Secure Point Technologies Inc (fka IMSCQ)

[iGrassHopper]

Where will the $15m to buy Zapata come from?

Implant's liabilities are over $101m, plus the $5.7m debtor in place loan, legal bills, and cic payouts.

The Implant/Zapata plan was to emerge from reorganization free ftom debt, and with $20m cash on hand.

The investigators in the platinum pirates' bankruptcy case uncovered a plot to transfer their ISC notes to platinum insiders, which may have doomed any plot using the convertible preferred shares (secured debt) and warrants to fund the rest of the $15m acquisition price and/or provide the $20m operating cash.

Can anyone explain how or why the Zapata scheme still goes forward without platinum pirates owning 30% as McGann laid out as part of the grand plan?