It appears as though the JBII CEO liquidated 833,439 of his personal shares between Aug 11, 2009 and Jan 27, 2010, unless he filed incorrect numbers for his personal holdings with the SEC.
The 809,593 and 23,846 share blocks issued to him by the company are missing from his personal holdings reported in the 8K/A filed on January 27, 2010. Both of those blocks, however, are shown as OS increases in JBII filings by Nov 6, 2009.
CEO Holdings Timeline
Apr 24, 2009: John Bordynuik purchases 40,250,000 shares of 310 Holdings common stock (TRTN) from former CEO Nicole Wright for $80,000 (representing 63% of the OS). 310 Holdings (TRTN) is eventually renamed JBII.
sec.gov
40,250,000
June 16, 2009: TRTN CEO/CFO John Bordynuik returns 10,000,000 of his personally-owned TRTN common to the Treasury
sec.gov
10,000,000 cancellation not reflected in the numbers until after Aug 11, 2009
June 30, 2009: 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
23,846 shares issued not reflected until the Nov. 6, 2009, Pre-14c
July 15, 2009: TRTN announces the issuance of 809,593 shares of JBII common stock to John Bordynuik Inc., 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 TRTN common stock
sec.gov
41,059,593 - 10,000,000 = 31,059,593
31,059,593 + 23,846 = 31,083,439
Nov 6, 2009: JBII files Pre-14C reporting John Bordynuik holds 30,273,846 shares of JBII common stock
sec.gov
31,083,439 - 30,273,846 = 809,593 shares disposed of between Aug 11 and Nov 6, 2009
-809,593 is the number of shares given to John Bordynuik to close the Asset Purchase Agreement on July 15, 2009
-JBII PPS traded between $1.38 and $1.16 between Aug 11 - Nov 6, 2009
Jan 27, 2010: JBII announces that CEO John Bordynuik will own 9,250,000 common shares of JBII stock and 1,000,000 preferred following cancellation of 21 million shares
sec.gov
21,000,000 + 9,250,000 = 30,250,000
30,250,000 - 30,273,846 = 23,846 shares were disposed of by Bordynuik between Nov 6, 2009, and Jan 27, 2010.
-23,846 is the number of shares given to Bourdynuik to settle loans at $3/share on June 30, 2009
-JBII PPS traded between $1.16 and $4.45 between Nov 6, 2009 and Jan 27, 2010, with it's historical high of $7.45/share on Dec 31, 2009
JBII OS Timeline
May 20, 2009: TRTN OS is 63,700,000
sec.gov
June 16, 2009: TRTN CEO/CFO John Bordynuik returns 10,000,000 of his personally-owned TRTN common to the Treasury
sec.gov
63,700,000 - 10,000,000 = 53,700,000 OS
June 30, 2009: TRTN (John Bordynuik, CEO/CFO) issued 66,667 shares of TRTN common stock to JBI, Inc.(a Delaware corporation controlled by John Bordynuik) in a private placement for $200,000 ($3 per share)
sec.gov
sec.gov
53,700,000 + 66,667 = 53,766,667 OS
June 30, 2009: 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
53,766,667 + 23,846 = 53,790,513 OS
June 30, 2009: TRTN OS is 53,790,513
sec.gov
July 15, 2009: TRTN announces the issuance of 809,593 shares of JBII common stock to John Bordynuik Inc., closing the
"Asset Purchase Agreement" with John Bordynuik, Inc. (JBI)
sec.gov
53,790,513 + 809,593 = 54,600,106 OS
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
sec.gov
54,600,106 + 3,500,000 = 58,100,106 OS
Nov 6, 2009: JBII OS is 58,100,106. AS is raised from 70 million to 150 million.
sec.gov |
