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To: PaperProphet who wrote (22160)4/9/2012 7:05:16 PM
From: scion
of 40352
 
JBII Investor Opines on SEC Suit, Skeptics & Naysayers

Monday, April 9, 2012

All along the road to success at JBII, we face snipers hiding in dangerous vantage points;

Quote:
________________________________________
...and these powerful & deep pocketed parties want to both disempower the company and steal its secrets.

[...]

I mean, we all crave to know the reasons behind the paucity of published info.

We all want to know the deep down, behind the scenes "skinny and lowdown", but now that we have gotten one more victory over insurmountable, well heeled, deep-pocketed, devious, side-issue attacks from hidden entities, it just might dawn on people (IMHO), that all of the tripe we have all endured has been handled effectively by well thought approach from JBII decision-makers.

Somebody (or somebodies) is at the decision making helm at JBII and their approach to dealing with all of this endless tripe is working well IMHO.... and repeatedly, I might add.

At each protective step.... as each landmine gets defused..... I applaud and laud them for the way this thing is being advanced and defended.

So JBII tells the world next to nothing while they huddle to plan to evicerate [sic] the illicit SEC allegations.... and we all endured a long period of angst while their silent preparations to file appropriately at the scheduled hearing dragged on behind the scenes, unelaborated [sic] on.

Now, having defanged the illicit SEC accusations by showing that the right hand at the SEC did not even know that the left hand at the SEC had already approved of the accounting usage of the media credits, JBII immediately takes the next of its well thought out chess moves:
[...]

Imperial Whazoo

investorshub.advfn.com 

jbiglobal.blogspot.ca 

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To: scion who wrote (22176)4/9/2012 7:10:57 PM
From: dreaminbig
of 40352
 
We should start our own blog. "Conspiracy theories and black Russians on the rocks."

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To: zzzogly who wrote (22130)4/9/2012 7:14:14 PM
From: MorningLightMountain
of 40352
 
Well, Well, Well, seems this is not the 1st time that "investor" was taken for a ride up the whazoo!!!

(follow this thread, it might even bring back some fond IHDR memories, PP, and force you to look over at Ihub!!!)

investorshub.advfn.com 

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Imperial Whazoo Wednesday, March 14, 2007 12:16:53 PM
Re:NonePost # of 6640

Well Well Well Well Well..!

I have always felt that our naysayers were not honest. In that I'm not an engineer, (well, I am a software engineer) and in that most folks are not either, I held my peace and endured the incessant bombarding by our resident hateful bashers. I always knew they were excessively hateful and my experience in life has held me in good stead for 51 years now, so I never wavered and never even considered joining in with even the slightest detail our bashers pounded us all with. I just hunkered down and waited for the truth to come out. And I never sold, by the way.

The criticisms basically have all boiled down to two things: A). That the management was dishonest & B). that the laws of physics themselves argued against the EC V being even possible, and as such it was repeatedly asserted that it was a complete fraud.We were, by obvious extrapolation, therefore dupes and fools and rubes. To that conclusion, let me just quote from the letter from Dr. David F. Dyer, PhD, P.E., Professor and Chair of Mechanical Engineering of Auburn University's Samuel Ginn College of Engineering: "the power output potential . . . of the single slice 12 cylinder unit could produce a power output of 11.23 HP or 8.37 kW as shaft power", & also, let me now quote the summarizing statement from the PR released today that puts Dr. Dyer's conclusions into perspective: "This power output is greater than the designed output of 7.5 kW per slice". Folks, it is a simple fact that our resident bashers have been liars and they have now been shown to have had unknown, but nonetheless dishonest, agenda. These folks are liars. They have had some kind of agenda and they have purposely represented themselves to be engineering experts, and have made these representations of engineering prowess repeatedly in order to lend credence to their dishonest negative opinions. Thats been my long held opinion and it finally looks like it was correect all along.

Many months ago I argued (in lenghty posts on this board) the logic of the fact that the EU gave this little company money for political reasons. I argued that even if the product (EC V) was deficient in technicals, the politics of the green movement in Europe plus the power of the momentum created by the award of 40 million to finance this product weighed in favor of this product being a long term success. Now that a respected Auburn University professor has weighed in that the output actually exceeds company design claims, the argument that I made is not only supported, but it is enhanced. On top of this, the licensing that comes with the EU financed support does not exclude Asia and there is substantial real interest from China.

It seems probable that the integrity of the new management will be repeatedly demonstrated in the near future. Also, I expect the results from Auburn to be replicated by an EU-selected European university. Further, it is probably that there will be a major licensing agreement (or two) from other parts of the world, most likely starting in Asia. Finally, the money that is going into the coffers of this little company (the award from the EU) will rejuvinate its fortunes.

I doubt our naysayers will begin telling the truth. Frankly, I could care less. I weathered incessant attacks by bashers who oppressed us all with weighty, high sounding arguments that were crafted carefully to appear to be genuine opinions from qualified engineers. The fact is, they were simply not honest. The EC V does generate the rated power. It does not "violate either the first or second laws of thermodynamics". And it has been deliverd according to contract to Europe. The funds will be made available. Our fortunes are very promising indeed. The EC V is a revolutionary invention and that this little company will fare well because it has invented it and has succeeded in bringing it out. To quote from Dr. Dyer once again: "I found the test results to be realistic. It would be practical and economical to apply the engine in a multitude of areas where adequate head and flow are available in both industrial waste streams and natural gravity flow settings."

Well done, new BOD. Well done new company management. And begone bashers. You are all liars and, regardless of whether we ever know the reasons for your pathalogical hatred, it has now been shown that you folks had an agenda that was not honest all along.

This PR is excellent and very welcome news indeed.

GLTA

Imperial Whazoo.


MorningLightMountain:
You missed the point completely.....it wasn't that a device such as the EC-V "violated the laws of physics" in itself (where was that said???), it was the dishonest way the Co presented it that made it seem this way.....nobody (that I know of) said it would not WORK, just not as efficiently as a turbine, with like just one moving piece, and a few bearings.....and the engineering report PROVED that.....the report they quickly removed form their web-site....

If you want a bold-faced lie, and proof of deception, just look at what they said.....or all their PRs that never came to fruition....seems you cherry pick who your liars are, but, then again, you also seem to be a conspiracy theory nut, so I'm not too surprised:

"""Historically, hydroelectric energy has required large turbine engines powered by massive amounts of water. Even the very smallest turbines require 187 tons of water per minute (6000 cu ft/min or 45,000 gal/min). This huge amount of water rushes past metal blades causing them to turn and produce electricity. This method of generation works well when large amounts of water are available but is impractical and inefficient when water flow is reduced. The concept of turbine-generated electricity has thus been limited to large waterfalls and dams."""

(from the old IHDR web site)

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To: MorningLightMountain who wrote (22178)4/9/2012 8:08:18 PM
From: dreaminbig
of 40352
 
I'm certain whazoo would like to have a road less traveled.

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To: dreaminbig who wrote (22179)4/9/2012 8:15:30 PM
From: scion
of 40352
 
Media Credits Value Properly -- the short version

Rawnoc Wednesday, February 17, 2010 2:35:32 AM
Re: Rawnoc post# 27016 Post # of 176228

Media Credits Value Properly -- the short version

Domark PAID for $10 million worth of advertising.

Domark SOLD $10 million worth of advertising to JBII for $1 million.

JBII can now advertise for what would cost anybody else on the planet $10 million in cash.

JBII has a real asset worth $10 million.

Domark recognized a $9 million loss on their books.

JBII recognized a $9 million gain on their books.

investorshub.advfn.com 

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To: scion who wrote (22180)4/9/2012 8:17:14 PM
From: scion
of 40352
 
The media credits were NOT written downn The media credits retained their full $10 million value.

Rawnoc Wednesday, February 17, 2010 1:16:11 PM
Re: wEaReLeGiOn post# 27177 Post # of 146961

Wrong yet again. The media credits were NOT written downn The media credits retained their full $10 million value.

Know why? Because they were worth $10 million. It's impossible for their value to go down except when used because they are worth identically the same as $10 million worth of cash paid right now today. If I showed up with cash $10 million I can only buy IDENTICALLY THE SAME amount of media time as JBII can with their credits.

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wEaReLeGiOn Wednesday, February 17, 2010 1:39:22 PM
Re: Rawnoc post# 27182 Post # of 146961

Please, how much are the $10MM MCs worth

the day before they expire? How much is an equal amount of cash worth the day before the MCs expire?

This is simple stuff dood :)

Know why? Because they were worth $10 million. It's impossible for their value to go down except when used because they are worth identically the same as $10 million worth of cash paid right now today.

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guzaling Share Wednesday, February 17, 2010 1:42:31 PM
Re: wEaReLeGiOn post# 27189 Post # of 146961

They aren't going to expire...they are going to be spent..DUDE!

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BRIG_88 Share Wednesday, February 17, 2010 1:43:24 PM
Re: wEaReLeGiOn post# 27189 Post # of 146961

Any expiration date is irrelevant as they are being used...doesn't matter

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Rawnoc Wednesday, February 17, 2010 1:44:06 PM
Re: wEaReLeGiOn post# 27189 Post # of 146962

The day before they expire? They are worth zero unless they are all spent on that single day which is certainly possible.

You tell me -- if they expire on superbowl day and I call up the Superbowl people and tell them I want $10 million worth of superbowl commercials, will my $10 million media credit pay for $10 million worth of superbowl commercials?

That's a rhetorical statement. The answer is yes and there's no reason to write down media credits with a full 3 years to use them. You can argue blue in the face that YOU think they should be, but GAAP accounting completely disagrees with you. John himself working side by side with Jesus Christ himself cannot legally write down the media credits based on the current information.

investorshub.advfn.com 

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To: scion who wrote (22181)4/9/2012 8:18:49 PM
From: scion
of 40352
 
The media credits were listed as $10 million on the books of the company they acquired hence they are valued at $10 million on JBII's books. It's called negative goodwill when you acquire an illiquid asset in an acquisition at less than cost.

Rawnoc Tuesday, February 16, 2010 11:41:02 AM
Re: ashkelon post# 26612 Post # of 146973

It's not creative anything. The media credits were listed as $10 million on the books of the company they acquired hence they are valued at $10 million on JBII's books. It's called negative goodwill when you acquire an illiquid asset in an acquisition at less than cost.

That said, eventually that $10 million will have to be recognized and written down as it is "used" up just like any other asset.

investorshub.advfn.com 

Rawnoc Tuesday, November 23, 2010 1:28:26 PM
Re: jjsmith post# 78121 Post # of 146971

Actually the media credits were simply transferred from the books of DOMK where they were indeed listed as $10 million. The number wasn't made up, as you falsely claim. It was treated using reverse merger accounting it appears since the other transactions were also restated that the filings say used reverse merger accounting which would normally be correct with a shell but it was technically not a shell.

"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."

Technicality. Fraud? In your dreams. That would be like claiming Home Depot isn't a customer or that a gift tax is due.

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Rawnoc Sunday, December 19, 2010 3:24:11 PM
Re: CHUNKY44 post# 83635 Post # of 146971

Your statement:

>> The media credits were NEVER worth $10 million, and it is STILL dishonest to claim that they are. <<

They were paid for with $10 million worth of DOMK stock and carried on DOMK books as $10 million.

It wasn't "coming clean" other than the value was IMPAIRED. All sorts of things can, and often are, found impaired and written down even with Dow 30 stocks. Doesn't mean anything sinister is going on.

investorshub.advfn.com 

Rawnoc Monday, February 15, 2010 2:43:41 AM
Re: Rev Kilgore Mullet post# 25937 Post # of 146976

Normal cost accounting rules when in comes to acquistions. $10 mil on target`s books equals $10 mil on acquirer`s books I believe.

Look at it this way -- what if $10 million in cash was acquired for $1 million in stock? I know the example is unlikely, but it`s simple to illustrate my point. Especially in reverse merger types of deals you acquire the assets on the books.

I could be wrong on all this, but I believe the term is "negative goodwill" -- this link should help:

investopedia.com 

Think of it like buying a foreclosure property on the cheap. You get something illiquid that has a high value but no liquid market (or I'm sure the media credits would be cashed out instead of used).

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To: MorningLightMountain who wrote (22178)4/9/2012 8:21:35 PM
From: PaperProphet
of 40352
 
That brings back memories. After that letter from Dr. Dyer apparently validating Internal Hydro's EC V, I called Dr. Dyer to see if he could add any color and he basically told me the same thing--he was only asked to verify that the EC V didn't violate the laws of thermodynamics. Which he did. Going around trying to verify that machines don't violate the laws of thermodynamics seems like wasted effort to me. I'm sure IHDR CEO Mr. Huffman wanted that letter to attach the name of a Ph.D. to his machine in any way possible to try to lend credibility and increase the demand for Internal Hydro shares so he could continue selling against that demand.

Mr. Bordynuik did the same thing with the letter from Islechem. That letter was subjective ("mixed," "multicolored," "diesel-like") and didn't give anything meaningful...but it's a letter from a lab regarding the "fuel" so that garners credibility with inexperienced shareholders.

Again back to Internal Hydro, the report referenced by Dr. Dyer was from LA Engineering and showed there was a lot of friction in the machine and didn't give the output in kW. CEO Mr. Huffman lied about it and said it did reach the claimed level. After he posted the LA Engineering report on his site and I posted on the message board that he was either lying or grossly negligent in reporting something different from fact, it was about an hour later and the report vanished from the web. I still have a copy I saved before he removed it. Mr. Huffman, like Mr. Bordynuik, had his eyes glued to the message boards--he knew the location of the gravy train and it wasn't the EC V.

Did I remember that right about Imperial Whazoo? Wasn't he also in USSE/SSTP or was I thinking back to when he got scammed with Internal Hydro? Too many scams...it's hard to keep them all straight.

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To: scion who wrote (22181)4/9/2012 8:22:44 PM
From: MorningLightMountain
of 40352
 
It's impossible for their value to go down except when used because they are worth identically the same as $10 million worth of cash paid right now today


another JBII miracle, turning $1M into $10M into almost nil......and all while impossible!!!

the ingeniousness boggles the mind.....

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To: scion who wrote (22182)4/9/2012 8:22:47 PM
From: scion
of 40352
 
Rawnoc also found a way to:

1. make the media credits worth $10,000,000,
2. have John personally buying $200,000 worth of JBII shares at a premium to market,
3. have John receiving an Honorary MIT PhD

etc, etc-- so just as well I'll pass on trying to find the super secret accounting entry(ies)

jimmenknee Thursday, March 10, 2011 5:59:12 PM
Re: BRIG_88 post# 95823 Post # of 176231
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