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Don't know how you see it John11, but I think that's great news! CJ has been there since day one and if Big John had listened to her more we might all have been laughing our way to the bank by now. Don't know where you get the news because I don't see it published anywhere yet, but I am very happy for her, for BORK and in turn for all of us. Please join me in wishing CJ well as she strives to bring our company up to its potential.
I don't think I would count on McCain's input. From his many years on the Arms Services committee, I think he has a much longer relationship with Ceradyne (read:loyalty). But lets hope he would be willing to give that up in favor of having our troups better protected by wearing Kryron armor.
This plate was hit with an assortmant of rounds (about 60 shots total and of course no penetration) including .223 & 7.62mm
Some things even duct tape can't fix.
I'll take a stab at your question, Slick, as to why John did not go with ATL's excellent site; (and this is just a guess) JB has a big heart as we've seen. He probably had a close friend or relative design the original website so he had the same person do the "new" one so as not to hurt his feelings by using ATL's (better) site. JB needs to rewatch the Godfather "...it's business." There is real money on the line here, John. Feelings come last.
BORK is not selling video games - loose the animation, it's annoying and as said earlier don't put up dead-end links. That just looks too unprofessional.
The stock price stays flat for a while or falls a little and right on que, out comes the trolls --- again.
Share Bourque's good news! If you are on Facebook click "share" and repost to your friends. Add a great comment too.
ATL:
email me regarding photos for website to awbphotoguide@gmail.com .
And don't forget their neghbors at Davis Monthon AFB. Again, $110 is cheap advertising and it does show they are willing to do whatever it takes to get their name out. I really doubt they are expecting to generate any sales, just good exposure for the price. If they come to PHX I'll plan to go too.
For a little over $100.00 it's a cheap way to attract investor interest even if there are no potential buyers there - and isn't that something we want to see more of?
DON'T FEED THE TROLLS! Commenting on inuendo and rumors that can't be verified is only benefiting those posters. Is it coincidence that BORK has been down the two days those comments were posted? Some here may not know how to short stocks but the sharks sure do. Invest wisely and don't let these people shake your tree.
Spy... Would you please list facts to describe your comment "...to see JB & CJ live the extravagant live..."
I'm just not aware of anything worthy of that discription. Explain your conclusions, please.
The Fat Boy does stop 7.62 AK rounds. First hand knowledge of 30 rounds in same plate - no penetration, spall or richochet. Can't verify grain or whether they were FMJ or not. Andrew should have that answer. Refrence: Rio Salado demo 4/1/2011
Greenpen: BORK may be selling vests as a complete unit but they do not make vests, they make the strike plates that are inserted into the vests. I don't believe there is a five year waiting period to replace damaged or obsolete strike plates. You are right to mention cost as a limiting factor when it comes to doing an "upgrade". At that point it comes down to the value they put on the life of the police officer over the cost of improved protection.
Can the caveat be satisfied with an unaudited set of financials?
John11: In your conversation with JB did you think to ask why his Consolidated Financial Statements were unaudited? If you did, please share; If not, would you ask the next time you talk to him? It's a subject of much concern to many. Thanks.
My guess is that shorts are driving the price low enough to trigger stop loss orders. MM's and others with systems above level II can see those prices.
Bowser is just being modest saying a fatboy plate stopped 60 .223 rounds. In April I witnessed 91 rounds into a fatboy (60 - .223, 30 - 7.62 AK rounds and a 20 ga. shotgun slug.) The results: no through penetration, no ricochet, no spalling! NO SNOW!!
On the IDGA website they have a list of "confirmed speakers", including this guy who will no doubt be toting the advantages of ceramic armor:
William G. Fahrenholtz
Professor of Ceramic Engineering, Missouri University of Science and Technology
Andrew or John needs to contact this person about telling the Bourque technology story:
Speaking Opportunities
Shamara Ray
212-885-2770
shamara.ray@idga.org
Today the "Shorts" are in control, they are probably trading amongst themselves and at the same time trying to scare others into dumping stock so they can replace their borrowed shares cheaper and at a profit. Too many comments here about being "all in" is music to their ears (i.e. no one to buy enough to keep the price up) Hopefully there are some here with dry powder to stabilize the price. Think of this as an unadvertised Filene's Basement sale. Don't wait for an invitiation. Cut these shorts out of the herd and buy!
Flatcat, good of you to make note of those comments in paragraph 7. I should have thought to highlight that part so it would not be overlooked. Also, I meant to say they are excerpts (of interest to BORKies) and not the whole 10Q report.
F.Y.I. CRDN 10Q filing 10/25/11
Sales of ceramic body armor represented the majority, and most volatile, portion of our defense business, rising from approximately $26.2 million, or 42.8% of our total sales in 2002, to a peak of approximately $535.3 million, or 70.7% of our total sales in 2007, and then declining to approximately $70.4 million, or 17.5% of our total sales in 2010. Shipments of the first generation of ceramic body armor, known as small armed protective inserts, or SAPI, began before 2002 and accelerated rapidly with the onset of the war in Afghanistan in 2002 and thereafter the war in Iraq. Shipments of the second generation of ceramic body armor, known as enhanced small armed protective inserts, or ESAPI, began in 2005. The military’s subsequent decision to deploy ESAPI body armor “full fleet,” that is, to replace all SAPI body armor with the new ESAPI body armor, and the introduction in 2006 of enhanced side ballistic inserts, known as ESBI, which protect the sides of the soldier’s torso, resulted in continued growth in our sales of ceramic body armor, ultimately reaching our peak sales of body armor in 2007. Once “full fleet” was achieved, our sales of body armor began a steady decline.
In October 2008, we were awarded an Indefinite Delivery/Indefinite Quantity, or ID/IQ, contract by the U.S. Army for the next ballistic threat generation of ceramic body armor plates, called XSAPI, as well as for the current generation ESAPI plates. This five-year contract has a maximum value of $2.37 billion and allows the U.S. Army to order either XSAPI or ESAPI body armor from us.
In March 2011, we announced the receipt of a delivery order for approximately $56.6 million for ESAPI ceramic body armor plates and the receipt of a delivery order for approximately $36.0 million for XSAPI ceramic body armor plates. In July 2011, we announced the receipt of a delivery order for approximately $36.2 million for ESAPI ceramic body armor plates. All three of these delivery orders were issued under the October 2008 ID/IQ contract. Through September 30, 2011, we have received delivery orders under the October 2008 ID/IQ contract totaling $278.4 million. Of this amount, we have shipped $223.9 million of body armor through September 30, 2011; we expect to ship an additional $43.1 million during 2011, and we expect to ship the balance of approximately $11.3 million in 2012. With less than three years remaining under this ID/IQ contract and the wars in Iraq and Afghanistan winding down, we expect that the total amount of body armor that we ultimately ship under this contract will be substantially less than the maximum amount.
n September 2011, we were awarded a three-year ID/IQ contract for ESAPI ceramic armor plates from Defense Logistics Agency Troop Support group. This purchasing group services the United States Army, Navy, Air Force and Marine Corps. This award was in response to our bid to the Defense Supply Center Philadelphia (DSCP) in response to their requirement for a three-year sustainment order for the replacement of body armor inserts. Simultaneously with the receipt of this award, we received an initial delivery order for $127.3 million for ESAPI ceramic body armor plates with the initial delivery in the first quarter of 2012, continuing through the remainder of 2012 with estimated completion by March 31, 2013. This ID/IQ contract includes options for additional deliveries of up to $127.3 million in each of the second and third years.
In October 2011, we announced the receipt of a delivery order for approximately $6.9 million for ceramic body armor plates from the United States Special Operations Command. We expect to ship this order during 2012 and complete the delivery of it during the third quarter of 2012.
For 2012 and for the next several years, we expect that our sales of body armor will continue, but generally at more moderate levels than in the past. We will continue to bid on Foreign Military Sales (FMS) for the first generation of SAPI body armor through our existing ID/IQ contract with Aberdeen Proving Grounds.
Although we believe that demand for ceramic body armor will continue for many years, the quantity and timing of government orders depends on a number of factors outside of our control, such as the amount of U.S. defense budget appropriations, positions and strategies of the current U.S. government, the level of international conflicts and the deployment of armed forces. Moreover, ceramic armor contracts generally are awarded in an open competitive bidding process and may be cancelled by the government at any time without penalty. Therefore, our future level of sales of ceramic body armor will depend on our ability to successfully compete for and retain this business.
New orders for the three and nine months ended September 30, 2011 were $272.0 million and $612.5 million, respectively, compared to $110.8 million and $304.0 million, respectively, for the same periods last year. Orders for ceramic body armor for the three and nine months ended September 30, 2011 were approximately $174.7 million and $282.8 million, respectively, compared to $18.9 million and $32.0 million, respectively, for the same periods last year.
Our order backlog was $354.9 million as of September 30, 2011 and $136.3 million as of September 30, 2010. The backlog for ceramic body armor represented approximately $208.7 million, or 58.8%, of the total backlog as of September 30, 2011 and $26.1 million, or 19.2%, of the total backlog as of September 30, 2010. We expect that substantially all of our order backlog as of September 30, 2011 will be shipped during the next 12 months.
For the next several quarters, demand for ceramic body armor is likely to be the most significant factor affecting our sales. We expect sales of body armor will be slightly lower in 2012 than in 2011.
Results of Operations for the Three and Nine Months Ended September 30, 2011 and 2010
Net Sales
Our total net sales for the three and nine months ended September 30, 2011 and 2010 were as follows (dollars in millions):
Three Months Ended
September 30, Nine Months Ended
September 30,
2011 2010 2011 2010
Net Sales $ 148.0 $ 91.8 $ 443.5 $ 302.2
Increase (decrease) in net sales $ 56.2 $ (16.2 ) $ 141.3 $ (0.8 )
Percentage change in net sales 61.3 % (15.0 %) 46.7 % (0.3 %)
Sales continued their strong rebound in the nine months ended September 30, 2011, especially in our products for defense, industrial and energy applications, although sales and orders of ceramic crucibles to the solar industry slowed in the later part of the second quarter of 2011 and continued that trend during the third quarter of 2011. The principal factors contributing to this growth included renewed purchasing of ceramic body armor by the U.S. military, continued growth in sales of our ESK Ceramics operating segment, the sales contribution from VIOX Corporation which we began to consolidate and report the results of their operations with ours as of January 3, 2011, and the continued rebound of the economy in general.
Advanced Ceramic Operations Segment
Our Advanced Ceramic Operations segment had net sales for the three and nine months ended September 30, 2011 and 2010 as follows (dollars in millions):
Three Months Ended
September 30, Nine Months Ended
September 30,
2011 2010 2011 2010
Net Sales $ 74.0 $ 28.3 $ 217.3 $ 123.7
Increase (decrease) in net sales $ 45.7 $ (34.1 ) $ 93.6 $ (51.6 )
Percentage change in net sales 161.8 % (54.7 %) 75.6 % (29.4 %)
Contributing to the increase of $45.7 million in sales during the three months ended September 30, 2011 were higher shipments of ceramic body armor that totaled $50.2 million, an increase of $43.0 million, or 601.2%, from $7.2 million in the same period last year. For the nine months ended September 30, 2011, shipments of ceramic body armor amounted to $152.2 million, an increase of $95.8 million, or 170.1%, from $56.4 million in the same period last year. The primary reasons for the increase in shipments of ceramic body armor were an increase in demand for shipments of ESAPI armor plates. This increase in body armor sales during the three and nine month periods ended September 30, 2011 was partially offset by a decrease in sales of vehicle armor. We shipped $0.7 million of vehicle armor for the three months ended September 30, 2011, a decrease of $3.8 million, or 85.4%, from $4.5 million for the same period last year and $2.0 million of vehicle armor for the nine months ended September 30, 2011, a decrease of $20.0 million, or 90.8%, from $22.0 million for the nine months ended September 30, 2010. The decline was caused by a lack of orders of armor for the MRAP All Terrain Vehicle (M-ATV) and the High Mobility Multipurpose Wheeled Vehicle ( HMMWV or Humvee ) during the nine months ended September 30, 2011 compared to the same period last year.
ISO/QC type papers still to be filed before final NIJ stamp of approval. Don't know timeline for that, but soon. End in sight for this long awaited event.
The best part of this announcement is that the test results are now public information and whoever it is at NIJ that has been putting cogs in the BORK wheels will have to go very far to stretch the truth if they think they can hold up certification again.
If L-III is the market they are going after - and that does make perfect sense. Why submit the Fat Boy (a L-IV plate) in place of their smaller L-III passible plate?
Two lingering questions:
Good Morning All, Just got caught up on all of yesterday's posts and as helpful and informative as they all were, I am still left pondering the same thoughts I had when Andrew first made the announcement about getting a testing number from NIJ.
Why submit the Fat Boy for L-III testing when it would clearly pass L-IV? It appears to be too bulky and heavy to be worn in L-III threat conditions by most policemen.
We know that someone from BAE or CRDN is on the NIJ board and has done much damage to BORK through delay tactics. Could this person be responsible for the Fat Boy only getting a test number for L-III testing instead of L-IV or was that what the company applied for?
"Insiders" please clarify or stear me straight.
Thanks
I miss old Lou.
But back to the institutions... When they buy into a company they want to see liquidity, i.e. daily volume of 500k or more and they want shares outstanding high enough to make large purchases without rocking the boat. As I mentioned previously, we need to undo the 1:5 reverse split and maintain a share price above $5 at the same time. With good management it will come but it will take time. My suggestion, buy what you can on the dips and put them in a ROTH IRA so you won't have to pay taxes on those huge profits that will surely be coming.
Institutional and Fund investors
Mike, I don't think funds and institutions will even look at BORK as it stands. The shares outstanding are too low and for that reason, too volatile for them to take a risk on. Also I think most of them look at companies that are priced over $5 and preferably making a profit. I think we are getting ahead of ourselves to even consider that big institutions would give BORK a second glance. Perhaps when we get back the 5:1 split and still hold above $5 it would be something to think about.
More immediate attention when looking at what would bring up the stock price would be NIJ, Caveat, ability to fill orders, etc.
I have to agree with RockQQ's analysis. Over a month ago I drew support at the $3 range because it represented the 50% fibonacci retracement. The 61.8% retracement has no price support due to the short time period between "takeoff" back in April and now but it is currently holding above that $2.25 point since the one day close below it on the 18th. My next support is at $1.50, which I do not expect it to fall to unless there is negative news published or an extended period of no news. Should that happen, however, I will (to quote Cramer) "back up the truck and sell the farm". As I see it, BORK is going to be one of those multi-year "overnight successes" and anyone looking at or investing in this company to turn a quick profit will run out of patience before they make their killing.
Footnote: 8/15 was an interestnig day; lowest volume since 8/1 at 46.4k; closed below 61.8% fib. and below the 80 day moving average. If you're an investor that is not relevant. If you're a trader you would have sold on the 16th but at 104k volume not too many saw the clues or this stock is held mostly by investors.
When the time comes I would like my minty green kool-aid served in crystal stemware, please.
Thanks John11 for the very thorough update. Question: You typed the NIJ board member works for BSE. Did you mean BAE Systems and is that an opinion or something you know for sure? I would have guessed BORK's "thorn" is with Ceradyne since they would have more to loose from approval of Kryron Terminator armor (because it will make their ceramic plates practically obsolete.)
Fat Boy specs
Most of the answers are on the JBIT website: http://www.jbitusa.com/#
1) 10 x 12 x 1-3/8 w/ 45 degree cuts at top corners for arm movement
2) 5# 11oz
3) Flat
4) Proprietary
5) Available from Sales
6) Easily [What is meant by "when issued"? The product tested and certified would have to be the same product sold under that part number.]
Kryron weight
What I was recalling when replying was having seen a "chunk" of Kryron material in early development stages and what may have been pre-nanotube technology. Sorry for any misleading comments. In any case, the properties of Kryron (as previously mentioned) have limitless uses. Hang on for a rewarding ride.
News reports on Chinook downing
What I heard on the news is that the rocket hit "vital components" possibly the fuel tank which caused the fire/explosion. Kryron plates in vital areas such as around fuel tanks would be a perfect use. Kryron is heavier than straight aluminum so would have to be used sparingly and in most sensitive places.
"Hinderance" removal is good news.
That is the best news I've heard on this board. That hinderance (I'm guessing Ceradyne connections due to their large gvmt contracts for those "inferior" ceramic plates) has cost BORK and us a lot of money. Would like to see that person removed and even a law suit for causing such delays for BORK. NIJ cert should be imminent, right Jon?
This is the 3rd or 4th post I've seen talking about bringing BORK to the attention of Jim Cramer and those penny stock pumpers. Guys, this is not a good idea. If you have ever followed the results after Cramer, et al have mentioned a stock, they take off like a rocket, get way overbought then fall like a rock back to or below there pre-hype price. These hyped companies then get an unreliable reputation and wise long investors avoid them; the volume never returns and these stocks ends up floundering in an oversold wasteland for a long time.
Just let "nature" take its course and we will all be rewarded with a smooth climbing investment. (With a few "good news" spikes, of course)
Keep in mind, the short sellers follow Cramer and the penny stock pumpers and make a killing off of slow reacting longs as they drive the prices back down. We don't want to be helping their bank account, we want to help our own.
The word will get out and BORK will thrive, just keep your shirt on and maybe even have a little dry powder for adding to your position on days like Thursday and Friday.
Pass the Kool Aid!
Mike, I can understand Bourque Ind. timing the release of NIJ cert. results but can they control NIJ posting any approval results here? http://www.justnet.org/pages/BallisticCPL.aspx
For any "chartists" out there it looks like BORK has fallen through previous support at 3.25+/-. Unless it closes back in that area I see the next support in the 2.90 - 3.00 range.
Warning: Don't try to catch the bottom you may be left without a chair when the music stops - (or in our case starts), these are good entry prices right here. If you are long, long BORK you can look for $15 - $20 at some point - and, along the way, splits. At that point 3.15-3.20 will be seen as awesome bargains.
Remember those immortal words from Al Czervik (Caddyshack) “…What everybody’s selling? BUY, BUY, BUY!"