Thursday, April 10, 2014 1:22:04 PM
a) During the Distribution Period, Bordynuik effected distributions of securities of JBI John Bordynuik Inc. when a preliminary prospectus and a prospectus in respect of such securities had not been filed and receipts had not been issued for them by the Director, contrary to subsection 53(1) of the Act;
b) During the Distribution Period, Bordynuik signed and certified SEC filings containing JBI financial statements with respect to the quarter ended on September 30, 2009 and the 2009 year-end that were not compliant with GAAP, contrary to s. 126.2 of the Act, and acknowledges that the effect of so doing may have been to mislead Ontario investors;
c) Bordynuik inappropriately utilized a trust account and trust arrangement to distribute shares of JBI in violation of the trust, contrary to the public interest and s. 127 of the Act.
http://www.osc.gov.on.ca/documents/en/Proceedings-SOA/soa_20140401_bordynuikjw.pdf
A casual stroll through the lunatic asylum shows that faith does not prove anything. Friedrich Nietzsche
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