As you see in the video above Pod2g is showing a demo of his iPad 3 jailbroken and untethered on iOS 5.1. This is good news for everyone on iOS 5.1, if it gets released. But now iOS 5.1.1 is out. As of now I'm not sure what his plans are to release the next jailbreak but I will keep you updated. In case you missed it, check out my last video talking about the latest news with the Jailbreaks - http://bit.ly/K12p1L
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