Another JBII Form 8-K Filing Date 2010-05-21 [...]
Item 1.01 Entry into a Material Definitive Agreement
On May 20, 2010, JBI, Inc., (the “Company”) consummated a confidential private placement (the “Private Offering”) with certain accredited investors for the issuance and sale of 488,779 shares of the Company’s common stock, $0.001 par value per share (the “Common Stock”) at per share price of $4.00 for aggregate offering proceeds of $1,955,116.
The Private Offering was conducted on a best efforts basis with a minimum investment of $10,000 by the Company’s officers and directors. The gross proceeds received by the Company was $1,955,116.
Item 3.02 Unregistered Sales of Equity Securities
The information pertaining to the sale of the Common Stock in Item 1.01 is incorporated herein by reference in its entirety.
The Private Offering and issuance of Common Stock was an unregistered sale of securities conducted pursuant to Rule 506 of Regulation D or Regulation S promulgated thereunder. Such securities were not registered under the Securities Act of 1933.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
None
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized
JBI, INC.
Date: May 21, 2010 By: /s/ John Bordynuik John Bordynuik Chief Executive Officer
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