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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's why I wondered what this was all about. Are they positioning themselves such that if they lose the company in one of the lawsuits that they have an employment contract anyway, a sort of golden parachute?

It seems like JKP is about to tank. But, that filing cost a lot of money to prepare. Why spend that money? Who will buy those shares? Why would anyone read this and invest instead of "Run Away! Run Away!"? That filing must have had a use and I have no idea what it was.

Note too that they merged with another company a couple of years ago that apparently had some skeletons in the closet. I'd look at that company and its past - there may be more mischief coming out of that one, especially if some shady characters were involved. Was that ancestor a real company or just a stock fraud?

PS. I only read the first 20 pages or so. Another thing to look for is related-party transactions, especially intellectual-property stuff. That’s a classic way to bleed a corpse and keep some control if you lose the company. For example, does JKP own the copyrights to their videos or are those held by another company? When Popeye’s Chicken declared bankruptcy the creditors found that the rights to the recipes belonged to a company owned by the founder, not to Popeye’s.
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"If they can't picture me with a knife, forcing them to strip in an alley, I don't want any part of it. It's humiliating." - windsock