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Jenee
There are many of us who purchased BAM stock knowing that it was restricted for one year. Upon meeting the one year criteria, none could sell the stock without it going through a process to get the stock "unrestricted". That process, as many of us now know, requires an attorney to sign off on the process and then pay the registrar of the stock a smaller sum for the administrative process. If folks do this indepently, it costs from $375 to $475.
We are all in this to make money but I, for one, am not going to abandon this ship anytime soon. It may be prudent, however, to get the stock in position to sell when the time presents itself. If we could join forces, as some have suggested, we may be able to get a more palatable price for doing this. I think that is may be a bit too soon but if the price is right - ---
Declaring a stock worthless is somewhat of a tricky situation, especially with the Bourque stuff. Technically, you cannot sell the BAM stock until you get it unrestricted. To do that requires that you get a legal opinion on the stock and then send it to the transfer agent. The fees for this come to about $400. Even then, the stock must be actually worthless to declare it as such for tax purposes. There are many articles on this out there in cyberspace. There are a lot of us with BAM stock that are feeling even more cheated with the financial requirement to get the stock unrestricted before we can even try to sell if for the pennies it is currrently worth. If you find out anything different, there are a lot of us that would like to know.
On the episode last night I watched for the Bourque T shirts but they did not have them on. I did see one guy put on an armored vest but did not see a logo or name of any sort on it.
Milk - I am fully aware of all the problems that you and others have discussed relative to all the various issues concerning Bourque Industries.
However, I was simply asking if anyone has met with the same "no response" from American Registrar and Transfer company. It would seem a simple process for them to take a fee from me and unresrict the shares I own.
Regrettably, I participated in the BAM program and now want those shares unrestricted in the unlikely event that they may become tradeable in the future.
Now that the PPS has gone up a smidgen to barely being alive, I still have some concerns regarding getting our restricted shares to an unrestricted state, I was one of those gullibles that took "advantage" of the BAM offering. And now, I want to get my shares unrestricted just in case one of these days we might make a buck. I have contacted (or rather tried) American Registrar and Transfer Company on 6 different occasions. Twice through the contact point on their web site and 4 times on their phone number. Their phone number is 801-363-9065. I have yet to receive any sort of response from them. Their phone is always answered by an answering machine no matter the time of call.
Has anyone else tried to get in touch with them?
KZ - you may want to ask someone in Tucson about this if you get a chance.
KZ - Far be it for me to decipher what the heck is going on but it is quite clear from the SEC complaint that Bronson is E-Lionhart who is also doing business as Fairhills Capital. Bronson is the single person that runs all of these entities according to what I read in the complaint.
Wish I could figure out how it affects all us holders.
All one has to do is to look at the handwriting on the wall to see that this ship is sinking rapidly with only its propeller and a bit of the stern above the water line. Just take a look at the last filing recently posted. Irrespective of the PPS, the outlook on the filing is completely negative - no revenues at all, no accruals, no cash on hand and many, many obligations to the tune of about $200K per month. And, I suspect that the Bronson, E-Lionhart and the Fairhills Capital mess will also turn uglier with the SEC.
Its a huge mess and I am one of you who dipped more than a toe into the water hoping that a great product would make me a few bucks. I seriously doubt that our stock certificates are worth more than the paper on which they are written.
MDB - You know, for the longest time I had hopes that there was someone in charge of Bork that would tell us the truth, had some degree of integrity and would keep us informed. I must say that I now have absolutely no confidence in anyone with a title at Bork. All appear to be either doing nothing or protectting their own rectal regions by keeping clammed up or by selling their own stock. My loss, though pretty substantial to me, will not change my lifestyle nor will it cripple me in meaningful way. It will however, change the way I look at any further investments. I guess I was greedy in jumping on this with thoughts of grandeur when, in MHO it was nothing more than a smartly disguised rip-off.
But alas, I have learned a valuable lesson and will hold on to my precious shares to remind me of this failed endeavor. Who knows, one of these days Kryron may be used to reinvigorate scrub-boards.
MDB - if it drops any lower we will be in negative territory. I have really given up all hope that any of us will ever see anything out of this. When I look in the mirror the reflection being returned to me is pretty stupid looking. Can't believe that so many of us got hooked by the product and gave such short shrift to the folks that were managing the whole thing. Just hope all of you out there are better off than I since my fairly substantial investment is now just .9% of what I put in.
Still holding the stock, if for no other reason that to remind me to do a better job of DD next time around.
KZ - I too am holding on to my shares, if for no other reason than to see what happens. Since they have lost (on paper) more than 90% of their value at this point there is really no good reason for me to sell. I have already adjusted my networth statement to Zero for Bourque and will continue to live a normal life - - - but it could be a much better one with some ROI.
Has anyone on this board heard anything at all, I mean anything, coming out of Tucson? I have been here for a long time and, heretofore, there were occasional pieces from JB himself, a few posted by ATL and of course John2. Now, there seems to be a complete silence. Like many of you, my hopes and dreams for this company have gone down the tubes, along with a goodly sum of my money.
Of course it is too much to ask! They rarely do anything on time.
KZ - I don't disagree with your assessment but can't help but wonder what it really means. Does Sean have any sway over the other management folks? Do the others report to Sean on day to day operations? Does this make him in effect the Operations Manager? I would hope that he now has the authority to get the place jumping but don't know that JB will put that much sauce in anyone else's plate. Only time will tell.
I, too, believe that Sean will be good for the company. Just wonder why clicking on his email address on the web site comes back! Investor relations without a way to directly communicate with investors is not good.
I think all of the naysayers and the disgruntled would be a bit more positive if only those in charge would at least try to inform us all of what the direction of the company is planned to be, what positive things are ongoing and what technologies and applications are the current focus. None of these things would have to involve divulging names or specific strategies to get to the end point. But, with the absolute lack of any information, it is hard to cast aspersions on those who cast apersions on the company management. Still here, still down 95% and hoping for something good to happen. Admittedly, it is hard to be positive with the way things have been going for the past several months.
All of the investigation and speculation done by members of this board is for naught! It does not matter what one finds out about the buying/selling of the stock and what the intentions of John Bourque are. Simply put - JB owns the majority of the shares and he can do with this company as he wishes. So, all we can do is just "hope" and "wish" John wants the best for the company and us investors. Unless there is something illegal going on we are at the mercy of the man. Still wishing and holding long on the bare hope that he has good intentions in his heart.
There have been innumerable posts on this board concerning JB's mismanagement,lack of foresight, his insecurities and his need to control. Some have even opined that he is not too smart. All I have to offer concerning these opinions is that JB may be more intelligent than we think since I (among many others)am the one who is out a goodly sum of money. And, at this point, with the information we have and with the obvious lack of any progression, I have a hard time coming up with any scenario that will put that dough back in my pocket. How about you? Nevertheless, I will hold on to my shares, if for no other reason than to remind me that not everything is as it appears. Just hope that ole boy down in BAMA will forgive me for dragging him into this!
I certainly cannot argue with your logic! I am down 95% and have only a few bucks left in the bucket. However, I am going to stick it out just to show how stupid I really am. Still believe in the product and hoping (not showing any good sense I know) for it to revive one of these days. I have already marked it off on my networth statement and can live without it. Perhaps one of these days the words of John II, KZ and others who are more positive than I will come true and we will see some light.
At times like this you need to dedicate your time to your family. While all of us out here are anxious to hear all you have to say about Bourque, it is much more important for you to attend to your wife and the family. I am sorry about your loss.
ATL - I appreciate your action, interaction, influence and otherwise dedicated support of Bourque and the Kryron product. I am excited about the possibility of a new area that will bring "Instant Sales".
I would ask that you look at all the processes with a very critical eye because we out here in investorland have been spun far too many times in the past.
I have already said a prayer for your MIL and have high hopes that she is doing better as this reaches you.
TC
You, among others have talked with JB before and many times the talks have been very positive. It also seems that the product applications are innumerable. Yet, nothing ever comes to fruition from all of this. I cringe when I think back to all the posts that have hyped "big things" coming in the next week, month or whatever. And, I am sure that those that have made those posts were confident that they were true. Makes one wonder just what our sales force is really doing or what flaws Kryron is funning up against when put to the test.
Sir Cooper
I sincerely hope that your optimism works out and that we will all make some dough. I regretfully say that you may be another Charlie Brown just waiting for Lucy to do it to you again.
Still long and staying there but still very frustrated at the lack of movement on the "Big Things Coming".
"I hope & trust these "hints" happen soon."
I too "hope" but do not "trust" anything at all will happen. I have been watching these hints since last spring and all that has happened is the sale of a few vests in Florida and Washington. Of the many posts that have suggested "big things soon", none have come to fruition.
I firmly believe the words and postings of the many investors on this board who have echoed the words coming out of Tucson. Unfortunately, I think that they are being fed tiny, timed doses of malarky just to keep us "longs" from bailing. Just hope I am wrong!
But, as I have posted before, I will hang in there on the remote possibility that the virtues of the product will somehow overcome the the failures of our management team.
Fever - yes you do get your average share price down by scooping up a lot of them when the price is so low. However, don't forget that you still have MORE of your own bucks invested. If I lose $50K at an average share price of $.50 it is still $50K. I have a bunch of shares and paid more than $4 each for many of them and have vowed not to spend another penny until such time as I can see some progress being made. I still believe that we will see Bourque rise out of the ashes at some point but it is not now at the point where more of my money will go just to average down.
And , the rumors have been perpetuated by members of the Bourque team. That is, if we can believe those on this board who have indicated cetain principals have once again told them that good things are coming.
Just hope Lucy hasn't once again fooled Charlie since we are all getting a bit tired of this up and down game.
MoneySavvy Girl - If you are considering getting on this train then now is the time to do it. BAMA2, others and I both got on when the fare was heading up (in the $4 range) and we thought we would make a killing. Looks like the only thing being killed now is our enthusiasm and our portfolio's. But, that being said, I am gonna ride it out until the trestle collapes and all is lost or the bullet train takes up to the land of wheat and money!
Looks to me like Lucy and Charlie Brown once again! Something big is gonna happen soon - Bam! Charlie Brown goes down again. I just hope that one of these times something of significance will actually take place and Charlie will kick the PPS through the uprights!
The PPS goes to $.60 and BAMA done gone and lost his mind. I am waiting for it to hit the $6 mark again so I can regain some of lost money AND dignity.
Bama - I guess we are in the same boat (albeit a sinking one) since we have shares purchased at the same price. Have heart though, the PPS only has to rise a thousand-fold for us to break even.
As for the tater juice stand, I can barely afford the juice, much less the stand to hawk it from.
GO BOURQUE!
So, you noticed my weak eyes did you. That comes from searching this board for good news. alas, there is none. I think I will invest my remaining coin in potato juice.
Yes, that is generally what wash sales involve. You may want to read up on this topic if you do a lot of trading because it can get a bit more complicated than just the simple rule I mentioned in a prior post.
If you trade a lot you need to carefully watch for wash sales.
The wash sale rule prevents you from claiming a loss on a sale of stock if you buy replacement stock within 30 days before or after the sale.
You do get to take $3000 off for Federal capital gains loss if MFJ. In Alabama you must take the entire loss in one year, which is pretty crappy! But then, Alabama has a bunch of crappy laws!
You can have up to $3000 in capital gains losses in one year and the remainder are carried over to future years. Some states do not have this same rule.
The theories and prognostications that have been seen on the board here of late are amusing and interesting to read but there have been none that tend to salve my feelings toward the current management team. I wish I could somehow see how progress is being made (apart from NIJ and OTC filings) but cannot, despite the optimism of many. My enthusiasm for this product overshadowed my demonstrated ignorance of the market. Neverthess, I will keep every single share until it is rendered totally useless. Maybe at that time I can at least claim a loss on my tax return.
I would say there have been many in tears here of late. Seems there is no good news to be found! Still holding long however, since I would rather lose every penny than a mere 95% of it.
I have been monitoring this board practically every day since last May and have seen literally hundreds of excellent Kyron related ideas being proposed by a wide range of pretty savvy folks. It just seems to me that ideas are not the problem; it is the lack of implementation of the ideas that has bogged up down. I also know that being a start-up in a technical discipline has some pretty significant issues to be addressed. Nevertheless, after a long year, we still have seen no real action ideas brought to the table by our management team. I view this not so much as a negative post but a call to action by those who are close enough to the "Team" to be able to convey our thoughts and frustrations. I also know that we cannot expect the Bourque team to reveal sensitive communications but I think we should all expect more honesty and forthrightness through some sort of communications to us shareholders. The phrase "bear with us a bit longer, good things are coming" is getting a bit worn.
I am still (crazy as hell) holding tight and have not sold a single share of my meager 38K shares. Still hoping for some sort of miracle even though I have already adjusted my networth down by the amount of my initial investment.
Bourque started the carbon-nanotube race with a huge, huge, head start and now - - the CN jetliner may have just left the bullet train at the station.
Bourque does seem to have a great product, as has been proven though inumerable demo's and certifications. For this reason alone, I think that many of us are holding long. Admitedly, it is getting more difficult to believe in the management philosophy of the Bourque Team. Certainly, we all remember when the vibe was "wait until 2012". And, then, it was "big things are happening in February". Now we hear hints once again of "hold on, things are looking up". We have been through the hold-up of the NIJ cert and we have seen the OTC pink issue resolved and we have seen many, many demo's successfuly completed. However, we never seem to see any follow up on orders or production capability.
I still hold long - - mostly because my investment is in the toilet anyway so it would do little good to get out now. Just hanging in there with some sort of vague hope that the Tucson Team??? will be able to dredge something of value out of this.
I have read every post on this site for about the last nine months and I have concluded that we (participants on this board)have a lot of smart, experienced managers in many sectors of the current economy. I would seriously doubt that any of them would tolerate the missteps, mistakes, and blunders that we have seen happen since June of last year. Some of the errors appear to be those that could easily be handled by any novice manager.
Jump on me if you like, I will be here for the long term. I believe that Kryron is a product of the future and my shares will stay in my pocket for the long trudge to consistent progress. It is a miracle that we have thus far survived in spite of so many management failures