JAMN 10K filed today for the year ended January 31, 2011. Here are some key excerpts:
At May 11, 2011, there were 70,794,150 shares of the issuer's common stock outstanding, which number does not include 5,950,000 shares which the issuer has agreed to issue upon receipt of $2,380,000 in funding, as described in greater detail below, as the issuer has not received the $2,380,000 funding to date or physically issued such shares as of the date of this filing.
We do not currently have any employees other than our President and CEO, Anh Tran, who spends approximately 40 hours per week on Company matters and certain of our Directors, as described below. Mr. Tran is not paid nor does he accrue a salary from the Company in consideration for the services he renders. However, certain members of the Company’s current Board of Directors, as described below, assist Mr. Tran with the day-to-day operations of the Company including Paola Dooly, who works for the Company full-time in sales and marketing; Alan Lewis who spends approximately 10 hours per week on general corporate matters for the Company; and Rohan Marley who spends approximately 10 hours per week on general corporate matters for the Company.
The Company has recently become aware of various unauthorized and unaffiliated internet stock promoters who are promoting short-term investments in the Company’s common stock in their “stock reports” and on their websites. Such websites often suggest significant short-term profits can be made by purchasing the Company’s common stock. Pursuant to language on such websites, the promoters have been paid by third parties of the Company with whom the Company has no knowledge or affiliation. The Company takes no responsibility for any such information which is put out by non-affiliated third parties, or for any information which is paid for by third parties and further takes no responsibility to update or correct such information.
Total Assets $ 861,185
Revenue $ 1,037
On December 22, 2010, the Company entered into a Share Issuance Agreement (the "Agreement") with Straight Path Capital, a company incorporated in the Republic of the Marshall Islands ("Straight Path"). Pursuant to the Agreement, the Company has the right to request Straight Path to purchase up to $2,500,000 of the Company's securities at a price per share of $0.40, until December 22, 2011, unless extended by either the Company or Straight Path for an additional twelve (12) months, and subject to the terms of the Agreement.
