BAM incorporated in May of 2011 as i read. JBIT had 1.2 Million shares of Bourque supposedly given to it 1 year prior to the merger with GPGI ( 2009 ) from my last share presentation which is easy to view.
So did BAM get the JBIT shares when it was a private company and in effect sell them earlier on in May of 2011 or sell them prior to the merger in Sept of 2011 and come over to Bourque naked?
Has anyone ever seen financial reporting not only for the fact that it would be the right thing to do but----to see where 1.2 Million shares of BORK from Alloys, Kryron Global and BAM actually went.
Naked is an appropriate word as to where did the shares go- is it not? Don't you think, from the readings of the previous to Oct of 2011 financial activity that the thought was clear to see that the Bourque shareholders assumed they would be receiving assets in exchange for the purchases? And those shares were obviously free trading at that point 2 years after their issuance date of Oct of 2009?
There should be no argument on this but a shareholder question that needs an answer and there was an action done that we would like an explanation of at this point?
Here it is again
08/06/2009 John M Bourque 600,000 Part of License consideration
08/06/2009 Carol J Condon 600,000 part of License consideration
08/06/2009 Russell Twiford 200,000 $30,000
08/06/2009 Ryan Owens 200,000 $12,500
08/06/2009 Randy Welden 20,000 $2,500
10/21/2009 JBIT Corporation 1,200,000 License Agreement
10/21/2009 Bourque Alloys LLC 1,200,000 License Agreement
10/21/2009 Kryron Global LLC 1,200,000 License Agreement
Bourque and Condon had, in fact , free trading shares when BORK was created after the merger with GPGI.
So did Alloys and Kryron Global and JBIT shares perhaps were transferred to BAM---the shareholder registry can answer the disposition question and should be called!
And if you count these shares and the dollars brought in from them to BORK you will balance out your expenses for machinery and building costs as previously noted:
10/21/2009 Andreas Siegmund 200,000 $20,000
01/2010 Russell Twiford 275,000 $41,250
02/22/2010 Albert J Doran 30,000 $10,000
Issuances During Year ended 05/31/2011
06/23/2010 Mark Lindsey 100,000 $20,000-Services rendered
06/23/2010 Christopher Hoach 40,000 $8,000-Services rendered
06/23/2010 Joseph Malyniak Jr 5,000 $2,000
07/26/2010 Albert J Doran 50,000 $7,500
07/26/2010 Charmaine Caruso 50,000 $7,500
07/26/2010 Mike Leece 50,000 $5,000
09/03/2010 Myron F Klinkman 20,000 $5,000
09/03/2010 Michael G Leece 50,000 $5,000
09/03/2010 Charles Herrim 40,000 $4,000
09/03/2010 Albert J Doran 100,000 $15,000
09/15/2010 Russell Twiford 400,000 $90,000
09/15/2010 Robert J Nielson 400,000 $18,000-Consulting fees
11/29/2010 Michael G Leece 40,000 $8,000
11/29/2010 Ramona K Stephens 26,000 $-0—Klinkman pd for Stephens
11/29/2010 Myron F Klinkman 18,000 $1,500
12/02/2010 Michael G Leece 80,000 $8,000
Bottom line-----BAM came in naked.
AI
