item 15. Recent Sales Of Unregistered Securities.
We were incorporated in the State of Delaware in September 2007 and 100,000 shares of common stock were issued to Sheila Hunter in consideration for $100. These shares were issued in reliance on the exemption under Section 4(2) of the Securities Act of 1933, as amended (the “Act”) and were issued as founders shares. These shares of our common stock qualified for exemption under Section 4(2) of the Securities Act of 1933 since the issuance shares by us did not involve a public offering. The offering was not a “public offering” as defined in Section 4(2) due to the insubstantial number of persons involved in the deal, size of the offering, manner of the offering and number of shares offered. We did not undertake an offering in which we sold a high number of shares to a high number of investors. In addition, the investor had the necessary investment intent as required by Section 4(2) since they agreed to and received share certificates bearing a legend stating that such shares are restricted pursuant to Rule 144 of the 1933 Securities Act. This restriction ensures that these shares would not be immediately redistributed into the market and therefore not be part of a “public offering.” Based on an analysis of the above factors, we have met the requirements to qualify for exemption under Section 4(2) of the Securities Act of 1933 for this transaction.
In February 2009 we entered into a Stock Purchase and Share Exchange Agreement with John Bordynuik, Inc., (“JBI”) an Ontario Corporation, whereby we exchanged 58,521,250 shares of common stock for all of the issued and outstanding shares of JBI, to the individuals listed below. These shares of our common stock qualified for exemption under Section 4(2) of the Securities Act of 1933 since the issuance shares by us did not involve a public offering. The offering was not a “public offering” as defined in Section 4(2) due to the insubstantial number of persons involved in the deal, size of the offering, manner of the offering and number of shares offered. We did not undertake an offering in which we sold a high number of shares to a high number of investors. In addition, the individuals had the necessary investment intent as required by Section 4(2) since they agreed to and received share certificates bearing a legend stating that such shares are restricted pursuant to Rule 144 of the 1933 Securities Act. This restriction ensures that these shares would not be immediately redistributed into the market and therefore not be part of a “public offering.” Based on an analysis of the above factors, we have met the requirements to qualify for exemption under Section 4(2) of the Securities Act of 1933 for this transaction.
1264282 Ontario Ltd. (Jade Amusement) (1) 8,000
1515437 Ontario Inc. (2) 200,000
Anthes, Colin B. 20,000
Anthes, Fiona 16,000
Anthes (In-trust Emily C. Anthes), Thomas 16,000
Anthes, Thomas Victor 200,000
Bagley, Brenda (3) 50,000
Barnett, Alan (4) 232,000
Barnett, Tom 6,000
Barnett, Holly 24,000
Beam, Janet 4,000
Best Real Estate Buy Inc. (5) 30,000
Biamonte, Joseph 10,000
Biamonte, Napoleon (6) 122,000
Biamonte, Ralph 5,000
Biamonte, Sarah 2,000
Bjorgan, Chris 2,000
24
Boric, Doug 8,000
Boric, Dean 30,000
Bosche, Donalda 30,000
Bosco, Kelly 10,000
Bosco, Larry 10,000
Bourbonnais, Mike 20,000
Brain, Kevin 116,000
Brewster, Donna 3,000
Brock, Erwin 2,000
Brown, Ian 200,000
Brown, Tina 200,000
Candler, Curt 20,000
Cavanagh, Christine 2,000
Chevalier, Wayne Thomas 20,000
Cooper, Richard 1,000
Crown, Heather 1,000
Cucuz, Dragoljub 1,000
Cucuz, Nada 1,000
Cucuz (In Trust-Juliana Cucuz), Nada 2,000
Cummings, Stephen 20,000
Cushing, Catherine A. 10,000
Cushing, Robert M. 10,000
D'Amico, Michael 10,000
Dickson, Lorraine 10,000
Dixon, Betty 2,000
D'orazio( In-trust Samara & Lucas Jeffery), Marina 10,000
Dutton, Evan 80,000
Elsley (In-trust Kristin Elsley), Sandra 3,000
Esposito, Christina 1,000
Evans, Catherine 1,000
25
Evans, David 35,000
Evans, Michael 1,000
Evans, Robin 120,000
Evans,Wendy 150,000
Evans, Gordon 4,000
Everson, Connie 8,000
Farrington, Pamela L. 2,000
Ferrante, Theresa C. 12,000
Finch, Raymond 3,000
Finch, Ruth 3,000
Forsyth, Jeffrey 50,000
Forsyth, Victoria 50,000
Gallo, Roy 40,000
Gatto, Nikkie 1,000
Gerhardt, Kent 5,000
Goodyear, Charles 24,000
Goodyear, Hope 2,000
Gordon, Rachael 4,000
Green, Michael 170,000
Harris, Barbara 8,000
Haskell, David 1,000
Haskell, Nancy 3,000
Hrin, Peter 50,000
Hunter, Gillies 300,000
Lane, Jennifer 250
Jewell, Pat 2,000
Johnson, Scott 66,000
Jordan, Earl T. 20,000
Jovanovic, Mirko 20,000
Kafal, Adam 2,000
Kafal, Paul 44,000
Kafal, Peter 52,000
26
Kajganich, Anne 2,000
Kajganich, Joanne 1,000
Kajganich, Michael 1,000
Kajganich, Nicholas 1,000
Kajganich (In-Trust Bradley Kajganich), Nicholas 1,000
Kandasamy, Fay 120,000
Kandasamy, Gerald 80,000
Kandasamy, Keith 17,000
Kelly, Mary 7,000
Kelly, Patrick 7,000
Kelly (In Trust-Scarlett Kelly), Mary 5,000
Kelly, Patrick Thomas 1,000
Kent, R. Gordon 40,000
Kobryn, David 20,000
Kobryn, Scott 30,000
Krkljus, Mile 10,000
Lane, Jeremy 100,000
Latinovic, Boro 2,000
Lazaroski, Dejan 6,000
Litalien, Connie 22,000
Litalien, Trisha 10,000
Macesic, Branko 8,000
Macesic, Milan 4,000
Macesic, Milja 4,000
MacGregor, Ian 46,000
MacGregor, Jeannette 10,000
Mackinnon, Carol Ann 2,000
MacLaren, Glenn 100,000
Martin, Patricia 20,000
27
Martino, Maria 15,000
Martino, Rocco 15,000
Martyn, Bonnie 3,000
Martyn, Gerald 3,000
Maskell, Scott 10,000
Mason, Peter 4,000
McGarry, Marion 2,000
McGaw, Dawn 500
Melchiorre, Lynn 5,000
Melchiorre, Paul 1,000
Mills, Kerry 20,000
Mitrovic, Daniela 10,000
Mitrovic, Miladin 10,000
Moldenhauer, Dean J.D. 4,000
Mrkalj, Andjelko 10,000
Orescanin, Daniel 1,000
Orescanin, John 5,000
Orescanin, Mary 1,000
Orescanin, Mildred 25,000
Orescanin, Nathan 1,000
Orescanin (In-Trust Grandchildren), Mildred 4,000
Pang Jr., Peter Allen 8,000
Paskey, Cindy 90,000
Pieterse, Frank 32,000
Pinder, Wendy 391,000
Pinder-Doede, Caitlin 2,500
Pinder-Doede, Carrie (16) 2,500
Pirsich, Stephan 2,000
Plante, Chad 2,000
Plante, Sabrina 2,500
Pompetzki, Monika 140,000
Popovacki, Carol 10,000
28
Popovich, Dara 2,000
Popovich, Dusan 20,000
Prytula, Linda (17) 28,000
Przybysz, Irene 50,000
Radojevic, Lidija 4,000
Rice, Keri Frances 20,000
Richard, Diane 200,000
Richard Jr., Gerard 20,000
Richard, Yvette 20,000
Richards, Bill 30,000
Robbins, Glenn 3,000
Robinson, Barbara 2,000
Rogers, Stephanie 2,000
Romanek, Sharron 3,000
Roth, James D. 10,000
Rouillier, Lise 3,000
Roy, Richard 50,000
Rusic, Bosiljka 1,000
Rusic, Dragon (Danny) 1,000
Saccone, Len 5,000
Samdass, James 4,000
Seburn, Janice 2,000
Senese, Karen 2,000
Senske, Jerrold 4,000
Smith, James H. 20,000
Smudja, Zeljko 6,000
Spadotto, Michael 20,000
Srdjenovic, Nedeljko 4,000
Stark, Laura 2,000
Stark, Lisa 2,000
Stark, Pamela 6,000
Stark, William 60,000
29
Stark, Amy 2,000
Stark, Doris 20,000
Stark, Juliana 2,000
Stark, Malcolm 20,000
Stathourakis, Eugenia V. 1,000
Steip, Ronald (Al) 1,000
Stoll, Joan 4,000
Tsiantoulas, Katherine 12,000
Tsiantoulas, Nicola 2,000
Tsiantoulas, Christos 4,000
Tunstall, Charlotte 2,000
Utvich, David 2,000
Utvich, Danica 10,000
Utvich, Daryl A. 2,000
Utvich, Gregory T. 2,000
Utvich, Judith 1,000
Utvich, Lauren 2,000
Utvich, Melissa E. 2,000
Utvich (In-Trust Amelia Rae Utvich), Gregory T. 2,000
Utvich Jr., Michael E. 2,000
Utvich Sr., Michael E. 2,000
Vandewater, Carolyn 5,000
Varcoe, Ryland 2,000
Varcoe, Scott 4,000
Velemirovich, Dragica 2,000
Vujic, Branislav 2,000
Water Communications Inc. (7) 400,000
Weir, Ludmilla 10,000
Widdis, Patricia J. 329,530
Wright, Grant 80,000
Yelda, Dany 4,000
30
Yorke, Steven 10,000
Zubic, Tihomir 4,000
Elsley, Sandra (21)(23) 7,750,000
Bordynuik, John (22) 37,000,000
Stark, Malcolm 133,250
Stark, Malcolm 50,000
Stark, Malcolm 50,000
Stark, Malcolm 33,250
Stark, Malcolm 40,000
Doede, Steve (8)(23) 1,400,000
Bordynuik Sr., John (9) 2,000,000
Seburn, Brian (10)(23) 75,000
Caputo, Marie 55,000
Steip, Ronald (Al) 10,000
Popovacki, John 50,000
Barnett, Alan (4) 125,000
Deurloo, Beverley Joan 120,000
Wright, Grant 80,000
D'Orazio, Marina (11) 46,875
Widdis, Patricia J. 67,000
Widdis, Patricia J. 120,000
Anthes, Thomas Victor 150,000
Kafal, Peter 48,000
Stark-Chevers, Roberta 20,000
IP Trust (12) 1,500,000
Corp. 1683091 (13) 1,500,000
Matkowski, Barbara 20,000
Goodyear, Charles 90,000
Matkowski, David 3,500
Matkowski, Derek 2,000
Falconer, Frank 20,000
Harry Fois Poultry Farms (14) 40,000
31
Myers, Howard 20,000
Mehta, Jasmin 5,000
Craig, Kathryn 15,000
Matkowski, Kathryn (15) 8,000
Yole, Leslie 8,000
Kafal, Adam 750
Kafal, Paul 1,250
Gorman, Sheri 4,250
Dorey, Jeffrey 8,000
Nicholson, Donna 5,000
Lahaie, Mike 2,000
Clarke, Steve (18) 2,000
Brown, Christopher 4,000
Stark, Lisa 8,000
Hunter, Karen 4,000
Stark, Laura 2,000
Barnett, Alan (4) 45,600
Boric, Dean 14,000
Boric, Douglas 8,000
Byford, Dennis 6,000
Cushing, Catherine 10,000
Cushing, Robert 10,000
Kvas, Anton 10,000
Macesic, Branko 16,000
Malivuk, Milan 30,000
Mitrovic, Miladin 20,000
Mrkalj, Andjelko 8,000
Prytula, Linda (17) 40,000
Robbins, Kristen 1,000
Robbins, Lara 2,000
Robbins, Valentina 3,000
Stanojcic, Andja 2,000
32
Van Dongen, Cory 10,000
Van Dongen, Wilhelmus 10,000
Optic Light (19) 10,000
Pirsich, Steve 5,000
Bordynuik, Janet 2,000
Gisel, Tara 2,000
Litalien, Connie 13,000
Albano, Bruno 2,000
Beni, Mildred 3,000
Orescanin, Mildred 120,000
Culliford, Keith 1,400
Drapeau, Lynn (20) 10,000
Maxwell, Larry (24) 10,000
Maxwell, Meredith 45,000
Schertzing, Christine 25,000
Schertzing, Bert 25,000
We have never utilized an underwriter for an offering of our securities. Other than the securities mentioned above, we have not issued or sold any securities.
[...]
Gentlemen:
You have requested our opinion, as counsel for John Bordynuik, Inc. a Delaware corporation (the "Company"), in connection with the registration statement on Form S-1 (the "Registration Statement"), under the Securities Act of 1933 (the "Act"), filed by the Company with the Securities and Exchange Commission.
The Registration Statement relates to an offering of 9,697,375 shares of the Company’s common stock.
We have examined such records and documents and made such examination of laws as we have deemed relevant in connection with this opinion. It is our opinion that the shares of common stock to be sold by the selling shareholders have been duly authorized and are legally issued, fully paid and non-assessable.
No opinion is expressed herein as to any laws other than the State of Delaware of the United States. This opinion opines upon Delaware law including the statutory provisions, all applicable provisions of the Delaware Constitution and reported judicial decisions interpreting those laws.
We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the reference to our firm under the caption “Experts” in the Registration Statement. In so doing, we do not admit that we are in the category of persons whose consent is required under Section 7 of the Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder.
Very truly yours,
ANSLOW & JACLIN, LLP
By: /s/ Gregg E. Jaclin
ANSLOW & JACLIN, LLP
195 Route 9 South, Suite 204, Manalapan, New Jersey 07726
Tel: (732) 409-1212 Fax: (732) 577-1188
Exhibit 23.1
INDEPENDENT AUDITORS' CONSENT
We hereby consent to the use in this Registration Statement on Form S-1 of our report dated September 12, 2008 , relating to the consolidated financial statements of John Bordynuik, Inc.
We also consent to the reference to our firm under the caption "Experts" in the Registration Statement.
/s/ Gately & Associates, LLC.
GATELY & ASSOCIATES, LLC.
Altamonte, Florida
April 6, 2009
google.brand.edgar-online.com |
