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Doing nothing and waiting for the PPS to drop to 1/4 penny.
Then BAM ... Ironridge conversion ... KRYRON gone ... Your investment gone.
Game plan executed.
Then they move on to chapter II of the story.
Clean new corp. ownership of KRYRON ... not even a hint of JB.
Real scientific testing and validation begins. Money from heaven (Swiss Dynasty Trust & Full Circle Trust) arrives to fund such activities. CJ Condon re-appears along with Berry in admin roles.
Testing and validation returns spectacular results. They launch an IPO. JB gets out of prison and some how manages to acquire a
substantial stock position with his identity shielded by "Trusts"
New patents are filed for the "Real Kryron Technology" which was originally to have been already transferred to the now defunct
Bourque Industries. Now all the big boys of the industry are lined up outside the doors of the "New Clean Corporation" aptly
named Ironridge Technologies, Inc. to be able to buy into
Kryron as it has now been validated as the new game changing
technology for multiple applications across several industries.
We get run over by the bus and left in the dust. Ironridge,JB,
Schizzler, Condon, Berry and crew end up with more money than
the Mexican drug cartels.
And all this leaves Sean "Chuckles" Floyd steaming as he got kicked off the team and really can't say anything because it could land him in the "Big House" with those that kicked him off the team. So, he is just taking wedding pictures ... and fuming about it 24/7.
Would make for a great movie/book ... but nothing but zeros for all us current shareholders.
really ... He set up a plan? What plan was that? Show me the plan
as I and many others would like to see the plan. Was it the kind of plan that was designed to fail. Was it the kind of plan with benchmarks that could not be achieved.
Why did BORK issue 15,000,000 shares on Convertible preferred stock to Ironridge ... AFTER IRONRIDGE DISCONTINUED FUNDING?????
ASchizzler walked away after transferring a massive amount of stock to Ironridge. From what I could find ... there were no limitations on the conversion of the 15,000,000 convertible preferred shares except that they are redeemable towards the purchase of common shares at .04 per share.
So, assume BORK now trades for .005 per share ... you can convcert 1 share of preferred into 8 shares of common stock.
Now ... suppose BORK mgt does absolutely nothing and the stock price drops to .0025 per share. Then Ironridge can convert and have majority control of Bourque Industries.
Oh, and go back to the last financials provided by BORK. You will see a mysterious issuance of an additional 15,000,000 shares of
common stock to Ironridge. And for what? ... Gee whiz ... we have no idea. That right there could be the chunk of stock Ironridge needed to seal the deal to make sure they could take control of BORK Industries and all of KLRYRON.
Sure is quiet over there at Bourque Industries these days. No one is working!!!! No one is doing anything!!! Wonder if any one is even going over the the UPS Store to pick up the mail from their rented postal box.
Nerdus ... the convertible preferred shares are redeemable @ .04/share towards common shares.
So, 15million X .04 = $600,000 worth of common stock.
So, why would BORK advance this many shares to Ironridge AFTER
Ironridge had discontinued funding BORK. According to the last financials ... the stock was issued about 8-13-13. Very generous
gesture on behalf of BORK mgt.
If BORK stock drops to 1/4 penny per share ... they can convert
the 15million into 240million common and have controlling interest in BORK.
Also if you look at their last financials you will also see an additional 15 million common shares issued to Ironridge. For what reason ... I have no idea unless BORK wanted to make sure Ironridge would have enough shares to take control of BORK and KRYRON.
All BORK mgt has to do to allow Ironridge to take control of BORK is nothing. That way the dtock will flounder and eventually drop
to the take-over price per share and thewn the game is over.
Just hope you didn't get in too deep.
WOW ... what happened to the Ironridge funding that MR. Wonderful arranged. Mr Wonderful being Matt Schizzler who never did anything wrong.
Remember Ironridge was going to fund on the 1st of every month, but stopped for some reason after receiving 15million shares of convertible preffered stock in one lump sum back in August.
But wait a minute ... Didn't Schizzler say that the stock would be issued as funds were advanced to Bourque. Then after Ironridge stopped funding ... for some reason BORK issued the 15 million shares. Why would BORK issue the stock in total after the funding stopped??????????????
This should have raised some eyebrows.
And where did BORK come up with the 15 million shares of convertible preferred shares to issue in the 1st place.
Doesn't seem like the stockholders are very upset after being thrown under the bus and being left in the dust.
Is anything going on at BORK???
Is C. J. Condon doing anything????
Is Sandy Berry doing anything????
What about the part timers ... what are they doing?
Or are they all sitting around waiting for the Ironridge conversion???
JohnII if you are still reading the board ... chime in and let us hear what you know. Who is still active at BORK? C. J., the attorney, Berry or who else is still around????
Bad news always travels slow.
jsmoo ... I'm all ears. Please share the rrest of the story.
Gotmilk ... your speculation is possible but it hinges on the assumption that JB is a good and honest man who got trapped. That is a stretch in my view.
They found out early on that they would have to spend millions on real and specific scientific testing and validation before anyone would want to make a deal with BORK. They also found out early on that any company that had contracts and hi level security clearances with the US Government would risk loosing their security clearances if they dealt with BORK because of JB's criminal history.
So, they had to resort to the "dog and pony show" type of demos
to push interest from individual investors to drive the share price up so they could unload their stock. The more stock they could transfer to themselves the more money.
Now there were plenty of folks interested in KRYRON. But since BORK had not done any "real" scientific testing JB could not answer basic questions ... for example in the tactical armor he had no idea what the thermal transfer rate was for different thicknesses of KRYRON was. That relates to the amount of heat generated upon impact. That is extremely important in the armor industry.
Then if you were going to cut, weld, modify shape and bolt on
the KRYRON ... JB could not provide the specific properties of KRYRON so potential armor companies could determine if the KRYRON would be suitable for their applications of the KRYRON for tactical armor. All of the big boys in the armor business very quickly lost all interest. Then add the criminal element on top and BORK and KRYRON became toxic and very risky to do business with.
Then on top of all this ... the "Enablement clause" in the patent regulations will nullify any patents BORK holds for the KRYRONIZATION process.
Now JB and Crew knew all this very early on and being that they wanted to make some big money off of KRYRON ... their only option was to resort to some very questionable (possibly illegal) stock transactions.
Then knowing the only way to monetize KRYRON now would be to get JB out of the picture ... thus came the "Lock-out Agreement" which did not work and was not fully disclosed.
Finally they can to the conclusion (same conclusion those in the industry came to a long time ago) that they needed to get KRYRON into a new and completely clean Corp. structure with no hint of JB being in the picture. And this is where Matt Schizzler and Ironridge came into the picture. Do the toxic "death spiral"
type of financing with a massive transfer of convertible stock
which would allow Ironridge to take control of BORK upon conversion of the stock. Sell or otherwise assign the KRYRON rights to another Corporation. Then refile the patents correctly,
do the in depth scientific testing and validation ... and what do you know ... wa-la they are ready to launch a legitimate IPO
and they will have more cash than a "Drug Cartel"
This is very relevant to the "Magic Dust" that is the basis for all KRYRON applications
2164.01(c) How to Use the Claimed Invention
Maybe, maybe not. He thinks he is and wants people to think that
he is. Many people in the tactical armor industry think not!!!
And a felon he is ... armed robery and multiple felony DUI's. For that reason he is toxic for any company that wants to do business with the DoD.
I personally think he has never been BORK!!!!!!!!!!!!!!!!!!!!!!
chikimba2 ... you may be correct. However the sad truth is that BORK does not have the technology to derive any benefit from it.
JB did not transfer the KRYRON technology to BORK ... he only transferred the patents which are bogus as there are some missing ingredients and processes that are required to produce the "magic dust" necessary for the KRYRONIZATION process.
Thus ... BORK has nothing.
Go ahead and jump in with both feet my friend. It's your money.
But you might find your feet landing on a hot bed of burning coals.
mdb1 you are absolutely correct. And I may have posted this
before, but here it goes again.
-JB is a paraniod control freak with felony convictions for
armed robery and multiple felony DUI's.
-The patents he filed for all the KRYRON were bogus because
some necessary ingredients and processes were missing. JB was afraid someone would steal and use the KRYRON cutting him out of the deal unless he took expensive legal measures to protect his baby.
He found out very early that no major entity that had contracts with the DoD would deal with him because of his criminal history.
You see if they were dealing with JB, it could jeopardize their high level security clearances they have with the US Gov.
Another reason none of the major tactical armor companies would deal with JB on any basis is because JB was unable to discuss the
property and specific proccesses involved in making the KRYRON
powder. This is important because these companies need to know
cut, reshape or modify the KRYRON for specific applications that
are in a continuous state of change depending on a changing need.
So, in any event JB still needed to monetize KRYRON ... so here
comes all the questionable stock transactions and the back door deals. Do an audit of all the stock for services. You will find
money under the table coming back to pay for the lifestyles of the many BORK Crew members past and CURRENT.
Remember the reverse triangular merger sometimes referred to as the "Great Dilution of Sept. 2011" ... well that is where JB
has admitted, if only to himself, that this fraud won't be able to go on forever and at some point the feathers will hit the
fan and that he needs to have a way to keep his KRYRON safe in
a holding tank ...so to speak.
Let me back up a little. With 10's of millions of dollars safely
tucked away in the "Full Circle Trust" to be used at a later day
and all the crews living expenses and lifestyles being paid by the "backdoor cash" from the stock issued for services then they need a way to transfer the KRYRON to a new and clean corporate structure that they will be able to participate in later when they re-launch KRYRON the real and traditional way.
OH, my, and wouldn't you know it ... along comes Ironridge and Mathew Schizzler. The perfect combination. Find a way for Ironridge to control BORK. JB is in prison. Ironridge converts all their preferred stock. Bork does not have enough stock in the treasury for the conversion so BORK has to give up assets to
cover the redemption. WOW the KRYRON goes to Ironridge.
Ironridge does not have the technology to make the "magic dust".
For those inquiring to Ironridge as to the status of KRYRON ...
they are told that Ironridge is in the process of detailed and scientific testing and validation which of course takes much
time. And this time they are doing it the correct way in order to validate KRYRON for all these unlimited applications. However this is just to buy time. Also they may launch an IPO to raise capital for all these so called research efforts, which of course will take a great deal of time as they must be diligent in proving KRYRON to the scientific community in order to advance it to the market.
Finally JB gets out of prison, Ironridge is continuing to hold and safe guard his baby (KRYRON). He assumes a silent and unseen postion in the new KRYRON entity and brings the real KRYRON
technology to the new and clean corporate structure. Then the new corp. files for new and correct patents to protect KRYRON.
Now they are armed with 10's of millions of dollars,valid
patents and now KRYRON comes to the market and is truely a game changer and the BORK Crew, Matty Schizzler and Ironridge clean
up and make a bloody fortune all over again.
Anybody think they have anything they can add to enhance the real story, I'd love to hear it.
However the story doesn't necessarily have to end this way
because there is always the possibility that someone may throw a wrench in there that may stop the wheels of corruption in it's tracks. Ya think???????????????????????
But otherwise masterfully planned and executed way to monetize
KRYRON at the expense of the common shareholders
I don't think it will be trading in a year. And I'm looking forward to a few of JB's crew members join him for an extended stay in the big house.
gotmilk ... you got me to thinking. So, I did a little checking
because I, like many here, as well as other stockholders think they have been defrauded by BORK.
And it is evident that BORK does not have the technology to create KRYRON in any form. Now if they have possession of the secret KRYRON powder (magic dust) they can kryronize things. But
without the kryron powder they can not kryronize anything. So, they do not have the KRYRON technology which they said they have.
Is this fraud? If BORK can prove they have the technology to create the KRYRON powder there is no fraud. However if they can not produce the KRYRON powder you have fraud.
Proof that BORK should have the technology to produce KRYRON powder:
This is from page 22 of Bourque Industries Annual Report of May 31,2012. Read the last 2 sentences 2 times to make sure you understand what BORK told us and why many invested their hard earned money in buying the stock.
PART F: EXHIBITS
Item 18
Material Contracts
The issuer is a party to multiple license agreements whereby the issuer is granted the right to manufacture “Kryron,” the additive that gives such metals as aluminum, lead, copper and other metals their extraordinary hardness and increased conductivity. The issuer is also a party to a license to manufacture and distribute all of the issuer's Kryron infused products, which includes the armor ballistic plates and panels. The grantor and assignors of the licenses are Kryron Global LLC, the owner of all of the Kryron intellectual property, JBIT, Inc. and Bourque Alloys LLC. As of the consummation of the Company's acquisition (described below) of Bourque Alloys LLC, Bourque Alloys Manufacturing Inc., Kryron Global LLC and Basalt Fiber Technologies LLC, the above referenced license agreements are terminated and merged into the issuer through common ownership, and Bourque Industries, Inc. will own all rights to Kryron and its technology.
There is merit in what you say here. Also after JB went to prison
new interim CEO Sean "chuckles" Floyd was expecting a big paycheck from the Ironridge funding which resulted in 15million shares of convetible preferred shares being issued to Ironridge for the initial $55,000.
Why would interim CEO leave BORK a week before receiving a big paycheck???????? Hmmmmm?
OH, it is real alright. However no one at BORK knows how to make it. The patant info that was filed was bogus and missing some ingredients and proceedures. The former CEO is in prison for DUI
and has a previous conviction, I believe, for armed robbery. The big players in the tactical armor industry won't deal with a convicted felon as that could jepardize their high security clearances with the US Gov.
So, BORK put on these demos to garner interest from investors to drive the stock price up. Then enriched themselves thru questionable stock transfers.
Now BORK is in the process of transferring control of the company to a "death spiral" type of financing company. They are probably set up to get a piece of the pie from that company (Ironridge)
and when John Bourque gets out of prison he will likely show up as some sort of a silent partner in the new entity that controls
the Kryron intellectual property rights. The new entity will then re-file patent info that is correct. Then this new and clean
entity will then launch an IPO and probably make a ton of money
leaving all the original stock holders in the dust holding the bag.
What we, the few investors/posters here are trying to find out is how we can stop the train wreck without blowing it up.
Any thoughts on how to save this KRYRON for the original shareholders would be very welcome.
Bottom line ... it was a very well planned and executed scam from the get go.
You are correct mdb1 ... and the witching hour is soon approaching. That is when the Ironridge conversion of their
15,000,000 shares of preferred will give control of BORK to Ironridge. And a big thanks for that goes to JB's good old friend Mathew Schizzler.
Next question is who is Ironridge going to give KRYRON to????
What you should be concerned about is Schizzler shipped off $600,000 worth of BORK stock for a measly $55,000. And if they choose to convert that stock then Schizzler just sold controlling interest in BORK and KRYRON for a mere $55,000. What a steal of a deal for Schizzler to get credit for.
Now tell me how was that good for BORK or it's stockholders?
If nothing else, it should make you feel as if you just got ripped-off ... that is if you are a shareholder who doesn't want the only asset BORK has to be stolen for a piddly $55,000.
There are probably quite a few investors here on this board that have invested more than that into this company and have zero to show for that investment.
So, now comes good ole Schizzler who is yet to be charged by the SEC for his mis-deeds and he swiftly transfers $600,000 to Ironridge for only $55,000. And this $600,000 worth of Stock can convert to a controling interest in BORK. WOW ... I'd love to be
"a fly on the wall" and find out how big of a commission Schizzler got for that stock trans-action.
Spell-check won't help corrupt people be honest
Why are you trying to defend Schizzler?? He is the one who just drove the nails into the "BORK coffin" with the 15million shares of convertible preferred stock worth $600,000 for a measly $55,000. And upon conversion can be redeemed for a controlling interest in BORK. Then followed that with another 15,000,000
shares of common stock just to make sure control of BORK will belong to Ironridge.
In other words that may be easier to understand ... SCHIZZLER JUST GAVE KRYRON TO IRONRIDGE FOR A MEASLY $55,000. GAME OVER AND YOU, IF YOU ARE A BORK STOCKHOLDER JUST WATCHED YOUR INVESTMENT
REDUCED TO "ZERO".
like I stated in an earlier post:
-When the price of BORK drops to .0025/share (1/4 cent)
Iropnridge can convert their new BORK convertible preferred stock into 240,000,000 shares of common stock.
-Then add to that the additional 15,000,000 issued to
Ironridge by Schizzler in August (for what we don't know)
and then Ironridge will have majority control of all outstanding BORK common stock.
Nothing to be concerned about ... because it was really JB that did all the damage a long time ago. And since the SEC hasn't jumped in Schizzler must be a good guy performing his fiduciary
reasposibility to the sharte holders.
That is like when you see smoke coming from your neighbors house and saying "Nothing to worry about ... if their house was on fire we would be hearing sirens of the Fire Dept. coming to put it out"
Wrong again Locks. The SEC does care. Currently they have bigger fish to fry along with a man-power shortage.
Don't try to rationalize that since the SEC has not yet jumped in this fray that the BORK Crew has not been corrupt from the beginning and continue to be as we speak.
There is a reason why companies that have contracts with the DoD
and high level security clearances won't touch BORK with a 10' pole. And it is not because of his criminal record either. If
John II could speak of certain things you would have a clearer picture
Ever wonder why there were always spelling errors and grammatical
mistakes in almost every PR or any public notification prepared by the BORK Mtg. Team??????
I would speculate that was done to allow many to be duped into thinking the BORK Crew was just inept with no professional skills
... that would allow many to rationalize all the blunders as not being fraudulent. Just incompetence.
And boy-o-boy did it work because every time anyone alludes to some of the BORK Crews actions being fraudulent, they are immediately challenged to privide specific proof. Of course specific proof can not be provided unless you have a comprehensive audit by outside independent auditors. Which we all know will never happen until it is all over and nothing left to fight over. And who at this point is willing to pony up the funds
necessary to bring a halt to the up-coming train re-railment.
But remember ... they didn't intentionally do anything wrong or
illegal ... they were just incompetent, inept and very poor managers ... Duh.
mdb1 ... yup, you are right. And it will continue to slip as long as there is no news or anything positive happening at BORK.
But watch what happens when the share price hits 1/4 cent per share. That is when the Ironridge/Schizzler conversion will be able to take place. When the conversion happens you will no longer have any vested interest in BORK because Ironridge will have a controlling stock position.
The conversion will be secured by the additional 15,000,000
shares of common stockissued to Ironridge in August. Remember no one could fiqure out what that was for. Well that was to insure Ironridge would have majority ownership of all common stock.
You see wenh they convert the 15,000,000 preferred @ .04/share into common that will give Ironridge 240,000,000 shares of common,
but they need 250,000,001 to have control of BORK. So, that added
15,000,000 will give Ironridge a total of 255,000,000 which is more than the 250,000,000 needed for control.
So, strap on your seat belt and get ready, it's gonna happen.
Those are very iffy IFs.
Only problem is you as a stockholder would have zero ownership interest in the newly created entity.
And I do agree with you in that Ironridge is quite competent in the "death spiral financing" that thay do.
Do you really think for one minute that Ironridge would wrap current shareholders into the new-clean Corp? Really?
Do you really think Ironridge would extend a valid offer to a highly respected and competent executive with a proven record
of success such as Robert Rieger? Not in a million years. Rieger would sink their boat in a minute and probablly turn discovery to the authorities.
And leave JB and CJ behind. You know that will never happen as those 2 have enough dirt on Ironridge to sink the ship before it gets under way.
The only issue I agree with in your post is your agreeing that the KRYRON patent is bogus.
Scorp ... thanks for posting.
And notice how they mis-spelled chief. Probably intentionally
to re-enforce the impression that they are not corrupt ... just
inept and not good management.
These guys know what they are doing and don't miss a thing when
they are trying to make you think they are just incompetent
and there is no cause to think they are corrupt. That way you can sit back and really believe there is hope for BORK to advance KRYRON.
Nice touch though ... but I don't think they are fooling many.
Just watch when the share price hits 1/4 penny for a while and all of a sudden there is a new BoD and with C. J. Condon. Well you wouldn't even need a new BoD or CEO, Ironridge could just convert, call a meeting and sell KRYRON to a new Corp. maybe by the name ... Ironridge Technologies, Inc. or something of that nature.
No need for a banckruptcy filing to see KRYRON fly the coop ...
just need to watch the Schizzler/Ironridge conversion take place
then a board meeting where Ironridge exerts their voting rights
and sells KRYRON to Ironridge Technologies. Of course JB will not excercise his voting rights on this because the KRYRON is no good without him in the picture.
Iropnridge will do the testing and validation with a little of JB's help of course, but not enough to where Ironridge can fly without him. Then one day JB gets out of the "can" and becomes a silent member of the Ironridge Technologies.
How fitting is it to go full circle with a "trust" named "Full Circle Trust". Well planned and executed ... game over/check mate!
Locks ... and if you do the 3rd grade math assuming the market price per share of BORK is 1/2 penny per share (.005/share), This would allow Ironridge to convert the 15million convertible preferred shares into 120,000,000 shares of common stock.
OH, AND REMEMBER THAT ADDITIONAL 15,000,000 SHARES OF COMMON STOCK ISSUED TO IRONRIDGE FOR DEBT ... AND NOBODY KNOWS WHAT IT WAS FOR. WELL THAT IS TO MAKE SURE WHEN IRONRIDGE CONVERTS AT
1/4 PENNY PER SHARE ... THEY WILL BE MAJORITY SHAREHOLDER IN BOURQUE INDUSTRIES.
Also, if the price can be driven down to 1/4 penny per share
(.0025/share) this would allow Ironridge to convert their
15,000,000 preferred shares into 240 million shares of common stock. And then what do you know ... IRONRIDGE WOULD CONTROL BORK
AS THE LARGEST SHAREHOLDER. Then with JB's lock-up agreement ...
who could stop Ironridge from taking KRYRON away from BORK.
Hell of a deal for a days work. And how much would Ironridge pay Schizzler for this transaction I don't know. But would allow
Ironridge to put KRYRON into a clean Corp. Then also consider that JB and Schizzler are long time friends.
THIS IS MY OPINION OF THE END GAME. JB, SCHIZZLER AND IRONRIDGE
END UP WALKING AWAY WITH KRYRON UNDER A NEW AND CLEAN CORP. AND
BRING FAITHFULL C. J. CONDON ALONG FOR HER LOYALTY DURING THE STRUGGLE.
AND YOU, ME AND THE REST OF THE SHAREHOLDERS GET TO EAT DUST.
SO THE SCAM GOES "FULL CIRCLE"
How much Ironridge will pay back to Schizzler I don't know.
But could you please explain how this transaction was to the benefit of BORK or it's shareholders.
And also explain to all of us here what will happen to BORK
if Ironridge decides to convert these shares and BORK does not have enough un-issued shares for the redemption.
Could it force BORK into bankruptcy?
Could it allow Ironridge to walk away with the KRYRON by turning Ironridge into a creditor?
Critical thinking calls for answers to these important issues.
How much Schizzler or Ironridge will keep ... it is the total loss of $600,000 for a measly $55,000.
And Schizzler was the one who was responsible for the transaction.
And no, you can't flip the numbers back and forth. The numbers are absolute and not flipp-able. It is 15 million convertible preferred shares convertible at .04/share to common stock, which allows Ironridge to purchase $600,000 worth of BORK stock.
You need to folow the money as Sean Floyd said.
Schizzler issued $600,000 worth of BORK stock to Ironridge for $55,000 worth of funding to BORK.
To clarify this further according to the last financials
furnished by BORK. Ironridge was issued 15million shares of convertible preferred stock with each share to be redeemed for
.04 towards the purchase of BORK common stock.
So, in simple math terms:
15,000,000 of stock X .04 == $600,000.00
My friend that is real money.
You may ask what BORK got for that stock ... very simply put,
BORK got a whooping $55,000. That is 3rd grade math and you don't have to follow any yellow brick roads to figure it out.
How much of it Schizzler will walk away with after conversion I
don't know, but it sure is not in the best interests of the
share holders or BORK.
You know that even a blind squirrel can find a nut once in a while. So I'll even help a little by pointing you in the right direction with 2 of the most obvious.
The biggest was the reverse merger back in Sept/Oct of 2011.
The other was the 15million convertible preferred issued to
Ironridge, concertible @ .04 towards the purchase of common stock.
That is $600,000 worth of stock. And what was this for.
Like ATL said in a recent post ... follow the money
locks ... I'm surprised anyone would find humor in any of what has just happened, except JB, Schizzler, CJ, and their sleaze
lawyers.
Seems as everything they have done since the beginning has been done to enrich themselves at the stockholders expense.
Follow the money my friend ... follow the money
So, this may be an avenue to go after JB without sinking the boat.
JB owned the patents.
JB sold the patents to BORK.
JB knew the info in the patent filings were bogus.
JB sold the patents knowing the patents were bogus. That was during the "great dilution" called the "Bam" offering and the following merger back in Sept/Oct. of 2011
That is what many in the legal community would call fraud.
The "Bam Offering" and following merger is where the big money went south and left the company.
ATL ... this post raises even more questions. Considering all
that has happened, I appreciate your coming on this board and saying anything. But it also brings even more questions and
speculation into play.
I would like to know considering:
.....You had a new BoD of credible people.
.....JB had the "Lock-up Agreement in place.
.....CJ had resigned her position.
.....There was an accelerated royalty agreement with CNT provider
.....This CNT agreement was providing cash flow for operations.
Why would you leave? Unless you knew the Ironridge Funding arrangement would be so toxic to BORK that it would cause BORK to fail ... and you wanted no part of that type of sleazy deal.
And who would be the proper people to verify past issues?
"Due to the miserable communication skills of current B.I. staff, we really don't know much of *anything* about what was/is and what wasn't/isn't at B.I."
Mute your sttement about the BORK staff's communication skills
may be viewed differently by many. I feel they are intentionally mis-represtenting what they are actually doing with the perfect
example of that being Matt Schizzler making a public statement
that portions of the 15million shares will be issued as Ironridge advances funds to BORK. Then the same day he issued 15million shares to Ironridge.
Then during the same public statement he states that the 15million convertible preferred shares of stock can not be converted and redeemed for 6 months from the date of issue. Then when you check the Secretary of the Sate of Arizona's filings you see the stock issuance document states that the holder of these convertible preferred shares may redeem those shares at .04 towards the purchase of common shares at any time after the issuance date.
THESE 2 EXAMPLES ARE NOT SPECULATION ... THEY ARE FACT.
This doesn't suggest miserable communication skills. Rather it suggests an intentional effort to mis-lead the stockholders and the public as to what is really happening at BORK. His communication was clear and easy to understand. Unfortunately
the statement was not true.
Scorp ... as to the math of 15,000,000 shares X .035 per share
comes out to $525,000 worth of stock at the date of issue.
However the conversion rate is .04 per share, so at the time the stock was issued it was worth $600,000 for advancing $55,000.
That is one hell-of a-days work, if you ask me.
If they do a deal iike this every month ... WOW ... BORK is going to history FAST.
In my opinion that is corruption big time and thrown right smack dab in our faces.
That is not a typo, poor judgement, mis-management or anything of that sort.
Scorp ... he issued 15million shares, convertible @ .04 towards the conversion to common stock.
That comes out to $600,000 worth of stock. So, at that conversion rate and todays share price of +/- .0075 per share, Ironridge today can redeem their convertible preferred stock for 80million shares of common stock.
Problem is ... according to the recently submitted financials,
BORK only has +/- 60 million shares left in the treasury to issue.
Now my questrion for you is ... what happens if they redeem all the shares now (as they have the option to do) what happens when BORK can not comply with the redemption.
I don't know the answer to that question, but it bears looking into as it could be devasting to BORK and it's minority shareholders.
Scorp ... Schizzler issued all the stock to Ironridge on 6-10-2013
which was the sme day he made the statements in the PR. So the violations of the terms of the funding agreement was done by Schizzler before he left the company.
Or he flat out lied in his PR of 6-10-2013.
Whether or not Ironridge has redeemed any of the shares ... I don't know, but it is worth looking into.
To announce publically that the stock would be issued incrementally and then turn around and issue all of the stock after receiving only 1 monthly funding towards to total $7.5
million of funding is absolutely not in the best interests of the stockholders.
Scorp ... is it a nit-picking typo when:
Mathew Schizzler publically states (relative to the Ironridge Funding Agreement) that stock will be issued as funds are drawn
down on a monthly basis.
Then the financial statement that the company issued clearly states that all the shares of stock were already issued in total.
And then very shortly after, it is apparent that Ironridge has discontinued advancing funds.
Those are not typos or nit-picky issues.
Also he said the agreement is that Ironridge can not redeem and of the convertible shares for 6 months ... where the paperwork he signed and filed with the State od Arizona states that the stock can be redeemed at any time after issuance at Ironridge's option.
That is not a typo or a nit-picky issue either