Secure Point Technologies Inc (fka IMSCQ)

[tedpeele]

I assume several things are true:

First, Implant management believes our technology is much more valuable than the market has placed on it. They have clearly stated their belief that the stock price has not even been close to the value they have always placed on the company.

Second, DMRJ will push for the best possible deal for themselves. They have held on this long for a reason with many zeros after it.

Third, given the technological and competitive superiority Implant has CLEARLY demonstrated over the last year, they are well-positioned to go after the value they believe they are worth:

1. The TSA award of 1170 units was given to them over the much larger, established players.
2. 60-70% of the major airport awards under ECAC were given to Implant over the much larger established players

Implant has become the world leader in Explosive Trace Detection technology over a few short years. As such they are also well positioned to take a big piece of the TSA $162m IDIQ to replace units already in the field. And IMO it is likely that the value of their vortex, swab-less technology - the hidden value as far as the marketplace and shareholders are aware - is not so hidden in their valuation discussions. It alone could represent several hundred million dollars.

L3 has noticed. They want our technology. We should know very soon how much they want it. My guess is that management will get what they believe it is worth. I think we'll be happy with the result.