Secure Point Technologies Inc (fka IMSCQ)

[Ren Baldur]

The equity committee does in fact not dispute that a loan needs to be paid. The case build there is more like, imsc doesn't have to pay 100% back to dmrj and montsant, aka Platinum (these companies were run by the very same person)

Main case presented for the court
a) interest paid was illegal (section 24) - about 5 Millions remain which should not be paid back.
b) that an addendum allowed to convert debt into stocks (section 43). They converted 0.08 stock at a time the stock was at 1.20 - 1.82 in violation of existing law. Therefore (blacked out there) was a also some amount of money which can be used (if the judge follows) to claim that this needs to be accounted for a loan repayment.

So in the end they will ask the judge to account for the money already made illegally by dmrj, montsant before paying anything back.

I expect this to about 5-10 Million because
a) seems to be an easy exercise with hard evidence and
b) is so messy, that i assume that only a minimum of 5 million or nothing can be taken out.


So in the end its a payout at between 0.06 - 0.12 - still with no criminal charges for anybody.

See
http://www.kccllc.net/imxacquisition/document/1612238161222000000000004