I don't know the best way to get hold of KRYRON ecxept to buy JB out of his position and transfer KRYRON to a clean entity.
How much JB actually has in the "Full Circle Trust" is unknown
despite the quarterly statements. They could be bogus as well as a lot of other stuff we have seen. I would bet that Jared Metz is also involved with "Full Circle Trust" and that could also be an issue as I noted the "co-trustee" notation in the latest statements when they referred to JB's relationship to the trust.
The comment I remember most with Ultra Armoring was that they said they asked JB some basic questions about the properties of KRYRON and JB didn't have the foggiest idea and that is what scared them the most.
They stated that the PR they issued was at the request of JB. And that is probably much like the letters and PO issued by JBT's rep here in the USA.
Also tells me that JB is not the master mind behind KRYRON. There is some one else that knows all about KRYRON and it's properties
and capabilities. Before I would pay JB a plug nickel, I would want to have that individual under contract. And of course JB would want a commission on that deal too.
Then there is CJ ... she would have to be dealt with also, but may have all the info needed to get around some things and she would want to get paid ... of course.
I don't have any expertise in this, but would it be possible to have current minority stockholders set up a new corp. structure and raise enough capital to take to JB and buy him out. I would think $1-2mil. could do the trick. And this would be very speculative in nature because we would have to in turn roll the patent to another entity and back in for a royalty interest. Then,
as I have speculated in the past, if there is an issue with the
patent filing info ... then we would have nothing.
Also, I believe that if BORK went Chapter 7, there would be very few takers at any price because of the huge capital cost to validate and confirm the properties and characteristics of KRYRON.
Or better yet ... could the minority stockholders set up a corp. structure and raise some capital and wait for the backruptcy to happen and then just buy the patent from the court appointed Trustee. That would be the cheapest method.
Offer shares to stockholders of record prior to the great
dilution for a certain share price and those acquiring stock after a different share price.
There are several major tactical armoring companies would love to get hold of KRYRON and run it thru the ringer with the assistance of the person who really knows KRYRON. However I don't think they would pay any cash up front for KRYRON as there ase so many unknowns and the testing and validation could easily run 10's of millions of dollars and require the use of some heavy duty testing equipment that you certainly won't find at your local Ace Hardware Store. And it damn sure wouldn't fit in a rented UPS
postal box.
I don't think there is a lot of time as CJ is trying to squeeze the last drop of blood out of that preverbial turnip and it appears that Ironridge is done funding. As of the last financial statement there was about $600,000 worth of unissued stock in the BORK treasury which is possibly locked down by the Ironridge folks
relative to the lastest funding agreement.
So, I don't have any idea of what would be the best path to take
with the KRYRON, but there may be some folks on here that have way more experience in these type od dealings than I.
So, while we still have maybe an option or 2, lets hear from some of our more learnbed folks on this board.
ABCDE2 may have some experience in these areas or know some that do ... so let's float some ideas. And this is not the time for bravado ... the fuse is burning at both ends folks.
AI
