"Flatcat" - DUE DILIGENCE: Bourque Industries "Q" and "FY" reports: "During the fiscal year-to-date period ended October 16, 2011 and the fiscal year ended May 31, 2011 the Company (BORK) received loans of $474,500 and $15,000 respectively from BAM".
That's the accounting for a very large protion of those BAM proceeds and where the money $$$ came from for the building lease and fit out with equipment and supplies.
JB did many things wrong to BORK products and shareholders but the initial stages of CAP EX cash expenditures were documented:
Electrical and gas line upgrades, interior wall renovations, industrial rollers, custom fiberglass cooling tower ordered and installed, new furnace and start up supplies etc...
The travel, "Live Fire" demos at Ft. Bragg and Trade show attendance was also a signiifcant part of the early stage expenses the last year and a half.
JB's misuse of the funds for "roadshows" has been documented and were a symptom of his hubris and weakness that eventually led to his downfall as CEO.
HOWEVER: there is NO QUESTION Bourque would never have gotten off the ground without funding from BAM participants.
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