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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: anniebonny who wrote (113099)	5/18/2011 1:36:36 PM
From: scion	1 Recommendation Read Replies (1) \| Respond to of 122087

JAMN Finally Spills the Beans -- And It's an Ugly Mess by Janice Shell, 5/18/2011 10:46:36 AM * Editor's Note: Readers can access links to additional backup documents for this story by clicking here for TheStreetSweeper's original investigative report on this company. Late Tuesday afternoon, after missing earlier deadlines, Jammin Java (OTC: JAMN.OB) filed a long-awaited annual report packed with enough eye-opening news to keep investors up all night. That mandatory filing, unaccompanied with a cheerful press release heralding its arrival, served as a painful wake-up call to shareholders already burned by a rapid plunge in the company’s stock price. To be sure, the 10-K offered investors little reason to sing. For starters, the filing reveals, this once-hot “coffee company” sells no coffee of its own at all. JAMN relies on a supplier based in frigid Canada – far away from the tropical Jamaican home of its co-founder Rohan Marley – to provide the company with an actual product to sell to its customers instead. Back in April of 2010, JAMN inked a “supply and toll agreement” with Canterbury Coffee of British Columbia that gave it access to some brew. According to that agreement, JAMN relies on Canterbury to fulfill every role – save a minor one – normally satisfied by a firm that classifies itself as a coffee company. Canterbury purchases the coffee beans. It roasts them. And it then packages them in bags supplied by JAMN – the company’s only real product – for sale to the public. JAMN signed this deal more than a year ago, right before Shane Whittle – a notorious Vancouver stock promoter – officially resigned as CEO of the company. But the company never mentioned that agreement, seemingly material enough to warrant at least a quiet 8-K report, in a single regulatory filing until now. more... thestreetsweeper.org