Regarding my previous post. Many of the time frame expectations were generated by board members who took a desire from one post and turned it into a "actual" schedule. Sure, JB wanted the factory up and running in two weeks. That doesn't happen in any company. If you don't put pressure on the worker bees then the factory would not be in place today. Today the factory is in place and close to running a product line.
Regarding NIJ. I suspect that nobody on this board has ever been through the NIJ process and that includes John Bourque. There were hard business decisions as to what level to apply for, locking down the Kryron formulation (NIJ does not permit any changes after submission of the application. Either BORK made a mistake on the initial submission (could any of us do better), or they improved the formulation of Kryron. In any case, as of today the testing is over, we got good reports from the results, and NIJ is going through their paperwork process. Remember, a Ceredyne individual was reported to be on the board - they don't want BORK to succeed.
Pink Sheets - fact- the CE has been removed. Work is ongoing to upgrade the status. I don't know what it takes to upgrade but remember that going from a non-reporting company to reporting compliant is like trying to get current with the IRS. Not a fun job - but they are doing it. My expectations are year end but I certainly would like to be surprised like the rest of us.
Sales or orders are not going to be reported until NIJ is complete and in hand. That is why I always hoped NIJ would be delayed until late fourth quarter to 1st quarter 2012. My opinion is that the company will be better off having the factory ready to produce and formally accept orders when the NIJ is formally released. If NIJ cam to early before the factory then customers would be disappointed - right now they have an anticipation of success of NIJ and I suspect conditional (NIJ) orders are in hand. BORK cannot announce these (bad business) when they don't have NIJ in hand. Some of the orders may never be announced for security reasons.
This is a tough business where other companies would do almost anything to make BORK go away. From everything I have read, I am not disappointed in their progress but somewhat surprised at their level of success. Think of the difficulty of putting on demos, dealing with the USG, state gov't, NIJ, Pink Sheets, a new factory, and the herd of cats on this board. This company is doing an exceptional job given the tasks, economic environment, and this board of ferrel cats. All DD IMO has been done for this investment for now. Let the cooks do their work in the kitchen if you want a good meal before you leave. Dinner will be served in due time.
