Wednesday, December 08, 2010 2:02:56 PM
Here is my prior post (with some omission):
Rather than reading and quoting from another message board poster’s selective (and reorganized) presentation of the filings, try going straight to the underlying documents. Context is quite valuable when interpreting the intended meaning of specific statements.
Let’s consider some of the examples raised by people as demonstrative of corporate improprieties. How about these posts?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57080646
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57082849
Really, the SEC and FINRA have been making a large number of “requests” of JBI? Is the poster suggesting that some form of investigation is underway?
Let’s add some of the omitted language from the email in question to see if it illuminates the meaning of the CEO’s statement.
http://viewer.zoho.com/docs/g4bpaf
Wow, look at that! The CEO was expressing concerns related to the use of a particular form of employment compensation, raised during pre-contract discussions with an employee. I would think it is a good thing that the CEO is giving careful consideration to regulatory compliance concerns when discussing potential employment contract terms.
Now let’s look at the language that you have cited as establishing stock market manipulation, but add some more context taken verbatim from the filing.
Okay, so some investment banks spoke favorably of the company, and the CEO expressed the goal of centralizing some operations and implementing accounting controls. You consider that stock market manipulation? Sounds to me like working on efficiency.
Here is the other statement you raised (which preceded the last one by several paragraphs in the email).
This statement leaves the most room for interpretation. I think we can agree that the CEO is likely referring to keeping the market price of the stock up. Of course all CEOs want to do that. What I don’t see is why you think the CEO wishes to keep the price up based on expectations, rather than delivery. Doesn’t he clearly state that he needs “perfect execution of P2O” to maintain a high share price? Is execution not akin to delivery? And how do you infer from this that the CEO is disregarding earnings (or viewing them as secondary)? Keep in mind that you are looking at a single email (or select portions of a single email) that was undoubtedly part of an ongoing exchange of communications between two corporate agents; it is not tantamount to a business plan. Stability, growth, and efficiency should be at the forefront of any start-up’s plans, and I think the emails embody each of those concern. Note that the remainder of that email you quoted focuses on increasing margins (i.e., profit), consolidation of operations, and implementing monitoring and accounting controls.
Context is essential. If you haven’t already, I encourage you to read the actual documents, keeping in mind that the documents at issue have been pieced together as part of a former employee’s case against the company and CEO for allegedly failing to fulfill obligations in connection with the employment arrangement.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57090636
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