and who is the shareholder?
I didn't think about the tape eqpt (I was thinking P2O). The 10K does say the data business was dormant in 2010 but they are beginning to restore existing customers data (while not seeking new customers).
Could be more of the DE-JBI cover-up. The 809k shares he issued himself are now valued at ~$350k whereas the other stock issuance line-items describe that other stock as priced at the closing price of the day they were issued. I can't find any valuations for the tape eqpt now even though both the Pak-It and Javaco acquisitions were restated again for the umpteenth time.
Many possibilities:
Justice37 - Alias Born 10/24/2010
siliconinvestor.com
howto - Alias Born 11/19/2010
siliconinvestor.com
In December 2010, the Company consummated a confidential private placement for the issuance and sale of 2,430,000 Common stock at a price of $0.50 per share. The Company received gross proceeds in the amount of $1,189,000, net of share issue costs of $26,000.
On December 1, 2010 the Company entered into a secured short-term loan agreement with an existing shareholder. The loan was used for working capital purposes and bears interest at an annual rate of 6%. The entire principal of the loan together with all accrued interest is due and payable on December 1, 2011. The loan is secured against the receivables and assets of Pak-It.
$100,781 -
In November 2010, a member of the Board of Directors entered into a short-term loan agreement with the Company. The loan bears no interest and is due on November 22, 2011. The loan was used for working capital purposes.
$35,000 -
In November 2010, a member of the Board of Directors entered into a short-term loan agreement with the Company. The loan bears no interest and is due on November 22, 2011. The loan was used for working capital purposes.
$30,000
Javaco, Inc. has a $200,000 credit line available through a financial institution, which is renewable on an annual basis and carries an interest rate of 4.25%. No balance was due under this note as of December 31, 2009 and the credit line was not renewed.
Pak-It, LLC has a $1,550,000 credit line available through a financial institution which is renewable on an annual basis and carries an interest rate of prime rate of interest plus one-half percent. No balance was due under this note as of December 31, 2009 and the credit line was not renewed.
$ 365,601
On October 1, 2009 the Company entered into an employment agreement with Rui Gama for a term of two years from the date of signing. The Employee is to be paid a base salary of $65,000 per year. Subject to the terms and conditions provided in this Agreement, the Purchaser agrees to grant the Employee yearly an ISO of 120,000 shares.
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