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Yes, that was letting people load up on cheap shares. The price did not change because the entities buying did so with limit orders with conditions of all or none. And by the way as I wave to those leaving us - THANK YOU VERY MUCH.
My CPA read the financials and commented "gee this company is broke - only $18,000 cash. But wait a minute I see additional info at the end of the statement". As of May 31 they were broke but then along came BAM. Fortunately for some us with dry powder, many did not read the full financial disclosure and/or did not understand what they read.
In the end, NIJ cert as a stand alone element won't recover the PPS but the orders that follow will. KZMike - this is a good time to get the engine on the train serviced and ready. Please make my reservation for a one way ticket.
The real interesting and fishy part is that as of 1011 EST, ticker volume is 12,200 shares at 1.74 with broker reported volume only at 3700 (which includes the 500 shares pre-market at 175. Someone is trading a lot today on the other side of the window.
Bama2 - I really don't know if the high volume in the background is good or bad. The next time this large of a difference happens I will report back on the price at each volume. RQQ will probably be able to render an educated opinion when I post the prices and volumes. This information is only available for a short period of time at the end of the day. Only some days have a lot going on "out of sight".
BORK ticker volume today was 224K shares. This is a lot of trading going on behind the scenes!
Regarding my previous post. Many of the time frame expectations were generated by board members who took a desire from one post and turned it into a "actual" schedule. Sure, JB wanted the factory up and running in two weeks. That doesn't happen in any company. If you don't put pressure on the worker bees then the factory would not be in place today. Today the factory is in place and close to running a product line.
Regarding NIJ. I suspect that nobody on this board has ever been through the NIJ process and that includes John Bourque. There were hard business decisions as to what level to apply for, locking down the Kryron formulation (NIJ does not permit any changes after submission of the application. Either BORK made a mistake on the initial submission (could any of us do better), or they improved the formulation of Kryron. In any case, as of today the testing is over, we got good reports from the results, and NIJ is going through their paperwork process. Remember, a Ceredyne individual was reported to be on the board - they don't want BORK to succeed.
Pink Sheets - fact- the CE has been removed. Work is ongoing to upgrade the status. I don't know what it takes to upgrade but remember that going from a non-reporting company to reporting compliant is like trying to get current with the IRS. Not a fun job - but they are doing it. My expectations are year end but I certainly would like to be surprised like the rest of us.
Sales or orders are not going to be reported until NIJ is complete and in hand. That is why I always hoped NIJ would be delayed until late fourth quarter to 1st quarter 2012. My opinion is that the company will be better off having the factory ready to produce and formally accept orders when the NIJ is formally released. If NIJ cam to early before the factory then customers would be disappointed - right now they have an anticipation of success of NIJ and I suspect conditional (NIJ) orders are in hand. BORK cannot announce these (bad business) when they don't have NIJ in hand. Some of the orders may never be announced for security reasons.
This is a tough business where other companies would do almost anything to make BORK go away. From everything I have read, I am not disappointed in their progress but somewhat surprised at their level of success. Think of the difficulty of putting on demos, dealing with the USG, state gov't, NIJ, Pink Sheets, a new factory, and the herd of cats on this board. This company is doing an exceptional job given the tasks, economic environment, and this board of ferrel cats. All DD IMO has been done for this investment for now. Let the cooks do their work in the kitchen if you want a good meal before you leave. Dinner will be served in due time.
The PPS behavior is what I would expect given all of the previous posts for the past year. IMO expectations of many was to make a rapid "fortune" within a few weeks. I think some are not willing to let the business take it's course and mature plus the former GPGI owners sale of some of their stock. I expect those who invested <20K shares, give or take 40K, and below are not willing to stay the course. Add to that the shorts who want the stock to go to zero. The bleed is going to stop when, independent of positive PR, with a lot of dry power, concludes that "now is the time". Look at what is pushing the share price down - sometimes only a 100 shares pushes it down 2 cents.
I expect that some of us or others will have dry powder soon to scoop up this incredible bargain. The volume is so lite you could blow it like a feather. The facts about BORK have not changed. Nothing negative has come out regarding the company - only positive. Remember folks, this is a startup company. Be like a farmer - sow your wheat now so you can harvest in the spring. This is not an overnight situation. A pump and dump would have gone up rapidly and fallen into the pit long before now. I personally ignore this minor glitch. There isn't any rotten apples in this barrel but now is not the time to take them to market and sell unless you want to take a loss on your taxes and a loss in your portfolio.
I personally have a lot more invested in this venture than most of you and you aren't getting my shares at this time. When the first customer comes along with significant dry power all those shorts will have to cover and they certainly aren't going to get my shares. If you sell now, the people who shorted this stock at $4 and $2 will need a new wardrobe. They will lose their shirts, pants, and probable their underwear. BORK IMO is a solid company doing what they need to do to develop the company. PPS is really secondary or thirdinary to their concerns. If you are here for overnight or overweek fortunes - IMO it ain't going to happen. BORK will develop the customers, processes, and sales. Look down the road just 6 months from now - NIJ, Pink Sheets, orders, sales, and PPS up. If you choose to sell me your shares at today's prices then thank you very much. Six months from now this will all be history. If you choose to leave the party then go see if you can find another startup with as much potential. JMHO
Best Wishes to All
Just for the record - some posts are deleted at the author's request.
If someone messes up big-time on IHUB and gets banned by IHUB admins you can't just sign up again from the same email address and expect not to get booted off again. I don't think the posting on this board had anything to do with his getting booted off of IHUB. The post was not out of order IMO.
Yes the RFP process is long and drawn out however, there is another process called "directed procurement" that bypasses all of the competition part of the process with only contract and price negotiations left on the table. This type of product would qualify for the short process if that is what the customer wants. Their call.
Further, if the customer wants and Bourque Industries agrees, BORK could be under contract with nothing more than a letter contract and leave contract and price negotiations for later. (I don't like them but if it gets the train going then great) There are always ways around the formal process when there is a need.
Some of the dry powder has already been loaded and shot today with many verified kills. The dogs are very busy right now gathering in the results. What a nice day.
IMO it is the GPGI folks getting their Christmas money. Keep in mind that many of them got their stock at 1-2 cents at best and held on for years. They are happy to cash out and have a nice holiday. It is their day in the sun. For us, the clouds will clear and we will get our day, just not today. For those who saved some for a rainy day - today is the day!
As of 1509 EST standard volume is 54413 plus 33853 in dark pools. The DP volume is picking up significantly. Total ticker volume is 88266! Very good sign.
Thanks for the great posting. The part I like best is "Moreover, ceramic armor contracts generally are awarded in an open competitive bidding process and may be cancelled by the government at any time without penalty. Therefore, our future level of sales of ceramic body armor will depend on our ability to successfully compete for and retain this business.
I suggest to try making it the media company's idea to publish something on BORK. This can usually be done by asking questions like what do you know about this new company called Bourque Industries in Tucson, do you have any information about Kryron, etc. If you send them specific information it is usually suspect because they didn't discover it. Help them, guide them, and lead the way but carefully so they discover what you want them to see but it is probably not a good idea to "tell them". JMHO.
One part of your post I don't understand your reasoning. Why would you expect a large down move due to short interest? The short interest has been increasing slowly in the past month so that is one reason the PPS has been going down.
I don't understand why there would be a large move downward, large increase in short interest, when it looks like shorts already have a large position (at this low volume it would take 2-3 days just to cover. I would expect a fast and large move upward when significant positive news comes out because the shorts must cover by buying and in some cases they will have to cover with market orders.
Greetings and salutations. My intel says that Bonanza has bought ore moving equipment, crusher, and mills for the Arizona mine. They are being installed this month. Does anyone know if they will be casting bars by year end or any other information about progress toward production?
Yes, there is dark pool trading on this stock. For instance the ticker total today was 213,300 where the total reported on IHUB and Fidelity was 200,803. Not a significant difference today. But, some days the ticker total is two to three times the volume reported on IHUB and Fidelity.
According to the representative I talked to, who is affiliated with Ameritrade, the difference is primarily the dark pools. The pools are reported on the ticker but are not included in the total volume reported.
If you get some software that sums the ticker for BORK v.s. any of the brokerage houses you will see a difference and sometimes a substantial difference.
RockQQ is exactly right. Unless you are a professional with access to all the information, the daily stats are only a guide and sometimes not a very good one. I recall someone once said if you try to look to closely at the details you really don't know where you are or where you are going. (similiar to the Heisenberg uncertainty principle)
My question to Fidelity was if the correct number of shareholders and holdings was disclosed to the market rather than just Fidelity as a single stockholder. Their reply was that the shares were reported for each shareholder and not summed up under Fidelity. I did not inquire about what information was reported for each shareholder only if the number of shareholders and size of holding was reported. RockQQ sheds good light on the potential of significant additional disclosure for most of us of detailed shareholder information minus the big guys. I will call Fidelity again Monday and try to verify what exactly they report for each shareholder and how often.
That is what I thought too so I called Fidelity. The representative explained, after having to go to a senior person, that when stock ownership is reported out each shareholder is reported as a separate line item even though Fidelity is the fiduciary holder for all holders of that stock with Fidelity. So it appears that there really is a small number of shareholders and from what I see hardly anyone is willing to sell.
Recall that the 2000 shareholders was based upon an average ownership of 11,400 shares per investor. Since I personally know several investors who own 100,000 to 800,000 shares, what we have are a few large investors and many small investors. The recent trades seem to back up that thought because an investor currently owning 300,000 shares is probably not going to place an order for another 100-500 shares. Many small trades going through but very few of significant size.
I like how RockQQ laid out a typical path forward in PPS in #6849. I think it would help if we had more shares in the float.
Note to boardmembers. Please watch your language. Any vulgarity, abbreviations of foul language or the likeness thereof will be deleted in accordance with the TOS. Let's not lose some otherwise good comments on the board because of foul language issues.
Thanks for your cooperation.
Jon - good observations. Also note that Bourque had several demos with progressively higher level people attending. IMO those demos are what will focus the right people on the NIJ cert. Otherwise when it comes it would not receive much notice in a crowded field.
Now the right people are watching and waiting for the official NIJ cert because they know what to expect from the product that they can't get from the other guys. My hats off to Bourque for excellent development of a winning strategy and near perfect execution.
Someone with exchange experience might know if the low number of shareholders could be due to the brokerage houses holding the shares in their name as a fiduciary for multiple shareholders. Any thoughts on this?
Interesting that the average shares per entity is less than 12K. I have been trying to pickup another 100K but only a few uninformed are selling. Looks like no one else is going to get into the club right now. Daily share volume has dried up and nobody in their right mind is willing to sell.
I think the rubber band is stretching pretty tight right now. JMHO.
Bought all of my shares on the open market with Fidelity. Have never had a problem with any restrictions. This includes GPGI and BORK stock.
After-hour trading seems to exist for this stock according to the charts. Fidelity does not list it in their after session. Does anyone know a broker that has BORK listed in their after-hour trading?
I want to thank the former investors for making their stock available today.
With respect to investor's rights to visit the factory - getting into any technology company's production area is pretty much a non-starter. They just aren't going to allow it and with good reason. Even when visits are granted, the tour is managed and you will not see anything that management does not want you to see. That's just the way it works. Comment based on experience. Any by-the-way there are no shareholder rights to do anything except buy the stock, sell the stock, and vote.
Regarding the existing Army vests - the government lies all the time. They are either lying to cover their back side, lying to keep funds, lying to protect their buddies, lying to intentionally deceive the enemy, or lying just because they wouldn't know the truth if it was presented by *** himself. I don't believe anything from the armed services management all the way to the CIC. Just my experience from having participated in the process. Sometimes it is necessary but other times it is outright fraud. That's just the way it works.
There is a pig somewhere in this mud hole. He has to come up for air sometime and then we will have dinner.
Rocqq - if you think 25K shares is a wow, think of those who have 100 times that and you haven't seen them selling!
RockQQ I respectfully disagree with your position that it will not hurt. I based my comments on experience with no disrespect to any shareholder. In a past life our company had a hot widget. One of the partners went to Walmart too soon. When Walmart found that we could not produce in the quantity they wanted to buy we were passed over. Getting a second foot in the door was not possible - the door was closed!
I respect Bourque Industries to make the decisions to orderly bring their product to market. I would like to see Bourque successful as would any long investor.
Too many orders too fast can sink new companies. Bourque is wise to limit exposure and demand to what can be produced. Nothing disappoints a customer more than having to wait for delayed deliveries. Investors getting involved in the day to day workings of the company, ie. "getting the news out" could be very detrimental to success of the company.
Ideally, the news releases and demos generating demand for the product will coincide with the development of production capability.
Stockholders, in their selfish pursuit, can cause irreparable harm to the ongoing strategy and plans of the company. Paraphrasing one of the best teachers "forgive them for they know not what they do".
Consider that the lack of information might be exactly what is in the best interest of stockholders. Trying to guess or assume Bourque's strategy is not healthy. Assuming your strategy, based on little information, is going to be better than Bourque's has little chance of being right.
The best value for the company is putting out PR when timing is optimum. Let them do their job. They aren't doing too shabby so far.
Sign-in sheets are sometimes not what you expect.
If you are demonstrating cosmetics then you might get a sign-in sheet of everyone there along with addresses and phone numbers.
If you are demonstrating Kryron, expect that names on a sign-in sheet will contain all the names but some will not be real. A deputy sheriff, in uniform, may actually be from the Secret Service, FBI, CIA, or other.
So, even with a sign-in sheet you really wouldn't know who was there so it really doesn't matter what you think you need to know about who was there - you aren't going to find out.
Bourque would not disclose attendees for competitive reasons. Some folks attending might be stepping out-of-the-box to consider this new stuff.
They only person who probably knows everyone who was there is the analyst who evaluates the film from the Chinese photographer in the bushes!
How the real bread is made.
When you are in a unique position of having something much better than the competition, an obvious ploy is to rewrite the spec to leave out the competition. Government tech folks are usually not as smart as their industry counterparts. They will accept a draft spec as a starting point as long as you can convince them that the spec can be met in production.
If Bourque accepts a cert to the highest current spec then Kryron would be judged as MEETING the spec along with others already approved. Customers go with low risk purchases from proven vendors. Conformance to government requirements is by MEETING the spec. You generally don't get any credit for EXCEEDING the spec. Ho-hum just another wantabe without production experience.
If however, you prove your product meets a higher spec, you write a draft spec that you know you can meet and your competition cannot. Provide the draft through channels and work it. If the government folks believe they will get a far superior product from Bourque than anyone else can supply, this may mitigate the risk they see in a new company. Whether Bourque's strategy is to work a new spec first or meet the current spec and try to participate with the big boys don't expect to have that strategy spelled out for investors.
If it were me, I would happier with a $60 stock next year rather than $16 this year. I would only hope that Bourque certification is delayed until next year and then granted to a new spec the others guys don't have a prayer of meeting. At that time, if Bourque has his production and sales teams in place then there is no competition! What happens to the stock in the next few months really doesn't matter much.
For those clamoring for cert yesterday and production in the next week be careful what you wish for. Getting cert today to the current spec could be the downfall of BORK. Done right, with the correct timing, Bourque can't lose.
They lease to conserve cash or not get locked into a facility that may not meet future requirements. In addition, since investors do not manage the company, we don't know if it was a simple lease or lease with option to buy, and it really doesn't have anything to do with investment in BORK stock. Management made the correct choice for Bourque Industries.
mdrts - disappointment of investors puts down pressure on price. I don't know if you are long or short but I suspect short. Or maybe you are long and just want to put downward pressure on the price so you can buy more.
Your comment that John promised the factory would be up and running in two weeks is not correct. John11's post stated that Bourque "wanted it up and running in two weeks" and John11 gave his opinion that it would probably take longer. It is not good to set up investors with false expectations so in two weeks you can whine about it not being "up and running".
John Bourque is putting a lot of pressure on his folks to make it happen as soon as possible but everything is not under their control.
In Tucson, they will be lucky to get an electrical inspector out in two weeks. If they have to make changes to the power supplies it takes time for the contractor to design the changes, apply for a permit, order the equipment, wait for delivery, install it, and get it inspected. IMO two months would be a super human effort with nothing going wrong.
Jellybeanie, when the shorts cover it puts upward pressure on price - not down. IMO someone is buying a new truck or something else, the MM is short and holding the price down, or the MM is accumulating shares for himself. This is not a large down volume so not a big deal. This is a very thin market so expect movement like this. Notice that the big down moves were maybe a total of 10K shares. That is a drop-in-the-bucket for the current shareholders.
Market orders in a thinly traded stock are used for price manipulation. If someone has a short position of say 50,000 shares they place a market order to sell 500 shares at market. The market drops, depresses other investors to sell and then they clean up by closing their short position. This also is used for long positions by reversing the process. Have seen this used by groups of people to manipulate prices. This doesn't work for them in high volume stocks.
An earlier post pointed out the correlation between negative comments on the board and price movement. Ya gotta watch your backside. Long term not a problem. Short term the manipulators are working us over. Keep the faith in what you know is correct and ignore the noise.
Let's not lose our prospective here. You may perceive them as crybabies but I see them as shorts. The more successful they are in bashing BORK the more money they make. Their mission is to drive the stock as low as possible. My experience in politics was that a reporter could do more damage to an individual by asking loaded questions than anything else and they kept asking over and over even though the questions had been answered many times. The damage is done in the question - not the answer! The really bad reporters were left in the dust after a successful election. They had burned all their bridges. The day of the BORK bull goring the bear is near and the rest will be history. Bearburgers will be cheap and plentiful.
On the plus side it lowers the price so longs can buy more.
For better or for worse, I would like to understand some things about GPGI. My understanding is that BORK owns all of GPGI. Is this true or not?
I spent ten years consulting for the mines in Arizona and New Mexico. After mines had worked for years getting ore out of the ground they mined their tailings using chemistry. Recovery of copper and gold out of the tailings is primarily a chemists playground. The work at the time, late 1970s to early 80s, was spraying caustic acid over the tailings and recovering value from the collected dissolved minerals. This had severe environmental concerns but yielded large profits.
The chemistry expertise is what I expect Bourque utilized to develop Kryron.
Does anyone have any information on what progress GPGI made in their quest to extract valuable minerals? Did this process get far enough along to have any promise and is there present value in what GPGI developed? Is work still being done on the GPGI process or was it all put to bed and GPGI acquired only as a shell with no intrinsic value other than the shell and chemistry expertise?
Short interest from my source, shortsqueeze.com, doesn't show any significant increase in short positions but this data is updated only once per month by the exchanges. My best guess is that short interest has increased since the last report and some shorts are having trouble getting shares to cover.
It appears that the naysayers are alive and working to short the stock. This depresses the stock price but there is a price to pay. At some point, soon, the books have to be balanced. Think of it as a rubber band getting stretched tighter and tighter. It doesn't get to the point of breaking the company very often, by driving the stock price so low the company cannot do business, but usually will result in a rapid rise and overshoot on good news.
It appears that shorts honestly believe BORK is a scam and believe that they will make lots of money as BORK stock goes into the pennies. The shorts also play on the emotions of the longs. If the shorts can depress investors, especially those who bought in at a low price, to the point of getting them to cash in profits then it becomes a short (down) market. Also, if the shorts can get new investors to shy away from the stock then the short can continue to harvest large profits. With pending results of he cert process the shorts have a small window to harvest.
For the longs this is a mixed blessing. If the longs sell on the depressed price they lose profit and permit the shorts to buy to cover at the lower price. If the longs hold on until the positive news comes out then the stock goes up and the shorts have to cover by buying. Thus, the stock overshoots the price where it would normally peak.
IMO "failure to deliver" is a good thing for the longs if you believe the stock will go up. When the good news comes out that rubber band is going to snap very fast. Any shorts would be in dire straits to cover without taking a real beating. With a fast up moving price, the short would be forced to make "market order" buys or their broker will make the buy for them when they cannot make the margin call. Last time I looked, shorts had to have a minimum of %50 of the stock price to short. Margin call is at %25 which is the point they either come up with more margin or their broker will close them out. Some brokers have larger margin requirements but the numbers I quoted are the minimum requirements.
So, pick your side of the battle according to how YOU believe after doing your DD.
Ladies, gentlemen, and others. A good company plans for success, identifies risks, and has a risk mitigation plan in place for each identified risk. I have not seen anything negative about BORK. Personally I don't spend my time thinking about how to fail but instead only about the positive road ahead. Whatever happens with cert or contracts IMO there are plenty of good positive roads ahead. As some in the past said I had blinders or colored glasses on I see very clearly, at this time, the positive road ahead.
If you find negative information let's hear it. If you find positive information let's hear it. If you are only speculating about what can go wrong IMO you have way too much time on your hands. I still suggest a good fishing trip. When you get back, Bourque will have done what he is going to do without our "help" anyway. I am absolutely sure about one thing - when John Bourque reads this board he is not going to spend time on the negative what ifs. He has a positive-success orientation and that is where the Company is going come H or high water.
Bama2 - I strongly disagree with you. BORK stock is not cheap - IT IS INEXPENSIVE. There is a difference!