Thursday, April 12, 2012 4:26:47 PM
I don't buy that for a minute, but consider this:
During the period that the 5/31/08 Domark balance sheet was made public....the one on which the credits first appeared versus the 11/30/08 balance sheet that you linked......and in the ensuing THREE years, Domark shares didn't trade at all on more than half of the days that the market was open. There were only a handful of days during that period for which more than $20,000 worth of shares changed hands.
I saw no evidence that Domark raised any funds through the issuance of shares from the date when the media credits were first reflected on their balance sheet until the time that they were sold to JBI.
On the other hand, the time between the PRIVATE PLACEMENT MEMORANDUM date of 10/5/09, when certain investors were first exposed to the false media credit valuation, through its appearance on the Q3 2009 and the 2009 10K up until the time that the company admitted that those statements shouldn't be relied upon in May 2010, was the most active in dollar value of shares traded in the company's history. It achieve its all time high price....not to be exceeded since.....and there were a number of days for which share volume exceeded $1Million.
During the period when JBI represented that they owned a $10Million asset, they raised $8Million in share issuances.
I know that you'll want to confirm all that:
http://www.nasdaq.com/symbol/domk/historical
http://www.nasdaq.com/symbol/jbii/historical
http://sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001365160&type=&dateb=&owner=exclude&start=40&count=40
http://sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001381105&owner=exclude&count=40
So, while 1)there is no need or basis for the SEC to justify their complaint against JBI & company other than their violations of securities laws, 2)the SEC has no obligation to track transactions in order to ensure that issuers treat similar assets similarly and 3)an asset could obviously mean more to one party than another (try selling ice to Eskimos), there are some very practical, common sense reasons why the SEC didn't pay any attention to Domark's filings:
their impact on the trading of Domark's securities was negligible and they weren't part of a fund raising effort.
"Why didn't the sec spank domark:"?
Given the circumstances, it would have been a waste of their resources.
Anyone who hates children and animals can't be all bad......W. Claude Dukenfield
ZenaTech, Inc. (NASDAQ: ZENA) Launchs IQ Nano Drone for Commercial Indoor Use • HALO • Oct 10, 2024 8:09 AM
CBD Life Sciences Inc. (CBDL) Targets Alibaba as the Next Retail Giant for Wholesale Expansion of Top-Selling CBD Products • CBDL • Oct 10, 2024 8:00 AM
Foremost Lithium Announces Option Agreement with Denison on 10 Uranium Projects Spanning over 330,000 Acres in the Athabasca Basin, Saskatchewan • FAT • Oct 10, 2024 5:51 AM
Element79 Gold Corp. Reports Significant Progress in Community Relations and Development Efforts in Chachas, Peru • ELEM • Oct 9, 2024 10:30 AM
Unitronix Corp Launches Share Buyback Initiative • UTRX • Oct 9, 2024 9:10 AM
BASANITE INDUSTRIES, LLC RECEIVES U.S. PATENT FOR ITS BASAFLEX™ BASALT FIBER COMPOSITE REBAR AND METHOD OF MANUFACTURING • BASA • Oct 9, 2024 7:30 AM