"There is no dispute that Plaintiff received 100,000 shares of JBI stock, in a Certificate issued March 21, 2010, as required by his Employment agreement"
Where are these shares accounted for?
"Year-to-date, the Company has issued 839,397 shares of stock as compensation to various parties at an expense of $3,314,609. Of these, 4,700 were issued to employees of Pak-It, 100 shares per employee, on January 7, 2010. On February 25, 2010, the Company issued a total of 400,000 shares to 5 key employees and consultants as bonuses and for past services. During the second quarter, 175,800 shares were issued for services rendered, 10,000 shares were issued to each of the Company’s three independent members of the Board of Directors, and the remaining 13,474 were issued to 3 employees. During the third quarter, 30,000 shares were issued for services rendered and 185,423 were issued to employees as bonuses. The shares issued were generally valued at the closing share price on the respective issue dates and were reported as operating expenses in the statement of operations. Shares issued to settle existing monetary commitments were valued at the existing commitment amount."
sec.gov
"During December 2009, the Company issued Mr. Bordynuik 1 million shares of Series A Super Voting Preferred Stock (“Preferred shares”) in exchange for the return of 30,000 shares of the Company’s common stock. Preferred shares have no conversion or dividend rights, but carry 100 to 1 voting rights (as compared to common shares). Further, Mr. Bordynuik returned and retired 9,970,000 common shares to the Company during 2009, and an additional 21,000,000 shares were returned to the Company and retired in March, 2010."
"In October, 2010, CEO John Bordynuik canceled 200,000 of his shares, a private placement stock certificate was adjusted by 5,000 shares to the correct amount, and the Company issued 410,000 shares as compensation for services and to employees thereby raising the total outstanding shares by 215,000."
sec.gov
as of July 8, 2010, and by the officers and directors, individually and as a group. Except as otherwise indicated, all shares are owned directly:
John Bordynuik, Chairman and Chief Executive Officer, President
9,273,846
But the last Form 13D filed by JB:
40,250,000 shares of the Issuer's common stock were acquired by the Reporting Person on April 24, 2009 and an additional 809,953 shares were issued to the Reporting Person pursuant to an Asset Purchase Agreement dated June 25, 2009.
The Reporting Person has 41,059,593 common shares of the Issuer. Such amount represents approximately 64 % of the total issued and outstanding common shares of the Issuer.
Subtract the 31 mill he returned and that left 10,059,593... Where are the 809k shares issued for tape eqpt and the 66k shares issued for $200k cash? |
