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I don't know either of them personally. All I know is what I have read about Robert Rieger. He was the COO and member of the BoD
for M Cubed Technologies for almost 5 years from 2007-2011. And during his tenure there, M Cubed was awarded military contracts with the Army, Navy and Marines. And also during that period
M Cubed was given a special award for their work by the Army.
In Oct. of 2010 M Cubed was awarded a contr5act to develope light weight armor for the Marine Corp.
The award they were given by the US Army was for work exceptional work performed by small businesses.
So, ya, it appears as if Robert Rieger may be uniquely to
lead a company such as Borque Industries. I believe he lives in the Tucson area and has some professional affiliations with a
well known University in that area.
All I know about Sean Floyd is primarily what he has posted here on this board which is mostly fluff and being very deceptive and misleading at best. He may have a place in sales or marketing
because if you are not a little letcherous you will never be very good at sales.
merthyrQ says he/she knows he can make Kryron because he let him/her hold a piece that he made. However she did not say he/she watched him make it. MerthyrQ seems very articulate and I don't want to discredit MerthyrQ in any way, but after all that has happened over the last couple years, I will remain very skeptical.
I have to agree with you on most of what you said here, except for cutting JB out of the deal with Kryron.
In order to get klryron away from BORK with us stockholders
retaining our investment ... I would speculate that JB would have to be bought out so he could not block any sales or large transfers of stock to another entity. Especially with his personal attorney still in the middle of things.
But I'd like to see Kryron transfered to an entity that we as
stockholders have our interest secured and like you say ...
rid Kryron of the stink of JB and all the baggage. And if they can validate the patent and if not valid, duplicate it and apply for a new patent, I might even be willing to put some more money into Kryron.
The problem is how to do it without getting into a long protracted
legal battle with JB. If someone here knows someone with the expertise to legally do this ... I'm all ears.
There is such a person who could take the reins. And that would be Robert Rieger, who has been referred to by some on this board as the "mad scientist". However, he is not a mad scientist,
rather he is an experienced executive with a proven record and
industry experience in the armor industry. Only problem is I don't know if he would accept a leadership position with BORK if offered.
And as far as Safer and JB with JB directing Safer to do certain things ... even if prohibited by law ... happens every time Safer visits JB in planning for his appeal of his DUI conviction. Prison officials have no way of knowing what transpires between the attorney & client. That is unless someone can show probable cause and can get a court order to record their conversations.
My opinion as to why JB would blow up potential deals and testing with folks like Pratt & Whitney is simple. I believe that JB provided bogus info for his patent application so no one could ever duplicate his Kryron and scientific testing would very quickly prove it impossible to create Kryron with the info filed with his patent. So, the real Kryron that only he knows how to make would remain his ... for ever.
That's why only "dog and pony" shows and demos and never any joint testing with any credible research universities or R & D
departments of major corporations that would want buy Kryron.
So, he has to keep his horse in the barn or his patent would be proven invalid and with the whole thing a scam and then he would really have nothing.
Why do you think he sabatiged the testing with Pratt & whitney by providing defective material for them to test????? That is because the research folks at Pratt & Whitney would soon find out
the Kryron material they were testing with is not even close to
same material covered by his patent.
Thus, I believe this has been a scam from the get go. So sad so
many have lost so much in this.
Possible new CEO. Here we have a person, who some on this board have referred to as "the mad scientist" who has agreed to do work for BORK that has the perfect background, experience and proven leadership skills that are sorely needed at BORK. This would be Robert Rieger former COO and member of the BoD for "M Cubed"
which is a company with a successful history of selling armor to the US Military and lots of it. Only question I have is ...
with the sordid history of BORK would he accept if offered.
Just saying folks ... could be the magic bullet BORK needs to
get BORK out of the "Losers Lounge"
Mute ... D.Dawn has a good question.
What ever happened to all that very expensive equipment BORK had at the Drexel location? It was all almost new with very little
use and probablly could have been fire saled to someone for more money than Schizzler got on the initial (and maybe final)
funding from Ironridge.
But then that fire sale would have required some effort with Schizzler not getting paid a kick-back from the buyer.
First thing they need to do if they are going to survive is validate the patent.
Knowing how JB operated it is very likely he left out a step or 2 in the patant info, so no one could ever "steal his baby"
If that is the case BORK is dead.
You said he has got funding for BORK and deserves to get paid for that. He is already getting paid for that. Does that mean that he also deserves to get paid by the entity that is providing the funding. If he is already getting paid for doing that, should the payment from the company providing the funding not flow to the benefit of BORK. And if the payment by the funding company does not flow to Bork and instead flows into Schizzlers pocket ...
then you have a definate conflict of interest.
You also stated he is the only person working to turn BORK
around. That is pure conjecture at this point except for the fact that he has changed BORK to be working out of a rented postal box at a UPS Store ... of course to cut operating expenses.
You also said Schizzler had made some bad decisions or had some bad luck at other companies he drove into the ground and has learned from those experiences and deserves another shot. You are correct in that he has learned from those experiences that he has not been held accountable because there are a lot of people who
will forgive and give him another shot.
So, he has a proven history lining his pockets at the expense of
the stockholders at several companies.
I would have agreed with you if you had said something like ..."I
hope and pray he doesn't do to BORK what he has done to the other companies (and their respective sharteholders)he has headed up.
And by the way ... as CEO of those other companies he attained funding for ... he directed the use of those funds, so it is not
irrelevant to BORK.
I will anxiously be awaiting the next PR as well as the quarterly financials to be posted.
I don't have a problem with the other BoD members ... it is Shizzler I have no trust in. He is CoB because JB put him there
and for a reason.
The first Ironridge deal that JB and Schizzler got BORK into
smelled very bad from the get go and got worse as Ironridge was able to come back and hit Bork for an additional 7-8mil. shares.
The first deal was closer to money laundering than financing debt obligations.
I hope I'm wrong about Schizzler, but my gut tells me otherwise.
There is no evidence or history of Schizzler being CEO of any of the companies that prospered during his tunure.
PULPITO ... here is the link to show where Matthew Schizzler
claimed credit for arranging the Ironridge deal(s). Not once, but twice. And got paid for it both times. Once in 2012 and again in 2013.
http://pyreneesinvestments.com/?page_id=3004
And mostly remember who put him in charge as CEO it was JB himself.
So, BORK is not under new mgt. It is the same as it always has been.
I would speculate that when Matthew Schizzler can not obtain any more money to line his pockets with by issuing himself stock or getting paid for back door deals he will move on and leave another group of "dying in the dark stockholders" in the dust with
nothing but holes in their pockets.
Thanks for helping me find the Pyrenees link. That is Matthew Schizzler's company that is in business to help companies raise capital.
And FYI ... they get paid for doing just that.
So, that is why I ask how much or what type of compensation did Matthew Schizzler or Pyrenees get for the latest deal with
Ironridge.
Is he continuing to line his pockets at our (the Bork stockholders) expense while not performing his fuduciary duty which is a legal obligation.
Yes, I have actually read the info that was posted on one of his websites. I will go back and see if I can locate a link for you.
It was very interesting that he actually listed Bourque Industries
as one of his success stories. Well not neccessarily a success story, but listed Bourque Ind. as a company that he successfully
got financing for. He did not mention it was Ironridge but listed Bourque as one of the companies he has helped in arranging financing.
Hopefully I can find it as it was one of the links provided by Dianedawn. I hope the post I'm looking for has not been deleted.
mute ... why do you continue to defend the indefensible. This Schizzler we have as BORK's CEO has an "iffy" at best track
record as a CEO of several companies. And he got his current "gig" at BORK because of his close relationship with JB.
He has a history of lining his pockets at the expense of the stockholders who he had a fiduciary responsibility to protect.
This is contrary to anything you would want as a CEO of an entity you have invested your hard earned money in.
Only thing he has done since his arrival at BORK is arrange another financing deal with Ironridge. And we all know how the last deal with Ironridge went. He claimed credit for the first Ironridge deal and actually indicated he was paid for it on one of his websites. This new Ironridge financing deal begs the question of what compensation of any kind will he receive from Ironridge for making this new financing arrangement.
So, why the staunch defense of this guy???? I would really like to know as would others on this board.
They don't have any cash because they actually made a statement to that fact when they submitted their last financials.
And yes I have read about the new board members and it is possible that some of these new members of the BoD may put their own personal money into BI in the future. However the FACT that BI had to cut another deal with Ironridge, which will have a dilutive effect on your BI stock if you actually own any BI
stock, proves that the current BoD are not willing to put any of their personal funds into Bork. Having access to money is not the same as putting that money into BORK.
You say you are confident that the current mgt. of BORK wants to
start selling Kryron ASAP. Well I want that, most everyone on this board wants that. NEWS FLASH ... selling a product or
service is the desire and goal for every company that is in business. Unfortunately BORK BORK is not in the position nor
does it have the capability to do any business or sell anything.
As far as the Port of Seattle Police ... they got stiffed by not getting what they paid for. Then they got lied to when BORK indicated that they had shipped the plate that was damages or
lost in shipment. Then BORK told them they were going to ship them a new improved version of the missing plate if they would be willing to wait a little bit. Now they have been waiting a long time with no evidence that would even suggest they will ever get that missing plate. So, now you have who ever recommended buying plates from BORK getting a lot of heat for making the decision
to buy from BORK. Not likely that person or department will ever think about doing any business with BORK again as it has left
a bad taste in thier mouth.
If you were in charge like you say ... it would be impossible for you to send them extra armor to smooth things over because you would have no capacity to even produce any armor of any kind ...
unless you had access to a lot of money and were willing to spend it to hire people, buy materials, pay the rent, pay deposits to get the lights and utilities turned on and then pay to have the armor shipped. And then you could "only hope" things would be
smoothed over.
And the UPS store thing for many companies in a similar situation as BORK is today, is truely transitory. It is the transitional step from struggling to stay alive to bankruptcy.
So, you are correct on some things in your post. But most is pure speculation and conjecture along with an over-abundance of wishful thinking and believing in the tooth fairy. You can continue to hope and believe ... but until someone actually does something that actually benefits the stockholders I will remain highly skeptical especially about the new leader, Mattew Schizzler
who is by "John II's description ... JB's good old friend.
Mute, you have a good day and keep on keeping on my friend.
Mute ... All you need to do is look at the last qtr. financials
that BORK furnished and you will not see any cash anywhere in the amount of $1,000,000. They set up the contingency but didn't have the CASH to fund the account. The only cash BORK has is what ever is remaining from the $50,000 they got from Ironridge about a month ago.
And it is correct that they have more lawsuits filed against them than they have in sales as far as the number of lawsuits vs the number of sales. That is unless Schizzler managed to fire sale some of the equipment from the Drexel location.
And as far as sales ... have they furnished the Port of Seattle Police Dept the Kryron vest that was lost or damaged in shipment.
Sure is a long time for those guys to have to wait on a vest that has already been paid for. But it is what should be expected from a company that has no employees, nor the materials or the know how to make one.
So, maybe the Seattle Port Police will also file suit.
Just really sad to think you can have any market presence when
you are working from a rented postal box in a UPS Store
If BORK is a house of cards. And I say "if" ... then maybe it is time to "chunck the duece".
It was time to "chunck the duece" a week after I bought into
BORK, but was persuaded by all the longs to hold. That's what happens when you listen to people who have done their DD.
Hey locks ... it's not complicated. All you have to do is google the address.
They don't have any money to pay rent. They don't have any money to pay employees to be there to receive the mail. And they really don't want to have a physical address where people can come to see what is not going on.
So, basically at this point and time BORK is nothing but a shadaow
company ... no employees, no office, no manufacturing capacity,
no sales ... no nothing. Kinda hard to pump that picture ... Huh.
Yup ... you are correct.
Their new address is at the UPS store in the Bel Air
Plaza Shopping Center at the corner of Swan Rd. and E.
Sunrise. Wonder what the status of the place on Drexel is.
Maybe it was inconvenient to go all the way over there to pick up the mail ... LOL.
If they are not going to use that place any more you would think they would have at least tried to sell some of that expensive
equipment BORK had in the Drexel location. They probablly would have only gotten maybe 10 cents on the dollar for the equipment
... but then that is a whole lot when you don't have any money.
got milk ... oops I had a transpo, but still who would be willing to put an additional $48,000 into BORK. Especially these days with an uncertain economy.
gotmilk ... that's a good idea, but many of us are not willing to put that much more into BORK. Here is an example.
Originally bought 10,000 shares at $3.50 per share ... $35,000
Averaged down buying an additional 20,000 shares to where your average cost per share is $1.20. So, now you have this:
Number of shares...Cost per Share....Total Investment
.........30,000...........$1.20............$36,000......
Add...1,600,000...........03............$84,000......
________________________________________________________
Total 1,630,000...... .0515..........$120,000......
Don't know if many here would be willing to take their total investment in BORK to date and add 230% more into BORK. That's
like putting more pipe down a dry hole. At least not me.
Wait a minute here people.
If you think or if Kryron is a significant product (meaning
it is an important product) then by selling just one of the
vests, then they have sold a significant product.
But that does not mean BORK has significant sales of any Kryron product.
You can correctly say BORK sell it's significant product and generate any significant revenue.
BORK sales would be more significant if they (BoD and employees,
if any exist) got together once every 2 weeks in Tuscon and had a bake sale. Then they could give the homeless any left over cookies, if they were edible.
Does anyone know if the Port of Seattle Police Dept. has ever received the Kryron vest that was missing from the original shipment ????????????
If not, then it brings into question as to whether BORK can
produce anything.
Also has the new scientist Bob Rieger been able to validate the Kryron Patent. He's been there a month now and you would think that should be his first order of business.
Too many questions begging for answers ... makes one wonder.
mdrts ... you know you may be right. I have thought for a long
time that the patent data and info JB submitted may have left out a few things. Probablly because he was always afraid to let his "baby out of the barn" so to speak, knowing that if he put up all the correct data it would be easy for someone to streal his
"baby" and he would have a hard time raising the funds needed to protect his intellectual property in an expensive legal battle.
So why noy leave a few things out and keep his "secret sauce"
formula to himself. If this is proven scientifically ... then
his patant is bogus and not worth a pile of beans.
This is the first thing the new BOD should have done ...
validate the patent. Wonder if that is on their "things to do" list.
Killion ... Growing pains?????? The only thing growing at BI is the number of outstanding shares of stock. Equals dilition.
Grump ... Speculating on the positive side is what has cost
me 98% of my investment. So, no, I'll pass on the positive speculation. That's pure conjecture!!!
Grump ... like I said ..."Let's speculate here"
Like I said Grump ... "If he actually sold"
Jb filed a form 144 about the 1st of April also for approx. the same number of shares.
If he actually sold those, it looks like he has a burn rate of about $35,000.00 to $40,000.00 per month.
Nice to have that kind of income when you are in the can. Or,
and lets speculate here, he may be trying to monetize his stock
a little bit at a time and put it into friendly hands.
Or, just maybe he has a lifestyle for family he needs to maintain.
And if that is the case the family is used to the "high life". But that is non of our business of course ... as stockholders.
You know, maybe Schizzler will take some legal action and try to freeze the proceeds of the sale of the 3.8 mil. shares to repay BI for JB giving away the Eloy property and not repaying the debt. Now that would really make me think Schizzler is acting in the best interests of the stockholders. Would be a cold day in Hell if that happened ...LOL
I read the I-box but still had a question about the details which was cleared up by a response to my post.
Maybe I missed something here.
Ironridge purchased $50,000 worth of Preferred stock. How many shares of preferred stock did they get??????? It states the preferred can be converted to common at .04/share after 6 months.
But how many shares did Ironridge get for the first $50,000????
Anyone know????????
No Alvie, this is what the court said
The Court and the defendant confer regarding the defendant’s current status as stated on the record.
The Court indicates that the defendant will be allowed to have a person of his choosing assist him at the table
Dt0120 ... thanks for posting the link to the court record of JB's DUI trial.
The court record completely contradicts and refutes any comments as to JB being denied legal counsel during his DUI trail.
FYI ... go back and read post #17098 by Bigdog/1 and you will see
the post was a big fat lie.
So ... we've been lied to, cheated and treated like dirt and there is no evidence that the new leadership is doing anything different.
I'm still wondering ... who paid the phone bill???
Any one have any info as to who paid the phone bill? And has any one driven by there to see if the equipment is still in the building or has the landlord confiscated it to compensate for unpaid back rent.
Have any of the employees that got stiffed out of their pay ...
gotten paid?
It was reported by the news media that someone had secured a judgement against BI. Anyone have any info as to who was it that secured a judgement and how much was it for?
Answers to these questions as well as the "full text" of the lock-out agreement could give us a clue as to what this BoD may do in the not too distant future.
Very shortly someone is going to have to put some cash into this company ... whether it be loans from members of the BOD or their personal guarantee for a commercial loan or (and I hope not)
capitalization via an issuance of stock following a reverse split.
Not many options as the phones are still out and the landlord has a right to confiscate equipment to pay for unpaid rent. Then add to this the bad press surrounding the issue of employees not getting paid.
Those issues are not going away and will only fester.
mikeg2 well how about : lied to, cheated and treated like dirt.
I've been saying that for a long time
WOW ... BORK was up to 3.5 cents/share an hour ago ... and now it has dropped back to 2.25 cents/share.
Day traders are in the play ... i guess.
Wintermute ... you were totally correct.
Only the people he spoke with were the Southwest Airlines folks when he made his flight reservations to leave Tuscon.
Take that as conjecture. What is his message? Has he moved back to Georgia, Florida, N. Carolina or where ever he was from?
Well that may be a true statement as he may have called a family member or anyone else for that matter. So, I'm sure he has spoken with someone.
His silence as a spokes person for BI just breeds speculation.
Especially at a time as this.
You are right ... with Schissler sitting at the head of the
table, there is no way out of this mess.
You might think Sean "is the right guy", but how can he be the right guy when no one can even find him or talk to him. Can't call him on the phone because the phones have been disconnected
and he doesn't show up for work at the office anymore.
Any one know where he lives? If so maybe you could drive by and see if he is still living there?