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John - don't forget that $2.1B is still in the till for Ceradyne ceramic vests. The money is already appropriated for armor and just sitting there. Keep your eye on the donut not the hole. If the military wants Bourque armor then they can get it as soon as Bourque an produce it.
Flatcat is alive and well in spite of the RV.
The way to get helmets to the military is as follows:
Identify several command positions, at the col level, that will use helmets. Provide the col with several samples that are exactly like what you will deliver and do this free of charge. The col will delegate to the appropriate people to test them to satisfy their needs. The col will then put upward pressure for procurement unless he has funds already available. The col will not take personal risk by using something he doesn't have upper permission to use. After testing on the range, he will take the results to upper command and make his case. It's all about generating the pull from the troops for what they need.
I have successfully done this on $150,000 items that are alot more complex than a helmet. It works.
And, yes, you are right about not needing certification. If you have it then it helps. However, if the need and justification are generated from the commands upward, certifications can be bypassed with appropriate testing. I would concentrate on the marines and SOF first because they have a higher need and generally more leeway to work out of the box. Helo protection is also a SOF priority.
UP and UP, I certainly don't want to get off topic for this board. So let's say I want to understand the MM world so I can better understand BORK. Can you recommend a source where the MM world is explained in king's english.
Thanks.
Thanks UP and UP. I understand how my account works. I was questioning how the MM accounts work. I was looking for Goldrush or yourself, if you were a MM, to explain how MM shorts work when they get underwater like Goldrush was talking about. Is a MM essentially like a regular investor except having access to the actual market? How does the MM drive the market when he gets in the wrong way? This was the first view I have seen into what a MM's does. Just trying to understand how the underlying market works so I might be better able to understand what happens to BORK.
This doesn't look like an "efficient" market yet. Looking at the volume profile it looks like 1 maybe 2 people are selling off some of their shares for whatever reason.
This is still a very thinly traded stock so I expect significant price movement whenever anyone cashes in 100K-200K shares. Until significant progress is made in taking Kryron to market and volume moves up I am expecting drops like this as a few doubting thomas folks get wet feet or have significant personal cash needs. IMHO.
How does a short accumulate stock? Maybe I missed something in the book but I thought shorts sold stock and, if anything, would be considered distributing stock, albeit, stock they don't own. What did I miss here?
Are the MMs subject to the same shorting rules about borrowing stock, naked shorts, etc. as the rest of us? How far can the market maker go in the hole? It would seem that a MM is on a cash basis - not margin. When a MM decides the market got away from him does he just take the loss and cover or what?
Thanks for the info.
For those who stay long there is good news. The short interest is a rubber band being pulled tighter and tighter. Any good news and the shorts HAVE to cover. Price shoots up and overshoots where it should be because of the short covering. Hopefully the shorts were washed out with margin calls or got trapped because of the low volume. There will be a short funeral after NIJ cert.
I disagree with you about a strong possibility of a negative affect on BORK price. Without Bourque Alloys manufacturing what is the value of BORK? BAM was apparently the best way to get production on line quickly. If BAM was to keep some of profits then BORK would still have a percentage of something. However, from what I understand BAM will be absorbed by BORK. QED
Right now I await production like all other investors.
You may be right in that the company is not making the offer on this site and certainly we have the right of free speech. My bad.
If you read the entire post then you would see that what I expressed was my opinion based on hard experience! I further stated that I am not a lawyer and did not provide "advice".
I will continue to express my opinion as I see fit. If Bourque and company choose to listen that is their option, not mine. I will not fault their decisions because their circumstances may be completely different. I don't run the company. If I did I might be making the same decisions they are given all the data.
They don't do as you suggest because it would require a lengthy process that everyone on this board has been loath to do. As an investor, I don't have any say in the day to day operation of the Company. I can vote on a board of directors - period.
I expect Company management to make the best decision possible or known to them, to get production established sooner rather than later.
If you own BORK and value your investment then let management do what they know best. Suggestions I think are good but pushing it to the point that if management doesn't do what you think is best then you don't think they know what they are doing is not good.
Discussion of a private offering on this board, if it existed, could be construed as advertising. This would be not only a violation of IHUB TOS but could make any such offering illegal. This could stop such an offering, if it existed, and delay implementation of production for at least a year.
Sometimes you just have to let it be.
Bourque's offer concerning Bourque Alloys may be completely legal. You, I believe are absolutely right about advertising and out-of-state. If Bourque does not make this offer, if one exists, publicly and does not offer it to persons/entities outside of Arizona then the process is completely legal according to the attorney I talked to.
If you present an attorney with questionable "facts" and opinions then expect a questionable answer.
If posts about such an offering, if it existed, were deleted it would be in compliance with Investor's Hub TOS to not post anything illegal.
Here's what my broker says about this issue.
1. They will not accept deposit of restricted stock certificates. This makes sense to me, and confirmed by Fidelity, that there is no value in depositing restricted stock into an account. It is restricted and therefore has to be flagged and handled differently because it cannot be traded. The broker would then be dealing with and tracking this throughout the exchange process to unrestricted stock. They receive no value for this hassle.
2. They will accept unrestricted BORK stock certificates. It is the same as what you buy OTC.
3. Removing the restriction status is the obligation of the certificate owner. After the expiration of the restriction, the stock certificate must be sent to the transfer agent, who with the permission of the issuing company, may issue an unrestricted stock certificate. This is outlined in detail at: [url]http://www.sec.gov/investor/pubs/rule144.htm
Fidelity had no problem accepting unrestricted stock certificates for Bourque Industries. At least this is what I was told by the representative.
If you have a reference to the FINRA rule about not being able to deposit unrestricted stock certificates please provide same. FINRA rule 144 applies only to restricted stock.
Bob,
Please help me understand if these are restricted shares that are still restricted by time or restricted shares that have passed their date of restriction.
I have had restricted shares in my Fidelity account that became restricted after an exchange by the company. I could not do anything with them except have a stock certificate issued to me. In this case they were worth $0.24 total and I just wanted them off my ledger.
If one obtains restricted BORK shares do you have to wait for the time restriction to expire, then exchange them through the transfer agent for unrestricted shares that can then be deposited into an account? Just trying to understand.
Thanks.
Open communication to John Bourque and fellow investors. Maybe you already know all of this but I thought I would pass on the results of experience. I included investors in this communication because it should not compromise any of Bourque Industries strategies but gives glimpse into some of the considerations necessary to take a product to the DoD market place and still make a profit.
After all the "discussion" about patents, performance, production, certification, and all the other tidbits, there is one thing I would plead with you to trust me on: DON'T TRUST THE GOVERNMENT CONTRACTS PEOPLE. If it is not in writing, and signed by both parties, it doesn't exist.
One of the most valuable assets of Bourque Industries is Intellectual Property (IP).
It is imperative that Bourque Industries carefully and meticulously document not only what the IP is, but all of the Bourque funds spent on development and the development timeline. This needs to be done before you accept a government contact that has any funding for development/product changes. You will need this later down the road as a basis for really good profits.
The customer will ask you to develop a data package for your product and they usually pay for this. Since they paid for it they own it! Any changes or development of enhancements to the Bourque product they will gladly pay for - then they own it. Each time they pay for development, if it involves IP, BORK/our portion of the IP shrinks. And, keep Bourque proprietary processes out of the data package. If you have to give in anywhere get something in return. There is no free lunch in government contracting. There is always an "honest Abe" can where visitors are expected to deposit the value of their lunch.
This IP stuff becomes important in two major areas: first when you negotiate price, make sure there is a license for use of the IP that you get paid for. This is not part of the profit dollars but a license fee. Second is when the government wants a second source for Bourque products. It could be in the US or foreign. They horse trade this kind of stuff all the time in the "offset game". This second sourcing happens down the road and hopefully you will have all your IP documentation and will have maintained clean Bourque funds to maintain the IP. Any second source will have to obtain and pay for a license from Bourque Industries. Don't neglect this - you can't fix it later. If Bourque Industries blows this, the government can and will take "their" data package and compete it on the open market!
If it goes to a second source, then you are entitled to royalties/license fees for use of Bourque IP as part of the data package as long as you can prove ownership and its' value. In some cases you can make more profit off of each item sold by the second source than you can make on your own production. Even the big boys have screwed this up on $500M+ programs. License fees can be a great revenue stream.
And last, watch out for the "letter contract". For a new company it is enticing to get the government money flowing quickly, but if you accept the letter contract you give up a significant part of your negotiation advantage. The negotiation will drag on and on because the customer is already getting what he wants.
So, investors, sometimes it takes significant time to get the right contract in place. This is all done behind the scenes and NO, you will not know when or what is going on. You see it as Bourque dragging his feet because you are looking only at your share price that is not going up as fast as you would like. If you pride yourself in doing DD then understand that Bourque also has to do his DD and it is much tougher than yours. Live with it - this is how the business works.
When Bourque and company go into the lions' den they can expect the lions to look like foxes - well dressed, smiling, and telling you they are there to help you. The foxes can't legally buy your lunch, you can't legally buy their lunch but it perfectly legal for the foxes, after lunch, to take away your lunch money for tomorrow in negotiations.
Disclaimer: All of the above material is contained in the public domain except for the screw ups which are never in the public domain. I am not a lawyer and any information contained herein is not to be construed as legal advice but only a voice of experience.
COTS = Commercial-Off-The-Shelf. This means you make it to your specification, under your rules, and if Uncle wants to buy it they buy it as designed and manufactured. If someone wants something different then you are back to a contract. Remember COTS - no limit on profit. Contract - limited to 10% by FARs.
Bourque should sidestep the whole DoD issue and sell his products as COTS. The military can purchase, no obnoxious T&Cs, get paid quicker, no DoD oversight, much lower cost of sales, and probably alot of other advantages. DoD will perform a RI on product delivered and at their expense. You only have to certify that you meet your published specification. It's a trade off between whatever security you think you have with a contract v.s. COTS. Bourque would have to stock a little deeper but COTS would cost way less in dollars and headaches than government contracts. Stock price would likely go up sooner with a contract but not as high as with COTS. AND - there is no limit on profit with COTS as their is with a contract (10%).
Gentlemen, where are the real chicken farmers. Me thinks the eggs are being counted by the fox.
Please, let's at least use ballpark realistic numbers. $1B is a doable delivery if Bourque had his ducks lined up. If there were a Bourque/US Gov't contract for $1B, a reasonable amount, and the government utilizes already appropriated $2.1B for body armor which is not spent. At best that comes out to $4 per share profit on one contract.
There is a federal statutory limit of 10% profit/fee on a federal contract.
To be successful Bourque needs ongoing sales and he must fund R&D for future products. So you would not even see earnings at $4/sh. But, again that is on only 1 contract.
The Army wouldn't make Kryron the standard. What they would do is make the performance of Kryron the new standard. "Performance of Kryron" is not to be construed as the ultimate performance of Kryron. They usually do not put the standard at the limit of product performance. They will put one performance level as the required with a second performance level as desired.
The order of spec requirement levels:
Ord (ultimate specification)
Final Acceptance (better than Ord requirements)
In Process/subassemply Acceptance (better than final acceptance)
Process Specifications (better than in process tests)
Design Specifications (better than process specifications)
Material Specifications (better than design specifications)
This is where Kryron specification would enter. It has to be good enough to be degraded by product design, manufacturing processes, material supplier variations, test errors at all levels, pass final acceptance within test error analysis limits, and finally be good enough to meet the ORD requirements.
Performance of a material is lost during the design and manufacturing processes. In addition, the design process has to take into account variability in Kryron from batch to batch. Kryron will have a material specification. All Kryron batches will not be the same. The objective for manufacture of Kryron is to get all batches, with a variability in performance, to meet the Kryron specification. This requires Kryron manufacturing to be tightly controlled including the characteristics of every material that goes into Kryron. The variability of each material that goes into the manufacture of Kryron will affect Kryron final acceptance. That is why manufacturing a "deliverable" product is so much more difficult that producing engineering prototypes. If any one of the component manufactures have a problem on their production line with quality control then Kryron cannot meet its specification.
This process is known as tiered specifications and tiered test limits. The further you get away from the shipping dock the tighter the specifications have to be. The objective is for the product to pass every level of test with some margin.
The specification I expect to see is a Terminator Body Armor like performance specification without reference to Bourque Industries or the Terminator line of body armor. This specification will not be as good as Kryron because it has to be designed into a product, manufactured and final acceptance tested. This specification will be at the ORD level which cannot be the same as Kryron or it could never be manufactured. Processes and tests are not perfect but are well known and understood.
Bourque has the opportunity to write the new government specification. If you write it, mark it draft, and hand it to the government, they will spend their time reviewing and approving rather than trying to write a specification about something they really don't understand. If you write it for them, they will be most happy to put their letterhead on it and show the boss what a good job they did. If you get what you want in the specification you really don't care who gets the credit.
Our company sold primarily to Air Force and Navy with a few items to the Army. In every case, the product specification was unique to that product - and in every case we wrote the specification. We always started with an Operational Requirements Document (ORD) which was very general requirements but had to be met. From the ORD we developed the product specifications which always had to be approved by DoD. There is a specification for every piece of the product. Subassemblies have their own material, process, and test specifications. Once approved they are placed under full configuration control. A spec like NIJ would only be referenced as a requirement. Each requirement had to be traced back to the ORD or any other referenced requirement document like NIJ cert requirements, material, process, etc.
After we shot the design engineers, the production engineers were in charge. (Design engineers never want to quit tweaking) Acceptance test requirements referenced everything the design engineers used plus the processes and procedures for incoming material test and inspection, in process test and inspection, and then final acceptance test followed by a final compliance and workmanship inspection. This is only the tip of the iceberg in manufacturing for DoD.
I expect that DoD will accept NIJ requirements but do their own testing to NIJ requirements. The Man doesn't want to risk his star without absolute assurance that the product meets spec. In some cases DoD would take a spec like the NIJ spec, put an Air Force logo on it and reissue it as an Air Force spec. This way they keep configuration control regardless of what NIJ may do. Bourque will most likely write his own specifications that will include NIJ and DoD ORD by reference.
I don't think most people realize what it takes to get a DoD product out the door.
Mike, I tried looking into what DoD uses for a specification. The path always goes back to NIJ. The NIJ spec may be the only spec.
The volume you see is the OTC exchange volume. The total volume is what comes across the ticker, summed over the day. I don't know of any place you can access the total volume except for software that captures every trade off the ticker. The only help I have found is software that captures each trade, dumps it into a fixed price bucket and lists the volume at each price. It is not my computer doing the capture or filling the buckets. I have to add up the buckets to get total volume. This information is based upon what I was told by an account specialist at TDAmeritrade.
For those wanting to learn more Google "Dark Pools" or "Dark Pool Trading". There are many debates, explanations, political posturing, and an abundance of outright lies. This true swimming with the sharks.
To the best of my knowledge - yes - they count. They are reported on the ticker. Will have to do some more research to absolutely verify the status of these trades. According to the brokerage house I spoke to they do count. I don't believe what anyone tells me until I can verify from other sources. Remember, most of these people are in sales. How many sales people have never told a lie? I am hoping someone on this board has some experience in this area and can shed some verifiable light on this subject.
I did some more research and found that there are openings for you and me to trade the dark pools, as well as any broker. Call your own broker and see if they will give you access. The average dark pool trade with Goldman Sachs is 500 shares. They claim that these are child trades and they are protecting parent trades. Most brokers have access to these markets.
Bourque is probably shopping the states, counties, and cities for concessions (tax, facilities, etc.). Prior to committing to a particular location. Manufacturing companies usually shop several cities and counties in order to generate a competitive environment. This takes a little time but can really help a new startup financially. In some cases governments will sell low cost bonds to help an industry.
Questions for the ORB:
Interesting that report on facebook says Bourque is already making helmets.
Do helmets have a different certification than body armor?
When NIJ releases the Bourque Industries applied for certification is it for a finished design of body armor or for Kryron as a material. I suspect it is for a finished item.
Was NIJ certification requested for both body armor and helmet or just body armor?
It would make sense that helmet manufacturing is already in progress if the certification included the helmet, AND the higher priority for DoD and/or police is the helmet, AND there are funds available to purchase of the helmets as soon as NIJ cert is out. This would be a rapid path to revenue.
I think Bourque may concentrate on the most profitable product first. Here, profitable could means income or the ability to grow the company. It might be the helmet over the body armor. I am sure they have smart people who look at all the facts and decide what to do first.
Some seem to think Bourque should should have finished everything yesterday. If you have successfully managed a $100 million, or above, program with DoD from design to production then I think Bourque might listen. Right now, they appear to be doing most things in line with what an experienced program manager would do.
Grasshopper has limited view because of forest of grass. Volume is doing well today. Total volume 139164 as of 1152 mountain time. Today, so far, there has been 95264 shares traded that you didn't see!
$4700 is pocket change. I respect your right to express whatever you want. I have learned that the process of upgrading the tier is a lot more complex than writing a check. I suggest you go to Pinksheets.com and see if you can understand the tiers and the process. If you can understand and can reconcile those with how BORK is classified please explain it to the rest of us.
The bottom line, as I see it, is that Pinksheets is extorting BORK for $4700!
Here I thought John Bourque was a dork nerd that only spoke Kryroneze. I find it refreshing that he is not only business savvy, very smart technically, but also has a human side.
I don't expect John Bourque to solve all the business problems overnight. I invest because I think the stock will go up with time. If you really think Bourque has his priorities all messed up and doesn't know what he is doing then you can short the stock and call it a day if you really believe this is not real.
Post was positive. Perhaps I did not express myself very well.
First, I have nothing negative to say about BORK. I have privately poked at everything I could think of and still come up positive. I firmly believe that BORK is the once in a lifetime opportunity of being at the right place at the right time.
My concerns are about other things I see. Go to Pinksheets.com and read the list of tiers and the criteria for placement in each tier. This is the first place I smelled a rat. BORK is placed in the lowest tier without justification. The criteria for this lowest tier is you almost have to have one foot in jail. The next tier up is the "grey market". Read those criteria and BORK doesn't even come close to being that low. BORK should have been placed in "PINK - no financial data" unless there is something we don't know. This led me to look further about why Pink Sheets would misclassify BORK.
Then I observed the dark pool volume approximately equal to the exchange volume. This is usually the big guys ball park - hedge funds, banks, institutions, etc. But why would a fund use the dark pools for such a low volume? BORK would certainly be a good investment for them.
So, next I poked at how I could get access to the dark pools to trade as an individual investor. There aren't many companies that will give access to the pools but there are some. If I pay an access fee I can trade with the big guys. The perceptions of others on this board is DP trading is limited to only the big guys - NOT. Perceptions are usually formed by corporate "word-speak".
When you read Pink Sheets classification of BORK it begs the question of why would someone make such a glaring "error". I am only asking questions at this point trying to find out why things are not they way most people think they should be. I have now established that there is a path to possible intentional misclassification of BORK by someone in Pink Sheets and their subsequent cashing in on the depressed market. When they accumulate the number of shares they want then "I am sorry, we made a mistake - clerical error!". Meanwhile they make huge gains as the stock skyrockets up on the new classification.
I understand why there are no financials out for BORK. If it were my company I would do the same until there were solid positive cash flow to report. Most people do not understand "start up" financials. There is no reason to provide data that would only result in misguided investors causing no end of racket. Bourque, IMO, is doing everything right.
In stock trading I have learned to question everything. When someone tells you something consider the source, know that it is a perception based on previous input that may be flawed, and when someone draws a conclusion, what are the facts. I am in fact-finding mode, more questions than answers, so please don't be offended about my off the wall concerns and questions.
I appreciate all on this board that provide their perceptions and the timely research and DD that is shared. My mother taught me that if it looks like a duck, quacks like a duck, walks like a duck then it probably is a duck! In this case I am smelling a rat and my perception is the rat works for Pink Sheets and is trying to steal my cheese.
Something is rotten in Denmark. What you are saying is the standard "party line" of the exchanges on dark pools. Yeah, I read that garbage too and NO it DOES NOT MAKE SENSE.
Are you suggesting that right now, institutions are buying, or selling, BORK in the dark pools.
The point has been made by other posters that lack of financial information was critical to institutional interest in BORK. Are you implying that this is not true and institutions are already purchasing BORK without financial information or is the financial information only available to select institutions and not us at this time?
Yes, it does matter to serious investors. Maybe we can't control it but we certainly should be aware of it. Are you saying that price and volume are really not important to our investment decisions? Organized crime syndicates, at their best, usually are not this good. This doesn't smell like institutional trading. To me this stinks of hidden manipulation and trades.
Add to that what Pink Sheets has done to BORK! They do not follow their own rules of stock classification, as published on their website.
My conclusion at this point: Someone is systematically trying to make BORK stock look like a poor investment while they buy a large volume of stock! Look at the opportunity for a single corrupt employee of Pink Sheets: Intentionally mis-classify BORK to make it look bad while quietly purchasing BORK stock under the table. This would be an absolute diamond mine for such an employee. The tracks are there. I choose not to ignore them.
The exchanges try their best to not let anyone see what is going on under the table. The are however, required to report transactions on the ticker in a timely manner.
To monitor dark pool trading it is necessary to monitor the ticker during the trading day and monitor time and sales as reported by the exchanges. This information is available most data feeds. Extract each reported transaction for your stock of interest.
For real time, compare each ticker reported transaction to the time and sales data reported by the exchange. The exchange reported data is what most software packages will display. What you will see is the volume reported on a quote does not include all of the ticker reported transactions.
Some software packages will display exchange volume data, on a cumulative basis, if you display on a daily basis and at the same time will display volume at each sale price on the time and sales display.
At the end of the day total all of the T&S reported volume for each price and compare to the total shown on the chart software. You will find that there is a huge discrepancy between the two. According to a specialist at TDAmeritrade, the difference is the "dark volume". Dark volume trades were reported on the ticker, as required by the SEC, but the trading exchanges do not include these transactions in what is provided to investors.
FYI Todays' Volume
Total Volume = 565800 (includes all sales over the ticker)
Exchange Volume = 190587 (what we see)
Dark Pool Volume = 375213
There has been a lot of grumbling and griping about BORK share count and financials. If I were Bourque I would not be publishing financials at this time. We all know what they would look like. All outflow and no income. Personally, I would like to see the first financials after NIJ cert and announcement of pending POs at the earliest. Right now it doesn't take a rocket scientist to figure out what the financials look like. Give it a break and wait for the good news.
As far a share count, I really don't care how many shares are issued, float, owned by Bourque, restricted, or whatever else. What matters is share price, how many I own, and the ability of the market to sell me more or buy what I have. Anything information beyond that is superfluous redundancy. Let the cook make the brew and don't gripe until you taste the finished product.
RockQQ - According to TDAmeritrade they said "most likely the additional volume is trades directly with the company".
It bothers me that we really don't know what volume is being traded. I see just as much volume off the exchange as on for today! I don't know where to get historical dark pool data. Just the way the cookie crumbles.
There is another market for BORK stock and we don't get to participate! See this link for information on "dark pools":[url][/url][tag]http://www.marketswiki.com/mwiki/Dark_pool
Now I would like to know if it is Bourque Industries selling stock via the dark pools, how much volume has been going on that we didn't know about, and who is privately buying BORK?
Interesting discussion I just had with a trade desk. According to their software the daily volume shown on the chart display agreed with IVH displayed volume. However, on the trade screen an additional 56,074 was traded at $3.75 but not picked up by the chart. According to the specialist the reason for this is that the volume on the chart and as shown on IVH is what is reported by the exchanges. The extra 56,074 is from the "dark pools" which the specialist says is traded direct with the company.
Can anyone shed light on this subject. It looks very dark in here.
It's a stretch right now but if Kryron will hold up in the harsh environments, airplane props and turbo engines made from Kryron are good candidates as are power plant turbines.
I think the biggest potential for Kryron could be automobiles and automobile engines. Lighter, stronger, increased gas mileage, less maintenance, safer, and the list goes on. The higher the quantity, the less the cost.
KZmike - please consider the following link for addition to the ibox. It gives a good insight to Bourque history and confirms what others have said about the long time to get NIJ cert. This is the second round with NIJ so apparently Bourque did have to tweak the application.
[url][/url][tag]http://www.istockanalyst.com/article/viewnewspaged/articleid/5191168/pageid/1
Repost of links.
Sorry about that. Didn't realize the extra tag on the end didn't belong.
[url][/url][tag]http://nanopatentsandinnovations.blogspot.com/2010/11/carbon-nanotube-combat-armor-under.html
[url][/url][tag]http://news.ncsu.edu/releases/162mkzhu
Jon & Bob thanks for the excellent discussion on these items.
In the unknown risk category I still have some concern about the following two links, maybe others, and if Bourque can sustain his patents and his capture of this market. Looks like there will be a furrball fight down the road.
[url][/url][tag]http://nanopatentsandinnovations.blogspot.com/2010/11/carbon-nanotube-combat-armor-under.html[/tag]
[url][/url][tag]http://news.ncsu.edu/releases/162mkzhu/[/tag]