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shiloh, is that sarcasm?
boiler, actually, the street waited til the bottom to jump in, with minimal downside and maximum upside...it's now trying to cash in on what's coming next...exciting, but i don't expect the solicication to be out too long.
GLTA,
KB
The street is smarter than us.
Somebody knows something that we don't.
Hope that it's either qualification or one of those "two agencies" that is going to order.
GLTA,
KB
Was today's action due to SA article or does someone know something...ie OT&E that started in late january is now done. That would put it at 45 days as glenn mentioned on the CC.
Any input?
GLTA,
KB
TR-1
Don't forget that the company is also talking to 2 other US agencies - customs, navy, army...who knows.
I expect that this TSA approval will have more than a linear effect on sales.
I don't believe that passing the OT&E is priced in, passing the OT&E is equal to TSA qualification, which is not yet priced in. The defining moment is going to be the ID/IQ and from what I can tell, it's coming soon after the qualification.
GLTA,
KB
why the next two weeks?
where do you think we will be at with a 50million order vs a 100million order vs a 200million order?
KB
yes it would be.
it is the risk we took.
KB
We will know by the end of June for sure.
If nothing comes about, will sell out and take this as an expensive lesson learned.
KB
It is no secret that the management does not give a S**T about the investors, but that does not mean that the company won't be a success.
KB
shoulda, woulda, coulda...
we are in the situation we are in.
hypothetics only make the frustration worse.
GLTA,
KB
Well, zeynoc, in your frustration you have forgotten all the positives that this company has achieved...certifications and increased sales even if they are no where close to where we want them...Daryl Jones' performance has been awful. Like I said we are going to get our answer soon...hoping for a good one.
GLTA,
KB
Point well taken.
The company/management have grossly underdelivered and overpromised. This is a cause for frustration.
The way I look at it...either the beginning or the end is coming.
The end - we get qualification and sale still suck.
The beginning - we get qualification and there is a domino effect and sales rocket.
Either way, the company has no further excuses and the truth will reveal itself.
Can guarentee you that the company has said enough that if it does not come true, there will be a class action lawsuit by the investors.
GLTA,
KB
what is the signficance of these options.
do they lose them if the conditions are not met?
do these people really have any skin in the game?
KB
Haha, 10 years.
Looks like they are getting close.
GLTA,
KB
No arguments here.
My blood boils when I hear how nonchalant he is about moving the dates.
"I am glad to report that the timeline stated at the last CC remains intact."
WTF it went from march-april to may-june.
Hey a form 4 just got filed!
GLTA,
KB
Part of the problem is that the competitors are also on the call so the company is not comfortable with releasing certain information.
Everyone is frustrated at this point.
Tired of waiting and Glenn seems to have a lot of excuses.
Just own up to it, stop giving timelines when you are clearly not competant at it.
Crazy to sell now...either we fly or go out in a blaze of glory.
GLTA,
KB
For Glenn and the company sake...I know that there is a safe harbor statement, but if things like "the company did not hold PRs for release around CC time" ends up being a lie and the company's statements were purposely mileading there will be a lawsuit.
Will give the company benefit of the doubt. Still think that the company will come out on top...just a thought.
GLTA,
KB
I agree.
Not at ALL impressed with management at this point.
Glenn's timeline is a sign of his ignorance of the process or that he flat out is misleading investors...either one is not good.
That said, remember that the cost of operating a qs b220 is 1/10 of that compared to its competitors...that is more important that radioactivity. So if I am a business, I don't care if smith is still qualified, I do care that 5 years from now the qs b220 will have cost me the same even if I got smith's or morpho's etd for FREE and that from that point on I will be saving $9000 per year per machine.
For business it's about cost first before it's about safety...welcome to capitalistic USA. I expect that the frustration will turn to elation and how great management is once TSA signs on.
GLTA,
KB
Does anyone have an idea of how long it takes for TSA to order something after a solicitation is placed.
KB
The TSA solicitation is out.
Won't be long.
GLTA,
KB
The fact that CATSA and TSA visited is a quantifiable fact.
His opinion that they were impressed is a hint.
Glenn is about to say F you to a lot of people soon.
LOL.
GLTA,
KB
B9,
I hear the frustration from lack of sales.
That Glenn is not very eloquent on the call.
The TSA right now is finishing up OT&E and doing due diligence with the comparison of B220 with the competition.
Once the qualification is finished expect the IDIQ to follow rather quickly.
Once the US government buys, the company gains instant credibility around the world AND in the private sector.
I am just as frustrated as the next guy, but hold on tight...it's coming and in a BIG way.
GLTA,
KB
who knows.
I will say this though.
Expect TSA to have a large domino effect.
Not only with TSA put in an order, so will CATSA and expect the final TSA to open more doors ie Israel and sporting venues.
The company will be okay.
I actually like this PR and to me it's a final warning to the shorts...cover now or be buried later.
GLTA,
KB
When I spoke to Glenn recently, he did not seem to believe that it is TSA or bust...he stated that he expects cargo sales to significantly increase from this point foward. What the hell does that mean?...I don't know.
GLTA,
KB
Pretty pissed at Glenn.
Turned around the story about why management went after air cargo first.
He has no sense of timelines...you would thin that Bill would help him with that, but he appears clueless too.
Sad part is Glenn is actually "proud" of the current sales pace.
If it wasn't for the technology...I would be long gone.
I believe that we will be in the 3-4 dollar range by end of the year and that a buyout will be imminent.
GLTA,
KB
I think that it has been on the website for a while.
It appears that they have hired the receptionist.
KB
Was reading the FBO May 16, 2013 solicitation form and it states that final OT&E report should be done within 30 days of finishing OT&E.
Is Glenn just wanting a buffer?
GLTA,
KB
Not saying that it was not a good idea to PR the event.
I think people would be much more excited if it just stated that the company is in the FINAL step.
I believe in the technology, but Glenn can't be that bad with these PRs...it's borderline just dumb.
GLTA,
KB
This PR is yet another testament to the company's HORRID PR writing skills...why didn't it mention that the company is in the FINAL step of testing towards being on the QPL?
That would require too much common sense. FOR THE LOVE OF GOD, get some help with PRing. S**T!!!
GLTA,
KB
Not sure why all the confusion.
This PR is as Glenn had stated on CC.
The qs-b220 has finished testing at TSIF (step 3 of the document).
We are now in airports (step 4 of the document presented).
Glenn said that we finished TSIF in January, OT & E should be done by April 1, 2014 at latest.
Then we wait on the step 5, which is the reporting, this could take 30 to 60 days, which would bring us to June 1,2014.
Hope the reporting doesn't take the full 60 days.
GLTA,
KB
Impressed that TSA awarded 1 week after solicitation.
Didn't see DSA, that the company that produces the minimal IMSC consumable.
Looks like TSA is moving on their budget.
Let's go IMSC and get this done.
KB
What is to be made of these awards?
KB
Nothing much to say at this point.
CC had a lot of positives, just the question of when?
3-4 months max from here...if nothing happens the bottom will fall out under the stock.
I expect the PPS will be above 2 by the end of June though.
KB
Buff, give it a rest.
We know what you think.
You and all of us will find out how profitable IMSC will be within 3-4 months.
If they don't get TSA qualification then that will be the end of the company. If they do, then the company will be quite profitable. Either way, it will work itself out.
Enjoy the weekend.
GLTA,
KB
If the qualification is to take place in may/june, hope to see movement in april. Amazing in a bad way that we are at the same levels as two years ago with everything that has happened since. We will see.
KB
I am not trying to be blind to the possibilities.
Bankruptcy is always a possibility, but I think that the negativity is overdone.
Other than the by june annoucement, the CC is filled with encouraging news.
This company is going to be TSA qualified soon and have proven a legitimate technology.
Sales are improving.
It's going to get there.
KB
Just a little perspective and my 2 cents.
Some on this board have taken the "opportunity to try to hammer the last nails on the imsc coffin," with comments discouraging new investment in the company.
As I listen to the conference call again, there are some facts that give the company a lot to be excited about.
# CATSA/TSA senior administrators visiting with accolades, remember also that israel follows TSA.
# The company is ordering parts in SIGNIFICANT amounts in anticipation of a large government order
# The margin is expected to increase to the mid 40 percent range.
Glenn may be incompetant in predicting dates, but it's coming and everyone has to make a choice, but I will wait.
GLTA,
KB
Thai,
I feel and appreciate your frustration.
I have lost more than I ever imagined, but blame my own greed for my losses.
I too am ridiculously frustrated.
I do blame Glenn for his poor management of investor expectations and am beginning to question his integrity.
There is a silver lining though...they have bought parts in anticipation for a large order, you don't do that unless you are absolutely confident that the order is going to happen. So I still believe that it is going to happen...I hope that the approval date of june is for buffering only. Think about it they are in OT&E with MAX 120 days for the entire process, that is 4 months from now...so by the end of may, beginning of June at latest. I myself am haunted by his CC in my dreams at this point.
KB
This is what I don't get.
If we are looking at a max of 105 days that is 3.5 months, we should be looking at latest mid may, right?
KB
This stock is a test in patience that I have never had in my life.
Demoralized today although I know what the endpoint is.
GLENN, please manage investor expectations better.
Stop moving the goal post for the love of god!!!
KB
Just finally listened to the entire CC.
I am not sure why everyone is so up in arms.
Here is my synopsis:
Qualifications/Approvals
# The company is working on TSA checkpoint qualification. They are in OT&E, the process will take up to 30-60 days (no suprise).
Then there is a validation and review process that will take 30-60 days. This will lead us to April, June at worse. To be honest, Glenn has mentioned this in conversation.
# CACSA/TSA have visited headquarters.
# Company is also working with 2 other governmental agencies.
# Awaiting 2 more international approvals, not as important regarding sales.
Market
# Sizeable recap from TSA qualification for checkpoint, est 600-1000 per year.
# Current backlog of 5-6.5 million
# Sales are picking up as evidenced by the last two months.
# We have serviced 2 out of 3 major cargo companies.
# Clients are ordering long lead parts in anticipation of orders in the future.
Financials
# Earnings per share is -0.07 this quarter which beat expectations.
# Burn rate of 5-6 million/quarter.
# Still losing money, DMRJ is still supportive.
# Stock options leveling off.
This is pretty close to what is expected.
Which part of this is particularly disappointing?
KB