In addition, Bordynuik learned that the CEO of NewsUSA, the parent company of Media4Equity (the original source of the media credits in a purported arms length transaction with Domark), was previously on the Board of Directors of Domark. On September 21, 2009, the consultant informed Bordynuik of the suspect relationship via Skype message, “BTW, I just discovered that the CEO of NewsUSA is a prior director of Domark.” Bordynuik responded, also via Skype, “I saw that. Yuck.”
Despite having renewed doubts about the source of the media credits, the credibility of Domark’s CEO, and being warned about the proper GAAP treatment of the media credits by JBI’s own consultant and business consultant, Bordynuik directed that the media credits on JBI’s financial statements contained in its Form 10-Q, filed on November 16, 2009, for the quarter ended September 30, 2009, be listed at the purported face value of $9.997 million.
Doc 1 PDF file
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DOMARK - DOMK
On March 17, 2009, the Board of Directors appointed Gregg E. JACLIN as members of our Board of Directors.
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On August 14, 2009, Greg Jaclin and Terry Carlson resigned as members of the Board of Directors. There were no disagreements with Greg JACLIN or Terry Carlson on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure
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Gregg Jaclin DMRK/JBII Timeline:
Mar 17, 2009: Gregg Jaclin (Bordynuik's Securities Lawyer) appointed to Domark Board of Directors
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Apr 6, 2009: Expedite 2 (Delaware-incorporated JBI, Inc.) files S-1 to register 9,697,375 shares of JBI, Inc for sale; filed by Anslow & Jaclin, independent accountant is Gately & Associates
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Aug 14, 2009: Gregg Jaclin (Bordynuik's Securities Lawyer) resigns from Domark Board of Directors
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Aug 17, 2009: JBII's first filing represented by Anslow & Jaclin, LLP
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Aug 24, 2009: JBII acquires Javaco from Domark for $150k cash and 2.5 million shares of JBII common stock. JBII also acquires "Media Credits" valued at $10 million from Domark for 1 million shares of JBII common stock
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Aug 26, 2009: Thomas Kidd resigns as CEO of Domark
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Sep 10, 2009: Domark gives Thomas Kidd 3.5 million shares of JBII common stock as part of a debt settlement agreement.
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Now compare the dates of the auditor shuffle below and tell me Jaclin hasn't played a central role in this con.
Aug 6, 2009: TRTN fires Moore & Associates as their accounting firm (original accountant for the 310 Holdings (TRTN) shell
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Aug 6, 2009: TRTN hires Seale and Beers, CPA to replace Moore
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Aug 14, 2009: TRTN hires Gately & Associates to replace Seale and Beers, CPA
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Aug 27, 2009: Moore and Associates, Chartered (fired as TRTN's auditors on Aug 6), has their PCAOB registration revoked
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May 14, 2010: JBII fires Gately & Associates as JBII's independent registered accountant
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May 14, 2010: JBII hires Withum + Brown, PC to replace Gately as auditor
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-then Gately's PCAOB reg is revoked too, the Ernst replaced Withum and MSCM replaced Ernst....
-Domark's accountant (O'Donnel or something ALSO had his PCAOB registration revoked a few months ago forcing Domark to announce restatements of their financials as well)) |
