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13D
CUSIP No. 46988M 20 9 Page 4 of 18 pages
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Page 1 of 11 pages
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
JADE MOUNTAIN CORPORATION
(Name of Issuer)
Common Stock
(Title of Class of Securities)
46988M 20 9
(CUSIP Number)
Bank of America Corporation
Bank of America Corporate Center
100 North Tryon Street
Charlotte, North Carolina 28255
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
October 5, 2007
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on
Schedule 13G to report the acquisition that is the subject of this
Schedule 13D, and is filing this schedule because of Rule 13d-1(e),
13d-1(f) or 13d-1(g), check the following box. [ ]
Note: Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits.
See Rule 13d-7 for other parties to whom copies are to be sent.
___________________________
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to the
subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in a
prior cover page.
The information required on the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section
18 of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall
be subject to all other provisions of the Act (however, see the
Notes).
CUSIP No. 46988M 20 9 Page 11 of 11 pages
CUSIP No. 46988M 20 9 Page 2 of 11 pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
BANK OF AMERICA CORPORATION 56-0906609
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b)
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT
TO ITEM 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
0
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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8 SHARED VOTING POWER
1,785,714
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9 SOLE DISPOSITIVE POWER
0
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10 SHARED DISPOSITIVE POWER
1,785,714
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
1,785,714
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.1%
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14 TYPE OF REPORTING PERSON
CO
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
BLUE RIDGE INVESTMENTS, L.L.C. 56-1970824
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b) *
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT
TO ITEM 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
0
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
------------------------------------------------
------------------------------------------------
8 SHARED VOTING POWER
1,785,714
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9 SOLE DISPOSITIVE POWER
0
------------------------------------------------
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10 SHARED DISPOSITIVE POWER
1,785,714
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
1,785,714
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES
CERTAIN SHARES
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.1%
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14 TYPE OF REPORTING PERSON
OO
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Item 1. Security and Issuer.
This Schedule 13D relates to the Common Stock, $.01 par value
per share (the "Common Stock"), of Jade Mountain Corporation, a
Nevada corporation (the "Issuer"). The principal executive offices
of the Issuer are located at 211 West Wall Street, Midland, Texas
79701.
Item 2. Identity and Background.
This Schedule 13D is being filed pursuant to Rule 13d-1(a) of
the Securities Exchange Act of 1934, as amended, by Bank of America
Corporation, a Delaware corporation ("Bank of America"), and Blue
Ridge Investments, L.L.C., a Delaware limited liability company
("Blue Ridge"). Bank of America and Blue Ridge shall be referred to
herein in the aggregate as the "Reporting Persons."
Bank of America is a bank holding company registered under the
Bank Holding Company Act of 1956, as amended, engaged in the general
banking and financial services business through its subsidiaries.
Bank of America owns 99 percent of the outstanding membership
interests of Blue Ridge.
The principal address of Bank of America is Bank of America
Corporate Center, 100 North Tryon Street, Charlotte, North Carolina
28255.
Blue Ridge is a wholly owned, non-bank subsidiary of Bank of
America engaged in the business of investments in high-yield debt
and equity securities of varying types issued by U.S. corporate or
foreign issuers, including securities of distressed or bankrupt
issuers.
The principal address of Blue Ridge is 214 North Tryon Street,
Charlotte, North Carolina 28255.
Information concerning each executive officer, director and
controlling person of each of the Reporting Persons (the "Listed
Persons") is listed on Schedule I attached hereto, and is
incorporated by reference herein. To the knowledge of the Reporting
Persons, all of the Listed Persons are citizens of the United States.
Other than as set forth on Schedule II, during the last five
years, none of the Reporting Persons, and to the best knowledge of
the Reporting Persons, none of the Listed Persons, have been
convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) or was a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction as a
result of which such person was or is subject to a judgment, decree
or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws,
or finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration
Blue Ridge acquired the Common Stock for $8,000,000 using its
working capital.
Item 4. Purpose of Transaction
Blue Ridge acquired the Common Stock for investment purposes.
Item 5. Interest in Securities of the Issuer
(a) Blue Ridge directly beneficially owns, Bank of America may
be deemed to beneficially own by virtue of its owning 99 percent of
the outstanding membership interests of Blue Ridge and NB Holdings,
a wholly owned, non-bank subsidiary of Bank of America, may be
deemed to beneficially own by virtue of its owning one percent of
the outstanding membership interests of Blue Ridge, 1,785,714 shares
of Common Stock of the Issuer, representing approximately 7.1% of
outstanding Common Stock.
Except as set forth in this Item 5(a), the Reporting
Persons do not beneficially own any Common Stock.
(b) The Reporting Persons have shared power to vote or direct
the vote and to dispose or to direct the disposition of the Common
Stock reported hereby.
(c) The Common Stock identified in Item 5(a) hereof was
acquired on October 5, 2007 pursuant a Securities Purchase Agreement
dated as of September 27, 2007, by and among the Issuer, Blue Ridge
and the other investors named therein. Except as identified in the
preceding sentence, the Reporting Persons have not effected any
transaction in the Common Stock during the past sixty days.
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer
As of September 27, 2007, the Issuer, Blue Ridge, and the other
investors party to the Securities Purchase Agreement entered into a
Registration Rights Agreement pursuant to which Issuer has
undertaken to file a registration statement with the Securities and
Exchange Commission on Form S-3 to permit the resale of the common
stock by Blue Ridge and the other investors named in the
Registration Rights Agreement.
Item 7. Material to Be Filed as Exhibits
Exhibit Name
99.1 Joint Filing Agreement, dated as of October
15, 2007 by and among Bank of America and Blue
Ridge.
SIGNATURE
After reasonable inquiry and to the best of the knowledge and
belief of each of the undersigned, each of the undersigned certifies
that the information set forth in this statement is true, complete
and correct.
Dated: October 15, 2007
BANK OF AMERICA CORPORATION
By: /s/ Lucille E. Reymann
Name: Lucille E. Reymann
Title: Senior Vice President
BLUE RIDGE INVESTMENTS, L.L.C.
By: /s/ Daven A. Patel
Name: Daven A. Patel
Title: Vice President
SCHEDULE I
EXECUTIVE OFFICERS AND DIRECTORS OF THE REPORTING PERSONS
The following sets forth the name, business address, and present
principal occupation of each executive officer and director of Bank
of America Corporation.
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Name Position with Principal Occupation
Bank of America
Corporation
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Kenneth D. Chairman, Chief Chairman, Chief
Lewis Executive Executive Officer and
Officer, President of Bank of
President and America Corporation
Director
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J. Steele Chief Chief Administrative
Alphin Administrative Officer of Bank of
Officer America Corporation
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Liam E. McGee President, President, Global
Global Consumer Consumer and Small
and Small Business Banking of
Business Banking Bank of America
Corporation
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Brian T. President, President, Global
Moynihan Global Wealth Wealth and Investment
and Investment Management of Bank of
Management America Corporation
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R. Eugene Vice Chairman, Vice Chairman,
Taylor President, President, Global
Global Corporate Corporate and
and Investment Investment Banking of
Banking Bank of America
Corporation
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Joe L. Price Chief Financial Chief Financial
Officer Officer of Bank of
America Corporation
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Amy Woods Chief Risk Chief Risk Officer of
Brinkley Officer Bank of America
Corporation
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Barbara J. Chief Technology Chief Technology and
Desoer and Operations Operations Officer of
Officer Bank of America
Corporation
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William Director Chairman, President
Barnet, III and Chief Executive
Officer of The Barnet
Company
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Frank P. Director Former Executive
Bramble, Sr. Officer of MBNA
Corporation
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John T. Director Chief Executive
Collins Officer of The Collins
Group, Inc.
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Gary L. Director Chairman Emeritus of
Countryman Liberty Mutual Group
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Tommy R. Director Retired General,
Franks United States Army
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Charles K. Director Former Chairman of
Gifford Bank of America
Corporation
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W. Steven Director Dean of Kenan-Flagler
Jones Business School,
University of North
Carolina at Chapel Hill
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Monica C. Director Publisher and Chief
Lozano Executive Officer of
La Opinion
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Walter E. Director President of Morehouse
Massey College
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Thomas J. May Director Chairman of President
and Chief Executive
Officer, NSTAR
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Patricia E. Director President and Chief
Mitchell Executive Officer of
The Paley Center of
Media
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Thomas M. Ryan Director President and Chief
Executive Officer of
CVS/Caremark
Corporation
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O. Temple Director Chairman of General
Sloan, Jr. Parts International,
Inc.
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Meredith R. Director Director of C.D.
Spangler Spangler Construction
Company, Chairman of
the Board of C.D.
Spangler Foundation,
Trustee of Wellesley
College Board of
Trustees
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Robert L. Director Chairman and CEO
Tillman Emeritus of Lowe's
Companies, Inc.
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Jackie M. Ward Director Retired Chairman/CEO,
Computer Generation,
Inc.
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The following sets forth the name, business address, and present
principal occupation of each executive officer and director of Blue
Ridge Investments, L.L.C.
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Name Position with Principal Occupation
Blue Ridge
Investments,
L.L.C.
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Brian J. Brille Manager Global Investment Bank
Executive, Bank of
America Corporation
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Kris A. Gagnon Manager Risk Management
Executive, Bank of
America Corporation
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Thomas G. White Manager Head of Global
Markets, Bank of
America Corporation
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J. Chandler President Treasurer, Bank of
Martin America Corporation
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SCHEDULE II
BANK OF AMERICA CORPORATION ("BANK OF AMERICA") ENTERED INTO A CIVIL
SETTLEMENT AGREEMENT WITH THE NEW YORK COUNTY (NEW YORK) DISTRICT
ATTORNEY ON SEPTEMBER 28, 2006. THE AGREEMENT PROVIDES THAT, FROM
ABOUT 2002 TO 2004, BANK OF AMERICA HAD DEFICIENCIES IN CERTAIN
INTERNAL ANTI-MONEY LAUNDERING CONTROLS AND FAILED TO REACT
APPROPRIATELY TO THE RISK PRESENTED BY CERTAIN SOUTH AMERICAN MONEY
SERVICES BUSINESS CUSTOMERS, WHO MOVED FUNDS ILLEGALLY THROUGH BANK
OF AMERICA. THE AGREEMENT REQUIRES BANK OF AMERICA TO MAKE A TOTAL
PAYMENT OF $7.5 MILLION, TO COOPERATE WITH THE DISTRICT ATTORNEY IN
ONGOING INVESTIGATIONS, AND TO ABIDE BY ANTI-MONEY LAUNDERING
CHANGES RECOMMENDED BY BANK OF AMERICA'S REGULATORS.
THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM AND THE RESERVE
BANK REVIEWED CERTAIN ACTIVITIES OF BANK OF AMERICA'S WEALTH AND
INVESTMENT MANAGEMENT GROUP. THE RESERVE BANK RAISED CONCERNS THAT
BANK OF AMERICA AND ITS SUBSIDIARIES DID NOT ADEQUATELY ASSESS THE
LEGAL AND REPUTATIONAL RISKS POSED BY CERTAIN MUTUAL FUND TRADING
ACTIVITIES AND ADDRESS FLAWS IN COMPLIANCE AND RISK MANAGEMENT
PERTAINING TO THE ASSET MANAGEMENT LINES OF BUSINESS. FOLLOWING THAT
REVIEW, THE BANK AND THE RESERVE BANK EXECUTED A WRITTEN AGREEMENT
TO ENSURE THAT THE BANK AND ITS SUBSIDIARIES MAKE PROGRESS IN THEIR
EFFORTS TO ADOPT AND IMPLEMENT NUMEROUS CORRECTIVE ACTIONS AND BEST
PRACTICE RECOMMENDATIONS. BANK OF AMERICA HAS AGREED TO CONTINUE TO
TAKE STEPS TO ADOPT AND IMPLEMENT CORRECTIVE ACTIONS AND BEST
PRACTICE RECOMMENDATIONS OF THE INDEPENDENT CONSULTANTS AND TO
ENHANCE THE ENTERPRISE-WIDE COMPLIANCE PROGRAM TO ENSURE COMPLIANCE
WITH ALL APPLICABLE LAWS AND REGULATIONS, INCLUDING BUT NOT LIMITED
TO SECURITIES LAWS AND REGULATIONS INCLUDING, AMONG OTHER THINGS, A
PROCESS FOR RESOLVING OR ESCALATING COMPLIANCE ISSUES, ONGOING
TRAINING ON POLICIES AND PROCEDURES FOR COMPLIANCE WITH LAWS AND
REGULATIONS FOR CERTAIN STAFF OF BANK OF AMERICA AND ITS
SUBSIDIARIES, ENSURE PROCESSES FOR AN ENHANCED APPROVAL PROCESS FOR
NEW CLIENTS, NEW OR UNIQUE INVESTMENT PRODUCTS, SERVICES OR
TRANSACTIONS, AND MATERIAL CHANGES TO EXISTING PRODUCTS OR SERVICES,
PROCEDURES TO ENSURE THOROUGH ASSESSMENT OF RISKS, POLICIES AND
PROCEDURES TO ENSURE PRODUCTS, SERVICES AND ARRANGEMENTS ARE
CONSISTENT WITH BUSINESS EXPERTISE, STRATEGY AND APPROVED RISK
PROFILE, PROCEDURES FOR INTERNAL AUDIT, MECHANISMS FOR PERIODIC
REVIEWS, MONITORING OF ENTERPRISE-WIDE ADOPTION AND EXECUTION OF NEW
POLICIES AND PROCEDURES AND OTHER RECOMMENDATIONS OF THE INDEPENDENT
CONSULTANTS, AND SUBMISSION OF PROGRESS REPORTS TO RESERVE BANK.
Exhibit 99.1
JOINT FILING AGREEMENT
JOINT FILING AGREEMENT, dated as of the 15th day of
October, 2007, between (i) Bank of America Corporation and (ii) Blue
Ridge Investments, L.L.C. (together, the "Joint Filers").
WHEREAS, pursuant to Rule 13d-1(k)(1) under the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), the parties
hereto desire to satisfy any filing obligation under Section 13(d)
of the Exchange Act by a single joint filing;
NOW, THEREFORE, in consideration of the premises and the
mutual covenants herein contained, the Joint Filers hereby agree and
represent as follows:
1. The Schedule 13D with respect to the Common Stock of
$.01 par value of Jade Mountain Corporation, a Nevada corporation
(to which this Joint Filing Agreement is an exhibit) is filed on
behalf of each of the Joint Filers.
2. Each of the Joint Filers is eligible to use Schedule
13D for the filing of information therein.
3. Each of the Joint Filers is responsible for the timely
filing of Schedule 13D and any amendments thereto, and for the
completeness and accuracy of the information concerning such person
contained therein, provided that each such person is not responsible
for the completeness or accuracy of the information concerning the
other persons making the filing, unless such person knows or has
reason to believe that such information is inaccurate.
4. This Joint Filing Agreement may be executed in one or
more counterparts, all of which taken together shall constitute one
and the same instrument.
BANK OF AMERICA CORPORATION
By: /s/ Lucille E. Reymann
Name: Lucille E. Reymann
Title: Senior Vice President
BLUE RIDGE INVESTMENTS, L.L.C.
By: /s/ Daven A. Patel
Name: Daven A. Patel
Title: Vice President