Drivel....try to build a molehill into a mountain....there's nothing there....fine....slap on the wrist....move on....happens all the time to companies
How many other restatements are in JBI's future. It's not just by chance that JBI released a new 10KA 4 days after receiving the Wells Notice.
That said:
Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we conducted an evaluation of our disclosure controls and procedures, as such term is defined under Rule 13a-15(e) and Rule 15d-15(e) promulgated under the Securities Exchange Act of 1934, as amended (Exchange Act), as of December 31, 2010. Based on this evaluation, our principal executive officer and principal financial officer have concluded that our disclosure controls and procedures are ineffective to ensure that information required to be disclosed by us in the reports we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the Securities and Exchange Commission’s rules." .... These material weaknesses are a result of a lack of policies and procedures, with the associated internal controls, to appropriately address routine transactions, as well as a lack of a sufficient number of qualified personnel to timely account for such transactions in accordance with U.S. GAAP. Management has identified the following groups of control deficiencies, each of which, in the aggregate, represents a material weakness in the Company’s internal control over financial reporting as of December 31, 2010.
Total equity issuances in 2009 = ZERO other than for acquisitions and PIPES.
We're running out of conspiracy theories, and even the SEC doesn't have any despite 2 years of false complaints. All we have here is a non-cash restatement from 2009?
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