3/24/2020 complaint sure does name JMJ as a broker dealer.
And that would explain why no toxic dumping.
"Permanently restraining and enjoining Keener from participating in the offering of any penny stock, including engaging in activities with a broker, dealer, or issuer for purposes ofissuing, trading, or inducing or attempting to induce the purchase or sale of any penny stock, under Exchange Act Section 21(d)(6). [15 U.S.C. § 78u(d)(6)]"
Bandman, I stand corrected.
Not only is there no toxic dumping, there might even be relief for JMJ borrowers. MXSG was not one of the victim companies named in this doc but might be in the court case. Maybe recover something.
Still the loans did bridge the company until they became cash flow positive. So, all in all, they were brutally expensive but did the job. And these last two loans will probably turn out to be much less hurtful. What will happen with the stock issued to them is something to be determined by the court.
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