Sorry, neither GAAP nor the SEC recognize psychic valuations. LOL.
Even ignoring JB's vaunted IQ and acute business ability, as well as his lack of accounting training, something you just bought for $1 million is actually worth $10 million? Nah, doesn't work that way, even if the seller is really, really dumb.
"The world is a dangerous place, not because of those who do evil, but because of those who look on and do nothing."
-- Albert Einstein