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To: jimmenknee who wrote (4077)	12/20/2010 9:22:35 PM
From: SteveF	Respond to of 53574

Don't forget JB left himself 9 mill shares after retiring 31 million. Convenient that exactly 9 mill shares were offered for the .80 PIPE. Anyone see JB's current holdings in a recent filing? He can't still have that entire 9 mill. Anyone wanna bet the $.80 PIPE shares coming off restriction are coming from his personal holdings?

To: jimmenknee who wrote (4077)	12/20/2010 11:29:50 PM
From: SteveF	Respond to of 53574

"but the logic of having a lot of shares in a shell going nowhere -vs- a little less amount of shares in something that has some semblance of trading liquidity has a ring to it." I think it explains everything perfectly. We've known all along the JB could sell his 40 mill shares on the market without loads of filings plus devastating the PPS to subpenny immediately. Instead he figured out a way to sell them privately and pocket upwards of $5 million bucks while creating pump hype about the CEO returning his own stock to the Treasury. When it's all over he has $5 mill and the JBII stock he issued DE-JBI for the assets, loans, etc, while he appears relatively clean. I wonder if he'll get away with it.

To: jimmenknee who wrote (4077)	12/21/2010 9:37:50 AM
From: SteveF	Respond to of 53574

The original 10K contains this line: "Presently Mr. Bordynuik personally owns approximately 9 million shares of common stock (restricted) and 1 million shares of preferred stock (restricted no dividends)." The following table provides the names and addresses of each person known to us to own more than 5% of our outstanding shares of common stock as of March 31, 2010: John Bordynuik, Chairman and Chief Executive Officer, President 9,273,846 In the latest restatement filed Dec 16, the sentence saying "Presently Mr. Bordynuik personally owns..." has been removed and instead of reporting his holdings as of the filing date (Dec 16) we get: "The following table provides the names and addresses of each person known to us to own more than 5% of our outstanding shares of common stock as of July 8, 2010 John Bordynuik, Chairman and Chief Executive Officer, President 9,273,846" July 8 was a long time ago - and it's when the $.80 PIPE shares began coming off restriction. I'll bet money the $.80 PIPE shares have been coming from those holdings and he doesn't have anywhere close to that amount left. Original 10K: sec.gov Latest restated 10K/A: sec.gov