Jill Kelly Fire Was No Mystery

when i'm not drunk, i'll look more closely at the edgar filings. keep in mind the sorbanes-oxley act was huge(passed 02, went into effect 2003) and makes things tighter. lots tighter-it made it easy for the sec to pursue executives on criminal charges AND requires them to have signed off on basically every statement filed. bob's name is on everything, or should be-if it's submitted he doesn't have the ability to claim ignorance.
let's see,they can't promise it would operate until this june without major outside investment,of 5 milllion

here's who owns what

Name of Beneficial Owner Position Ownership of Class(1)

Robert A. Friedland(2)(3)
Chief Executive Officer, Secretary and Chairman of the Board of Directors 16,594,000 52.5 %
Adrianne D. Moore(2)
President and Vice Chairman of the Board of Directors 5,172,000 20.4 %
Ronald C. Stone(2)
Chief Operating Officer and Chief Financial Officer 1,735,000 6.8 %
Daniel R. Ice(2)(4)
Director 500,000 1.9 %
Phillip D. London(2)(5)
Director 521,000 2 %
Keith Gordon(2)
Vice President 100,000 *
Robert Hollis(6)
Beneficial Owner 2,000,000 7.3 %
Kings Against 3, LLC(7)
Beneficial Owner 2,750,000 9.8 %
Maximum Ventures, Inc.(8)
Beneficial Owner 2,781,180 10.1 %
Jubilee Investment Trust, PLC(9)
Beneficial Owner 4,001,213 15.8 %
All Officers and Directors as a Group (6 persons)
24,622,000 78 %

those aren't dollars, just shares of penny stock, but it shows how the cake be sliced. the other thing i think is odd is how frequently the board loans and repays itself hundreds of thousands of dollars, jill's always paying back 150k and under.

the sec might be interested in their complacency in terms of auditing themselves, which they didn't do twice. however, if it's any kind of money laundering, i asked my mom who's got an mba from the same crimson-colored evil empire as i've got my undergrad. obviously i didn't get too specific about "hey mom, so this porn company father guido sarducci and i are researching, if they were laundering money or owned by the cosa nostra....". it's just not what i need after already playing my prodigal son card to death. anyhow, she offhand thought for a random penny-stock company it'd be all fbi for crime and for laundering it would involve them again but probably noticed first by the comptroller of currency or some other agency.

i'll look shit over and axe more when my brain isn't marinating, the edgar filings are impossible to read numbers on because they fucked the formatting of colums up.

Posted by: smiling arab

Re: Jill Kelly Fire Was No Mystery - It Was A Mess - 02/04/05 08:34 PM

Wow... so much interesting shit at Edgar.

Hey Luke: Here's Keith Gordon's employment contract. They set up a wholly-owned subsidiary called "JKP Bizarre" to distribute his stuff.

Here's Jill's employment contract. Now, if you're an executive, you need to have one, but I think it's funny that JKP's own "PR professional" Scott Hoover persists in misrepresenting this as a "woman-owned company." It's a corporation, and far and away most of the shares are not in her hands. It isn't nice to mis-represent the ownership of a publically-traded corporation, Scott, even if the only place you can sell it is on Pink Sheets.

The Koretskys own Pleasure Productions. In 1999, their partnership with New Frontier Media--another clusterfuck of a porn company going public--was a "perfect fit," according to Koretsky. Within two years, they were suing the holy hell out of each other over, among other things, stock transfers. (Parenthetically, I have to say that I know judges who would throw this complaint in the lawyer's face. I've never seen so many misspellings in one document since I was a clerk typing affadavits from crackheads.)

Posted by: jamesn

Re: Jill Kelly Fire Was No Mystery - It Was A Mess - 02/04/05 08:41 PM

arab, what do you know about the philly firm signing off on everything? i know it's not cravath or anything and have a good sense of the deisel firms out there(chicago's got kirkland's main office,etc.). i didn't read much, but they seemed legit, but most of their headlines were bankruptcies or allegations of doing naughty shit with money.

Posted by: smiling arab

Re: Jill Kelly Fire Was No Mystery - It Was A Mess - 02/04/05 08:47 PM

Armadillo Investments is in some way related to Jubilee. Harry Pearl, who signed the letter in the link you had for Armadillo, is listed in some Jubilee documents. Probably had something to do with the registered stock.

Posted by: jamesn

Re: Jill Kelly Fire Was No Mystery - It Was A Mess - 02/04/05 08:53 PM

yeah, it's always listed jubilee/armadillo but i didn't find an obvious statement. it's also a stupid name for a company in the UK, where 3 people know what an armadillo is from the discovery channel.

this is like dodgy-capitalization christmas, until the italian guys kill us. i can see bob pounding a desk somewhere, telling jenna haze "I don't care what you have to do, I want the arab silenced! what are you waiting for? get to it!"

Posted by: Porn Parasite

Bernstein and Woodward of XXXPornTalk - 02/05/05 11:19 AM

Wow! You two guys are like if Bernstein and Woodward were working for the Journal, assigned to the porn beat.

I'm mesmerized! Luke should be too.

Posted by: smiling arab

Re: Bernstein and Woodward of XXXPornTalk - 02/05/05 04:04 PM

Klehr is a fairly decent, if cheap, law firm. There haven't been any disciplinary proceedings taken against any partners or Barry Siegel, the guy that did JKP's SEC paperwork.

What is/was Bob's connection to the three owners of IDC Technologies? At least there were three of them when they purchased PacificTradingPost. One of the three was implicated and subject to investigation following a raid on a boiler room pumping-and-dumping stocks that they had business with. I haven't been able to find any SEC charges.

And, while we're on the subject, why did Bob issue a $778,414.05 promissory note to himself through a shell corporation? Perhaps he won't be satisfied with still more stock in lieu of cash, like Michael Koretsky got for his $250,000 note. Or this porn producer, James L. Long, who was, after 3 years, paid only $10,000 of $140,000 owed to him, and settled for still more stock.

Now it's starting to make sense. This company was absolutely riddled with debts, but probably not any more. Let them eat stock options! And more stock options! It's an all-girl orgy of stock options! I never get tired of exchanging cash and services for stock options! Damn you promissory note! Psst, hey, buddy, wanna buy a stock option?

Re: Avi Mirman and his Maximum Ventures, Inc's holdings of JKP (later swapped to Jubilee after the mysterious "letter of intent" for a JKP adult cable channel), I was correct. Maximum was advising Bob and JKP and as a result was paid in company stock--so much company stock he was actually part-owner of the company. The merger agreement refers to Maximum having all but veto power over a number of issues in the agreement.

From the JKP-IDC Technologies merger agreement:

Quote:

2.5 MVI Warrants. Pursuant to Section 3 of that certain Amended and Restated Exclusive Advisory Agreement (the "Advisory Agreement") by and between JKP and Maximum Ventures Inc. ("MVI"), MVI will receive warrants for the purchase of 20% of the shares of the Company Common Stock held by the former shareholders of JKP immediately following the Effective Time at an exercise price of $0.001 per share. MVI shall be a third party beneficiary of this Agreement.

From the same document:

Quote:

(m) Absence of Certain Changes and Events

Except as set forth in Schedule 4.2(m) hereto, since the date of the JKP Balance Sheet, JKP has conducted its business only in the Ordinary Course of Business, there has not been any material adverse effect on JKP's business or operations, and there has not been any:

* * * * *

x. increase in salaries or bonuses or retention of any new
consultant, except for MVI or executive; or

* * * * *

(a) Conduct of Business. Prior to and through the Closing Date, each
of the Company and Acquisition shall:

iii. not pay, incur or declare any dividends or distributions
with respect to its shareholders or amend its Certificate of Incorporation or
By-Laws, without the prior written consent of JKP and MVI;

iv. not authorize, issue, sell, purchase or redeem any shares
of its capital stock or any options or other rights to acquire ownerships
interests without the prior written consent of JKP and MVI;

* * * * *

viii. report periodically to JKP and MVI concerning the status of the business and operations of the Company; and

ix. confer with JKP and MVI concerning operational matters of a material nature.

* * * * *

5.4 Publicity. Any public announcement or press release relating to this Agreement or the Contemplated Transactions must be approved by MVI, JKP and the Company in writing before being made or released.

That was on August 8, 2003. On November 6, 2003--three months later--Avi Mirman issued this press release on a "letter of intent" signed by JKP to own their own adult cable channel, a subject which has never been heard about from any JKP corporate officer again. Less than two weeks later, Mirman swapped his JKP shares with Jubilee. Quite a deal, isn't it?

That "letter-of-intent" press release had an extensive quotation from Bob. Kind of serious, that, if it turns out this "letter of intent" was intended solely to overstate the company's future earnings potential. It's a different world when you're under Sarbanes-Oxley jurisdiction, compared to being a horny old man that likes to fondle twenty year old girls in your sole proprietorship.

Posted by: jamesn

Re: Bernstein and Woodward of XXXPornTalk - 02/05/05 05:52 PM

you've checked out the sarbanes-oxley? what i can't figure out is how a guy who was a managing director for SSB and morgan would sign something related to JKP at all. you figure there are a fewe hundred people in the world at this dude's level in corporate finance and banking. There's no question he knew exactly what he was doing when he started investing in a porn company that's losing millions while risking his good name and maybe jailtime in the worst-case. i'm still looking for something that's solid evidence of it, but given a decade at those two jobs he should have the kind of scratch nobody else in the picture has. how did bob have this startup money and it's been a looooong time for a single-digit millionaire to lose money every year. maybe someone's going to buy him out and infuse cash. maybe they already did a while ago. it'd certainly explain some of why the company is being used as a petty-cash drawer by it's board.

Posted by: PornBanker

Re: Bernstein and Woodward of XXXPornTalk - 02/06/05 07:03 PM

Hello Ladies and Gents,

This is Avi Mirman at Maximum Ventures in New York. Excellent thread. Thought I would join the mix and get involved in some good gossip. Every once in a while I surf the porn gossip channels and today to my tremendous satisfaction, my name and company appear front and center.

Mr. Arab - lots of painstaking research on your part I see, albeit factually incorrect in many instances. Some are right; most are wrong. I don't blame you one bit - perhaps JKP deserves your commentary through biased perspectives. Maybe not - who knows.

First lesson in reporting the facts straight: I did not sell 77% of Maximum Ventures for $450,000. If I were to sell that stake in my company, you would have to add another 2 zeroes, and then multiply by 4. From the press release concerning VBYR:

"VerticalBuyer, Inc. (OTC Bulletin Board: VBYR - News; the "Company") today announced that Computer Software Innovations, Inc., a South Carolina corporation ("CSI") has purchased a controlling stake in the Company from Maximum Ventures, Inc., a New York corporation ("Maximum"). CSI purchased from Maximum 13,950,000 shares representing approximately 77% of the Company's outstanding common stock. The purchase price for the shares was $450,000."

Here's the link: http://biz.yahoo.com/prnews/050131/nym220_1.html

In other words, I had an ownership interest of stock in a company called Vertical Buyer (13,950,000 shares) for which I received $450,000 in a sale; not that of my own company's (MVI). Since I was Chairman and CEO of VBYR, I could understand how perhaps you mixed things up.

Second lesson: I did not and do not issue press releases, ever. This, of course, nullifies your subsequent theory. Here is the link, once again for your convenience:

http://www.prweb.com/releases/2003/11/prweb88357.htm

Notice the part on the bottom that says the SOURCE is Jill Kelly Productions. Yes, it lists me as a contact person. The company felt I would be better suited to field questions from the investing public. FYI - I received no inquiries.

There are multiple more errors in your analysis. I do admire your tenacity, though, in trying to conduct some investigative research. Stick to investigating porn, kid. In the event you want to pursue this and ask questions, feel free to ask. I will answer. Since I do not have the time to check this thread on a regular basis, all I ask is that you email me direct. That goes for anyone. Once I respond, you have total permission to reprint onto this website or others. You may be surprised at my responses.

Best regards,

avi@maximumventures.com

Posted by: Kami Andrews

Re: Bernstein and Woodward of XXXPornTalk - 02/06/05 07:25 PM

the plot thickins

Posted by: jamesn

Re: Bernstein and Woodward of XXXPornTalk - 02/06/05 09:15 PM

thanks for checking in-we're mostly thinking out loud at this point. if you wouldn't mind just a short summary of your financial involvement with and perhaps even why you invested in JKP it would go a great length in terms of satisfying our curiousity. we're not ernst and young and the nature of what is being discussed is exploratory at this time and perhaps you feel there are errors that need to be corrected-i think you'll be quickly accomodated. however, sifting through rapidly-written postings for any minutiae of innaccuracy, pointing them out and asking all further discussion to be conducted privately might not be the best way to satisfy everyone. it is public information, i'll gladly correct anything you object to after verifying it and keep away from anything more than conjecture but i think this is an appropriate place for discussing the topic, which certainly has raised eyebrows in the past.

btw-i don't know if i'm qualified to "stick to porn", all i've got on my resume is some lousy diploma from the university in my city under "location". i can't even locate mongolia on a map, let alone find precious metals there.

Posted by: Porn Parasite

Re: Bernstein and Woodward of XXXPornTalk - 02/07/05 06:47 AM

hmmm.... a variation on the good cop/bad cop approach. first, scott hoover bellows, rants, and castigates. now, this avi floats in on a raft made of olive branches, all polite and (seemingly) well-intended: He simply wants to correct some misstated facts and offer a friendly, smiling advisement to "stick to porn."

the plot thickens indeed.

Posted by: smiling arab

Re: Bernstein and Woodward of XXXPornTalk - 02/07/05 08:40 AM

First, I did misinterpret the press release for the (non-) sale of Maximum: it was transferring the stock of a third company. I apologize.

I will mail this to you as well, but what we're doing here is simply (as I stated at the start of my post) posting notes, no more and no less, posting information as we find it and figuring out just how badly the company's PR falters before reality.

There are a number of unanswered questions about JKP's decision to go public, the transfer of dept into stock options, etc. But most of these are paled by the question of why you, Avi, sold out of your holdings in JKP just three months after they went public. I presume your advisory agreement had something to do with the reverse merger, is that correct? If so, why cut loose before they even really got underway?

Posted by: smiling arab

Re: Bernstein and Woodward of XXXPornTalk - 02/07/05 12:03 PM

Ah, you can hear he flurry of activity in the background. All will be revealed shortly. In the meantime, let's go back to how JKP was run before it's IPO.

Bob Friedland runs a shell corporation called Matzuda. When he was still dating employees he had 50 years on, Matzuda was essentially acting as the liquid cash for financing JKP's operations, incurring considerable debt. Many of those debts were later converted into stock options held not by Matzuda but a trust fund in Bob's name.

What sort of operating expenses did JKP incur for Matzuda? That's buried in the prospectus:

Quote:

From JanuaryÂ 1, 2001 to AprilÂ 30, 2003, we paid Matzuda Corporation $5,000 a month as rental payments on the office space that we rented for our operations.

JKP was later paying less than this--approximately $4,000 and change--for an entire floor of a building they were renting. It doesn't end there, though. Bob was also paying his company--he was CEO, remember--a "consulting fee":

Quote:

From JanuaryÂ 1, 2001 to JulyÂ 31, 2003, we paid Matzuda Corporation consulting fees in the amount of $37,500Â per month in connection with film production consulting services it provided to us.

I'm curious what "film production consulting services" Bob provided to Bob. Did Bob say "Hey, Bob, how about more blondes in JKP videos?" Or did he say, "Hmm, Shyla... that's a girl you should hire, marry, and then annul." Whatever advice was given by Bob to Bob, it was certainly well rewarded.

Posted by: jamesn

Re: Bernstein and Woodward of XXXPornTalk - 02/07/05 01:24 PM

I'm still digging as deeply as someone who should stick to porn is capable of, given my obviously oppressive limitations.
A quick question, since it is frequently-mentioned by JKP as a selling-point---roughly how much are you guys paying out in residuals to your performers? It wasn't clear on any document I could find.

Posted by: PornBanker

Re: Bernstein and Woodward of XXXPornTalk - 02/07/05 03:10 PM

I believe I answered your questions in a reply email. For the benefit of others:

> Dear Avi,
>
> I did misinterpret the press release for the (non-)
> sale of Maximum: it was transferring the stock of a
> third company. I apologize.

- Not a problem. Happens to everyone.

>
> What we're doing here is simply (as I stated at the
> start of my post) posting notes, no more and no less,
> posting information as we find it and figuring out
> just how badly the company's PR falters before
> reality.
>
> There are a number of unanswered questions about JKP's
> decision to go public, the transfer of dept into stock
> options, etc. But most of these are paled by the
> question of why you sold your holdings in JKP just
> three months after they went public. I presume your
> advisory agreement had something to do with the
> reverse merger, is that correct? If so, why cut loose
> before they even really got underway?

1. We didn't "sell" our holdings. We exchanged a relatively small portion of our shares with a UK-based exchange fund that lists it shares on the London Exchange for trading. At the time of the transaction, 1,066,666 shares represented less than 20% of our stake. This exchange, by the way, paved the road for an exchange between the same family of funds and Jill Kelly Productions directly. JKP subsequently sold that stake for $3 million gross dollars to a third party - something I imagine any company in the adult space would love. All in, $6.25 million gross into JKP.

2. As a symbol of our belief in the co moving forward, we further invested $600,000 hard dollars into a private placement that is reflected in the SB-2 registration statement. Next to the London-based fund, we are the largest investor in Jill Kelly Productions. This is a far cry from "cutting loose".

3. Our advisory agreement called on many duties, one of which was to complete a reverse acquisition of Jill Kelly Productions.

I can tell you in hindsight that we have been approached by all forms of adult companies for the same service (capital and listing) ever since the completion of the JKP transaction. As much as people like to bash JKP for all kinds of reasons, both before and after the transaction (and believe me, I have no allegiance to anything or anyone but that of mine and investors' capital chances for success), the bottom line is that they did what no other company has been able to achieve. They convinced Wall Street to break the stigma associated with porn and to participate. I would urge all in the adult business to put the gossip aside, and welcome these types of transactions because if people like me feel comfortable, the funding will continue in the direction of other companies in the space. This will only help the adult business grow. This will only help the adult category emerge from the black clouds it currently suffers from as it relates to the Wall Street world.

Perhaps you can name another 2 year old adult company that can brag of raising millions from Wall Street bankers.

You have my name. What's yours?

Posted by: PornBanker

Re: Bernstein and Woodward of XXXPornTalk - 02/07/05 03:13 PM

James - never got involved in the operations.

Posted by: PornBanker

Re: Bernstein and Woodward of XXXPornTalk - 02/07/05 03:16 PM

Arab,

Perhaps you write an email to JKP/Friedland and ask him his thoughts on this particular post?

Posted by: PornBanker

Re: Bernstein and Woodward of XXXPornTalk - 02/07/05 03:20 PM

More of our emails (this is fair for the sake of full disclosure):

> Thank you for your detailed reply.
>
> My name is *********, I'm an attorney in Chicago.
>
> Comments below.
>
> > At the time of
> > the transaction, 1,066,666
> > shares represented less than 20% of our stake.
> > This exchange, by the way,
> > paved the road for an exchange between the same
> > family of funds and Jill
> > Kelly Productions directly. JKP subsequently sold
> > that stake for $3 million
> > gross dollars to a third party - something I imagine
> > any company in the
> > adult space would love. All in, $6.25 million gross
> > into JKP.
>
>
> Sure, I saw the portion about the trade of stocks and
> the subsequent selling to infuse cash. But what does
> this mean when a company loses $9 million in one year?

- I believe you should look deeper into the financials of the filings for
the answer. Since you are an attorney this should be simple for you. I
haven't looked lately but I believe most are attributable to "non-cash"
items, such as the preferred stock and warrant issuances at below market.
The vast majority of those losses are not related to cash flow loss, which
is where I think you are heading with this. Surely, you know the
difference.

>
> I'm told that you're the person to speak to about the
> ill-fated "JKP nightclub." You had a role in that, I
> presume?

Who told you that?

We introduced the management team of the club to JKP. JKP entered into a
Letter of Intent to acquire the club. For putting the deal together and
for supervising management here in NY, we were getting a small piece of the
deal. JKP later decided to walk away before final execution, so instead we
(meaning Maximum) decided to assume responsibility for whatever monies where
forwarded (minimal - about $108,000) and took possession ourselves. If
you want to know why JKP walked, ask the company themselves for the answer.
It would not be fair for me to represent them in this regard.

>
>
> > 2. As a symbol of our belief in the co moving
> > forward, we further invested
> > $600,000 hard dollars into a private placement that
> > is reflected in the SB-2
> > registration statement. Next to the London-based
> > fund, we are the largest
> > investor in Jill Kelly Productions. This is a far
> > cry from "cutting loose".
>
>
> Thank you for clarifying. I wasn't aware that you
> still had an ownership stake in the company.
>

Again, and I am surprised that you could not derive this from your own
postings since you are an attorney, it is black and white in the SB-2.
Your own posting:

Robert A. Friedland(2)(3)
Chief Executive Officer, Secretary and Chairman of the Board of Directors
16,594,000 52.5 %
Adrianne D. Moore(2)
President and Vice Chairman of the Board of Directors 5,172,000 20.4 %
Ronald C. Stone(2)
Chief Operating Officer and Chief Financial Officer 1,735,000 6.8 %
Daniel R. Ice(2)(4)
Director 500,000 1.9 %
Phillip D. London(2)(5)
Director 521,000 2 %
Keith Gordon(2)
Vice President 100,000 *
Robert Hollis(6)
Beneficial Owner 2,000,000 7.3 %
Kings Against 3, LLC(7)
Beneficial Owner 2,750,000 9.8 %
Maximum Ventures, Inc.(8)
Beneficial Owner 2,781,180 10.1 %
Jubilee Investment Trust, PLC(9)
Beneficial Owner 4,001,213 15.8 %
All Officers and Directors as a Group (6 persons)
24,622,000 78 %

Posted by: jamesn

Re: Bernstein and Woodward of XXXPornTalk - 02/07/05 03:31 PM

respectfully, wouldn't that have been mentioned to you or something someone such as yourself working in the nyc financial world would have noticed just looking at the numbers available to you? it's not your responsibility to budget or distribute them obviously, but someone with your job would seem to know something like money you took in going back out or at least be able to recognize it immediately.

Posted by: PornBanker

Re: Bernstein and Woodward of XXXPornTalk - 02/07/05 03:37 PM

Fair enough question. Understand that you are asking me a question on operations, of which I am not a part. It was my understanding that residuals (profit-sharing) were supposed to be paid. I have not seen any such payments in the filings. Do not take this as gospel - I could be wrong.

Posted by: scottjkp

Re: Jill Kelly Fire Was No Mystery - It Was A Mess - 02/07/05 03:58 PM

I wrote a letter to Luke Ford explaining that the split with Bizarre was very difficult for all the employees here at JKP. What went on behind the scenes- none of us really know. There were all kinds of crazy things going on and rumours floating and we had no idea what was the real story. We were friend here- the employees- so it was like we had just gained a new family, then BOOM- a divorce just when you were getting to know each other.
My one and only concern was people saying that Keith or Bizarre was out to get us and fuck us over, etc. I was not defending or propping up anyone- just the fact of the matter was nobody from Bizarre set Jill's house on fire and was 'sending a message." All that did was start more gossip... that is not what we needed to hear. I know everyone loves dirt- I love it just as much as the next guy...but we are just trying to get back to business. Thanks.

Posted by: PornBanker

Re: Bernstein and Woodward of XXXPornTalk - 02/07/05 04:02 PM

Frankly, I couldn't care less about correcting misstated facts. There are some people in life who get bugs up their asses and there's nothing that can be said to them to change their perceptions or opinions, which is cool by me. Besides, fact is always more boring than fiction to certain types of "story-chasers". I would imagine that is especially true in the porn world. This board is entertaining to me and that's why I am on it. I like the discussions and debate. Being that two pricipals of the thread are a Chicago lawyer and Harvard boy, I suspect this could get interesting.

Easiest thing I can do is stop, and the plot will "thin."

I have not communicated with Hoover in any way, by the way.

Posted by: jamesn

Re: Bernstein and Woodward of XXXPornTalk - 02/07/05 04:52 PM

I'm not sure my imagination stretches as far as Luke's and burning down the house of a woman who doesn't own the company or make decisions seemed a little fantastical as much as i love putting on ollie stone-airs. i don't think that was ever assumed to be true or likely--the sopranos left me sick of hyperviolent italians anyhow.

reality's just as interesting sometimes.....maybe the thinning plot responds to rogaine.

but first, while i've got a real-live jkp guy here-what's the story on residuals? i'm not going to lose sleep about missed checks for first-anals 20 years later, but i've seen older references to it in a "girl-owned, girl power" vain but it didn't leap out at me as a signifigant part of your filings.

Posted by: smiling arab

Re: Bernstein and Woodward of XXXPornTalk - 02/07/05 07:21 PM

Thanks for coming back, Avi. So long as you're here there's not much point to copying everything over to email.

Quote:

We introduced the management team of the club to JKP. JKP entered into a Letter of Intent to acquire the club.

Let me stop you for a second here. JKP seems to be very unfortunate in their business dealings, particularly when it comes to letters of intent (which are then trumpeted to the Adult industry and PRNewswire and then never heard about again). Correct me if I'm wrong, but the first appearance of this deus ex machina was in regard to the all-JKP cable channel. I'm told that this is no longer more than an idea, and a fairly vague one. Next, we have another letter of intent, this one for the nightclub--also trumpeted far and wide--which also turns out to be vapor, and it turns out it was JKP itself which pulled out of the deal for unknown reasons (Scott...?)

I believe the "clothing deal" (I presume you know what I'm talking about) was also based around a letter of intent. Now, I'm just a solicitor--Chicago firm, yes, University of Chicago School of Law, yes, but certainly not a friend of D'Amato's--but do so many deals so frequently turn out so dismal in the penny stock world? It seems that the only JKP announcement of business expansion which didn't bust, now that Keith Gordon has taken his toys and gone home and left that lonesome warehouse half-empty, is the deal to license content to a television station in Romania. I'll let that speak for itself.

Quote:

For putting the deal together and for supervising management here in NY, we were getting a small piece of the deal. JKP later decided to walk away before final execution, so instead we (meaning Maximum) decided to assume responsibility for whatever monies where forwarded (minimal - about $108,000) and took possession ourselves. If you want to know why JKP walked, ask the company themselves for the answer. It would not be fair for me to represent them in this regard.

That's completely understandable. However, I thought there was a bit more to this deal than that. From what I understand, you were to be loaned $500,000 for the JKP nightclub deal (though as this happened around the time JKP went public, I would expect that loan was to some degree on paper and no actual cash changed hands). When the deal went south, you entered some sort of closing agreement which tied up some loose ends, including Maximum's liability (I presume from your consulting contract) for the lawsuit filed against IDC Technologies, which JKP inherited. Is this an accurate narrative?

Quote:

I believe you should look deeper into the financials of the filings for the answer. Since you are an attorney this should be simple for you. I haven't looked lately but I believe most are attributable to "non-cash" items, such as the preferred stock and warrant issuances at below market. The vast majority of those losses are not related to cash flow loss, which is where I think you are heading with this. Surely, you know the difference.

That makes up a fair portion, but not even close to all the personal debt hurled into the black hole of JKP (pre-public incarnation) has been exchanged for stock. Bob made sure of that.

My question is, where is this capital intended to go except to pay back those who won't settle for stock options? According to the prospectus, JKP is still operating at a loss, has a shooting schedule almost precisely the same as the pre-public incarnation of JKP, and every other deal has fallen to pieces. Add that with three executives who together claim in excess of $1 million annually by themselves and zero noticable expansion for this orgy of swapping and selling and funding which you say took place. You certainly didn't invest in a company which was losing money to see it remain stationary.

Posted by: smiling arab

Re: Bernstein and Woodward of XXXPornTalk - 02/07/05 07:31 PM

Quote:

From JanuaryÂ 1, 2001 to AprilÂ 30, 2003, we paid Matzuda Corporation $5,000 a month as rental payments on the office space that we rented for our operations.

From JanuaryÂ 1, 2001 to JulyÂ 31, 2003, we paid Matzuda Corporation consulting fees in the amount of $37,500Â per month in connection with film production consulting services it provided to us.

Interesting post on Luke's site about this:

Quote:

Smiling Arab, from the period of 1-1-01 to 4-30-03, JKP operated out of Friedland's house, so he was the beneficiary of the "rent".

As for the $37,500 per month for "film production consulting services", that's not bad for a man who has no prior experience with film (mainstream or adult) production! His only experience was with hiring porn-star escorts. Man, I'd love a job that pays me $450,000 per year for something I know nothing about!

If these two are not examples of why we in the industry refer to JKP as a fraud (if not legal fraud, then certainly it is ethical fraud), then I don't know what is. A warning to anyone owed money by JKP: do not, and I repeat DO NOT accept their worthless stock in lieu of monies owed. Insist they pay you back in US currency.

Look at Korestsky/Pleasure: how many years do you think it will take Class A JKP stock to be valued at 10.00 per share (the amount need to for Koretsky to cash out)? I am willing to bet it never happens.

If Insider is reading, thanks for your posts. Think about signing up here. Nobody but the Monkey can do anything to posts here in the Monkey Cage, and I've got pictures of him with Gen Padova, so we're cool.

Posted by: Porn Parasite

Re: Bernstein and Woodward of XXXPornTalk - 02/08/05 04:39 AM

you guys are way over my head with all of this, altho i find if quite interesting. i was wondering, if JKP factors their receivables--which i understand they do--does it have any relevance? i don't, btw, know who the factor is.

Posted by: PornBanker

Re: Bernstein and Woodward of XXXPornTalk - 02/08/05 08:17 AM

My pleasure, counselor. Respectfully, I am shocked that an attorney so callously overlooks or misrepresents fact for the benefit of a skewed analysis. You have apologized once for your misstatements/misrepresentations already. Be a man, and apologize yet once more for your misrepresentation about a press release that you think I issued. If in fact it is your intention to state your case in this forum, based on fact only, I invite you to call PR Newswire and ask for the source of the PR and to report your findings here, which is only fair (that is if the word "SOURCE: JKP" on the release itself isn't good enough for you). Go ahead - I will accept your apology in advance. I have a feeling that you will be apologizing many more times for callous interpretations in the near future. By the way, I am sure that U. Chicago taught you the defense for slander/defamation, right? Truth is not defamatory. That is something you have already admitted on your own, in this very forum, that you are incapable of delivering. Feel free to slam JKP all you want. Unlike JKP, Maximum Ventures will not be the subject of your baseless rants without recourse. If you want to do a search on litigations of which I have been involved, you will clearly understand that I don't make threats. I just do.

As far as JKP is concerned, because your narrative is inaccurate (go ahead and apologize again):

1. I refer you to a settlement agreement signed in 6/04 that is attached as an exhibit to amended SB-2/A filing with the Securities and Exchange Commission. That settlement TERMINATED relations between Maximum Ventures and Jill Kelly Productions. If I was indeed a "champion of Jill Kelly Productions at the time" do you think these mutual terminations would have taken place?

2. Prior to that settlement agreement, I like you, questioned the integrity of JKP as to their follow up of public releases. In fact, I fucking exploded which is what ultimately led to pt. 3 below. Again, I can't go into the reasons as to why they walked away from both the cable channel and the club deal, but I was forced to make a decision: let Jill Kelly walk away from the money they expended on both LOIs and take a ridiculous and unnecessary loss, or assume the liabilities myself. That is what I did. Again, if you want to play investigator I suggest you call JKP yourself for their position, and CAREFULLY examine SEC filings, instead of drawing conclusions based on your own biases.

3. A new company was formed for possession of the above properties. Jill Kelly was to provide a 2-year loan for $1 mil to this co, $600K of which was delivered out of the $3 million financing I referenced in a prior post, $150K of which held back for redemption of the aforementioned LOI expenditures. At least, JKP could still sell product through those channels (that was the intent) and have an ownership interest in that entity moving forward. This was all part of a Master Agreement dated 3/04, approx 7 months after the reverse merger. You of course would think this took place at the time of the merger, because again, you draw conclusions based on your own concoctions, without verification of dox filed with the SEC.

Incidentally, as part of the global settlement I offered to secure the note from JKP to newco with a position of about 3,000,000 shares of my personal stock. At my option, I could pay the note and redeem the shares or I could purposely default, assume an asset from newco (the note) and relinquish the shares. I"m sure you think you're a bright boy - which one do you think I opted for, and why?

4. As far liability inherited: I paid every last cent in defending a lawsuit filed by a convicted securities felon against IDCE for a loan he made years prior (much less a loan to a company for which his conviction was based!), that is until my settlement agreement. As part of the settlement agreement, I was released from any further indemnification. JKP decided to settle this for an amount that made my head spin, but post-settlement that was none of my business as it related to that lawsuit. AGAIN, all this is clear in the filings.

5. I know nothing of clothing lines or other deals or residuals or who is fucking who, since I have had no communication with the company since June, 2004. This is changing as we speak.

6. As far as the financials are concerned, I respectfully request that you make your apology for yet another admitted misrepresentation. Go ahead and repeat after me: "I, ___ ______, lied again and made a mistake about the $9 million "loss". I am sorry for another misrepresentation." Have some honor, and be a man.

As far as exchanges of debt for stock, a conversion of debt to equity takes debt OFF the books. Or did they not teach that to you in Accounting 101? No one forces conversions on those who choose not to do so. While some people did convert debt to equity, many did not. To paint a picture of armageddon because certain people wanted to take risk on potential upside is not only irresponsible, but unfair. People and companies across broad spectrums convert certain financial instruments into others on a regular basis, in the course of regular business. In the event debt is converted to equity at below market, the difference is calculated as a loss to P&L (non-cash item) which does not affect cash flow. Believe me when I tell you that I have no allegiance to JKP whatsoever at this point and have no reason whatsoever to defend them, but to sit there and say "Bob made sure of that" is a conclusion you have no basis for drawing.

As to your question of where is all the capital intended on going? Look at the SB-2, which has as an addendum the Private Placement Memorandum. It's Use of Proceeds is in it. Compare that to subsequent addendums to the filing and draw your conclusions. I'm eager to see what you come up with.

Let me bottom line it all for you Smiling Arab: if I had to do it all over again, I wouldn't - I would choose someone else. I will leave it that. I am looking for more opportunities in the space. If you have ideas, I am all ears.

Posted by: PornBanker

Re: Bernstein and Woodward of XXXPornTalk - 02/08/05 08:18 AM

Yes.

Posted by: smiling arab

Re: Bernstein and Woodward of XXXPornTalk - 02/08/05 11:15 AM

Quote:

Be a man, and apologize yet once more for your misrepresentation about a press release that you think I issued.

If I'm wrong about something, I'm wrong, and I'll put my balls on the anvil and take it.

But in this case, I'm not sure how you got the impression that I still think you're behind the press release, Avi. I apologized for stating such before. When I saw your name on that one (and only that one), I jumped to the conclusion which turned out to be wrong. In this post, I merely stated that there were two letters of intent which didn't amount to anything. I didn't impute fraud, nor did I say that you had anything to do with either letter of intent, except to the extent that you were involved in the nightclub. And to the last, I specifically noted your contention that it was JKP that pulled out, not you.

I have no reason to believe Maximum is anything but an operation on the up-and-up. Finito.

Quote:

Let me bottom line it all for you Smiling Arab: if I had to do it all over again, I wouldn't - I would choose someone else. I will leave it that. I am looking for more opportunities in the space. If you have ideas, I am all ears.

Frankly, the only way I see to acquire companies in the business and make it work is to do what Flynt has done. He has his own team with a proven track record, and for the most part purchases the companies for their libraries. He has people who can sell who now have more product to sell. The adult video business orbits entirely around the issue of sales, and to the best of my knowledge, none of JKP's executive apart from the departed Keith Gordon had very much experience at all in that in this industry.

Edit - double post - sorry.

Posted by: PornBanker

Re: Bernstein and Woodward of XXXPornTalk - 02/08/05 11:34 AM

You apologized for the misinterpretation re my sale of a third company's stock; not the press release. Now that you apologized for this second misrepresentation and a "jump to conclusions", consider it accepted. I ask that you don't jump to any more conclusions as it concerns me. We're straight.

I'm not sure I agree with your analysis of "content collecting". I have heard this before, but none of it is proven, at least not to me. I have no doubt Flynt is doing well with his global strategy, but none of this is verifiable since his company is not transparent. Isn't it true that RCA employees have vanished and is done? Even so, this would not be a basis for any conclusions.

I appreciate your retractions/apologies.

Let's continue the dialogue.

Posted by: smiling arab

Re: Bernstein and Woodward of XXXPornTalk - 02/08/05 12:13 PM

When we settle arguments around here, we usually slice our wrists open and drink blood to seal it. What's a minor case of hepatitis C between friends?

The problem with the "Flynt model" is that no one else but Larry Flynt is in a position to execute it. Flynt is already involved in distribution and wholesaling; the relationships VCA had with GVA and other distributors were probably hindering the new ownership more than helping. As for the walk-out by staff, it did happen but I'm not sure who they were and what they did, or if they weren't all going to be replaced by more LFP loyalists down the line anyway (people rarely give up security for principles, in my experience, so the lack of security would make that much much easier).

VCA's product lines are certainly nothing that can't be copied in an industry that loves driving a good concept into the ground. All I can figure out is that the real value was in the catalog, in which case VCA functioning as an active movie studio (with the staff included) is sort of irrelevant.

But again, since he already owns the distribution channels, it was unprecedented. Unless someone can get their hand in the pockets of retailers, I don't see another LFP strategy coming down the pipe. (Sin City owns or has a piece of GVA, don't they?)

For years everyone's been talking about VOD, but do any of the "old guard" make serious money on it? A number of niche websites have moved into selling their product on DVD, I'm curious how it's worked the other way around. If it functions as just another website plug-in to license to operators, it seems like it'd be a very small piece of the $30 sign-up.

Posted by: smiling arab

Re: Bernstein and Woodward of XXXPornTalk - 02/08/05 12:21 PM

Dammit, is there something wrong with the forum software? I keep getting MySQL errors.

Posted by: Porn Parasite

Re: Bernstein and Woodward of XXXPornTalk - 02/08/05 03:44 PM

Quote:

(Sin City owns or has a piece of GVA, don't they?)

the other way around. and there's no single GVA. used to be, but not for years. the owner of GVAwest owns Sin City.

Posted by: jamesn

Re: Bernstein and Woodward of XXXPornTalk - 05/16/05 10:10 PM

an obligatory the end is near bump for dis one.

this place is so smart yet so stupid, how long till JKP folds up the tents and skips town before sunrise?

Posted by: Monstar

Re: Bernstein and Woodward of XXXPornTalk - 06/21/05 05:44 PM

done and done...and i mean done.

I see Bob is out. JIll split, ....i think Tyra is in charge there now by default

(Nikki Benz is in canada on vacation & I don't think jenna haze is there anymore...)

Posted by: smiling arab

Re: Bernstein and Woodward of XXXPornTalk - 06/23/05 05:53 PM

Well, that was fast.

Nice quote by Scott Hoover. Just up and left, eh Scott? Didn't it seem strange to you that each of the corporate officers--the CFO Ron Stone, the President Adrianne Moore and the CEO Mr. Burns--all left, one by one, a few weeks apart? Seriously, who the fuck is this monkey, and how has someone so incredibly naive wound up in the most degenerate business this side of live organ donation?

So how much do you think the assets are worth? Probably not 20% of the valuation of the shares they've issued is my guess.

Posted by: JRV

Re: Bernstein and Woodward of XXXPornTalk - 06/23/05 06:06 PM

Quote:

So how much do you think the assets are worth? Probably not 20% of the valuation of the shares they've issued is my guess.

How much money did Bob leave in the bank account? Enough for this week's payroll? I'm guessing not - anyone still at JKP ought to run, not walk, to try to cash their paycheck at JKP's bank.

And where is he anyway? Having a nice long chat with Hoffa maybe?

Posted by: smiling arab

Re: Bernstein and Woodward of XXXPornTalk - 06/23/05 06:12 PM

From the SB/2, they kept about 30k in cash on hand to meet operating expenses. I suspect that's enough to meet one week's payroll if it wasn't depleted already.

Who's signing the checks? Usually it's the CFO, then the treasurer on the board. Bob probably could, but he and Jill and the CFO are gone. Daniel Ice, I'd guess.

What the hell are these people doing there? I don't get it. In the last month, every single corporate officer (and leading shareholder, natch) has left. I'd be walking out with a photocopier stuffed in my briefcase.

Posted by: JRV

Re: Bernstein and Woodward of XXXPornTalk - 06/23/05 06:44 PM

Moreover, who can sell assets? They've made quite a few videos in the last few years, and the catalog must be worth something, maybe enough to make the last payroll. But with the ringleaders gone is there anyone left who can legally sign papers to let Pleasure buy the catalog?

As for those sticking around: many years ago a friend of mine was one those who stuck around too long. One day several men in suits walked in, but instead of being investors who might make his paycheck they said "We're from the IRS and we'd like to talk to you..."

Posted by: Kami Andrews

Re: Bernstein and Woodward of XXXPornTalk - 06/23/05 07:25 PM

I dont know but at this point its probably not worth more than a buck 75 a unit.

Posted by: Jeff Steward

Re: Bernstein and Woodward of XXXPornTalk - 06/24/05 09:08 AM

Quote:

I dont know but at this point its probably not worth more than a buck 75 a unit.

Or less.

Posted by: Kami Andrews

Re: Bernstein and Woodward of XXXPornTalk - 06/24/05 09:27 AM

enlighten me

Posted by: smiling arab

Re: Bernstein and Woodward of XXXPornTalk - 06/24/05 12:15 PM

Yeah, Jeff, you're about the only one that has hard info on what their catalog would be worth. From the SB/2, they claim to have about 200, probably 250 videos by now. Considering they weren't best-sellers when they were new, how much would that be worth?

You ought to buy it just to put Mrs. Wankus on the cover of Gag Factor.

Posted by: Monstar

Re: Bernstein and Woodward of XXXPornTalk - 06/24/05 12:28 PM

@ erotica l.a. 2004 they were selling dvds @ $3 to people.

citing an over print or some such....i was hoping they would be @ this years...i could have bought the catalog outright.

Posted by: JRV

Re: Bernstein and Woodward of XXXPornTalk - 06/24/05 06:47 PM

Even if JKP's warehouse inventory was worth $1.75 per unit, you'd never pay anywhere near that much. There's way too much risk. You'd have to "discount" your offer a lot.

Remember that the company is either dead, or you have to assume that. Whatever money you hand over will be *gone* instantly, never to be seen again - like handing a cokehead a $100 bill - and can never be recovered if there's a problem.

For example, when you drop by JKP's warehouse some dude points at a cardboard box and says "there's a hundred pieces of Blown-Out Butts #37". Sounds good - you can sell that. But what if it's really got "Pamela Peaks explains Porn Makeup"?

Or a couple of bricks in packing peanuts? Maybe with real units on top to make it look legit?

Or maybe there's no DVDs in the shells and Joe figured someone would be dumb enough to buy anyway.

And what if Friedland reappears a few weeks later and claims what you bought is stolen property?

There's a lot of risk for vultures feeding off a carcass. There are companies that specialize in doing just this, and they have to substantially discount their offers just to keep up with the fraud and garbage.

Posted by: Kami Andrews

Re: Bernstein and Woodward of XXXPornTalk - 06/24/05 07:23 PM

I was a manager at a county seat that folded and liquidators came in and it was not pretty. wow that time in my life sucked. and I got fucked out of my 3k bonus and a "package" the liquidators promised. The liquidators lied to me and my staff, they would say anything to keep us working for them and not taking other job offers till the day they decided to pull the gate and consolodate. (I began managing the Ann Taylor at the same time)
God being a whore is a good life. When I think of the hours and Lies and problems in *that* business

Posted by: scottbiz

Re: Bernstein and Woodward of XXXPornTalk - 06/25/05 07:54 AM

You do not have the facts. Ron Stone was fired by Jill- he did not leave on his own accord. Dan Ice is in charge now of the day to day operations of JKP. Jill resigned as president and as a board member, and has nothing to do with the company. Bob disappeared-literally. Nobody knows where he is: he was in the office one day, then gone. He did leave us in a lurch- sorry if you do not like my choice of words. Jenna's contract expired at the end of March and she did not want to stay on without Jill at the company. Tyra and Nikki are still under contract with us. I know that all the girls will be fine in whatever choices they make. These are the facts as I know them today.

Posted by: scottbiz

Re: Bernstein and Woodward of XXXPornTalk - 06/25/05 08:00 AM

Again, not true. We sold VHS, not DVD at discount prices cause we no longer carry them and wanted to get rid of the excess inventory.

Posted by: JRV

Re: Bernstein and Woodward of XXXPornTalk - 06/25/05 08:18 AM

Quote:

Dan Ice is in charge now.

Who promoted him? He's not listed as an officer or board member as of March 2004. Every officer and board member has left the scene. Will the bank let Dan sign paychecks?

Posted by: smiling arab

Re: Bernstein and Woodward of XXXPornTalk - 06/26/05 07:54 PM

Scott Hoover, you're a complete tool.

I just told you that I didn't understand how someone so naive could work in such a degenerate, cut-throat industry. I said that all three of your corporate officers had left, one after another. You just reiterated every word I said, with the added info that one of those officers was fired (and the difference is?), by the namesake of the company who has nothing to do with it anymore.

You remember when you wrote that profanity-laced tirade, screaching that JKP was only judged suspiciously "because it's a woman owned company"? You were full of shit then and you're full of it now.

On the other hand, you did clarify something for me. Namely: who is Dan Ice's padrone, el hombre? He's got to have one. Who is he running the company for? Which distributor? He's fronting for someone (and I don't mean that in an underhanded way. JKP has obviously been taken over by someone on the sly. It's the only thing that makes sense.)

But back to you, Scott. When your CEO, who owns more than 30% of the company (and Bob owns more than that) "vanishes" and you "don't know where he is," get the fuck out. What, are you going to wait for the black and whites to show up at the door, detain you in a tiny room and go up your ass with a paper shredder? You're working for a classic fucked company in the classic fucked industry. Anyone else in any other industry would have come to work with a refrigerator box and walked out with 50 reams of paper and seventeen boxes of Bic pens by now.

Posted by: jamesn

Re: Bernstein and Woodward of XXXPornTalk - 06/26/05 08:13 PM

someone's paying scotty, that's obvious. the PR-guy should be distancing himself and looking for a new job unless he knows he's going to be getting a signed check from someone. nobody's that stupid. so who's signing scott's checks these day?

Posted by: scottbiz

Re: Bernstein and Woodward of XXXPornTalk - 06/27/05 08:17 AM

Okay, so now start attacking the employees? Great. You are just great. Thanks so much. It makes a difficult situation so much better for all of us. I was giving you some facts of what I know, not attacking anyone for expressing their opinion.

Posted by: jamesn

Re: Bernstein and Woodward of XXXPornTalk - 06/27/05 12:42 PM

so you're essentially showing up for work in the hopes that that "someone might pay me, it's very unlikely and i'm not sure who, but someone might pay me"?

talking about 2257 is worse than aids, but the timing doesn't lend itself to being ignoredl i've almost gotta wonder what role the 2257 stuff played, do you think they were going to be enough of a burden to a company that was staying alive not releasing movies but releasing their contract stars that he just decided to fold up early rather than have to deal with paying money and having coppers start looking at his books?

Posted by: frankieprnmgcn

Re: Bernstein and Woodward of XXXPornTalk - 06/27/05 12:49 PM

only thing ive noticed is that alot of dvd boxcovers r missing from some online shops that i had just checked a week ago.

Posted by: Jeff Steward

Re: Bernstein and Woodward of XXXPornTalk - 06/28/05 10:27 AM

Quote:

Yeah, Jeff, you're about the only one that has hard info on what their catalog would be worth. From the SB/2, they claim to have about 200, probably 250 videos by now. Considering they weren't best-sellers when they were new, how much would that be worth?

You ought to buy it just to put Mrs. Wankus on the cover of Gag Factor.

Its not worth much.Maybe $100,000 to $200,000 thats about it.You would basically be paying for the pieces they have in stock.They dont really have anything else thats worth anything.I wouldnt buy it but im sure someone out there would.

Posted by: smiling arab

Re: Bernstein and Woodward of XXXPornTalk - 06/28/05 02:31 PM

Quote:

Okay, so now start attacking the employees? Great. You are just great. Thanks so much. It makes a difficult situation so much better for all of us. I was giving you some facts of what I know, not attacking anyone for expressing their opinion.

Well, Scott, first you need to cure yourself of the delusion that I care what happens to JKP as a company, or anyone individually associated with it. I don't. There are children eating horseflies and cow tits in Africa. They deserve sympathy.

Secondly, I think I've given you a pretty good course of action here. To stay behind at a company with an enormous pile of debt even after every single corporate officer bails is dumb. I'm taking it you're young, so let me clue you in on the hiring process: you get no bonus points for going down with the ship. I've personally relished the opportunity to laugh in the face of people with companies like "e-toys" and "@home" on their resume. Frankly, if you're crouching alongside them in an abandoned warehouse somewhere turning a can of catfood over a hotplate, it's no sweat off my balls but I'm not too busy or proud enough to bypass the opportunity to ridicule you.

Third - and most importantly - when Bernstein and I were going apeshit, you took the opportunity to be as much of a prick as possible. We poked at enough scandalous shit that a normal (i.e., not illicit) company on any market would have collapsed. To that you had nothing but bullshit, and said in the most insulting manner possible. It's okay, it was your job to be a prick. Just like it's my hobby now to laugh at you. Nothing personal, sailor.

Posted by: Da Burglar

Re: Bernstein and Woodward of XXXPornTalk - 06/28/05 02:44 PM

Up to now I have avoided this thread like a 330 lb 31 yr old mexican chick in a toyota-pickup-sized electric wheelchair. I saw wayyyyyyy too much of this scenario from 1999 to '02 in various individual companies, and an industry as whole (funny Arab mentioned E-toys...I shuddered at that...) So many young people, otherwise bright, not being able to take their eyes off the rising water level of whatever boat they were in instead of looking to shore and gauging the distance.

Scott, bail. Just fucking bail. Slam a resume together, post it everywhere you can, make a thousand copies and start looking/calling/begging.

Posted by: JRV

AVN: JKP COO Dan Ice Discusses Changes - 06/28/05 09:22 PM

http://www.avn.com/index.php?Primary_Navigation=Articles&Action=View_Article&Content_ID=231936

AVN: JKP COO Dan Ice Discusses Changes

Quote:

â€œOur short-term plan is to continue to sell and distribute our product,â€ Ice said.

â€œIs there any way to make payroll other than generate revenue?â€

Quote:

Ice continued, â€œI think there is a lot of interesting, cutting edge things we can do out there.â€

Like, profitability?

Quote:

Weâ€™re going to have our ear a lot closer to the ground than in the past.

Wait, do I hear a police siren?

Quote:

Ice, who is from Missouri, said he first became involved with JKP as an investor.

â€œI invested in the company in its public offering 18 to 20 months ago,â€ he said. â€œI thought it was a great company with a great future.

You know it's a bad investment when you wake up one morning to find you're the owner of a publicly listed company worth $0.06 per share...

Quote:

Ice suggested that Friedlandâ€™s health contributed to his decision to leave.

It's preventative treatment for BH's health. As in, running now is a good idea since it wold be bad for his health if his mob backers caught him...

Quote:

Friedland has not been available for comment since his departure.

That quote may be from the SEC.

Quote:

Bob hasnâ€™t come into the office on a daily basis for a long time.

â€œWe didn't realize he'd left 'til the paychecks started bouncing.â€

Quote:

â€œWeâ€™re keeping all options open,â€ he said. â€œWeâ€™ll make our plans known as they firm up. â€¦

â€œIf you've got an old business plan from the dot-bomb era, please all 1-800-HEL-PJKP (before the phones get disconnected on Friday).â€

Posted by: Monstar

Nikki Benz Leaves JKP - 07/01/05 03:46 PM

Nikki Benz just walked

She left JKP today. She Called me to let me know what's up

Read it all on my site.

Click Here

Posted by: xvod

Re: Nikki Benz Leaves JKP - 07/01/05 04:46 PM

So, if Nikki is under contract with JKP how exactly does she plan on freelancing????

I'm under the impression that her contract would prohibit her from performing elsewhere. Am I wrong?

Posted by: Monstar

Re: Nikki Benz Leaves JKP - 07/01/05 05:50 PM

she.is.not.with.jkp.anymore.

did you read my what i wrote on my site at all?

""As of today I am no longer with Jill Kelly Productions!"."

wait, here ya go:

"As of today I am no longer with Jill Kelly Productions!".

Posted by: xvod

Who cares what you wrote... - 07/03/05 02:21 AM

Do you know if she is still legally under contract with x-JKP? Fuck, you can walk out on your contract to make car payments too, that doesn't mean the car payments disappear.

I think you had it right the first time when you called JK's new company 'Bad Intentions'. It goes like this... (all allegedly of course) rob old company blind, split, use remaining proceeds to start new company, lure talent to new company, old company files civil complaint, SEC gets involved...

Ah, who fuckin' cares. The courts will sort it out anyway. In the mean time I wouldn't advise investing any funds in the new venture.

Posted by: Monstar

Re: Who cares what you wrote... - 07/03/05 10:28 AM

Quote:

Do you know if she is still legally under contract with x-JKP? Fuck, you can walk out on your contract to make car payments too, that doesn't mean the car payments disappear.

I think you had it right the first time when you called JK's new company 'Bad Intentions'. It goes like this... (all allegedly of course) rob old company blind, split, use remaining proceeds to start new company, lure talent to new company, old company files civil complaint, SEC gets involved...

Ah, who fuckin' cares. The courts will sort it out anyway. In the mean time I wouldn't advise investing any funds in the new venture.

Nikki was released from the contract.

and i was corrected to the new name being "Bad Influence"

Posted by: jamesn

Re: Who cares what you wrote... - 07/06/05 07:29 PM

bump-so scott, it's been a few weeks--who's been signing your checks or are you long gone?

bob's fucked being the ceo who put his name on and signed shit, i feel for dan ice. well, not really.

Posted by: scottbiz

Re: Who cares what you wrote... - 07/09/05 09:19 AM

So all of you may have heard that yes, I have finally resigned from JKP. I was planning to leave along time ago, just had to have my ducks in a row. I could not exactly come on here and say negative things about the hand that was feeding me- I am sure you can understand that. I am not as much of a "tool" as you think.

Posted by: Bornyo

Re: Who cares what you wrote... - 07/09/05 09:32 AM

Quote:

So all of you may have heard that yes, I have finally resigned from JKP. I was planning to leave along time ago, just had to have my ducks in a row. I could not exactly come on here and say negative things about the hand that was feeding me- I am sure you can understand that. I am not as much of a "tool" as you think.

Good move on your part. I hope your last paycheck doesn't bounce and that you didn't have to take product in lieu of pay as severence.

Posted by: Kami Andrews

Re: Who cares what you wrote... - 07/09/05 10:30 AM

but if you did.....

Posted by: scottbiz

Re: Who cares what you wrote... - 07/09/05 12:20 PM

Hell no- I ran straight to the bank. No stock for me, thank you.

Posted by: Jeff Steward

Re: Who cares what you wrote... - 07/12/05 09:10 AM

I heard you got fired.

Posted by: smiling arab

Re: Who cares what you wrote... - 07/12/05 01:21 PM

I think Bob's fine on that angle. Go back and read the SB/2. He stated up front that the company owed him hundreds of thousands of dollars and that he could call in his promissory notes at any time. He also converted most other promissory notes to stock, so many other creditors couldn't do the same.

Posted by: scottbiz

Re: Who cares what you wrote... - 07/13/05 08:05 AM

If giving my resignation notice means I got fired, then damn I wasted some good paper and ink!

Posted by: Jeff Steward

Re: Who cares what you wrote... - 07/13/05 08:37 AM

So are you saying that Barbella is a liar?

Posted by: scottbiz

Re: Who cares what you wrote... - 07/13/05 05:45 PM

I would say that if he is your source for that misinformation then, yes he is.

Posted by: Saevus Maximus

Re: Who cares what you wrote... - 07/14/05 06:38 PM

As reported from avn.com

Is Jill Kelly Productions Nearing End?
By: Dan Miller
Posted: 4:11 pm PDT 7-14-2005

NORTH HOLLYWOOD, Calif. - Jill Kelly Productions is close to dissolving, sources told AVN.com, though chief operating officer Dan Ice said, â€œItâ€™s not true.â€

Secured creditors are closing in and will seize control in a matter of days, sources said, and a buyer is close to taking over their library of titles as over $10 million of investment money has been lost.

â€œI hear that library thing almost daily, not true,â€ Ice said.

JKP owes over $2 million to unsecured creditors and some $500,000 to the IRS, sources confirmed. Ice said â€œthe company owes a variety of customers for the normal course of business.â€

According to sources, Ice has invested over $300,000 in JKP. While not confirming the amount, he said, â€œI have an investment in the company like a lot of other people and I have hopes to make money on my investment. Iâ€™m just one of a number of other investors that believe in the future of the company.â€

Sources said that former CEO Bob Friedland has fled to New York, and no one has heard from him since. Former President Jill Kelly left the organization in June, and then the companyâ€™s final three contract girls, Jenna Haze, Tyra and Nikki Benz, separately announced their departures, followed by publicist Scott Hoover, who left to start Lucky Star Management.

Kelly, a Hall of Fame performer who founded the company with Friedland close to five years ago, was not available for comment.

Posted by: JRV

Re: Who cares what you wrote... - 07/17/05 11:43 AM

DAC posted this elsewhere. Sounds like things are going from bad to much worse.

Where are the creditors and why don't they just shut this thing down? If it's "Alliance", why are they letting Star and Kelly drain cash from the carcass if there's no further production going on? And why would Star and Kelly pay themselves such large salaries (compared to their value to the company) if they're going to into bankruptcy court and face creditors?

Quote:

IVD Taking Over Jill Kelly
snitches named in Kelly scenario; Kelly forming company called Bad Intentions

--Gene Ross

Porn Valley- Here's the story with Jill Kelly. IVD has taken over the Jill Kelly operation. And Kelly and an attorney from Las Vegas are attempting to form a new company called Bad Intentions. The inside snitches at JKP that were linking all the inside info were a former employee who was a production manager and his girlfriend who's still with the company. Salesman Mike Barbella handed in his resignation, and Dan Ice, who was running the company, has also taken off. Ice stays on the company's board of directors.

Barbella and Ice both made the decision to leave together. IVD acquired all the receivables. IVD also on Friday foreclosed on their 15 million shares in the company as well as on the receivables. IVD will be picking up all the masters and all the product from JKP. Customers of JKP are receiving letters indicating that they must make all payments to a company called Alliance, which is holding all the JKP notes at 80% on the dollar.

Attorney Philip Star and Jill Kelly are also back in the company. Star and Kelly fired all the college employees. Star, who was first brought in, in an attempt to oust Bob Friedland, has put himself on the payroll for $4,000 a week. Star has been described as some "nobody attorney from Vegas" who's a martinet, plops his feet up on a desk, drives a 17 year-old car, wears no socks and white button-up dress shirts with collars pulled straight up. Star also wears hair dye.

Star, who's been compared to a Regan Senter with a law degree, apparently hooked up with Kelly; and Kelly is using him as an advisor. Kelly signed some documents allowing Star to be on the board of directors. Star and Kelly have been working for weeks to wrest control of the company from Dan Ice after Bob Friedland took off. And IVD was fighting to acquire the whole line from Ice. At some point in time Ice realized he was in the middle of a losing battle and there was no way to keep IVD out of this takeover scenario.

Ice has resigned and the JKP company will be bankrupt. Star, this past Wednesday, announced that he was turning the operation over to Star, that he had been forced out. Ice began handing out checks telling employees that the checks were all good and would clear. Ice then announced he was on a plane and leaving Thursday. With Ice's announcement, Barbella immediately began packing his belongings.

Kelly will re-open the company, which was $3 million in debt, as Bad Intentions. Kelly will be taking $5,000 a week for herself.

At present JKP is selling comps at new release prices. All the editors have been fired as well.

Posted by: Monstar

Re: Who cares what you wrote... - 07/17/05 12:24 PM

actually Jill's new co. is "BAD INFLUENCE"

...good ol' gene

Posted by: Sir Greenly

Re: Who cares what you wrote... - 07/17/05 01:58 PM

Quote:

...good ol' gene

Good ol' Gene, indeed. Considering this article is written by Ross, I wonder how much of it is actually true. Gene's like the Criswell of gossip columnists. Almost as bad as Mike South when it comes to inaccurate info. I guess we'll see...

Posted by: jamesn

Re: Who cares what you wrote... - 05/22/06 06:49 AM

this thread be having some booklearning and stuff.

Posted by: Ivor Biggun

Re: Jill Kelly Fire Was No Mystery - It Was A Mess - 10/01/06 11:51 PM

Woohoo...

Turns out that that Jubilee Investment Trust plc, which apparently owned 21% of JKP by the time it went under, has as it's non-executive chairman a certain Mr Francis Maude - AKA the Right Honorable Francis Maude MP, Chairman of the UK Conservative Party.

Front page headline on the Mirror (one of the UK's biggest circulating newspapers) today: TORY CHIEF AND THE PORN STAR

Main Article

Posted by: k1ng

Re: Jill Kelly Fire Was No Mystery - It Was A Mess - 07/26/07 08:38 PM

great thread - arab is still missed

the jkp saga continues from luke's site

luke quotes from gene who quotes but doesn't link to the original report from The Chicago Tribune

Quote:

A fight between a female porn star and the former chief financial officer of her adult video company is the latest twist in the made-for-television bankruptcy case of Veg-O-Matic maker Ronco Corp.

Roncoâ€™s CFO Ronald Craig Stone faces allegations from porn star Jill Kelly of misappropriating funds and driving her adult movie company, Jill Kelly Productions, into bankruptcy. Stone was fired after the company filed for bankruptcy in Aug. 2005. He joined Ronco â€” founded by Ron Popeil who honed his informercial skills selling gadgets on Maxwell Street in Chicago â€” shortly afterward.

Posted by: Dean Wormer

Re: Jill Kelly Fire Was No Mystery - It Was A Mess - 07/27/07 01:11 AM

I'm never going to be able to watch the instant toupee infomercial again with the same naivete.

Posted by: Browser

Re: Jill Kelly Fire Was No Mystery - It Was A Mess - 07/27/07 10:35 AM

Quote:

I'm never going to be able to watch the instant toupee infomercial again with the same naivete.

I own a limited edition Popeil Pocket Pussy. Along with a Popeil Pocket Fisherman.

Posted by: Mark Felt

Re: Jill Kelly Fire Was No Mystery - It Was A Message - 06/22/11 05:09 PM

Originally Posted By: DukeFloored

JKP CEO Bob Friedland may have messed with the wrong crew this time when he booted Keith Gordon and his New York Bizarre guys from their partnership. www.lukeisback.com

Bump for L_ke. And Bump for the anons who keep checking this thread. What's that about?

Posted by: Jerkules

Re: Jill Kelly Fire Was No Mystery - It Was A Message - 06/23/11 11:07 AM

Probably doing research to write her Wiki over at Donkey Leaks. Statute of limitations is probably up on anything misdeeds described here.

Posted by: Anonymous

Re: Jill Kelly Fire Was No Mystery - It Was A Message - 11/15/12 05:09 AM

Originally Posted By: DukeFloored

JKP CEO Bob Friedland may have messed with the wrong crew this time when he booted Keith Gordon and his New York Bizarre guys from their partnership. www.lukeisback.com

In-the-News Bump.

Jill Kelly Fire Was No Mystery - It Was A Message