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SO...is the general thinking that Bourque will be getting out of prison in the NEAR future and that's why there's a new website? Assuming that he WILL be pursuing the business model once he's out?? If so, that has to be sort of positive for all of us whose accounts have dwindled down to nothing, right?! Hoping there's some life in this darned thing yet!
When does JB get out of prison? Anybody know? As much as it pains me to say...that may be the only salvation for this company and my holdings. Ugh!! Get him back in the lab and back to work on production and try to bring back a little bit of value. This is sickening to watch...
AWESOME idea MerthyrQ! I hadn't really thought about the personal protection aspect of things, but given the current climate here in this country and the uncertainty for future economic conditions, I can definitely see where people will start arming themselves and wanting more protection. MAN! Kryron vests would be great to have in my closet!! I, too, hope that someone at BORK reads your post or that you contact Sean for further discussions. That's a great avenue with future revenue potential. Many thanks for bringing it up here...
Scorpitron - absolutely AGREE. Whatever happened at CBAI is of NO concern to me as a shareholder of BORK. He came - he got us money - he went. End of story as far as I'm concerned.
Diannedawn - As LONG everyone here reading this blog realizes that Mr. Schissler is NO LONGER an officer of BORK...fine. And he wasn't there for very long either. He DID help BORK obtain critical financing through Ironridge. Other than that - I see no evidence that he did anything wrong whatsoever while during his short tenure at BORK. What he did at any other company is of no relevance to me as a shareholder.
REVISED attorney letter now available (above) with new link. It's just a standard attorney's disclosure letter concerning the Annual Report filed for 5/31/13. Nothing in there of consequence really - pretty much boilerplate.
Is anybody able to open the "attorney letter" that was supposedly posted Friday, 9/13? I just get an Adobe PDF error when I try...
Thanks MerthyrQ for posting those valid, salient points concerning Bork and Kryron! Let's just hope the new Board that was just put in place is planning on getting this darned thing going. BRING BACK SEAN and let's roll!
Kudos to you Flatcat - you're SPOT On with your assessment and ruminations. I wholeheartedly agree...hope something happens in the near term and I, too, hope Sean is restored in some capacity.
This is actually a relief, to some degree. Maybe it will help quell some of the animosity toward BORK. Hope the new Board is going to be giving us some kind of update in the near future as to the direction the company will be heading... Crossing my fingers, but I'm not all that patient these days. <<sigh>>
I don't believe anybody is ignoring anything. Just stating neutral positions and ensuring accurate information is being discussed with regard to BORK.
MerthyrQ - just trying to correct misinformation being bandied about on here. I don't view them having an alternate mailing address as either negative or positive...I'm neutral on the subject.
locksflooring - the UPS website DOES show that UPS Store listing. It's Store #38 of their listing out of 63 in the Tucson area. You have to scroll further through the pages to get to it is all. Point is, their new mailing address is located in a retail shopping/strip center and is not in an industrial park or some other place where they would be doing any "manufacturing" of materials. It's a mail drop only... Doesn't mean they aren't doing any testing or manufacturing somewhere else - just means they want their BORK mail delivered to a new box address.
locksflooring - technically, you're correct that it's not a P.O. Box because P.O. stands for Post Office and that would imply a box rented from the U.S. Postal Service. However, they are CORRECT that the new address of 4729 E. Sunrise Drive, #338, in Tucson, IS, in fact, a UPS Store located on Sunrise Drive in the Bel Air Plaza Shopping Center. Most likely, #338 is the BOX they rent at the UPS Store. SO...the point is, BORK has rented a box at the UPS Store in which they prefer to receive their mail, as opposed to having it delivered to another physical (or BORK office) address.
Untrue, steveaccountant - the Bourque Industries website HAS been updated to reflect the new address. Since we don't know for sure 100% whether or not they have, indeed, moved OUT of the Drexel building location at this point in time (since there has been NO public release of information concerning this matter), we can only assume they wish to receive mail at the new UPS Store location. Everything else is speculation.
REINSTATEMENT with Arizona Corporation Commission now available online showing new officers, etc.
http://starpas.azcc.gov/scripts/cgiip.exe/WService=wsbroker1/corp-detail.p?name-id=F17356819
Thanks Marketcap for that heads up!!
I believe that's expected by the end of August. Hoping to see some sort of good news or progress being made...
Many THANKS, Mike, for the correction! Sorry about that...
Steve - here's the information:
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=10290
Near bottom of page 4, the $1 million contingency is stated on the balance sheet.
Certificate of Designation just released this morning:
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=106097
Hoping this portends GOOD things to come for BORK. Must be important for someone to have paid for this to be expedited on May 30th! I guess we'll see...at least something is still going on there!
Thank you for dumping - looks like it helped to start our upward trend! LOL!
MerthyrQ - you are RIGHT ON with that assessment. I do multi-state payrolls for different entities and everything I've ever done in my career is on a "cash paid" basis - as in, when you cut a check to someone, that's when you have a tax liability that you report quarterly (although you have to pay the tax owed under the method determined by the IRS - be it weekly, monthly, quarterly, etc). If they didn't cut checks to employees, there's no tax liability until that's done. NOT paying the employees is a whole OTHER issue which should be pursued by the State as it's just wrong! That has to be one of the things Sean is dealing with - MORE cleanup of JB's freaking mess. Geez...
LOL...better take LOTS of water with you! The area out there in Eloy reminds me of those old westerns where the land is barren and cracked, and you just hear the wind and maybe an Eagle screaming overhead. It would be a nasty hike for sure! Let's just pray for better BORK days to come...
Regardless of who eventually bought the land in Eloy, I can't imagine it's worth anything.
If you pull it up on Google maps (addr: 9093 E Cornman Rd, Eloy, AZ), you have to back out of the zoom mode quite a ways to see that there's nothing [color=red][/color]out there in the surrounding area - nothing. I, too, have visited that site several times in the past and it's just out there on a nasty, bumpy single-lane dirt road with nothing around for miles...all desert land with not much of an infrastructure. I'm sure if a developer were to want it (BIG stretch in today's economic and real estate environment), the cost to develop and just bring in some utilities would be astronomical. I doubt you could even cover your costs IF anybody other than a Gila Monster or rattlesnake would want to live out there.
As for the $10 that keeps getting bounced around, that's a typical amount for a "transfer" fee of a document of that type. For instance, the company I work for had two private power plants and our main Holding company sold its 100% interest off to another entity as of 12/31/12. If you look at the paperwork, the "sale" was for $10 (from what I see these days, this is standard and I concur with others here that years ago, the standard fee used to be $1 stated in documents of this nature). However, it results in us getting future liabilities from these plants off our books and allows the new entity to garner whatever losses or expenses may be presented (or any profits...which are doubtful at this point). Regardless if those plants begin to show profits down the road, our company is MUCH better off in the long-run for having gotten rid of the power plants.
There are many reasons for transactions such as these and MANY things that happen for business reasons behind the scenes that may result in a "healthy" and beneficial effect on the selling company. Since no one other than BORK management (and BOD) is privy to the specifics of the transaction, and may never be for internal business reasons other than that required to be disclosed to the SEC, all else can only be classified as speculation and conjecture, but it may not necessarily be a detrimental move on the part of BORK.
I could be wrong, however, but those are my feelings on all this Eloy land issue. It's beating a dead horse. The future of BORK lies in Kryron and its potential in OH SO many applications, which is what I choose to focus on. And now that JB is MUZZLED and out of the way as of March 2013, Sean and the new BOD can focus their sights on moving forward at what I'm hoping will be a steady pace to profitability in the near future. At least I, personally, would hope to hear some positive developments as there is promising and brilliant future given the proven abilities of Kryron.
SYReal and KZMike - thank you both for your feedback...much appreciated!
I would think the CNT Agreement refers to Carbon NanoTubes, which was discussed quite a while back...although I don't recall if they disclosed the Company involved with that. KZMike - do you remember?
Thank you Slick, for keeping due diligence to the facts and on point! It's much appreciated!!
THANKS Rijbak for the much-needed clarification. I'm sure we ALL appreciate it!
Gotmilk - I take exception with this statement:
"I agree with abcde2 that the actions of Sean Floyd, Interim CEO/President are those of incorrectness in that he considers the taking of legal action and the activity of being fully reporting as being mutually exclusive."
We do NOT know that "he considers the taking of legal action and the activity of being fully reporting as being mutually exclusive" unless someone can point to a press release or spoke with Sean personally where he has specifically made this statement. Is there a link to that or is this speculation on someone's part, once again? Please clarify.
Brokers CURRENTLY trading BORK
This was posted by KZMike, so I'm adding it as a Sticky Note:
[Brokerages trading are] Scottrade and E-Trade as well. . . with most all brokerage houses you can buy and sell BORK. Only one that I know of has a problem due to the chill on the Buy side only is TD Ameritrade.
I have also learned that Alpine Securities in Salt Lake, UT, is able to accept unrestricted BORK stock certificates
Phone 801-355-5588, ask for Tyler who is familiar with BORK shares
Thank you for the information, KZMike!!
WE know nothing of the sort. It's an ASSUMPTION by some that "nothing is going on" and that's all it can be at this point unless you have been there and can report that as first-hand fact.
Absolute truth Scorp! Those who don't believe in the future of this company should do some true DUE DILIGENCE as others have and visit the site and speak personally with the people now in FULL charge of BORK! Otherwise, everything posted is speculation and postulation. This may be a HOLD and wait and see for some, but for us that have actually been there and who rely on others who have BEEN there and their accounts of their visits...we're holding and adding to our positions. The ADDING to our positions is based on trusted first-hand eyewitness accounts of the product, its capabilities, and trust in the NEW MANAGEMENT and BOD based on their proven backgrounds. Unless you have BEEN there, you just don't KNOW...and all you can do then is theorize. Take a VISIT...Tucson is beautiful this time of year!
While some may want to call the latest update fluffy and without substance, I definitely support the synopsis of TreBor1 and those others who have actually VISITED the Drexel property, know the players that are STILL involved in BORK (sans JB), and who have witnessed first-hand Kryron and the proven tested results of same. Witnessing something first-hand is TRUE due diligence. Now that we have seated a NEW Board of Directors with stellar backgrounds and unquestionable experience, I, for one, can only imagine this is a new day and a turnaround for BORK. I applaud Sean Floyd for hanging in with the company through the BAD times of JB's reign, and taking positive steps now that he can make sensible, proactive decisions on OUR behalf. Am looking forward to our NEW, prosperous future. This is MY opinion based on the true and SOLID due diligence of those here involved in that. And AFTER ALL - isn't that why we're ALL here - to prosper from BORK??[color=red][/color]
Pulpito - thank you SO much for your insights you've shared with respect to your fairly recent visit to the Drexel building, as well as your meeting with Sean and CJ. It's always good to hear another person's "confirmation" of what others who have visited the site have shared! I, too, believe that Sean has all the shareholders' interests at heart and is doing his best for the betterment of ALL of us here. Keep the faith Sean...we're right behind you all the way!
MerthyrQ - I am in total agreement with your post! I feel it is extremely important that the new BOD is able to take this company forward for the benefit of ALL shareholders without JB's interference, and based on the credentials and experience of all those in charge now, I'm comfortable that we will see progress and forward movement unlike what we have seen in the past under JB's dictatorial rule. Kudos to Sean Floyd for hanging in there and all the hard work he has done - along with others who have remained at BORK despite the lack of responsible leadership pre-March 2013! I'm looking forward to what lies ahead and hope the new BOD and BIW relationship propels our little company into prosperity near-term.
Per MerthyrQ:
"As far as I am concerned, and to the extent of my knowledge, I am pleased with the lock-up agreement, for it addresses some of my primary concerns about the current management's ability to make and enforce company decisions and policy outside the shadow or undue influence from its largest shareholder.
I believe the overall effect of this agreement is beneficial to all concerned, regardless of any reservation we may have about any of the exceptions present or not present. I do not feel any compunction to nitpick at the agreement, and therefore my only interest in seeing the entire agreement is one of curiosity and NOT one of need; a curiosity which does not need fulfillment.
Congratulations and thanks to Sean Floyd, staff, officers, and Board of Directors. Well done!"
Flatcat - I echo many of those who are giving you KUDOS for a succinct and well-written synopsis of B.I. Thank you SO much for taking the time to lay out key issue points that I wholeheartedly agree with. I applaud you and appreciate your taking the time to do so. THANKS!!
Bigdog - thanks for your posts and the information you are able to share at this time. I'm sitting back, taking a deep breath in and out, and relaxing and waiting. It will, indeed, take time for the dust to settle and get things moving with the new crew. I really hope we're able to get better updates on BORK's website (at least periodically) from Sean once there is some progress to report. The lack of transparency in the past has eroded shareholder confidence in this company and I fear that most are just hanging on by their fingernails and hoping for a spike big enough to justify their bailing and moving on. I'm a believer in Kryron and hope that the new management can take us in a stronger positive direction going forward. We have invested hard-earned dollars that have all but evaporated on paper, and deserve to know what that direction will be. A shareholders meeting would be a GREAT step forward in that communication and I would gladly travel to be there! Perhaps you could put in a good word for that? Thanks for your input and presence here...
Thank you, Flatcat - well put!
Re: Sean Floyd
There's QUITE a bit more to Mr. Floyd than being a "wedding photographer". And please REMEMBER that as acting CEO, he will be running the business - he won't be in the Lab cooking up product! We NEED someone to run the darned business!! For those of you who are uninformed, here's a brief synopsis of Mr. Floyd's past experience, in his words as posted here a while back:
"At 27 years old, I had set up a national contract with Budwiser and you can find that in the news paper Archives...I was born with business in my blood as my father at the age of 68 is still a CEO of a International company as well. I was trained to be a pitbull with a smile. I put my money were my mouth is and step up to the plate everytime. I demand the ball when there is 2 sec on the clock. It's about being dedicated to NOT FAIL. I am down in my investment and refuse to loose, I will do what ever it takes to win...even if it's to help this company in areas it is week in.
Work Experience
Media/Photography Group January 2004 to present
Owner/Founder
-16 years experience in corporate management
- Corporate Web Site Design and SEO/Professional Photography
-Design of Sales/Marketing materials, branding/advertisement
-Sales and Marketing Corporate Training, how to be seen in the market place and increase sales.
-Corporate Consultant
-Work has been featured with companies such as Porsche, Nissan, Rooms to Go, PGA Golf and Century 21
-Managed and retained long term corporate relationships with clientele
ACT International January 1997 to February 2004
President/CEO
-Responsible for the overall operations of the company, including oversight of contract negotiations and national contracts
-Hired key personnel and managed the day to day operations of the company
-Negotiated 2 National/International Contracts with Billion dollar companies
-Set up Factory Product Manufacturing and signed up over 170 dealers in the US/Canada
-46 employees
Advanced Medical Technologies March 1995 to December 1997
Regional Director/Sales
-Managed and was responsible for all medical technology sales in the Florida, Georgia, and Alabama territories to
major hospitals in the areas
-Managed 16 Sales Reps"
So let's just STOP the nonsense and look forward to the direction of this company and its new BOD! I view today's release as extremely positive for BORK and look forward to how they can shape its future. I applaud the management for today's press release and await news of further developments.
All I'm saying is...WE all out here in shareholder land don't know the specifics of this particular case, so it is premature to condemn him. But to make a blanket statement that anybody who drinks and drives should be in jail, is overreaching. I say let's see what happens in court and let the chips fall where they may. If he gets sentenced, so be it. The company has obviously thought all scenarious through and has plans to react and adjust accordingly. Either way, BORK will survive and continue on. Today's drop is, in my opinion, a buying opportunity.