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That's another lie. The PO was cancelled more than a year ago, not after the PR was issue.
There was no lies in the PR or PO. That is fact. Timken canceled the order right after the PR was released. It's a miniscule order worth only 9k. meh
Quote:
TPAC Bearings ?@TPACbearings Jul 18
The Timken purchase order will not be reinstated. The order was canceled after the Press Release was issued
TKR stated otherwise.
Are you serious? Asking the CEO via email? If the CEO was willing to lie about the PO with TKR via a Press Release, he will say anything you'd like to hear.
Where was the 8-K that showed $2,000,000 cash injection?
My DD shows a bunch of notes: The KBM note was $48,000. TPAC has $23,000 in cash. How could TPAC pay in cash per the 8-K?
NOTE 5 – CONVERTIBLE NOTES PAYABLE
As part of the acquisition of HAC, the Company assumed $260,000 of obligations under a convertible note. The convertible note assumed by the Company does not bear interest and became payable on March 12, 2011. The note is convertible into shares of the Company’s common stock at an initial conversion price of $0.25 per share. The conversion price is subject to adjustment for stock splits and combinations; certain dividends and distributions; reclassification, exchange or substitution; reorganization, merger, consolidation or sales of assets. As the convertible note does not bear interest, the Company recorded the present value of the convertible note obligation at $239,667 and accordingly recorded a convertible note payable for $260,000 and a corresponding debt discount of $20,333. Under the effective interest method, the Company accretes the note obligation to the face amount of the convertible note over the remaining term of the note. The discount was fully amortized at March 12, 2011. Debt discount expense totaled $7,452 and $12,880 for the years ended October 31, 2011 and 2010 respectively. The Company performed an evaluation and determined that the anti-dilution clause did not require derivative treatment. On September 16, 2011, the Company entered into an agreement with the note holder to extend the maturity date of the note. Pursuant to the agreement, the entire outstanding amount became fully due and payable on December 31, 2011. The note is now currently in default. For the six months ended April 30, 2015 and 2104, the Company recorded imputed interest of $9,100 and $9,100, respectively.
During the year ended October 31, 2014, we entered into Securities Purchase Agreements with various accredited and sophisticated investors, pursuant to which we sold Convertible Promissory Notes with interest rates ranging from 8% to 12%, in the original principal amount of $325,000 (the “Notes”). The Notes have maturity date of six months or one year from the issuance date and are convertible into our common stock, at any time after 180 days, at a price for each share of common stock equal to 50% to 60 % of the lowest closing bid price of the common stock as reported on the National Quotatons Bureau OTCQB exchange, based on formulas specified in the agreements.
The issuances of the Notes were exempt from the registration requirements of the Securities Act of 1933 pursuant to Rule 506 of Regulation D promulgated thereunder. The purchasers were accredited and sophisticated investors, familiar with our operations, and there was no solicitation.
The Company analyzed the conversion option of the Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the instrument should be classified as liabilities once the conversion option becomes effective after 180 days due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options for the Notes issued. During the year ended October 31, 2014, the Company repaid $112,500 of the principal amount of the Notes.
During the six months ended April 30, 2015, six of the convertible notes with total principal amount of $212,500 reached the 180 days and the conversion options became derivative liabilities. Using the Black-Scholes Model, the Company calculated the fair value of the conversion options and recorded derivative liabilities on the 180 day and April 30, 2015. The change in fair value was recorded as derivative expenses.
F-12
On June 13, 2014, we entered into Securities Purchase Agreements with Tangiers Investment Group LLC, pursuant to which we sold a 10% Convertible Promissory Note, in the original principal amount of $55,000 (the “Tangiers Note”). The Tangiers Note has a maturity date of June 13, 2015 and is convertible into our common stock, at any time at a price for each share of common stock equal to 60 % of the lowest closing bid price of the common stock as reported on the National Quotatons Bureau OTCQB exchange, based on a formula specified in the agreement.
On November 25, 2014, we entered into Securities Purchase Agreements with Tangiers Investment Group LLC, pursuant to which we sold a 10% Convertible Promissory Note, in the original principal amount of $27,500 (the “Tangiers Note 2”). The Tangiers Note 2 has a maturity date of November 25, 2015 and is convertible into our common stock, at any time at a price for each share of common stock equal to 60% of the lowest closing bid price of the common stock as reported on the National Quotatons Bureau OTCQB exchange, based on a formula specified in the agreement.
The issuances of the Tangiers Note 2 was exempt from the registration requirements of the Securities Act of 1933 pursuant to Rule 506 of Regulation D promulgated thereunder. The purchaser was accredited and sophisticated investors, familiar with our operations, and there was no solicitation.
The Company analyzed the conversion option of the Tangiers Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the instrument should be classified as liabilities due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options for the Tangiers Notes issued. The Company then calculated the fair value of the conversion option and recorded derivative liability on the issuance date and the subsequent period end dates.
On November 10, 2014, we entered into Securities Purchase Agreements with Auctus Privatge Equity Funds, LLC, pursuant to which we sold an 8% Convertible Promissory Note, in the original principal amount of $40,000 (the “Auctus Note”). The Auctus Note has a maturity date of November 10, 2015 and is convertible into our common stock, at any time at a price for each share of common stock equal to 55 % of the average of the lowest three (3) trading prices of the common stock as reported on the National Quotatons Bureau OTCQB exchange, based on a formula specified in the agreement.
The issuances of the Auctus Note was exempt from the registration requirements of the Securities Act of 1933 pursuant to Rule 506 of Regulation D promulgated thereunder. The purchaser was accredited and sophisticated investors, familiar with our operations, and there was no solicitation.
The Company analyzed the conversion option of the Auctus Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the instrument should be classified as liabilities due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options for the Auctus Note issued. The Company then calculated the fair value of the conversion option and recorded derivative liability on the issuance date and the subsequent period end dates.
On February 23, 2015, we entered into Securities Purchase Agreements with KBM Worldwide, Inc., pursuant to which we sold an 8% Convertible Promissory Note, in the original principal amount of $48,000 (the “KBM Note”). The KBM Note has a maturity date of October 9, 2015 and is convertible into our common stock, at any time after 180 days, at a price for each share of common stock equal to 55 % of the average of the lowest three (3) trading prices during the ten trading days prior to the conversion date of the common stock as reported on the National Quotatons Bureau OTCQB exchange, based on a formula specified in the agreement.
The issuances of the KBM Note was exempt from the registration requirements of the Securities Act of 1933 pursuant to Rule 506 of Regulation D promulgated thereunder. The purchaser was accredited and sophisticated investors, familiar with our operations, and there was no solicitation.
The Company analyzed the conversion option of the KBM Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the instrument should be classified as liabilities once the conversion option becomes effective after 180 days due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options for the Notes issued.
F-13
In March and April 2015, we entered into Securities Purchase Agreements with various accredited and sophisticated investors, pursuant to which we sold 8% Convertible Promissory Notes, in the original principal amount of $45,000 (the “New Note”). The New Notes have maturity dates of June 12 and October 24, 2015 and are convertible into our common stock, at any time at a price for each share of common stock equal to 55 % or 60% of the lowest closing price of the common stock as reported on the National Quotatons Bureau OTCQB exchange, based on a formula specified in the agreements.
The issuances of the New Notes were exempt from the registration requirements of the Securities Act of 1933 pursuant to Rule 506 of Regulation D promulgated thereunder. The purchasers were accredited and sophisticated investors, familiar with our operations, and there was no solicitation.
The Company analyzed the conversion option of the New Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the instrument should be classified as liabilities due to there being no explicit limit to the number of shares to be delivered upon settlement of the above conversion options for the New Notes issued. The Company then calculated the fair value of the conversion option and recorded derivative liability on the issuance date and the subsequent period end dates.
During the six months ended April 30, 2015, $214,098 of the convertible notes was converted to 720,467,596 shares of the Company’s common stock.
For the six months ended April 30, 2015 and 2014, the Company recorded derivative expense of $55,062 and $0, respectively. As of April 30, 2015 and October 31, 2014, the derivative liability amounted to $204,963 and $207,891, respectively.
As of April 30, 2015 and October 31, 2014, the outstanding amount of the convertible notes were $99,974 and $233,747, net of discount of $123,820 and $33,753, respectively.
How much was the last note?
This 8-K is vague. In order to claim debt free, the 8-K should detail all of the notes converted.
Like this:
Official 8-K
I agree.
Brwc is gonna sky rocket soon
Were those your shares?
What time?
Wow. Your denial is unbelievable. Read my lips and repeat after me for the last time.
BRWC took the loans in October 2014.
BRWC paid off the loans in June 2015 way earlier than their mature dates.
We will break 10s today.
The asks got thinner and thinner everyday.
EB,
Read the 8-K that came out after the 10-Q. People read forward, not backward.
BRWC even paid off these notes earlier than their due dates.
8-K
EB,
Read the 8-K that came out after the 10-Q. People read forward, not backward.
8-K
No matter how people spin it, it doesn't change the fact that TPAC's CEO lied and got caught.
linda,
Have you ever heard of Elon Musk, the CEO of both Tesla and SpaceX?
https://en.wikipedia.org/wiki/Elon_Musk
SS,
This is the job of the Legal Counsel and Financial Auditor. Francine became BRWC's CEO since 2009. Don't you think they would have advised her if there's a conflict of interest between the two? Moreover, Francine got an MBA in International Business, don't you think she knows a thing or two about business laws?
BRWC- Francine Lavoie
Chairman & CEO of Boreal and Saint-Elie
Francine Lavoie holds several awards, including Best Business of the Year, Excellence in Export from the Minister of Agriculture, Best Business Builder of the Year, and Best Woman Entrepreneur of the Year. In 2001 Lavoie became the president of natural spring water bottling plant Les Sources Saint-Elie entire coand restructured the mpany after a major fraud and near-bankruptcy situation. Her strategy included the design and execution of a new marketing approach as well as management of the entire plant operation, from sales, finance and manufacturing to obtaining a permit to increase production from regulatory agencies, which makes Saint-Elie one of Canada’s largest sources in Quebec. Lavoie’s experience also includes real estate development, product conception and international sales. In April of 2009, Lavoie acquired Leisure Time Spring Water (LTSW) and sold the company’s HOD division to a distributor in New Jersey. She has renegotiated all contracts with suppliers and customers, restructured and conducted a successful turnaround strategy, and has developed and designed a new marketing approach with a goal of making Boreal Water Collection the Northeastern U.S. leader for high-end private label bottled water. Lavoie has also already obtained approval for the status of a Regionally Significant Project under the Empire Zone State Program, which will allow the company to get taxes incentives. Lavoie has a B.A.Sc. in Chemical Engineering, P.Eng. and an M.B.A. in International Finance and Trade.
Anyone still remember the 20M shares put up at 9 couple days ago? 20M at 11 will get snatch up too.
Great opportunity for new buyers to pick up decent amount of shares without chasing it up.
Flush out the 9s and 10s buyers yesterday at 10s and 11s today then we will fly.
JE,
BRWC has all the ingredients to reach penny+.
Love the curl ups. The golden cross is coming up soon too.
"MINE" and "HJOE" are currently trading in the .003s. There is no reason why BRWC can't match their levels in the coming weeks as BRWC's fundamental is much stronger and better than them.
Stack the bid, smack the ask. Slow and steady wins the race.
It's thin all the way up, steve.
RR,
BRWC is toxic convertible debt free. 70% of the OS are owned by insiders and restricted. Float is only 1.4B and it's almost locked if not already as you can see on level 2.
As we move up, the ask size will get smaller and smaller at every level.
Stack the bid, smack the ask is the motto here.
Those shares are locked up and in good hands.
The beauty of the "Float Locked Up" play is that the longs are in control of their destiny. If all the longs stay united and work together, everyone will make a lot of money in the end.
1) Francine's husband's name is not Lionel.
2) Francine lived in Montreal, Canada in 2005, not in Las Vegas, NV, USA.
I already knew this was BS when he posted it this morning.
Copy it to Shelly.chadwick@timken.com to confirm as well.
Basic investing 101:
Convertible debt free companies don't file for BK. BRWC is one of them.
Your team of how many? One?
You can't even read.
You're running out of materials.