JKA JK Acquisition Corp

CUSIP No. 47759H106 13G Page 2 of 27 Pages



____________________________________________________________________________

 (1) NAMES OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

 SATELLITE FUND II, L.P.
_____________________________________________________________________________
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **

 (a) [ ]
 (b) [X]
_____________________________________________________________________________

 (3) SEC USE ONLY
_____________________________________________________________________________
 (4) CITIZENSHIP OR PLACE OF ORGANIZATION

 DELAWARE
_____________________________________________________________________________
NUMBER OF (5) SOLE VOTING POWER
 0
SHARES ______________________________________________________________

BENEFICIALLY (6) SHARED VOTING POWER
 19,521
OWNED BY ______________________________________________________________

EACH (7) SOLE DISPOSITIVE POWER
 0
REPORTING ______________________________________________________________

PERSON WITH (8) SHARED DISPOSITIVE POWER
 19,521
_____________________________________________________________________________
 (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 19,521
_____________________________________________________________________________
 (10) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (9) EXCLUDES CERTAIN SHARES **
 [ ]
_____________________________________________________________________________
 (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 0.12%
_____________________________________________________________________________
 (12) TYPE OF REPORTING PERSON **
 PN
_____________________________________________________________________________
 ** SEE INSTRUCTIONS BEFORE FILLING OUT!

CUSIP No. 47759H106 13G Page 3 of 27 Pages

____________________________________________________________________________


 (1) NAMES OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

 SATELLITE FUND IV, L.P.
_____________________________________________________________________________
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
 (a) [ ]
 (b) [X]
_____________________________________________________________________________
 (3) SEC USE ONLY
_____________________________________________________________________________
 (4) CITIZENSHIP OR PLACE OF ORGANIZATION

 DELAWARE
_____________________________________________________________________________
NUMBER OF (5) SOLE VOTING POWER
 0
SHARES ______________________________________________________________

BENEFICIALLY (6) SHARED VOTING POWER
 3,538
OWNED BY ______________________________________________________________

EACH (7) SOLE DISPOSITIVE POWER
 0
REPORTING ______________________________________________________________

PERSON WITH (8) SHARED DISPOSITIVE POWER
 3,538
_____________________________________________________________________________
 (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 3,538
_____________________________________________________________________________
 (10) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (9) EXCLUDES CERTAIN SHARES **
 [ ]
_____________________________________________________________________________
 (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 0.02%
_____________________________________________________________________________
 (12) TYPE OF REPORTING PERSON **
 PN
_____________________________________________________________________________
 ** SEE INSTRUCTIONS BEFORE FILLING OUT!

CUSIP No. 47759H106 13G Page 4 of 27 Pages

____________________________________________________________________________

 (1) NAMES OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

 SATELLITE OVERSEAS FUND, LTD.
_____________________________________________________________________________
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
 (a) [ ]
 (b) [X]
_____________________________________________________________________________
 (3) SEC USE ONLY
_____________________________________________________________________________
 (4) CITIZENSHIP OR PLACE OF ORGANIZATION

 CAYMAN ISLANDS
_____________________________________________________________________________
NUMBER OF (5) SOLE VOTING POWER
 0
SHARES ______________________________________________________________

BENEFICIALLY (6) SHARED VOTING POWER
 50,131
OWNED BY ______________________________________________________________

EACH (7) SOLE DISPOSITIVE POWER
 0
REPORTING ______________________________________________________________

PERSON WITH (8) SHARED DISPOSITIVE POWER
 50,131
_____________________________________________________________________________
 (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 50,131
_____________________________________________________________________________
 (10) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (9) EXCLUDES CERTAIN SHARES **
 [ ]
_____________________________________________________________________________
 (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 0.30%
_____________________________________________________________________________
 (12) TYPE OF REPORTING PERSON **
 CO
_____________________________________________________________________________
 ** SEE INSTRUCTIONS BEFORE FILLING OUT!

CUSIP No. 47759H106 13G Page 5 of 27 Pages

____________________________________________________________________________



 (1) NAMES OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

 THE APOGEE FUND, LTD.
_____________________________________________________________________________
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
 (a) [ ]
 (b) [X]
_____________________________________________________________________________
 (3) SEC USE ONLY
_____________________________________________________________________________
 (4) CITIZENSHIP OR PLACE OF ORGANIZATION

 CAYMAN ISLANDS
_____________________________________________________________________________
NUMBER OF (5) SOLE VOTING POWER
 0
SHARES ______________________________________________________________

BENEFICIALLY (6) SHARED VOTING POWER
 8,560
OWNED BY ______________________________________________________________

EACH (7) SOLE DISPOSITIVE POWER
 0
REPORTING ______________________________________________________________

PERSON WITH (8) SHARED DISPOSITIVE POWER
 8,560
_____________________________________________________________________________
 (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 8,560
_____________________________________________________________________________
 (10) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (9) EXCLUDES CERTAIN SHARES **
 [ ]
_____________________________________________________________________________
 (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 0.05%
_____________________________________________________________________________
 (12) TYPE OF REPORTING PERSON **
 CO
_____________________________________________________________________________
 ** SEE INSTRUCTIONS BEFORE FILLING OUT!

CUSIP No. 47759H106 13G Page 6 of 27 Pages

____________________________________________________________________________

 (1) NAMES OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

 SATELLITE OVERSEAS FUND V, LTD.

_____________________________________________________________________________
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
 (a) [ ]
 (b) [X]
_____________________________________________________________________________
 (3) SEC USE ONLY
_____________________________________________________________________________
 (4) CITIZENSHIP OR PLACE OF ORGANIZATION
 CAYMAN ISLANDS
_____________________________________________________________________________
NUMBER OF (5) SOLE VOTING POWER
 0
SHARES ______________________________________________________________

BENEFICIALLY (6) SHARED VOTING POWER
 3,779
OWNED BY ______________________________________________________________

EACH (7) SOLE DISPOSITIVE POWER
 0
REPORTING ______________________________________________________________

PERSON WITH (8) SHARED DISPOSITIVE POWER
 3,779
_____________________________________________________________________________
 (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 3,779
_____________________________________________________________________________
 (10) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (9) EXCLUDES CERTAIN SHARES **
 [ ]
_____________________________________________________________________________
 (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 0.02%
_____________________________________________________________________________
 (12) TYPE OF REPORTING PERSON **
 CO
_____________________________________________________________________________
 ** SEE INSTRUCTIONS BEFORE FILLING OUT!

CUSIP No. 47759H106 13G Page 7 of 27 Pages

____________________________________________________________________________


 (1) NAMES OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

 SATELLITE OVERSEAS FUND VI, LTD.

_____________________________________________________________________________
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
 (a) [ ]
 (b) [X]
_____________________________________________________________________________
 (3) SEC USE ONLY
_____________________________________________________________________________
 (4) CITIZENSHIP OR PLACE OF ORGANIZATION
 CAYMAN ISLANDS
_____________________________________________________________________________
NUMBER OF (5) SOLE VOTING POWER
 0
SHARES ______________________________________________________________

BENEFICIALLY (6) SHARED VOTING POWER
 1,282
OWNED BY ______________________________________________________________

EACH (7) SOLE DISPOSITIVE POWER
 0
REPORTING ______________________________________________________________

PERSON WITH (8) SHARED DISPOSITIVE POWER
 1,282
_____________________________________________________________________________
 (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 1,282
_____________________________________________________________________________
 (10) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (9) EXCLUDES CERTAIN SHARES **
 [ ]
_____________________________________________________________________________
 (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 0.01%
_____________________________________________________________________________
 (12) TYPE OF REPORTING PERSON **
 CO
_____________________________________________________________________________
 ** SEE INSTRUCTIONS BEFORE FILLING OUT!

CUSIP No. 47759H106 13G Page 8 of 27 Pages

____________________________________________________________________________


 (1) NAMES OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

 SATELLITE OVERSEAS FUND VII, LTD.

_____________________________________________________________________________
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
 (a) [ ]
 (b) [X]
_____________________________________________________________________________
 (3) SEC USE ONLY
_____________________________________________________________________________
 (4) CITIZENSHIP OR PLACE OF ORGANIZATION
 CAYMAN ISLANDS
_____________________________________________________________________________
NUMBER OF (5) SOLE VOTING POWER
 0
SHARES ______________________________________________________________

BENEFICIALLY (6) SHARED VOTING POWER
 3,004
OWNED BY ______________________________________________________________

EACH (7) SOLE DISPOSITIVE POWER
 0
REPORTING ______________________________________________________________

PERSON WITH (8) SHARED DISPOSITIVE POWER
 3,004
_____________________________________________________________________________
 (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 3,004
_____________________________________________________________________________
 (10) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (9) EXCLUDES CERTAIN SHARES **
 [ ]
_____________________________________________________________________________
 (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 0.02%
_____________________________________________________________________________
 (12) TYPE OF REPORTING PERSON **
 CO
_____________________________________________________________________________
 ** SEE INSTRUCTIONS BEFORE FILLING OUT!

CUSIP No. 47759H106 13G Page 9 of 27 Pages

____________________________________________________________________________


 (1) NAMES OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

 SATELLITE OVERSEAS FUND VIII, LTD.

_____________________________________________________________________________
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
 (a) [ ]
 (b) [X]
_____________________________________________________________________________
 (3) SEC USE ONLY
_____________________________________________________________________________
 (4) CITIZENSHIP OR PLACE OF ORGANIZATION

 CAYMAN ISLANDS
_____________________________________________________________________________

NUMBER OF (5) SOLE VOTING POWER
 0
SHARES ______________________________________________________________

BENEFICIALLY (6) SHARED VOTING POWER
 3,852
OWNED BY ______________________________________________________________

EACH (7) SOLE DISPOSITIVE POWER
 0
REPORTING ______________________________________________________________

PERSON WITH (8) SHARED DISPOSITIVE POWER
 3,852
_____________________________________________________________________________
 (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 3,852
_____________________________________________________________________________
 (10) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (9) EXCLUDES CERTAIN SHARES **
 [ ]
_____________________________________________________________________________
 (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 0.02%
_____________________________________________________________________________
 (12) TYPE OF REPORTING PERSON **
 CO
_____________________________________________________________________________
 ** SEE INSTRUCTIONS BEFORE FILLING OUT!

CUSIP No. 47759H106 13G Page 10 of 27 Pages

____________________________________________________________________________



 (1) NAMES OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

 SATELLITE OVERSEAS FUND IX, LTD.

_____________________________________________________________________________
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
 (a) [ ]
 (b) [X]
_____________________________________________________________________________
 (3) SEC USE ONLY
_____________________________________________________________________________
 (4) CITIZENSHIP OR PLACE OF ORGANIZATION
 CAYMAN ISLANDS
_____________________________________________________________________________
NUMBER OF (5) SOLE VOTING POWER
 0
SHARES ______________________________________________________________

BENEFICIALLY (6) SHARED VOTING POWER
 4,183
OWNED BY ______________________________________________________________

EACH (7) SOLE DISPOSITIVE POWER
 0
REPORTING ______________________________________________________________

PERSON WITH (8) SHARED DISPOSITIVE POWER
 4,183
_____________________________________________________________________________
 (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 4,183
_____________________________________________________________________________
 (10) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (9) EXCLUDES CERTAIN SHARES **
 [ ]
_____________________________________________________________________________
 (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 0.03%
_____________________________________________________________________________
 (12) TYPE OF REPORTING PERSON **
 CO
_____________________________________________________________________________
 ** SEE INSTRUCTIONS BEFORE FILLING OUT!

CUSIP No. 47759H106 13G Page 11 of 27 Pages

____________________________________________________________________________


 (1) NAMES OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

 SATELLITE ASSET MANAGEMENT, L.P.
_____________________________________________________________________________
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
 (a) [ ]
 (b) [X]
_____________________________________________________________________________
 (3) SEC USE ONLY
_____________________________________________________________________________
 (4) CITIZENSHIP OR PLACE OF ORGANIZATION
 DELAWARE
_____________________________________________________________________________
NUMBER OF (5) SOLE VOTING POWER
 0
SHARES ______________________________________________________________

BENEFICIALLY (6) SHARED VOTING POWER
 97,850
OWNED BY ______________________________________________________________

EACH (7) SOLE DISPOSITIVE POWER
 0
REPORTING ______________________________________________________________

PERSON WITH (8) SHARED DISPOSITIVE POWER
 97,850
_____________________________________________________________________________
 (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 97,850
_____________________________________________________________________________
 (10) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (9) EXCLUDES CERTAIN SHARES**
 [ ]
_____________________________________________________________________________
 (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 0.59%
_____________________________________________________________________________
 (12) TYPE OF REPORTING PERSON **
 IA;PN
_____________________________________________________________________________
 ** SEE INSTRUCTIONS BEFORE FILLING OUT!

CUSIP No. 47759H106 13G Page 11 of 27 Pages

____________________________________________________________________________

 (1) NAMES OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

 SATELLITE FUND MANAGEMENT LLC
_____________________________________________________________________________
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
 (a) [ ]
 (b) [X]
_____________________________________________________________________________
 (3) SEC USE ONLY
_____________________________________________________________________________
 (4) CITIZENSHIP OR PLACE OF ORGANIZATION
 DELAWARE
_____________________________________________________________________________
NUMBER OF (5) SOLE VOTING POWER
 0
SHARES ______________________________________________________________

BENEFICIALLY (6) SHARED VOTING POWER
 97,850
OWNED BY ______________________________________________________________

EACH (7) SOLE DISPOSITIVE POWER
 0
REPORTING ______________________________________________________________

PERSON WITH (8) SHARED DISPOSITIVE POWER
 97,850
_____________________________________________________________________________
 (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 97,850
_____________________________________________________________________________
 (10) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (9) EXCLUDES CERTAIN SHARES**
 [ ]
_____________________________________________________________________________
 (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 0.59%
_____________________________________________________________________________
 (12) TYPE OF REPORTING PERSON **
 OO
_____________________________________________________________________________
 ** SEE INSTRUCTIONS BEFORE FILLING OUT!

CUSIP No. 47759H106 13G Page 12 of 27 Pages

____________________________________________________________________________




 (1) NAMES OF REPORTING PERSONS
 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

 SATELLITE ADVISORS, L.L.C.
_____________________________________________________________________________
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
 (a) [ ]
 (b) [X]
_____________________________________________________________________________
 (3) SEC USE ONLY
_____________________________________________________________________________
 (4) CITIZENSHIP OR PLACE OF ORGANIZATION
 DELAWARE
_____________________________________________________________________________
NUMBER OF (5) SOLE VOTING POWER
 0
SHARES ______________________________________________________________

BENEFICIALLY (6) SHARED VOTING POWER
 23,059
OWNED BY ______________________________________________________________

EACH (7) SOLE DISPOSITIVE POWER
 0
REPORTING ______________________________________________________________

PERSON WITH (8) SHARED DISPOSITIVE POWER
 23,059
_____________________________________________________________________________
 (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 23,059
_____________________________________________________________________________
 (10) CHECK BOX IF THE AGGREGATE AMOUNT
 IN ROW (9) EXCLUDES CERTAIN SHARES**
 [ ]
_____________________________________________________________________________
 (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 0.14%
_____________________________________________________________________________
 (12) TYPE OF REPORTING PERSON **
 OO
_____________________________________________________________________________
 ** SEE INSTRUCTIONS BEFORE FILLING OUT!

CUSIP No. 47759H106 13G Page 13 of 27 Pages

____________________________________________________________________________




Item 1(a). NAME OF ISSUER:

 JK Acquisition Corp. (the "Issuer").

Item 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

 4400 Post Oak Parkway
 Suite 2530
 Houston, TX 77027


Item 2(a). NAME OF PERSON FILING:

 This statement is filed by:

(i) Satellite Fund II, L.P. ("Satellite II");
(ii) Satellite Fund IV, L.P. ("Satellite IV");
(iii) Satellite Overseas Fund, Ltd. ("Satellite Overseas")
(iv) The Apogee Fund, Ltd. ("Apogee");
(v) Satellite Overseas Fund V, Ltd. ("Satellite Overseas V");
(vi) Satellite Overseas Fund VI, Ltd. ("Satellite Overseas VI");
(vii) Satellite Overseas Fund VII, Ltd. ("Satellite Overseas VII");
(viii) Satellite Overseas Fund VIII, Ltd. ("Satellite Overseas VIII");
(ix) Satellite Overseas Fund IX, Ltd. ("Satellite Overseas IX");
(x) Satellite Asset Management, L.P. ("Satellite Asset Management");
(xi) Satellite Fund Management LLC ("Satellite Fund Management"); and
(xii) Satellite Advisors, L.L.C. ("Satellite Advisors").

 This statement relates to Shares (as defined herein) held by (i)
Satellite II, Satellite IV (collectively, the "Delaware Funds") over which
Satellite Advisors has discretionary trading authority, as general partner, and
(ii) Satellite Overseas, Apogee, Satellite Overseas V, Satellite Overseas VI,
Satellite Overseas VI, Satellite Overseas VII, Satellite Overseas VIII, and
Satellite Overseas IX (collectively, the "Offshore Funds" and together with the
Delaware Funds, the "Satellite Funds") over which Satellite Asset Management
has discretionary investment trading authority. The general partner of
Satellite Asset Managementis Satellite Fund Management. Satellite Fund
Management and Satellite Advisors each share the same Executive Committee
that make investment decisions on behalf of the Satellite Funds and
investment decisions made by such Executive Committee, when necessary,
are made through approval of a majority of the Executive Committee members.

 The foregoing persons are hereinafter sometimes collectively referred to as
the "Reporting Persons."

Item 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:

 The address of the business office of each of the Reporting Persons
 is 623 Fifth Avenue, 19th Floor, New York, NY 10022.

CUSIP No. 47759H106 13G Page 14 of 27 Pages

____________________________________________________________________________



Item 2(c). CITIZENSHIP:


 1) Satellite II is a Delaware limited partnership;

 2) Satellite IV is a Delaware limited partnership;

 3) Satellite Overseas is a Cayman Islands exempted company;

 4) Apogee is a Cayman Islands exempted company;

 5) Satellite Overseas V is a Cayman Islands exempted company;

 6) Satellite Overseas VI is a Cayman Islands exempted company;

 7) Satellite Overseas VII is a Cayman Islands exempted company;

 8) Satellite Overseas VIII is a Cayman Islands exempted company;

 9) Satellite Overseas IX is a Cayman Islands exempted company;

 10) Satellite Asset Management is a Delaware limited partnership;

 11) Satellite Fund Management is a Delaware limited liability company; and

 12) Satellite Advisors is a Delaware limited liability company.


Item 2(d). TITLE OF CLASS OF SECURITIES:

 Common Stock, $0.001 par value per share (the "Shares").

Item 2(e). CUSIP NUMBER:

 47759H106

Item 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b) or
 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:

 (a) [ ] Broker or dealer registered under Section 15 of the
 Act,

 (b) [ ] Bank as defined in Section 3(a)(6) of the Act,

 (c) [ ] Insurance Company as defined in Section 3(a)(19) of
 the Act,

CUSIP No. 47759H106 13G Page 15 of 27 Pages

____________________________________________________________________________



 (d) [ ] Investment Company registered under Section 8 of the
 Investment Company Act of 1940,

 (e) [X] Investment Adviser in accordance with Rule
 13d-1(b)(1)(ii)(E),

 (f) [ ] Employee Benefit Plan or Endowment Fund in accordance
 with 13d-1(b)(1)(ii)(F),

 (g) [ ] Parent Holding Company or control person in accordance
 with Rule 13d-1(b)(1)(ii)(G),

 (h) [ ] Savings Association as defined in Section 3(b) of the
 Federal Deposit Insurance Act,

 (i) [ ] Church Plan that is excluded from the definition of an
 investment company under Section 3(c)(14) of the
 Investment Company Act of 1940,

 (j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

If this statement is filed pursuant to 13d-1(c), check this box: []

CUSIP No. 47759H106 13G Page 16 of 27 Pages

____________________________________________________________________________

Item 4. OWNERSHIP.

 The percentages used herein and in the rest of Item 4 are calculated
based upon the 16,516,667 shares of Common Stock issued and outstanding
as of November 14, 2007, as described in the Issuer's Form 10-Q for the quarter
ended September 30, 2007, filed on November 14, 2007.





 Satellite Fund II, L.P.
 --------------------------
 (a) Amount beneficially owned: 19,521

 (b) Percent of class: 0.12%

 (c) Number of shares as to which the person has:

 (i) Sole power to vote or direct the vote 0
 (ii) Shared power to vote or to direct the vote 19,521
 (iii) Sole power to dispose or to direct the
 disposition of 0
 (iv) Shared power to dispose or to direct the
 disposition of 19,521


 Satellite Fund IV, L.P.
 ------------------------------
 (a) Amount beneficially owned: 3,538

 (b) Percent of class: 0.02%

 (c) Number of shares as to which the person has:

 (i) Sole power to vote or direct the vote 0
 (ii) Shared power to vote or to direct the vote 3,538
 (iii) Sole power to dispose or to direct the
 disposition of 0
 (iv) Shared power to dispose or to direct the
 disposition of 3,538

CUSIP No. 47759H106 13G Page 17 of 27 Pages

____________________________________________________________________________



 Satellite Overseas Fund, Ltd.
 ------------------------------
 (a) Amount beneficially owned: 50,131

 (b) Percent of class: 0.30%

 (c) Number of shares as to which the person has:

 (i) Sole power to vote or direct the vote 0
 (ii) Shared power to vote or to direct the vote 50,131
 (iii) Sole power to dispose or to direct the
 disposition of 0
 (iv) Shared power to dispose or to direct the
 disposition of 50,131


 The Apogee Fund, Ltd.
 ------------------------------
 (a) Amount beneficially owned: 8,560

 (b) Percent of class: 0.05%

 (c) Number of shares as to which the person has:

 (i) Sole power to vote or direct the vote 0
 (ii) Shared power to vote or to direct the vote 8,560
 (iii) Sole power to dispose or to direct the
 disposition of 0
 (iv) Shared power to dispose or to direct the
 disposition of 8,560


 Satellite Overseas Fund V, Ltd.
 ------------------------------
 (a) Amount beneficially owned: 3,779

 (b) Percent of class: 0.02%

 (c) Number of shares as to which the person has:

 (i) Sole power to vote or direct the vote 0
 (ii) Shared power to vote or to direct the vote 3,779
 (iii) Sole power to dispose or to direct the
 disposition of 0
 (iv) Shared power to dispose or to direct the
 disposition of 3,779

CUSIP No. 47759H106 13G Page 18 of 27 Pages

____________________________________________________________________________





 Satellite Overseas Fund VI, Ltd.
 ------------------------------
 (a) Amount beneficially owned: 1,282

 (b) Percent of class: 0.01%

 (c) Number of shares as to which the person has:

 (i) Sole power to vote or direct the vote 0
 (ii) Shared power to vote or to direct the vote 1,282
 (iii) Sole power to dispose or to direct the
 disposition of 0
 (iv) Shared power to dispose or to direct the
 disposition of 1,282



 Satellite Overseas Fund VII, Ltd.
 ------------------------------
 (a) Amount beneficially owned: 3,004

 (b) Percent of class: 0.02%

 (c) Number of shares as to which the person has:

 (i) Sole power to vote or direct the vote 0
 (ii) Shared power to vote or to direct the vote 3,004
 (iii) Sole power to dispose or to direct the
 disposition of 0
 (iv) Shared power to dispose or to direct the
 disposition of 3,004




 Satellite Overseas Fund VIII, Ltd.
 ------------------------------
 (a) Amount beneficially owned: 3,852

 (b) Percent of class: 0.02%

 (c) Number of shares as to which the person has:

 (i) Sole power to vote or direct the vote 0
 (ii) Shared power to vote or to direct the vote 3,852
 (iii) Sole power to dispose or to direct the
 disposition of 0
 (iv) Shared power to dispose or to direct the
 disposition of 3,852

CUSIP No. 47759H106 13G Page 19 of 27 Pages

____________________________________________________________________________



 Satellite Overseas Fund IX, Ltd.
 ------------------------------
 (a) Amount beneficially owned: 4,183

 (b) Percent of class: 0.03%

 (c) Number of shares as to which the person has:

 (i) Sole power to vote or direct the vote 0
 (ii) Shared power to vote or to direct the vote 4,183
 (iii) Sole power to dispose or to direct the
 disposition of 0
 (iv) Shared power to dispose or to direct the
 disposition of 4,183





 Satellite Asset Management, L.P.
 ---------------------------------
 (a) Amount beneficially owned: 97,850

 (b) Percent of class: 0.59%

 (c) Number of shares as to which the person has:

 (i) Sole power to vote or direct the vote 0
 (ii) Shared power to vote or to direct the vote 97,850
 (iii) Sole power to dispose or to direct the
 disposition of 0
 (iv) Shared power to dispose or to direct the
 disposition of 97,850

CUSIP No. 47759H106 13G Page 20 of 27 Pages

____________________________________________________________________________




 Satellite Fund Management LLC
 --------------------------
 (a) Amount beneficially owned: 97,850

 (b) Percent of class: 0.59%

 (c) Number of shares as to which the person has:

 (i) Sole power to vote or direct the vote 0
 (ii) Shared power to vote or to direct the vote 97,850
 (iii) Sole power to dispose or to direct the
 disposition of 0
 (iv) Shared power to dispose or to direct the
 disposition of 97,850


 Satellite Advisors, L.L.C.
 --------------------------
 (a) Amount beneficially owned: 23,059

 (b) Percent of class: 0.14%

 (c) Number of shares as to which the person has:

 (i) Sole power to vote or direct the vote 0
 (ii) Shared power to vote or to direct the vote 23,059
 (iii) Sole power to dispose or to direct the
 disposition of 0
 (iv) Shared power to dispose or to direct the
 disposition of 23,059



 Satellite Asset Management, Satellite Fund Management and
Satellite Advisors expressly declare that this filing shall not be construed
as an admission that each is, for the purposes of sections 13(d) or 13(g)
of the Act, the beneficial owner of any securities covered by this filing.

CUSIP No. 47759H106 13G Page 21 of 27 Pages

____________________________________________________________________________



Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.

 IF THIS STATEMENT IS BEING FILED TO REPORT THE FACT THAT
 AS OF THE DATE HEREOF THE REPORTING PERSON HAS CEASED TO BE
 THE BENEFICIAL OWNER OF MORE THAN 5% OF THE CLASS OF SECURITIES,
 CHECK THE FOLLOWING [X]

Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

 Satellite Asset Management and Satellite Fund Management have the power
to direct the receipt of dividends from, or proceeds from the sale of, the
securities held for the accounts of the Satellite Funds.


Item 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
 ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT
 HOLDING COMPANY.

 This Item 7 is not applicable.


Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.

 This Item 8 is not applicable.


Item 9. NOTICE OF DISSOLUTION OF GROUP.

 This Item 9 is not applicable.


Item 10. CERTIFICATION.

 Each of the Reporting Persons hereby makes the following certification:

 By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control
of the issuer of the securities and were not acquired and are not held in
connection with oras a participant in any transaction having that
purpose or effect.

CUSIP No. 47759H106 13G Page 22 of 27 Pages

____________________________________________________________________________


 SIGNATURES

After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement
is true, complete and correct.





DATED: February 13, 2008 SATELLITE FUND II, L.P.

 By: Satellite Advisors, L.L.C.,
 as General Partner

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: Attorney-in-Fact


DATED: February 13, 2008 SATELLITE FUND IV, L.P.

 By: Satellite Advisors, L.L.C.,
 as General Partner

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: Attorney-in-Fact


DATED: February 13, 2008 SATELLITE OVERSEAS FUND, LTD.

 By: Satellite Asset Management L.P.,
 as Investment Manager

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: General Counsel

CUSIP No. 47759H106 13G Page 23 of 27 Pages

____________________________________________________________________________




DATED: February 13, 2008 THE APOGEE FUND, LTD.

 By: Satellite Asset Management L.P.,
 as Investment Manager

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: General Counsel


DATED: February 13, 2008 SATELLITE OVERSEAS FUND V, LTD.

 By: Satellite Asset Management L.P.,
 as Investment Manager

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: General Counsel


DATED: February 13, 2008 SATELLITE OVERSEAS FUND VI, LTD.

 By: Satellite Asset Management L.P.,
 as Investment Manager

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: General Counsel


DATED: February 13, 2008 SATELLITE OVERSEAS FUND VII, LTD.

 By: Satellite Asset Management L.P.,
 as Investment Manager

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: General Counsel



DATED: February 13, 2008 SATELLITE OVERSEAS FUND VIII, LTD.

 By: Satellite Asset Management L.P.,
 as Investment Manager

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: General Counsel

CUSIP No. 47759H106 13G Page 24 of 27 Pages

____________________________________________________________________________


DATED: February 13, 2008 SATELLITE OVERSEAS FUND IX, LTD.
 By: Satellite Asset Management L.P.,
 as Investment Manager

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: General Counsel



DATED: February 13, 2008 SATELLITE ASSET MANAGEMENT, L.P.


 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: General Counsel


DATED: February 13, 2008 SATELLITE FUND MANAGEMENT LLC

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: Attorney-in-Fact


DATED: February 13, 2008 SATELLITE ADVISORS, L.L.C.

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: Attorney-in-Fact

CUSIP No. 47759H106 13G Page 25 of 27 Pages

____________________________________________________________________________

 EXHIBIT A

 JOINT FILING AGREEMENT


 The undersigned hereby agree that this statement on Schedule 13G
with respect to the Common Stock of JK Acquisition Corp., dated as of
February 13, 2008, is, and any amendments thereto (including amendments on
Schedule 13G) signed by each of the undersigned shall be, filed on behalf
of each of us pursuant to and in accordance with the provisions of Rule 13d-1(k)
under the Securities Exchange Act of 1934.





DATED: February 13, 2008 SATELLITE FUND II, L.P.

 By: Satellite Advisors, L.L.C.,
 as General Partner

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: Attorney-in-Fact


DATED: February 13, 2008 SATELLITE FUND IV, L.P.

 By: Satellite Advisors, L.L.C.,
 as General Partner

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: Attorney-in-Fact


DATED: February 13, 2008 SATELLITE OVERSEAS FUND, LTD.

 By: Satellite Asset Management L.P.,
 as Investment Manager

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: General Counsel

CUSIP No. 47759H106 13G Page 26 of 27 Pages

____________________________________________________________________________



DATED: February 13, 2008 THE APOGEE FUND, LTD.

 By: Satellite Asset Management L.P.,
 as Investment Manager

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: General Counsel


DATED: February 13, 2008 SATELLITE OVERSEAS FUND V, LTD.

 By: Satellite Asset Management L.P.,
 as Investment Manager

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: General Counsel


DATED: February 13, 2008 SATELLITE OVERSEAS FUND VI, LTD.

 By: Satellite Asset Management L.P.,
 as Investment Manager

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: General Counsel

DATED: February 13, 2008 SATELLITE OVERSEAS FUND VII, LTD.

 By: Satellite Asset Management L.P.,
 as Investment Manager

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: General Counsel



DATED: February 13, 2008 SATELLITE OVERSEAS FUND VIII, LTD.

 By: Satellite Asset Management L.P.,
 as Investment Manager

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: General Counsel

CUSIP No. 47759H106 13G Page 27 of 27 Pages

____________________________________________________________________________




DATED: February 13, 2008 SATELLITE OVERSEAS FUND IX, LTD.

 By: Satellite Asset Management L.P.,
 as Investment Manager

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: General Counsel



DATED: February 13, 2008 SATELLITE ASSET MANAGEMENT, L.P.


 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: General Counsel


DATED: February 13, 2008 SATELLITE FUND MANAGEMENT LLC

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: Attorney-in-Fact


DATED: February 13, 2008 SATELLITE ADVISORS, L.L.C.

 By: /s/ Simon Raykher
 ------------------------
 Name: Simon Raykher
 Title: Attorney-in-Fact