The expected upgrade of Bourque Industries, Inc. to the top tier of the OTC market, the OTCQX for companies that meet the highest financial standards and undergo a qualitative review, will allow BORK shareholders information to access detailed information in regards to the internals of the BAM offering prior to any solicitation by Bourque Alloys Manufacturing, Inc. towards Bourque Industries, Inc.
As I did not participate in the offering, and did not receive or have any view of the offering, I continue to only speculate without knowing any details of the manner the private company Bourque Alloys Manufacturing, Inc. was created, but will offer my opinion based on my limited knowledge obtained thru readings of posts on IH that a group of people submitted the paperwork and fees to a governing local/state/federal body for its creation and assignment of shares to those people based on the amount of cash they contributed for its creation.
Continuing from having no details on the creation of Bourque Alloys Manufacturing, Inc. or the manner the "BAM offering" was initiated and eventually purchased by Bourque Industries, Inc. except thru reading of posts on this board that commented on it, I will assume without know if true, that those whom were the originators of Bourque Alloys Manufacturing, Inc. sold portions of their BAM shares to those that joined the BAM offering at $1.50 for each BAM share purchased.
Prior to 09/29/2011 it seems that the BAM offering by Bourque Alloys Manufacturing, Inc. was conducted as a private company seperate and independent from Bourque Industries, Inc. and not authorized by Bourque Industries, Inc. to pledge to those of the BAM offering an exchange of restricted Bourque Industries Common Stock held by Bourque Industries, Inc. for each BAM they purchased at $1.50 each, but doing so only as a promise that Bourque Alloys Manufacturing, Inc. will obtain them at a future date, meaning during the BAM offering Bourque Alloys Manufacturing, Inc. the company did not have in its possession the restricted Bourque Industries Common Stock they pledged to those that joined the BAM offering.
As for the persons that created Bourque Alloys Manufacturing, Inc. it is only possible to identify John Bourque, as the remainder of people may or may not include one or more board members of Bourque Industries, Inc. and may or may not include one or more persons employeed by Bourque Industries, Inc. and may or may not include one or more persons not employed by Bourque Industries, Inc. but may or may not held Bourque Industries Common Stock.
At the present time no information exist as facts to justify an inquiry to determine if the merger of Bourque Alloys Manufacturing, Inc. into Bourque Industries, Inc. was executed with intent to defraud Bourque Industries, Inc. of 92 million shares of restricted Bourque Industries Common Stock.
If Bourque Industries, Inc. attains acceptance to the OTCQX, then it is possible that the public information presented will allow enough insight to deliver solid facts to replace the above speculation as my opinions of the above statements based on me not having or knowing any details that allows me to present the above as simply my wondering and guessing and putting forth what has a real possibility as having no merit to proclaim as possible.
For sure it would be helpful to identify those individuals that created Bourque Alloys Manufacturing, Inc. and have them disclose their intent and reasoning for the existance of this private company, along with their statements as to the value they placed on the company they created, especially in regards to the value they placed on an exchange of 92 million shares of restricted Bourque Industries Common Stock they received while the market value of BORK was above $2 and held that level for many more months, this while John Bourque and the Board members of Bourque Industries, Inc. made public comments that Bourque Industries, Inc. was a valuable company having a great future.
Doug
