BOURQUE INDTS INC (PINK:BORK) Fell Down Like a Lead Balloon

It’s over for BOURQUE INDTS INC (PINK:BORK). After the jump from Monday, they crashed down and they did it hard. Investors lost quite a lot of money and the disappointment must be absolutely devastating. But is everybody sticking their lower lips out?

Lets remind ourselves what exactly happened a couple of days ago. Some news came out according to which BORK have signed a deal which could bring the company around $250,000 in revenue. This undoubtedly is a positive piece of news, and investors were extremely excited to shed quite a lot of money on BORK‘s shares. As we mentioned in our previous article, however, they should have been more careful. We checked BORK‘s financial statement and we saw that the losses the company has incurred so far are so catastrophic that if something to their financial situation were to change, they would have needed at least one more zero added to the amount of the sale. Regardless of that, February 4 saw more than 2 million shares change hands and on Tuesday an additional 1 million were traded. The result was a massive increase in the price : a whopping 52% increase on Monday and Tuesday lifted it a little bit more. It would seem that people really had great trust in BORK.

Then, out of nowhere, what is known around investors’ circles as bloodbath occurred. You should bear in mind that the average trading volume generated by BORK shares is around the one-million mark. During yesterday’s session however, a total of 5.66 million shares changed ownership resulting in a catastrophic drop of about 70%. We’re pretty sure that there are quite a lot of angry investors right now, and they’re probably asking themselves: “What made the price drop so drastically?”. Well, the RSI indicator shows clearly that most of the shares yesterday were sold, which might mean that someone with quite a lot of shares got rid of them in a short period of time. The person with the most shares in BORK is the inventor of their innovative metal alloy and CEO, Mr. John Bourque.

Of course, we can’t certain that it was exactly Mr. Bourque, who sold all those shares, but having looked through the news today, we believe that the company CEO had a reason to sell the shares while they were high up. In the previous article, we mentioned that there is a lawsuit against Mr. Bourque for aggravated Driving Under the Influence, and we said that as of Tuesday, the court has not reached a verdict. Well, it has now. As seen from this article, Mr. Bourque was found guilty of drinking and driving and is about to go to jail for a considerable period of time.

This all means that there is now substantial doubt as to whether BORK will be able to finish off the deal for the Kryron heat sinks, and you might as well cross BORK out for quite a while since they are now faced with the task of finding a new CEO and also they will need a technical person to participate in the research and development part of their operations. If they ever manage to do it, it will take time, quite a lot of it.

If we have to be completely honest, we feel quite sorry for BORK, not least because their product is named after an alien, and if we look at things from a more optimistic point of view, this might not be the end after all. So far the company was managed by people who assigned themselves a whopping $360,000 in annual salary, issued millions upon millions of shares crushing shareholders and their investments and led the company into a deep financial hole. What BORK needs now is a management team consisting of people who stay sober both while they are driving, and while they are writing their paychecks.