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Thursday, October 28, 2010 10:10:24 AM
150k.. just went poof?
in the 10k
While the acquisition of the media credits was connected to the acquisition of Javaco, it was the subject of a separate agreement which specified the purchase price of 1,000,000 shares of the Company’s common stock. Accordingly, once management determined the value of the media credits was overestimated, the value of the shares given in exchange was charged to operations.
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Where?
On August 24, 2009, the Company purchased 100% of the issued and outstanding shares of Javaco, Inc. in exchange for $150,000 in cash and 2,500,000 shares of the Company’s common stock, valued at $2,500,000.
10-K/A
www.sec.gov/Archives/edgar/data/1381105/000121390010002805/f10ka2009_jbi.htm
in exchange for $150,000 and the issuance of 2,500,000 shares of the Company’s common stock to Domark.
http://www.sec.gov/Archives/edgar/data/1381105/000121390009002359/f8k082409_310.htm
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