On Friday the SEC put a suspension on JAS’s stock and its derivatives b/c they have to get their financial statements in order
The Supreme Court had reversed the decision of the Central Bankruptcy Court by
rejecting the rehabilitation plan and canceling business rehabilitation order
issued by the Central Bankruptcy Court. JAS later disclosed in its Q3/2013 notes
to financial statements that due to the Supreme Court decision, claims of the
company’s creditors were restored to the status prior to the date of
rehabilitation order. However, JAS has not recognized any liabilities resulted
from the Supreme Court decision, viewing that there is insufficient information
to reliably estimate the additional liabilities.
As JAS has not recognized any liabilities, its financial statements were not in
compliance with the generally accepted accounting standards.
In the past few weeks JAS’s board changed a few things in regards to their potential IFF, well basically adjusted every aspect of it, the 1) assets sold to the IFF; 2) the collateral of the IFF and 3) the lease of assets from the fund
Here are the details…
Now JAS STILL has two court cases, the first first court case regarding the TTTBB issues and the second involving the Supreme Court handing down the Bankruptcy Court verdict last year
So, personally, anything that comes out of this out this company’s press release or news that the IFF is imminent is utter BS