Bourque Industries Inc (BORK)

[truetrue]

DUE DILIGENCE: Note 15 from 3rd Quarter Report:

"Provision for Contingent Expenses of $1,000,000

As more fully described in Notes 3 and 9, the Company has embarked on a financial review of past activities. As of the filing of these financial statements the review process is ongoing
and not yet complete.

Management has determined it appropriate to record a reserve for contingent liabilities, based on the initial review to date.

Therefore, as of April 15, 2013 the Company has elected
to record a reserve for contingent liabilities in the financial statements as of February 28, 2013 of $1,000,000, to account for the Company’s potential liability for various unknown or
unsubstantiated claims which may or may not be filed against the Company, and if filed, in which the Company might not prevail."

***So - The affirmative judgement for the former employees / plaintiffs, in the last few days, will be addressed under the terms of the contingency allowance....

IMO - there are MANY such agreements that JB "signed off" to that will be dealt with by his attorney (I presume) and the NEW BodD and CEO.

Read up on the history since the BoD came on for an education on the problems JB left them to manage.