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Friday, November 19, 2010 1:12:57 PM
Now we know why Pakit and Javaco sold out to JBI. They must have saw this 8K and beleived the tape business was a huge money maker and/or the CEO told them it was a huge money maker that it clearly wasn't. It all makes sense now. Unbelievable!
http://www.sec.gov/Archives/edgar/data/1415602/000121390009000261/f8k021009_expedite2.htm
"The following is a summary of the expected revenue and costs resulting from the production of 18,000 tapes/month (one truckload):
Revenue:
Per tape cost to customer to recover data (volume order of 18,000 tapes/month) is $25/tape.
Per tape cost to customer to shred tape (volume order of 18,000 tapes/month). JBI can read one tape every 15 minutes per drive.
Total cost to customer: $25/tape
JBI costs incl. expenditures/tape (1 shift): $14/tape
Total revenue/18,000 tapes: $450,000.00
Gross Profit per truckload of tapes: $198,000.00"
LOL....I suggest you read up on what book value is and look at yahoo finance and see how many companies trade for multitudes higher than their book value then do a search for acquisitions and see how many are bought for multitude higher than their book value.
You really thought paying higher than book value for something is rare? lol
"Since companies are usually expected to grow and generate more profits in the future, market capitalization is higher than book value for most companies."
http://www.investorwords.com/549/book_value.html#ixzz15kFg7yoT
Example:
Average Technology stocks trade at 36 times book value:
Average business software stocks trade at 9 times book value:
http://biz.yahoo.com/p/826conameu.html
And you're screaming fraud because the assets were paid for at a price of less than 3 times book value? ROFL!!!!!!
I guess the entire technology sector is a fraud 12 times bigger then.
FBI CORPORATE FRAUD HOTLINE - 888-622-0117
This personally manned hotline will provide the general public with the opportunity to furnish information concerning suspected Corporate Fraud matters directly to the FBI in Washington, DC, via our toll-free
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