Gosh, thousands of companies manage to file 10K's that communicate the truth clearly, fulfilling their legal requirements and allowing the market to give them a fair valuation. If JBI is unable to manage to churn out an unambiguous 10K that can't be misinterpreted by the market, then they suffer from some type of corporate brain damage. Of course JBI is able to do this. It's pure rationalization to assign a positive value to JBI being unwilling to file their 10K. Lack of information can be as misleading as an outright lie, creating an unfair playing-field if, for example, their 10K were to report information that would justify a much lower or higher share price than what JBII is currently trading it.