Wow I just noticed this whopper:
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE
In March 2010, CEO & President John Bordynuik returned 21,000,000 shares to the Company.
In October 2010, CEO & President John Bordynuik returned 200,000 shares of common stock to the treasury.
In November 2010, a member of the board of directors entered into a short-term loan agreement with the Company. The loan was in the amount of $30,000, it bears no interest and is due in November 2011. The amount of the loan is not material and was used for working capital purposes.
Except as set forth above, none of the following persons has any direct or indirect material interest in any transaction to which we are a party since our incorporation or in any proposed transaction to which we are proposed to be a party:
(A) Any of our directors or officers;
(B) Any proposed nominee for election as our director;
(C) Any person who beneficially owns, directly or indirectly, shares carrying more than 10% of the voting rights attached to our Common Stock; or
(D) Any relative or spouse of any of the foregoing persons, or any relative of such spouse, who has the same address as any of our directors or officers.
sec.gov
None of their officers or directors had a direct/indirect material interest in the Pak-It acquisition, PIPE shares, etc???
None of their nominees had a direct/indirect material interest in the Pak-It, PIPE shares, loans to the company, etc???
Honest John is the only one to have owned more than 10% if memory serves. Didn't he have a direct/indirect material interest in the "certain assets" he purchased from himself with $millions of JBII stock (later revalued to $300k)?
No relative or spou.... screw it I give up! :) |
