"This was an accounting error that occurred becaus
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So you have to believe that Mr. Bordynuik was so stone-cold stupid that when he traded one million shares trading at $1/share, that he honestly believed those media credits had a true market value of $10M and he was just getting an amazing deal for shareholders. He saw nothing wrong and since Domark booked those at $10M, he must have thought Domark was an angel giving JBI's shareholders $9M for nothing.
Then he vocalized that valuation to investors when asking them for money because he still truly believed. Just how stupid do you believe Mr. Bordynuik is??
And when he admitted in the OSC hearing that he used that media credit valuation to mislead investors, does that mean he was lying to the OSC because he wanted to simplify the process by quickly settling?? Does that make him honest??
I would find it hard to believe Mr. Bordynuik is as stupid, gullible and naive as you imply. Remarkably he benefited by that "accounting error" while shareholders took the loss from his 'mistake'.