Friday, February 09, 2007 9:00:01 PM
Virtual Keyboard, the trading price of the company's shares rose from less than $0.005
to as high as $0.06 per share. Schilling and Perkins took advantage of the inflated stock
price by selling $1 million of their own iBIZ Technology shares and illegally
distributing approximately $3 million of newly issued iBIZ Technology shares through
stock sales by defendants Jeffrey Firestone, D. Scott Elliott, and Jerrold McRoberts.
The inflated stock price also enabled iBIZ Technology to eliminate approximately $2.8
million of convertible debt that it was otherwise powerless to repay.
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