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Pastimes : Plastics to Oil - Pyrolysis and Secret Catalysts and Alterna -- Ignore unavailable to you. Want to Upgrade?

To: scion who wrote (4258)	12/24/2010 2:20:17 PM
From: scion	Respond to of 53574

In June 2010, the Company acquired a fuel-blending site from a minority shareholder for $130,000 (Canadian dollars). Further, in October 2010, the Company issued an additional 20,000 shares of common stock to this individual as compensation for services provided in conjunction with setting up the property for operations. NOTE 7 – LONG-TERM DEBT Long term debt consists of the following at September 30, 2010: Mortgage note payable to seller, in monthly installments of $1,610 (Canadian dollars), 7.0% interest only, due on July 15, 2015, secured by office building and land. The balance outstanding at September 30, 2010 was $271,845 (US dollars). NOTE 6 – RELATED PARTY TRANSACTIONS FORM 10-Q sec.gov On June 17, 2010, the Company purchased a building to be used as a corporate office. The purchase price was $369,769. The Company put $97,308 down and the vendor took back a five-year mortgage for $272,461 at an interest rate of 7%. The mortgage is denominated in Canadian dollars and will fluctuate based on the exchange rate in effect. NOTE 13 – SUBSEQUENT EVENTS AMENDMENT NO. 2 TO 2009 ANNUAL REPORT Jbi/Inc • 10-K/A • For 12/31/09 sec.gov 2bigcats Share Friday, December 24, 2010 12:25:20 PM Re: None Post # of 85241 SCION......You were questioning about bankruptcy documents having to do with possession of the blending facility. I will save you the trouble of paying for the documents at the Registry Office. There were 2 registered mortgage holders against the property and therefore the trustee could not remove any of the fixed assets from the property and the property automatically reverted to the mortgage holders. Glenn just happen to be one of the mortgage holders. siliconinvestor.com