Interesting new JBII stock facts:
10,809,593 shares owned by John Bordynuik were disposed of between July 15 and Nov 6, 2009 with no indication of their disposition listed in any filing.
Here's how he could have done it: sell the 809,592 shares given to himself on July 15 and cancel 10,000,000 of his 41,059,593 shares held as of Aug 11. That would leave him with 30,250,001. Add the 23,846 restricted shares he issued himself on June 30 and the total comes to 30,273,846, the amount listed in the Nov 6 JBII Pre-14 filing (the 23,846 shares were not delivered to Bordynuik until between July 20 and Nov 6).
Also, 9,909,487 shares were removed from the OS between May 20 and June 30, 2009. 4,934,593 shares were added to the OS between June 30 and Nov 16, 2009.
This OS discrepancy can be explained by the company issuing 5,001,260 new shares between May 20 and Nov 6, 2009 (adjusting for the 23,846 shares issued/delivered between June 30 and Nov 6) and Bordynuik canceling 10 mill shares of his personal holdings as I suggested above.
Between Nov 6, 2009 and May 10, 2010, 12,433,344 new shares of JBII have been issued by the company.
Note: 9,000,000 shares were made available for the $.80 PIPE and are accounted for by the OS increase from 58,725,106 to 68,701,056 between Nov. 6 and Jan. 27. Also, the 66,667 shares Bordynuik sold to JBII on June 30 would have been a net wash towards his total Direct and Indirect ownership as reported on the Form 3 and Form 13D).
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June 30, 2009: JBII (then TRTN) issues 23,846 shares of restricted common stock to John Bordynuik to satisfy loans made for operating capital in the amount of $71,538 ($3 per share).
sec.gov
sec.gov
June 30, 2009: JBI, Inc.(a Delaware corporation controlled by Mr. Bordynuik) pays John Bordynuik $200,000 for 66,667 shares of JBII common stock (at $3 per share)
sec.gov
sec.gov
July 15, 2009: JBII announces the issuance of 809,593 shares of JBII common stock to John Bordynuik, closing the "Asset Purchase Agreement" with John Bordynuik, Inc. (JBI)
sec.gov
40,250,000
+ 809,593
= 41,059,593
Aug 11, 2009: John Bordynuik files Form 13D reporting ownership of 41,059,593 shares of JBII common stock
sec.gov
- he is excluding the 23,845 shares given to himself $73k loan repayment.
Nov 6, 2009: John Bordynuik holds 30,273,846 shares of JBII common stock
sec.gov
41,059,593
+ 23,846
- 30,273,846
= 10,809,592 shares owned by John Bourdynuik disposed of between July 15 and Nov 6, 2009.
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May 20, 2009: JBII (then TRTN) OS is 63,700,000
sec.gov
June 30, 2009: JBII OS is 53,790,513
sec.gov
Nov 6, 2009: JBII OS is 58,100,106. AS is raised from 70 million to 150 million.
sec.gov
Nov 16, 2009: JBII OS is 58,725,106
sec.gov
May 10, 2010: JBII TA reports OS is 50,158,450, 26,708,450 of which is restricted (71,158,450 adjusted for the 21 million shares canceled by Bordynuik)
siliconinvestor.com
63,700,000
-53,790,513
= 9,909,487 shares removed from the OS between May 20 and June 30, 2009
58,725,106
-53,790,513
= 4,934,593 shares added to the OS between June 30 and Nov 16, 2009 |
