The 3 Sides to John:
Side 1. To the retail investor/general public:
December 1, 2009 at 12:45 PM
John Bordynuik: You're witnessing something rare: a company's stock trading without a biased analyst BS'ing you and no stock promoters taking advantage of thousands of people. The company has no free trading shares to sell - its up to our shareholders to spread the word. Our trading pattern isn't odd.. it's what the market would look like without promoters, paid analysts or funds selling their stock to a song and dance.
Side 2. To insiders:
January 28, 2010 at 11:52 AM
John Bordynuik: I will provide the agreement I used for Jacob and Ron Kurp. The stock is coming from my holdings so the exchanges can't get funny about it. It is 500k out of my pocket so I am dealing with Gregg on the agreement.
My concern is how to deal with the employee stock option plan and salary. Cash salaries hit the bottom line hard and don't look like value-based management. The SEC created S-8 stock (or options) stock to allow a growth company to grow without having to pay exec salaries because the S-8 stock can be sold into the market as cash. They are securities registered for sale the moment I file it. They have been abused in the past so the SEC looks at these closely which will then in turn cause a greater flurry of requests to come from FINRA and the SEC.
Side 3. To enforcement:
OSC: On or about October 23, 2009, Bordynuik caused some of the shares represented by that certificate to be transferred to fourteen different transferees, none of whom were beneficiaries of the trust.
Again on December 10, 2009 Bordynuik caused 300,000 shares to be transferred improperly from the Childrens’ Trust’s account to the benefit of Bespoke Growth Partners. Bespoke Growth Partners was not a beneficiary of the Childrens’ Trust.
Bordynuik used the Childrens’ Trust account at DS as a reservoir of JBI shares which he then distributed to people who had provided services to or had been involved in or friendly to the company’s operations.
Bordynuik adopted this practice, which violated the terms of the Childrens’ Trust, so as to put free trading and not restricted stock, in the hands of third parties.
