In keeping with my work, I have found Jill's name.

She is Adrianne Diane Moore-Rios.

She is 33 years old.

Keep em coming to me guys. I am so glad that some of you are not intimidated by what a few say on this board. BTW, some of those have sent me privately names, and blasted me publicly on the board.

So it only took you three weeks after Luke posted the link to the SEC papers to make this amazing discovery?

We need more guys with these kinds of skills shaking up the industry, man.

I missed the SEC pointer. I just tried to read some of that offering filing. I forgot how painful those are to look at: I'd rather watch an Ed Powers video.

It does answer one question: Jill does have an ownership interest in JKP.

However, I'm not sure I understand the offering. It looks like they're bailing out, not trying to raise money for JKP: almost none of the proceeds go to JKP or benefit JKP in any way. I think it's Run For The Hills on this stock. Maybe all Pink Sheet stuff looks like this.

Finance ain't my game, professionally, but I read these things before investing. Best parallel I can think of would be some of the oil industry companies in Texas that are listed on PinkSheets. Most of them are heavily in debt and basically run as family businesses whose value is in connections rather than tangible assets.

Generally speaking, almost all of the stock JKP has is still owned by their (pre-stock offering) investors. This is a horrible situation because one or two people cashing out will dump the value (provided you can find a buyer, which won't be easy), to say nothing of issues like stock dilution. If you look for a business plan in there, you won't really find one. They plan to do what they've been doing which, as you see, hasn't made very much money even if you discount the staggering debts and one-time expenses they've rung up.

JKP essentially did this stock business for the benefit of people who had already invested in the company, not to get more money. It might be attractive to one or two individuals who might not have invested before but might now, since their financial situation has been fully disclosed. But random people buying JKP stock, no, that's not going to happen.

As for Jill's ownership interest, as you can see she draws executive compensation (note that Bob Friedman has deferred his). At the end of the game I suspect that's all she'll get out of it. It's all most people get out of start-ups.

What is so interesting about a porn girl's real name?

So JKP is goin under. What a fuckin shame. Does this mean that Jenna Haze and all those other contract whores will have to do real porn again?

Actually, they won't go under (barring a lot of unforseen other things) unless Friedman calls in his loans and deferred pay. Since JKP is clearly "his" company and Jill's (at best) a minor partner, I don't see that happening (and he probably has a lot more money he can keep "loaning" JKP to keep them afloat in a cash crunch, or at least until his dessicated Mr. Burns persona marries another JKP contract girl).

But I agree, we should begin a liberation struggle to free Jenna Haze from her torturous girl/girl softcore captivity.

This is interesting, something I didn't notice before:

Quote:

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Employment Agreements

Each of Robert A. Friedland, Adrianne D. Moore and Ronald C. Stone entered into employment agreements with us. The employment agreements have similar terms other than the amount of compensation. Under the employment agreements, we have agreed to pay Ms. Moore and Mr. Friedland each an annual salary of $360,000 and Mr. Stone an annual salary of $240,000, subject to annual increases. The agreements are for five years commencing on September 1, 2003. In the event that we terminate any of these executives for other than good cause, as defined in the agreements, we have to pay the executive’s salary and provide them with benefits for the remainder of the term of the agreement.

---

So they each receive between $1.2 and $1.8 million spread out over five years, guaranteed, for as long as the company is in existence. On the plus side, that's only a fraction of how much debt they already have.

They might tank sooner than I thought. Free Jenna!

That technique - usually involving investing intellectual property with a dummy corporation, and then "licensing" it back to yourself - can be challenged if you're prepared to spend some money (Wollersheim vs. Church of Scientology of California is usually cited. By the way, I'm a lawyer. Bet you're not surprised given my warm and bubbly personality.) But in the case of JKP, I have no idea about any of that.

My curiosity doesn't stretch far enough to bother (especially since Luke will just pinch this anyway, and why should I help him with more content?), but some of those investors have curious backgrounds for investors in a porn company. Google and Lexis, young Luke.

Some of those corporations seem to have no other business except investing in JKP. That'd be a way to conceal ownership, but I don't know how that would fit into a plan to strip assets. The fact that there's less than two dozen total investors and a number of them are either relations or friends of the CEO or have ludicrous corporate names that sound like they were made up in 3 seconds would be another reason to run like hell from this.

The reverse merger was a hell of a lot to go through for nothing (particularly since they seem to have inherited a couple of lawsuits from the previous owners - way to do due dilligence, Bob!) What would be the advantages of it? If you're a company coming off a $9 million debt and your best year seems to have been a profit in the low six figures, it's probably not to attract investment. Beyond that, dunno.

edited.