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Agreed. No "physical evidence"....YET !!
The agrieved employees filed against JB and BI before the new CEO and BoD came on board, as they should have.
JB is liable for: Not paying employees (including the new CEO), taking out "loans" against the company, borrowing money against a near worthless Eloy property, etc. etc. etc. = leading to "possibly all sorts of criminal activity" ...
AGREED !
Possibly......by John Bourque.
Not the new BoD and CEO, agreed ?
Hell yeah Sean and the BoD needs more time...No one IN THEIR RIGHT MIND would hold Sean or the BoD accountable for anything JB did !!
FACT: Three weeks and counting for them to turn around a promising company with a great product from a debt that JB took 2 years to trash ??
Let's ask and see what the task forces say about all this.
Hi Mr. "AL" - Please read the following out loud -
Bourques' 3rd Quarter Report:
"Provision for Contingent Expenses of $1,000,000
... 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,....
***FACT: The employees will get paid back.
The court FIXED an INJUSTICE that is JB's own doing - not yours or mine or the new BoD or anyone elses' but JB's responsibility.
I ACTUALLY READ THE "KVOA" STORY!! The plaintiffs even say as much !!
Quote: "He (JB) recruited all of us personally. So, we were all hand-picked for the positions we were given. So, yeah, I'm a little angry with him...he let us down."
"I'm angry, and hurt, because he's been a friend for so long. I mean, that's how I met him - a friendship, over ten years ago. so, I'm pretty disappointed about that." adds Shanna Godoy.
***If JB's willing to dump on his friends of TEN YEARS then he had no problem dumping on anonymous SHAREHOLDERS - agreed ?
DUE DILIGENCE: Sean Floyd is NOT the problem for SHAREHOLDERS and BORK progress.
Most think Sean and the BoD are really trying hard.
Who can PROVE otherwise ?
FACT: NOONE !!
Personally, I'm not the type of person to take baseless pot shots at his renewed efforts to help ACTUAL BORK SAHAREHOLDERS.
Remember - The BoD and task forces were formed 4/12/13 - not EVEN FOUR WEEKS AGO.
Sean is endeavoring to be part of the SOLUTION.
I recommend that we give the new Board of Directors and Sean a couple more months (perhaps less time is needed) to show progress on issues like funding, allotment of shares /$$$, resolving past obligations (like employees not being paid) and 3rd party testing.
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.
DUE DILIGENCE: TV report is OLD NEWS TO ACTUAL SHAREHOLDERS - THANKS to the NEW Board of Directors and Sean Floyd for taking the lid off JB's can of worms.
This is JB'S MESS and not the new BoD's and Sean's.
Noone is happy about what happened to these employees. Back pay and obligations(on and off the books)are one of the TASK FORCE responsibilities.
FULL disclosure and taking out the garbage so Shareholders KNOW what JB did to the PPS and CASH he raised was my FIRST REQUEST to start FRESH.
DUE DILIGENCE: ALL issues POSTED here are under REVIEW by the NEW BoD and CEO - READ the PRESS RELEASE and it clearly states so:
BORK PR from 4/12/13:
http://ih.advfn.com/p.php?pid=nmona&article=57143646
Also the 3rd “Q” report PROVES they are paying attention to the "Clean up" of the PAST and PROGRESS for the FUTURE !!
This is the BEST NEWS AND STATEMENT OF FAITH EVER about BORK’s Future Strength and New and Improved Leadership working for the ACTUAL SHAREHOLDERS !!
PAST: As evidenced in today's Eloy property auction. BoD an CEO will litigate, negotiate, arbitrate, or confiscate but do it Under the Law. As much as I might want it to, I KNOW it’s not gonna happen overnight.
FUTURE: A "Full Audit", a 6 mo. process re-initiated by the NEW BoD by an OUTSIDE, non-affiliated CPA group to Remove DTC Chill, get SEC compliance and Fully Reporting status, NEW financing stepping in soon IMO, NEW and improved armor products spelled ou in the PR to submit for NEW “NIJ-06” Ballistic Armor approval, "BIW,LLC" rep group to develop NEW markets and NEW license agreements and NEW royalty payments achieved and received.
http://www.otcmarkets.com/financialReportViewer?symbol=BORK&id=102905
"SYR" - I concur with your take on the Eloy property that sold at auction for $34K today and water rights history....
FACT: Yes they can be obtained or no one in Pinal county would have flushable toilets.
FACT: No matter how connected you are rights are difficult to obtain.
FACT: The water rights under 9093 E Cornman Rd, Eloy, AZ have no impact on the abilty to license or sell products containing Kryron or CNT.
Making KRYRON and marketing KRYRON is what we are here for !
DUE DILIGENCE:Sean Floyd President and Interim CEO (and others) are making KRYRON plates = FACT
Sean can not make KRYRON plates = NOT FACT
SEE link AND Excerpt below:
http://bourqueindustries.com/
Yes, we ARE making KRYRON!
"Some have wondered if the Founder and Chief Scientist has kept the secret. The answer is NO, we are making Kryron products everyday."
FACTs are better than NOT FACTS everyday.
"kb" - That is pure speculation and "worst case scenario". The only FACT is the deed was signed over for $10.00 and the property sold for $34 K.
Well below the $670K loan JB still owes shareholders.
"Full Circle Trust" has a note payable to BI. They defaulted on the mortgage payback.
e.g. If I lose my house to foreclosure, I'm still in debt to the mortage lender.
So - Let's get the money back from JB ASAP, one way or the other.
****ALL the background negotiations w/ the BoD, Safer, JB , Sean is unknown. I want to hear the final details soon.
The BoD can not advise Sean to sign anything that would not help the SHAREHOLDERS.
Per my prior post:
Speculation: The property was part of the GPGI / BORK merger valuation for Twiford's payout and I'll "bet" it was valued high to start with...no proper estimation or basis in reality, only JB's and Twiford's balloon figure.
That seems to be true in light of the foreclosure sale price, agreed ?
"Something has to going on behind the scenes IMO."
If not - then the SHAREHOLDERS are left holding the bag aka "we got screwed"...I'm SERIOUSLY pulling for a sensible deal amongst all the parties so we can move forward...
"Something has to going on behind the scenes IMO."
"kbb" - EXCELLENT POINT ! Complete agreement. THAT is the MAIN POINT, thank you !!!
JB owes shareholders for his "Full Circle" loan. Clearing that title of historic ties to BI's books so it can be disposed of in foreclosure auction DOES NOT CLEAR THE DEBT OBLIGATION by JB to us.
We don't want the Eloy "property" and probably never did....we want our LOAN money from JB.
Speculation: The property was part of the GPGI / BORK merger valuation for Twiford's payout and I'll "bet" it was valued high to start with...no proper estimation or basis in reality, only JB's and Twiford's balloon figure.
That "looseness" is part of the "PINK sheet" stock weakness.
Question: What did / does BI get out of that "Quit Deed" deal - there HAS to be more than the $10.00 fee that shareholders don't know about ....yet. Right ?
Otherwise, it would make no sense. Something has to going on behind the scenes IMO.
*** SHAREHOLDERS want an update / explanation at some point of the BoD reasoning. Maybe in the "FY" report or in an intermediate PR ?
When, How and What will the BoD and CEO do about recovering the $600K loan /debt from JB ?
Is J. Safer involved ? JB is his client after all.
It's one of the questions on my PROGRESS CHECK LIST out tomorrow.
Signature dates, notary dates, title paperwork - all pales in comparison to getting our $$$ back so we can use it to fund operations.
****In a way - if JB is "persuaded" to pay it back out of "Full Circle" or whatever, he'll be doing HIMSELF a HUGE favor by helping to assure the company forward progress.
If BI can get back on track for production, R & D and close contracts he'll prosper too.
"kbb" - You may be surprised, but I'm in agreement with the jist of a lot of your concerns in your 2 recent posts! I'd like some BI Press Release complete answers (within legal limits), but I don't think they are forthcoming "soon". It's too soon.
I look at the calendar and I see that today is 15 business days since the "Task Forces" were announced. That is too soon for a comprehensive review of progress IMO.
So, I'm going to use supposition and speculation for a few responses and can research and refer to the record of facts for other answers for you /me.
Let's start with the FACT that you're an ACTUAL SHAREHOLDER (as am I) and we BOTH want the company to succeed so we and our families can prosper.
Sadly, in some cases others just hope to get back to even around $2.50 +/- avg PPS.
I'm busy for now, but I'll make you a promise:
*** I'll get to this today and post my interpretations of your / my concerns in a couple hours.
hmmm. Reasonable question. Let's try to find out.
If you / I do find out and we post it here or there is a definitive PR about that (and more) will that satisfy you until the next "Q" report when there will be solid comparison info ?
If not - then why should I bother trying ?
DUE DILIGENCE: FACT: The NEW BORK Board of Directors has "Hands On" responsibility for ALL aspects of BORK's future business dealings !
BORK's BoD is tackling All of the following duty assignments within ACTUAL SHAREHOLDERS Company i.e. Bourque Industries:
- Internal Audit / External Audit
- Funding
- Marketing & Sales Direction
- New Product Testing
- NIJ06 Compliance Submittal e.g. lighter Level 3 Ballistic Armor Plate
- Research & Development Funding
- Maintenance of Work Environment
- Assemblage of Personnel for Jurisprudential Decisions e.g. property encumbrance with Full Circle Trust
- Execution of Jurisprudential Decisions Identified
- DTC Chill Removal
- SEC Fully Reporting Process
****NOONE would buy BORK STOCK at .04 PPS or .0000 PPS for that matter if they did not believe EVERYTHING I POSTED ABOVE or the Bourque Press Release on March 19, 2013 !!
http://ih.advfn.com/p.php?pid=nmona&article=57143646
"At the request of the Chairman and unanimously approved, the board has established a financial and equity audit task force, a sales contracts task force, and a task force to address previous obligations entered in on behalf of the company.
The financial task force is investigating all banking and equity transactions prior to the constitution of the new board of directors.
The sales contracts task force is reviewing all agreements made on behalf of selling, marketing, licensing and other revenue generating agreements, and deciding if these are in the purview for the forward looking company.
The obligations task force is reviewing all financial obligations on and off the balance sheet that may have or will encumber the Company, and will attempt to resolve any and all outstanding obligations."
"Winter" - Welcome on board ! I hope to have an agreeable list of pros and cons that can be updated as PR's, Contracts closed, testing results published, Letters from the CEO - whatever - are sent out.
I think the I-Box might be a good spot for starters - to get a handle on the deep challenges these men are confronting...and have CHOSEN to CONFRONT.
For BORK Shareholders.
I'll "say" it again: These men and their resumes are outstanding. I think it's the best board a .04 cent PPS stock could ever have.
I want to believe their motives are pure and their aim is true. Long time SHAREHOLDERS want to see the promise of KRYRON realized.
Success is not a given. But I'm counting on them giving 210% effort.
"Rij" - True. That is an issue and it irritates me. I sent an email to ask WHY it's not taken care of...New mgmnt. SHOULD be held to a higher standard.
I'm sure you're doing your part and I think it's good to hold them accountable. Let's see what transpires next week on that one customer support item. No answers for you yet....
Now - my next suggestion is we make an agreed upon group outline of the 4/12/13 PR stated "promises" and plans.
The disclosures, commendable, are enlightening if somewhat daunting.
MOST IMPORTANTLY: They are 3 weeks into their re-organizational business plans and goals as of tomorrow.
15 business days.
I'm start the outline and run it up the flagpole - of all the relevant plans, task force responsibilities etc.
By the end of next week let's see if we can start to keep the CEO / BoD to a reasonable timetable and check back on the report card every few weeks.
DUE DILIGENCE:FACT: The NEW BoDat BORK has "hands on" responsibility for ALL aspects of BORK's future dealings:
Thank goodness our BoD is "hands on" tackling All of the following duty assignments within ACTUAL SHAREHOLDERS Company i.e. Bourque Industries:
- Internal Audit / External Audit
- Funding
- Marketing & Sales Direction
- New Product Testing
- NIJ06 Compliance Submittal e.g. lighter Level 3 Ballistic Armor Plate
- Research & Development Funding
- Maintenance of Work Environment
- Assemblage of Personnel for Jurisprudential Decisions e.g. property encumbrance with Full Circle Trust
- Execution of Jurisprudential Decisions Identified
- DTC Chill Removal
- SEC Fully Reporting Process
****Noone - I mean NOONE in their RIGHT MIND would buy BORK STOCK at .04 PPS or .0000 PPS for that matter if they did not believe EVERYTHING I POSTED ABOVE or the PR from March 19, 2013 !!
GET IT !!! LOL !!
http://ih.advfn.com/p.php?pid=nmona&article=57143646
"At the request of the Chairman and unanimously approved, the board has established a financial and equity audit task force, a sales contracts task force, and a task force to address previous obligations entered in on behalf of the company.
The financial task force is investigating all banking and equity transactions prior to the constitution of the new board of directors.
The sales contracts task force is reviewing all agreements made on behalf of selling, marketing, licensing and other revenue generating agreements, and deciding if these are in the purview for the forward looking company.
The obligations task force is reviewing all financial obligations on and off the balance sheet that may have or will encumber the Company, and will attempt to resolve any and all outstanding obligations."
GET IT !!! LOL !!
'BJ69" - We agree on almost everything - timeline included - for BORK to show major progress on all fronts. Their PR last month and "Q" report strongly indicates they have a handle on ALL the past, present, future problems.
The task forces are responsible for tackling them.
Therefore, I'll reserve judgement re: the BoD being "All in" or not til the next PR update or Q report.
You and "BTU" truly underestimate the difficulty of overcoming the DTC Chill. It's like fighting a ghost. The articles I copied you are on are a good "primer". It's not just about sales revenues, lease payments, staff salaries and how many shares JB allocated for others or was awarded by the BoD.
All mergers, going back to "GPGI" forward and details of ALL company $$$ deals need complete exposure to the DTC after audit.
THen BORK needs an attorney /firm to review to all the details and if they agree all isabove board, write an opinion letter stating so. They will also be resposible for correspondence with the agency. They WILL be on the line (from both sides) for any errors the SEC /DTC "might" find in their own review.
It's a 5 - 6 month process on average - WIN or LOSE.
Then getting DTC and / or SEC to agree to review and decide thumbs up or down on the audit evidence. The DTC Chill and JB are deal-killers for top notch financing for such a risky bet as BORK now.
Many interested investors and potential customers would have done business with a reasonable businessman. They are still around. They want to see if BI is going to still be around.
Priority numner one is getting resonable funding. Without money BORK won't be and we won't be.
You wrote: "I agree with most everything you say. I also agree with BTU about the time table on the audit compared to a company of 38 yrs. and that of a company of a few yrs. old. I really don't believe auditors will go back 20 yrs as someone else suggested but I may be wrong.
As we can agree on these new BOD members have all the knowledge, resources, and connections needed to make BI. successful I just don't think they are being used. Again that is just my opinion .
As you and many have said before I think Sean is an honest person and knowledgeable enough to run this company if he just had a 1/4 of the BOD's help. I will not give my opinion why the board is not giving their fare share of support if I am correct I'll just wait and see what happens in the next 3 mo.
I am trying to stay positive till the end. Thanks and a good day to everyone.
BJ69"
"BJ69" - Congrats ! Batting 1000% - you have a better average than I do.
No comment on the USA direction...I like Costa Rica too these days.
Seriously: Three months with this team - fully engaged - will tell us if the juice is worth the squeeze.
There is no question Sean is working harder than a one-armed paper hanger and with support staffing his job would be a lot easier.
A little space and time: A few months lease payments, another $25-50K for NIJ testing, some overhead for R & D and he'll have a fighting chance.
Plus a "Power BoD": I hope you're wrong about the BoD not being locked and loaded. If they aren't then there is nothing in it for them. Period.
No rainbow and pot of gold at the end.
No golden ticket.
No satisfaction of a job weell-done.
Those guys have pedigrees up the wazoo - you admit that - you've read all my biographical posts about them - it's in the "Q" report - everyone of them has shown extraordinary ambition and success (and known the sting of failure too) at various times in their lives.
I'm counting on their ambition and successful histories to change the tide.
The product is real. Past mgmnt. under JB and CJ was real too - REAL BAD !!
Read my reply to "bork tube user" and see if it makes sense to you.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=87561689
Roll tide.
"BTU" - Thanks, I see your point. So - Let's delve into this topic publicly, about the DTC Chill and financing, because it's valid and I can absolutely see both sides.
Maybe this will help and then every SHAREHOLDER can make up their own mind.
OUR goal is remove the DTC Chill and become SEC Fully Reporting / compliant / Sarbannes - Oxley etc. = Better access to capital and credibility in the market.
http://www.sec.gov/investor/alerts/dtcfreezes.pdf
1. The task force charged with reviewing All on and "off the books" transactions has their hands full. IMO - JB had MANY off the books deals. BORK also (we shareholders) inherited all the baggage from "GPGI" in terms of debt obligations as well. That disclosure and those eventual disclosures, partially accounted for with the $1,000,000.00 legal contingency fund will probably curl your hair.
2. So - For ONE thing - BORK (aka "GPGI") needs CSI - like forensic accounting. One part - repeat, ONE PART - of the DTC Chill removal will require documenting all share trades, BAM Certs, restricted offerings, etc. etc. and PPS......EVER.
For two years.
Minimum.
Maybe even all the "GPGI" shares traded, side-dealings (royalties payback agreements), 1st, 2nd, 3rd, 4th mortgages...etc.
e.g. I bought 200 shares one day last year. Documented via DTC. Once the Chill hit, trades are not not documented via DTC.
The Chill - That was last August. Nine months without electronic transaction documentation....
Paperwork and paper trail from "American Registrar" and the brokerage(s) will be required and compiled....for all types of trades, DTC or not.
http://www.securitieslawyer101.com/dtc-securities-chill/
3. Our BoD is taking the time to do some of initial work and get the BORK train back on the BORK track.
4. Legal expenses from firms that specialize in DTC Chll removal procedures are quite high. I've made some calls and these firms want a minumum of $40 -$50K to do the job.
5. BORK does not have $4- $5K to spend on the process right now. IMO - These men on the BoD - an attorney and pros in business are putting in serious "grunt" hours to get BI prepped for the homestretch. I don't want their jobs. Do you ? I think it's a sacrifice on their parts to do it...why are they !?!
KRYRON.
There is the distinction between the product and the company mis-mgmnt. of the past two years. Let's give the new train conductor and engineers a short break to get up to speed.
"BTU" - Sean and the BOD essentially have been working less than two months for the shareholders. TWO months without JB big-footing EVERYTHING.
Without the BoD we have now...
Also, I'm sure you recall BORK.PK was not even trading shares on the OTC Pinks until Feb. 2011 - two years ago. So--o-o that means I could not have bought or sold any BORK shares until after Feb. '11.
***This "ship" about BORK being in active business for anywhere between 3 to 5 years has got to STOP - SERIOUSLY.
Bourque Industries Announces Change of Control
"TUCSON, Ariz., March 19, 2013. Bourque Industries, Inc. (OTC: BORK), a development stage company in the process of commercializing its patented Kryron metal-alloying process using nanotechnology to fundamentally alter common metals at the molecular level to create ultra-high performing super alloys, announced this morning an interim change in control as a result of execution of a Voting Lock-Up Agreement with its principle shareholder, John Bourque."
Noone doubts your or his background -- that was not a throw away line. Any SHAREHOLDER (retired or with "free time") who has your / his type of experience and would like to participate in changing BI for the better with positive input or a few man hours / leg work - no one is stopping you. In fact, I encourage it....
It's why Sean made the investment in TIME AND $$$ prior to and since last July, hung in there through the JB "dog days" and is working with the best BoD I've EVER SEEN working for a .04 cent PINK SHEET stock company -
One more time: NEW BoD, exposing all past problems and dealing withthem - planning for the fuure and financing for armor, heat sinks, bus bars, plasma coating -
KRYRON works...and for once I believe the entire BORK team is too.
"marketcap" - WOW ! Do I EVER have egg on my face !?! I must not be an actual shareholder then LOL !!
Anyway:
The IMPORTANT PART OF MY POST is he was not employed or given the VP title til July....2012.
s-o-o-o-o that means he was not calling himself Interim CEO in March '12 .....
Nontheless - GREAT WORK fixing the background details !! I owe you one !!
"BJ69" - I'm sorry to hear about your business...truly.
RE: BI - No one is happy that a customer has not got their plates no matter what the reason. Email BORK and complain...please ! I have - I wish you had better luck with your email. I don't bat 1000. I get about 1 in 5 returned with a very short response. Not expecting much with the re-organization.
It doesn't mean I don't care or stop trying.
Every shareholder wants accountability as BI gets their train back on the tracks. BI is doing all they LEGALLY to show they are serious about the past problems, agreed ?
A (VERY) short history lesson:Sean and the new BoD have been in contol-ish since March 9....what is that ...about 55 days ?
I BELIEVE the NEW BoD will benefit us greatly. Both Sean and they are doing the work of 20 men / women now while they re-organize and secure funding for the future.
IMO Let's ALL catch our breath, shake our heads to clear the cobwebs of prior mgmnt. and give the new team another month to stabilize a few aspects of this business. I want us to succeed, as do you.
You seem like a successful business man having mangaged over 300 employees - seriously, if you're retired, with your business skill set, consider giving Sean a call and ask him if you can offer some small clerical / organizational input or assistance if you have the time or energy til things settle in. Thanks !
KZ - Excellent point ! Why would a "typo" - corrected in the final document and NOTARIZED in March of 2013 raise any questions about the deeds' legality, Sean or his tenure length ?
IMO - Misrepresentation of "typos" as FACTS does not substitue for FACTS - never has and never will...
Further expansion of a deed transfer "typo" to ASSume FACTS not in evidence is beyond my comprehension.
FOR EXAMPLE: Sean signed a document that "says he was interim CEO in March '12" - ! OMG !! I' m so-o-o-o sure !!
LOL !! C'mon ! Seriously ?!?!
Everyone who is an ACTUAL SHAREHOLDER knows Sean had not even traveled to AZ or met JB until May '12 and did not get any type of contract or title until July '12...which was VP to the CEO.
Brother....I don't even know what to say....
IMO the mis-shipped plates, re-shipped plates, box damaged, losing (1)front and (1) back plate combo is very unfortunate for all parties.
I appreciate the valid DD. I'll take your word it's not been "fixed" yet.
I get it !! LOL
Personally: It's embarrassing to get an email in 24 hrs that "it will be done" in the next 24 - 48 hrs. and then find out it isn't......it's been 2 weeks !
****On the other hand. I don't work for BI, so I don't know what has transpired since that email.
IMO an unresolved "miscommunication" between these three parties: the new BI mgmnt., the prior sales team at the time and the client - does not have a good appearance and can impact business reputations. I have been on both sides of a shipping dispute and it's not pretty.
Ship happens...
The issues are many - including the tracking, documenting the weight at shipment and at delivery, the noted damage to the box upon delivery and the insurance claim BI has with the shipper.
That said: If BI has not called the client to discuss the best way to handle it then they are being negligent.
I don't know about you, but I am sending BI an email to that effect now. I invite any SHAREHOLDER to do the same.
At this point: Just send the gd plates and deal with any issues later.
DUE DILIGENCE: SCOTT STOVER - The NEW BoD member is working for BORK SHAREHOLDERS !!
Read this and tell me he isn't one of the best and brightest at his position !!
http://www.linkedin.com/pub/scott-stover/22/b99/578
SCOTT'S business associations alone tells me we have the right man for contaacting the right companies working for us !!
Get it !! LOL !!
DUE DILIGENCE: ALL issues POSTED here are under REVIEW by the NEW BoD and CEO - I CAN READ the PRESS RELEASE and it clearly states so:
BORK PR from 4/12/13:
http://ih.advfn.com/p.php?pid=nmona&article=57143646
The 3rd “Q” report PROVES it !! This is the BEST NEWS AND STATEMENT OF FAITH EVER about BORK’s Future Strength and New and Improved Leadership working for the ACTUAL SHAREHOLDERS !!
PAST: Wow !! Quietly litigate, negotiate, arbitrate, confiscate but do it Under the Law. As much as I might want it to, I KNOW it’s not gonna happen overnight.
Get it ? LOL !!
FUTURE: "Full Audit", a 6 mo. process re-initiated by the NEW BoD by an OUTSIDE, non-affiliated CPA group to Remove DTC Chill, get SEC compliance and Fully Reporting status, NEW financing stepping in, NEW and improved armor products, NEW “NIJ-06” Ballistic Armor approval coming, NEW markets and NEW license agreements and NEW royalty payments achieved and received.
Get it ? LOL !!
http://www.otcmarkets.com/financialReportViewer?symbol=BORK&id=102905
DUE DILIGENCE: ALL issues or Anything ANYone may have the EGO to believe one has "discovered" ("good" or "bad") about BORK is NOW under TOP DOWN review by the new BORK BoD members, the CEO, and outside Attorneys and CPA's !!
FACT: Redundant Speculations are not FACTS.
ABSOLUTELY Nothing is NEW or an unaddressed concern by the NEW BoD in everything I've read on this board the last three weeks. NOTHING posted here is NEW to the BoD. Period.
FACT Seekers CONTACT:
Bourque Industries, Inc.
5333 E. Drexel Rd.
Tucson, AZ 85706
520-624-5248
I'm a SHAREHOLDER posting FACTS, doing DUE DILIGENCE and pointing out the NEW and IMPROVED guidance and direction of BORK.
http://ih.advfn.com/p.php?pid=nmona&article=57143646
FACT: "At the request of the Chairman and unanimously approved, the board has established a financial and equity audit task force, a sales contracts task force, and a task force to address previous obligations entered in on behalf of the company."
FACT: HMMM... THREE TASK FORCES on the BoD...Wharton Biz School grads, retired Colonels from the U.S. Army, titans of multi-billion dollar industries, Westpoint grads, attorneys, investment banking partners....
YA KNOW WHAT ? - I'm going with my BRAIN and say they got it ALL covered !! GET IT ? LOL !!
FACT: - "OTC Pink" companies are not Fully Reporting - Since March 9, 2013 BORK has reported more than they are REQUIRED to - GET IT ? LOL !!
FACTS will follow facts, not redundant speculation either way.
We are under new mgmnt. and they have their ducks in a row - QUACK !!
GET IT !!! LOL !!
Hi "Alvie" - These things go in cycles. The BORK train has not been on a flat straightaway, unfortunately. Don't we know !
More like a "roller - coaster" and it's an "E" Ticket one at that (Disneyland reference from pre-'90's)!! Some folks make a few bucks on volume trades up and down with a spread of .01 +.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=87064033
Let's not get overly concerned with PPS yet...we have a lo-o-o-ong way to go and it will be a struggle to "get there".
But it is better than sinking and sticking below .04 !
My advice to SHAREHOLDERS: ~ "Keep Calm and Carry On" ~
Welcome Aboard the BORK slow-moving, under renovations train to prosperity !!
It seems there are STILL questions about BI past, present and future that a few folks think are important and would like answers to...and it seems that your investment group has a lot of resources and professional, learned folks participating.
Can you please ask for their assistance and address questions and concerns posed in this post ?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=87392642
I'm sure they would be very grateful for your help !
Thanks,
Slick
I know BI is looking for short term funding and is offering a decent interest rate.
Do you know how I know that ? I CAN READ - It's in their Press Release from 4/12/13 -
http://ih.advfn.com/p.php?pid=nmona&article=57143646
FUNDING
"... since the confirmation of the new Board, we have located numerous institutional investors and funds which have been introduced to the Company. Management and the Board are in the process of considering various proposals to bring additional capital to the Company. There is no guarantee of success in closing on new capital infusion, or closing on commercially reasonable terms, but management is optimistic that the Company will be successful in this effort.
Assuming additional funding is achieved, the primary use will be for growth, sales, marketing, testing, new product launches and initiatives..."
CONTACT:
For more information and to learn about Bourque Industries and Kryron applications, please contact:
Sean Floyd, Interim CEO: 1-877-379-6551 or 520-624-5248
DUE DILIGENCE: BORK's Future is MUCH BRIGHTER - our NEW Board and CEO have ALL issues and concerns under review and is NOW ACTING ON THEM in the interest of ACTUAL SHAREHOLDERS.
http://ih.advfn.com/p.php?pid=nmona&article=57143646
Some Items in the Press Release
1. BI is doing a formal audit of ALL financials and ALL shares and has FULLY DISCLOSED them in the "Interim Financial Report". When complete, the FULL AUDIT will satisfy the SEC & DTC to remove the chill !
2. BI will achieve SEC FULLY REPORTING status as a result !
3. Following this there will be appropriate funding available to execute a well thought out company plan for funding and revenue growth !
4. Every SHAREHOLDER is very impressed with BI management and he future of BI !
5. A reasonable evaluation of BI's plans will place BI in the top three of 100 OTC / micro-cap companies.
6. I see no major issues to the future of BI.
7. I wish I had the funds to buy over 3M shares of BORK stock so I could put my money where my mouth is.
8. I see BORK as a great investment opportunity over the next few years.
GET IT !! LOL !!
DUE DILIGENCE: ALL issues or Anything ANYone may have the EGO to believe one has "discovered" ("good" or "bad") about BORK is NOW under TOP DOWN review by the new BORK BoD members, the CEO, and outside Attorneys and CPA's !!
FACT: Redundant Speculations are not FACTS.
ABSOLUTELY Nothing is NEW or an unaddressed concern by the NEW BoD in everything I've read on this board the last three weeks. NOTHING posted here is NEW to the BoD. Period.
FACT Seekers CONTACT:
Bourque Industries, Inc.
5333 E. Drexel Rd.
Tucson, AZ 85706
520-624-5248
email: contact@bourqueindustries.com
I'm a SHAREHOLDER posting FACTS, doing DUE DILIGENCE and pointing out the NEW and IMPROVED guidance and direction of BORK.
http://ih.advfn.com/p.php?pid=nmona&article=57143646
FACT: "At the request of the Chairman and unanimously approved, the board has established a financial and equity audit task force, a sales contracts task force, and a task force to address previous obligations entered in on behalf of the company."
FACT: HMMM... THREE TASK FORCES on the BoD...Wharton Biz School grads, retired Colonels from the U.S. Army, titans of multi-billion dollar industries, Westpoint grads, attorneys, investment banking partners....
YA KNOW WHAT ? - I'm going with my BRAIN and say they got it ALL covered !! GET IT ? LOL !!
FACT: - "OTC Pink" companies are not Fully Reporting - GET IT ? LOL !!
FACTS will follow facts, not redundant speculation either way.
We are under new mgmnt. and they have their ducks in a row - QUACK !!
GET IT !!! LOL !!
DUE DILIGENCE:The CEO and BoD Understand ONE major concern. KRYRON is awesome but without FUNDING it's on life-support. Without it there is no $$$ for growth, sales, marketing, testing, new product launches and initiatives.
Therefore, One MAJOR point I AM VERY INTERESTED IN was mentioned in the Press Release...and I am willing to speculate as there is nothing that can be done without it ...MONEY $$$ !!!
Per the last Press Release: Here is ALL we KNOW for NOW -
Funding
"Aside from being a non-reporting Company, Bourque Industries’ biggest issue was funding...This is of critical importance....our Board has many well qualified connections (understandably) for funding opportunities, and I expect to report on these as they become concrete funding transactions. "
4th "Q" FUNDS Raised/ Unknown Amount $$$ Infused into B.I.
"One transaction that has occurred is an amendment to our CNT agreement, which accelerated their royalty payments to us. ( a licensing agreement in place we did not know of til NOW)
In return for the acceleration, we agreed to release them of a future minimum royalty payment and allowed them to explore currently dormant contracts with other possible Kryron technologies. The transaction, led and negotiated by our corporate counsel, has positively affected our ability to sell, market, and distribute product and improve our cash positions to fund daily operations."
CEO and BoD REVIEWING OFFERS ?
"...since the confirmation of the new Board, we have located numerous institutional investors and funds which have been introduced to the Company. Management and the Board are in the process of considering various proposals to bring additional capital to the Company. There is no guarantee of success in closing on new capital infusion, or closing on commercially reasonable terms, but management is optimistic that the Company will be successful in this effort.
Assuming additional funding is achieved, the primary use will be for growth, sales, marketing, testing, new product launches and initiatives. "
Any thoughts about if BORK will get more funding at commercially acceptable rates or deferred payments without having to give up HUGE shares as collateral like "Ironridge" ?
DUE DILIGENCE: ALL issues or Anything ANYone may have the EGO to believe one has "discovered" ("good" or "bad") about BORK is NOW under TOP DOWN review by the new BORK BoD members, the CEO, and outside Attorneys and CPA's !!
ABSOLUTELY Nothing is NEW or an unaddressed concern by the NEW BoD in everything I've read on this board today.
CONTACT for Confirmation:
Bourque Industries, Inc.
5333 E. Drexel Rd.
Tucson, AZ 85706
520-624-5248
email: contact@bourqueindustries.com
I'm a SHAREHOLDER posting FACTS, doing DUE DILIGENCE and pointing out the NEW and IMPROVED guidance and direction of BORK.
http://ih.advfn.com/p.php?pid=nmona&article=57143646
FACT: "At the request of the Chairman and unanimously approved, the board has established a financial and equity audit task force, a sales contracts task force, and a task force to address previous obligations entered in on behalf of the company."
FACT: HMMM... THREE TASK FORCES on the BoD...Wharton Biz School grads, retired Colonels from the U.S. Army, titans of multi-billion dollar industries, Westpoint grads, attorneys, investment banking partners....
YA KNOW WHAT ? - I'm going with my BRAIN and say they got it ALL covered !! GET IT ? LOL !!
FACT: - "OTC Pink" companies are not Fully Reporting - GET IT ? LOL !!
When one understands the facts are right then FACTS will follow facts, not redundant speculation either way.
We are under new mgmnt. and they have their ducks in a row - QUACK !!
GET IT !!! LOL !!
DUE DILIGENCE: ALL issues or Anything one may believe one has "discovered" (good or "bad") about BORK is already under legal review by the new BORK BoD members, the CEO, and outside lawyers and CPA's !!
CONTACT for Confirmation:
Bourque Industries, Inc.
5333 E. Drexel Rd.
Tucson, AZ 85706
520-624-5248
email: contact@bourqueindustries.com
In my small way, as a SHAREHOLDER posting FACTS and doing DUE DILIGENCE, I'd like to contribute to PPS stability or gain by pointing out the new direction of B.I.
FACT: The new B.I. needs some time and a bit of space to fix things. The next "Q" will be their first and it ends in 5 weeks...
OH YEAH, ONE MORE THING - "OTC Pink" companies are not Fully Reporting - get the facts right and the FACTS will follow. Nothing is NEW or an unaddressed concern in all I've read here today.
We are under new mgmnt. and they have their ducks in a row - like the DUCK CALLS IT: QUACK !!
GET IT !!! LOL !!
"MerthyQ" - Agreed ! I really am optimistic about the team they have organized for us -if these guys can't get it done no one can.
Credibility, success, experience, contacts, know how, leadership -- and a great product !!
IMO - Kryron - its like a NEW Ferrrari in the garage for 2 years -Let's get it out there and see how this baby runs !!!
I have read many LENGTHY posts and I agree sometimes and not others.
If anyone wants the FACTS do your own DD and call the client or BORK directly.
I DO MY BEST to report the FACTS in the REPORTS and PR's. You won't see me wildly deviating or expanding in areas that are not my expertise in any professional way.
I'm NOT AN SEC ATTORNEY after all.
I trust the BOD and Sean know where the company stands and who the past bad players are.
The DISCLOSURE in the recent "Q" report and Press Releases tell me they are on top of ALL issues.
If there is any legal concern see an attorney....Better yet print an SEC attorney opinion here for all to review and decide.
Otherwise I'll suggest we SHAREHOLDERS wait for the next "Q" report to appear and see if Sean and the BOD have turned us around.
I THINK THEY ARE AND WILL.
DUE DILIGENCE: ALL issues or Anything one may believe one has "discovered" (good or "bad") about BORK is already under legal review by the new BORK BoD members, the CEO, and outside lawyers and CPA's !!
CONTACT for Confirmation:
Bourque Industries, Inc.
5333 E. Drexel Rd.
Tucson, AZ 85706
520-624-5248
email: contact@bourqueindustries.com
In my small way, as a SHAREHOLDER posting FACTS and doing DUE DILIGENCE, I'd like to contribute to PPS stability or gain by pointing out the new direction of B.I.
FACT: The new B.I. needs some time and a bit of space to fix things. The next "Q" will be their first and it ends in 5 weeks...
OH YEAH, ONE MORE THING - "OTC Pink" companies are not Fully Reporting - get the facts right and the FACTS will follow. Nothing is NEW or an unaddressed concern in all I've read here today.
We are under new mgmnt. and they have their ducks in a row - like the DUCK CALLS IT: QUACK !!
GET IT !!! LOL !!
DUE DILIGENCE: FACT: Anything one may believe one has "discovered" good or "bad" about BORK is already being looked at by the new BORK BoD members, the CEO, and outside lawyers and CPA's !!
Bourque Industries, Inc.
5333 E. Drexel Rd.
Tucson, AZ 85706
520-624-5248
email: contact@bourqueindustries.com
As was mentioned, if one is in doubt, on can visit/call B.I. and see for themselves instead of theorizing good or bad.
In my small way, by posting FACTS and doing DUE DILIGENCE, I'd like to contribute to PPS stability or gain by pointing out the new direction of B.I.
FACT: The new B.I. needs some time and a bit of space to fix things. The next "Q" will be their first and it ends in 5 weeks...
GET IT !! LOL !!