Secure Point Technologies Inc (fka IMSCQ)

[ken_r]

I don't get it.
"loaning money legally and then telling the borrower 'if you seek alternative financing to pay us back before we say? We'll bankrupt you.' That's a form of extortion."
How do they bankrupt IMSC if IMSC gets a new source of funds and pays PP $80 million. I don't see how forcing someone to not pay a loan back is possible.
Either management was in on the con, so stupid they got conned, or unable or unwilling to find anyone anywhere to give them $80 million and a line of credit at better terms.