For history purposes, I wanted to document here one of the highlights of my message board tenure, when IMSCQ's Stock Holders Committee member, Carol Severance, attempted to try to intimidate/scare me through a legal filing (of course, it didn't work as we have this little thing called freedom of speech).

Case 16-12238-BLS Doc 840 Filed 06/27/17 Page 4 of 7

More recently, the published attacks on the Committee and its members have not relented. In fact, they have become even more personal and biting. Unfortunately, on at least one of the chat boards the "host" of the board has hidden his or her identity, and controls the posting of additional messages so that there is no practical ability of the Committee or anyone else to present a more balanced view. One of the five original Committee members has resigned, but the four of us who remain continue to press on in the face of these attacks. I have to admit, however, that the attacks have become exceptionally personal and hurtful.

So amusing on many fronts, one of which is that no one on these boards posts their identity, yet you somehow tried to single me out as having a "hidden identity"! Logic was never your friend, Carol!

The other ironic part is that I could point out many attacks that you yourself posted (yes, albeit weak, as the facts were never on your side), yet you sought to play the hurt, innocent old lady role when it works for you. Very funny!

As far as being hurtful, yes, the truth sometimes hurts, Carol!

The proof of the pudding, so to speak, are the results of you and the other Stooges work, where after years of court time, you ended up with less cash than if you cashed out the day after bankruptcy, with the lawyers taking in more cash (your own committee and legal fees were over $2 million) than the additional cash earned in the settlement! The committee turned 10 cents a share into 4 cents a share, 2 years later! A sure verification that the term Four Stooges, was more than fitting!

I put the figures in an earlier post here:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=155289447

There were 80 million shares outstanding at the end, so if you received 4.3 cents, that means the total shareholder figure was about $3.4 million.

What is funny about that? Well the Four Stooges committee legal expenses ALONE were over $2 million. Which means $5.4 million could have been available to shareholders if it weren't for the "work" of the "esteemed" shareholder committee.

The total legal expensive for all sides (all paid out of the IMSC bank) had to be over $6 million, right? Just think of that for a moment! If no one contested the distribution of funds, and just had the judge approve a split of the remaining cash, without 2 years of legal expenses, the shareholders easily could have recouped more than 10 cents a share! Instead, the sore losing, spurned, IMSC shareholders, led by Carol Severance, caused 2 years to go by and burned millions in legal expenses!

Once again, what could be more fitting of an end for IMSC than that scenario! Shareholders burning up their own cash!

I've been reading some of the old posts here, and have a great time re-reading them. Very entertaining! The legal filing in the BK case, document 840, where Carol Severance complains about me, is still one of my favorite moments ever! A feather in my cap! My reply to her is still on this board https://investorshub.advfn.com/boards/read_msg.aspx?message_id=132547085


I miss this POS!

When I last left this POS, the Four Stooges (the IMSC lack of equity committee), were going to increase the value of their holdings by going to court to get what they could out of this company, instead of taking any of the 100's of chances to sell their shares, including anytime in the first month after bankruptcy, when this POS was trading at mostly from 10 to 16 cents!

Instead of just selling and moving on, The Four Stooges, spent TWO FREAKING YEARS, dealing with lawyers, attending meeting after meeting, reading legal document after legal document, lashing out at anyone who ever tried to talk sense into them, because their same "great minds" that told them IMSC was worth investing tens of thousands in years before this, also thought that they HAD to be able get more value than the 10-16 cents the shares were trading in the first post bankruptcy month! Guess what? They were wrong again! Surprised? lol

All totaled, conservatively, what would we estimate, they had to have spent hundreds of hours of their time on this in those 2 years!!!!.... AND WHAT DID THEY GET? FOUR CENTS A SHARE? WHEN THEY COULD HAVE MORE THAN DOUBLED THAT IF THEY SOLD TWO YEARS EARLIER AFTER BANKRUPTCY, and walked away without spending two years with their money tied up in court!

Don't anyone ask me why I chose the nickname The Four Stooges, for the "lack of equity" committee! Congrats to Carol Severance, and the rest of the Lack of Equity Committee! You were able to snag 4 cents from 12 or so cents of post bankruptcy value! At least you helped out the lawyers$$$$ lol

Could there be a more fitting finale to this?

No comedy has ever been more entertaining than following this POS and the insanity that went with it! Thanks for the entertainment!

https://www.cnn.com/travel/article/franky-zapata-flyboard/index.html

This kind of tech doesn't just "go away" even if a company is going BK. TSA surely knows this and I would not be surprised they knew that L3 is looking to scoop it up.
I don't understand why you fault the gov. here... All they care about (in this case) is to have a good product and Implant did have a good product. The fact that it was transferred to L3 - TSA couldn't care less about. In fact, they are probably happy it's in good hands now. Many engineers moved to L3 by the way.
It's not gov. job to manage private companies.

Anybody follow ASTC? Currently in TSA testing, looks like they already got approval in Europe. Technology looks interesting...it's mass spectrometry based.

Bob L. is out trying to raise capital and investors for his new "project".
Here's his latest staged interview. I plan on following him closely and being very helpful in letting anyone that is reading comments various locations they can look to get a clear view of REAL history of IMSC and not the simple one liner in his bio that says he successful sold the company to L-3 for Millions. I have a feeling he is the type of person that will never achieve success on his own anyway but I feel compelled to participate in sharing information where he is leaving gaps!

https://www.proactiveinvestors.com/companies/news/212635/quantum-plots-course-to-meet-demands-of-future-212635.html

I received my payout as well. Good luck everyone!

And so ends a personal nine year saga, silly me.

I also got paid as stated by others. Since this board will likely get closed down soon, one last time....never forget. We got screwed.

IMO fraud was perpetrated by all participants. During the TSA proposals, they presented financial information to the government that allowed their proposal evaluation to score them good enough. At that same time, IMSC management was aware of the shaky debt situation that made them go bankrupt shortly thereafter. On the verge of bankruptcy would not score them good enough under any government accounting guidelines. So much for full disclosure. At best TSA is incompetent, if not also colluding, for awarding contracts to a financially broken company and perpetrating the image of success. Then L3 performed due diligence to buy IMSC. In their greed L3 must have "missed" the faulty IMSC accounting that won the TSA contract they were so eager to buy. Criminal in so many ways. IMSC management and L3 all in collusion to cheat shareholders and enrich themselves.

You would have thought the government would close out the old IMSC contract that was won based on a questionable pricing proposal....bury the skeletons. But no, the contract lived on to fund the transfer of those IMSC personnel, some of which I am sure were involved in this questionable proposal. Sole Source no less. No draining the swamp for this team....IMSC, L3, and the government

GLTA

Yes, off mine too.

Yes. The money showed up and the position disappeared off my account.

So final payout is .0429. Did it just show up in your brokerage account as a sell of the stock?

OK I am pretty sure that I got paid today.
Sold 90000 @ 0.0429
3,860.75

Bests...

Looks like the objection has been withdrawn, and final payout is back on track. If I'm reading the latest document right, the case will be closed on 11/16. No idea when that means payout will occur.

http://www.kccllc.net/imxacquisition/document/1612238181106000000000001

How we coming along on that Zapata flying war machine?





Sorry, I know it didn’t turn out well for anyone.

I’m glad I bailed when I did!

That would be too good for him.. I would be way more creative..
But facts are we got screwed. That last conference call will go down as the VICTORY LAP call. Only they were taking a bow for screwing long term investors...

Bob Liscouski is a scam artist that belongs behind bars.

That email is from an ill informed stock holder who thinks they are going to get more money back by soliciting the court. It’s actually pathetic reading some of the documents that they filed which can be read on KCCLLC.net.

This will be over in a month or so I’m guessing.

If there's enough money left over I suspect they'll find loopholes that permit additional claims. Meat is seldom left on a carcass.


Pat

I think the 24th shut the door on new claims.

"Any possibility this late claim might be dismissed quickly?"

Probably will be dismissed in time for the next claim.



Pat

Any possibility this late claim might be dismissed quickly?

You won't believe it - on the night of October 23rd an email was received just in time objecting to the final accounting and now there is going to be more delay and increased lawyer costs.

So much for an October payout...

Final accounting motion to be heard on oct 24. $3.4m is left to distribute.

Not only is he the CEO, he is bragging about the sale to L3 in his bio.

Robert Liscouski is a security industry leader with more than 35 years of experience serving as a senior government official and public company executive. In 2003, he was appointed by President Bush as the first Assistant Secretary for Infrastructure Protection at the Department of Homeland Security. Mr. Liscouski joined Quantum Computing from Implant Sciences, where he served as President and spearheaded a $118 million cash takeout.

Payout should hopefully be within the next month or so. BK is done now. Looks like 3-4.2 cents

I was wrong when I said I through I had received the funds. I assumed it was the amount as it was an similar amount to what I was expecting from IMSC. Turns out what I received was from another source.

Apologies.

Payout will not be until after October 24th or more realistically somewhere around the middle of 2019 - so long as they can come up with more ways to delay and bleed out the funds that remain. I agree no more pink slips for me either!

Nothing here yet, I'm on TD.

No holding pink sheets for me ever again!!
Holding $KBR now. Great financials and huge potential but still shaking of a dark past with Halliburton.

I can't see the payment being anything else.. But it was NOT clear who it was from. Just showed up like the first payment. If I get a a few min I will call TDAmeritrade and ask. Likely after market closes.

FWIW: It worked out to be $0.03579444 a share be exact. But that is all know. But this is pretty much what I was expecting..

Good Luck. If I find I a wrong I will come back and correct it.


Caveat: I have been wrong before. At least twice. :)

I'm with TD, nothing yet.

Well I received an amount of money that worked out to be $0.03579444 a share be exact. (90k shares).

I can't see it being anything else.

No explanation. It just showed up in my TDAmeritrade Account.

Good Trades to you all.

Nothing here yet either.

Anyone else confirm? I have received nothing yet...

YEP.. I think i got mine today.. Showed up and looks like what I was expecting.. No THANKS for nothing letter or explanation, More a F/U and EAT dirt deposit. BUT I will TAKE IT! Wow. Remember the Victory Lap?

Your a sick old nitwit.. What have you in mind :)

I think I received my payout money in my account.
Looks like: $0.03579444 per share

I 'think' I got my funds. It was $0.035. Showed up today in my trading account.

Only thing I can think of. Maybe others can confirm.. thx

It takes a long time to roll the quarters.

Well they are taking their time dispersing funds aren't they. I guess it goes right along with the theme of this whole case... d

For those of you that want to keeps tab on the Captain of the IMSC TITANIC:

https://www.nasdaq.com/press-release/quantum-computing-inc-listed-on-otc-pink-sheets-20180919-00486

I'm going to work up a few press releases as we move fwd as well : )

Any word on a disbursement?

This might help.. I would also ask my broker. My initial refund just showed up in my account with no explanation. Contact your broker or see if you can find something in this.

http://www.kccllc.net/imxacquisition/document/list/4398

http://www.kccllc.net/documents/pocs/imx%20-%20official%20410%20form%20with%20503b9%20w%20checkbox%20161014.pdf

Thank you Magicrat. Appreciated. This nightmare is about over..
$0.08 is better than nothing. I think we received about the same amount previously..

A poster here was searching for this info and says he never received the initial payout. So I will attach your link.. Hopefully his reading.

http://www.kccllc.net/imxacquisition/document/list/4398

Looks like if I'm reading correctly final payout has been approved. About $3.6 million left at around 80 million shares should be .04-.045 cents per share. Added to previous payout of.037 we will end in total with about .08 cents

Glad we can finally put this behind us.

http://www.kccllc.net/imxacquisition/document/list/4398

It just showed up in my Scottrade account as a credit. The credit referenced IMSC. I think is was $17 cents a share or something. (I forgot the amount) Still expecting the final pay out..

Ramp Worm, you have stated in several posts that there was a payout about a year ago, but i have never recieved anything. I still have a $00 placeholder in my brokerage account. Did you receive a portion of this payout, and if so, how did you recieve it? Can you expound please.

Thank You. I appreciate your information share.
It will be nice to get this off my trading platform and forget about it.

They are wrapping up. The motion to close the BK is scheduled for a hearing date of 9/6. I expect/hope there will be a final distribution within 1-3 months after that.