Secure Point Technologies Inc (fka IMSCQ)

[Ren Baldur]

Status of our "return of invest" (Updated)

At the 29th November it was referenced in (A) that there are about 15 million dollar left.
It was also mentioned that administrative expenses and interest cost will eat into this (A).
In (B) the article mentions that until 20th the equity committee activities did cost 1 Million.
They offer a fee cap at 2 Million. Court documents (C) offer a schedule for omnibus hearings
until June. Accrual of interest was renegotiated according to (D) and is since October 0.

Assumptions for calculation

For Accrual of interest I assume an average of 100.000 per month from October to Jan.
Not sure about this would be happy to find a valid basis. Oct-Jan are 4 Month,
so we "earn" 0.4 Million.
According to (C) this legal stuff runs another 5 months, so money will be
spent on operations again. therefore we take the same number as in November
and "earn" again a little bit because interest is 0.


Calculation:
* kept everything what was written, deals like the removed interested show up as
earnings here

 
  --------------------------------------------------------------  
  Remaining money on November,29                 |   15 Million  
  administrative expenses + interest Nov         |   -1 Million  
  administrative expenses + interest Dec         |   -1 Million  
  administrative expenses + interest Jan         |   -1 Million  
  Equity Committee Cost    until  Jan 20th       |   -1 Million  
  Deal of EC (accrual interest) January 20       | +0.4 Million 
  --------------------------------------------------------------  
  Money Left on Jan  20th                `       |   11.4 Million  
  -------------------------------------------------------------- 
  administrative expenses + interest until Jun 30|   -5 Million  
  Equity Committee (Fee Cap) until Jun 30        |   -1 Million  
  Deal of EC ( no accrual interest)              | +0.5 Million 
  --------------------------------------------------------------  
  Estimate of Money Left on Jun 30                  5.9 Million  
   
 

Conclusion:
At June 30 about 6 Million (0.07 per share) will be left.
To have a return of 0,12 they must settle in the next 3 weeks.

Does anybody disagree - and why, facts please?
Why are some people so keen on buying into this "low price" Stock?

References:
(A) https://www.law360.com/articles/866723/implant-sciences-equity-holders-get-challenge-extension
(B) https://www.law360.com/articles/883105/imx-equity-panel-offers-fee-cap-for-ch-11-lender-suit
(C) http://www.kccllc.net/imxacquisition/document/1612238170120000000000003
(D) http://www.kccllc.net/imxacquisition/document/1612238170119000000000002