Well put...nobody is saying JBII didn't make any mistakes..they did...they also FIXED the mistakes.....the SEC is probably going to to fine them for it....but this isn't the catastrophe some are trying to make it out to be....
The Company has restated its 2009 consolidated financial statements previously issued on March 31, 2010 for matters related to the following items: (1) the original accounting for the acquisitions of Javaco and Pak-It which was improperly recorded as a reverse merger, whereby pre-acquisition operations of the acquired entities were erroneously reflected in the operations as originally reported; (2) the valuation and subsequent impairment of media credits; (3) the original acquisition of the assets of John Bordynuik, Inc. was improperly accounted for at fair value; and (4) equity issuances. The accompanying financial statements for 2009 have been restated to reflect the corrections. The effect of this restatement to the financial statements is a decrease in total assets of approximately $11,507,000, an increase in net loss of approximately $2,179,000 and a decrease in equity of $11,809,000.
Market Data 
Markets 
AI
