The PR campaign was a success for shareholders (as I said) but bad for traders and shorts.
From: John Bordynuik [john@johnbordynuik.com] Sent: Sunday, January 31, 2010 11:58 AM To: Michael KAPLANIS Cc: Geoffrey C. Weber Subject: Re: Follow up
The following list is highly confidential and is what I have been working on the past five weeks -- I have been doing the public market strategy which is working. I will continue to bring the market price up but we'll need earnings behind in the short term to keep the momentum with the market. I can keep us a 1000x multiple with perfect execution of PZO. I need other acquisitions to build a floor on the stock. Due to the material nature of these releases only my core group know of this list below(including Geoff).
Please don't trade the stock during the next 3 weeks -- you can expect FINRA to pull all the transactions after this massacre.
A few other notes about what my strategy is internally:
Power Plays: There have been a few between Steve Seneca (Paklt) and others who wish control. I know you are moving to Florida but JBI Admin and Executive are being scattered all over North America. I don't believe we need a centralized office other than Accounting Controls (limited to compliance and reporting only -- Florida). We do things differently so don't be afraid to do something that makes the market cringe at first... We have a great track record and the market is liking what we are building. It can take them time to get their heads around what we are doing sometimes.
Finance: Ron Baldwin is perfect for maintaining 100% accurate books and reporting. Ron is not involved in financial models or financing and is not entrepreneurial. He is amazingly bright and the best at what he does. I have been financing the company and meeting with investment banks. I'd like you, I and Geoff to handle this in the future. I'd like to rip out the accounting depts in every company we acquire and centralize the day-to-day accounting through Philly and have Ron's team handle the consolidation, monitoring, controls, etc... Javaco is a prime example with low margins and a mom and pop business. They pay these people too much and we can't get value for it. As well, I generally find the mom and pops have a loyalty to long-time employees and this costs us. I am setting up centralized bank accounts for all entities and Ron Kurp and I are signers for all. Jacob Smith is an excellent COO and is handling Paklt operations at this time. Jacob is finding us an accountant in Philly who will handle receivables/payables for all the entities.
Javaco: I advised Linda Burr that if we can eliminate some people at Javaco then we can bring her on fulltime. She can support you in FL. I do believe the accotmtant and marketing employees in Ohio should go and our team needs to do this soon. Our auditor (Withum) advised there are accounting control issues in Ohio with the accountant and Judy Vasquez (CEO).
UBS (VP Investments) and UMB Bank Fund managers and analysts have advised that this might be the next Henry Singleton and UBS is on the market makers because they believe we are the best stock going. That said, we need to keep the wholly owned subsidiaries in tact, remove accounting to centralized accounting to Philly and have Ron's team implement controls and eporting/consolidations.
I've merged Paklt with our group to work as one. This has worked out really well. We will be making some changes in Philly with the office staff soon.
Please call me with any questions - you'll be on a conference call Feb 13th with the Board and I. I am hoping 1
Case 8:10-cv-02140-EAK-AEP Document 15-1 Filed 11/23/10 Page 9 of 20
we can add-&- as an acquisition for the 12th of Feb (not listed).
** I am getting married on Feb 14th and will be on a honeymoon from 15-22 so it's good I won‘t be around for a week after we release the following news:
(*) means this is likely to close on Feb 12 (#) means this is REALLY likely close on Feb 12 (‘?) means this might close on Feb 12
All PR's to be released after hours (6 hours apart) over Valentines Day Weekend & Monday, Tues and Wed:
1. (*-> #) Massive fuel blending and distribution site. Has lM+ gallon storage on site with top and bottom loading. Can handle $300M/year in fuel. I just got the go ahead from Ministry of Environment, and TSSA (for fuel tanks), the city caved yesterday and will allow us to operate. In the past this site has done $30M/month. From a retired wealthy shareholder. The deal $150k token -- he likes what 1 am doing.
2. (#) Hired Mike Koblanis VP M&A
3. (#) Appoint Board & Committees for compliance. (4 PR's)
4. (‘?) Purchased a ship in China
5. (?) Announce Captain Mike Moneyhan (shareholder -- captainmike on ihub) is hired as JBI master captain and will sail P20 ship.
6. (?) Announce P20 ship is in China get retrofitted with machines.
7. (#) Islechem announcement (3rd party validation).
8. (#) P20 is running on continuous operation.
9. (#) Heddle Agreement Signed.
10. (#) Al Sousa Agreement signed.
11. (#) Purchase building in Niagara Falls NY for processing. 20 Iroquois, Niagara Falls, NY. $l00k down, $270k loan. is primary P20 site.
12. (#) AGM meeting is set for April 24, 2010 and shareholders can attend and view the processor running.
13. (#) Conference call for February 13, 2010.
14. (#) Hired Scott Kobyrn (VP Systems - Processing) -- Scott designed and built a magnesium processing plant and designed our continuous feeding system. ---------------------------------------
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