Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
The "only game in Town" that is how our new(old) management views the highly-toxic loan-shark, Russian-mob financing disaster that is DMRJ. That's right all this talk of re-financing and buy-outs was just wishful pipe-dreaming. Instead we get yet another extension of 15% interest and 8-penny conversion-dilution euphoria for as far as any of us can see. Oh yeah, and here's a new one.... we got to hear all about the "pipeline and the back-log" ... don't you all just feel warm and fuzzy now? Our new "savior" is ECAC and Europe....whoopee!!!! well this time I am going back out on the ledge and I doubt anyone will talk me off....I am guessing instead the line will form behind me. Buff, you are probably right look for brand new 52-week lows tomorrow.......I am going to be sick.............
It seems to me that the best quote in this article, and one to pay close attention to is , " and the commitment of solid financial backing". Suggests that either re-financing is done, or there is a high confidence level in it getting done to the point that such a public statement would be made.
Why would an agency of the U.S. government go to extraordinary lengths ("fast-track") to see that a foreign-owned corporation received a major U.S. Security contract when, for the first time they now have a qualified (read "most-qualified" ) domestic corporation with the contract award in-hand. That truly makes no sense politically or otherwise.
Very well said. As a long-term holder of in excess of 120,000 shares I too would ask that a conference call be scheduled promptly so that we might here from Dr. McGann and receive an explanation as to the departure of Mr. Bolduc.
Schwab also had the 1.30 at 119,000 shares traded.
OK, I'm not a math whiz, but I do own a calculator and unless my decimal place key is set improperly and I am getting a round up/down ( it might be...tell me if that's the case) I get that $21,556,080 divided by precisely 1/2 of 1170 (or 585)comes out to $36,848.00 per unit....... a very likely unit bid price when sold in high volume. Hence, the $21,556,080 would be exactly half of the 1170 units and the contract is for $43,112,160. 1/2 now.....1/2 later.
May I offer, on behalf of myself and other long-suffering and highly-anxious, investors (3 years and over) that when we complain, sometimes bitterly, about the stock price and all the potential factors holding it down, we don't do so to damage the company or our fellow investors chances for success. But, rather the opposite -- we want desperately (I believe) to hear some kind of reassurance from our fellow (more optimistic) posters as to why we should hang on and not get out on the ledge. These social message boards, regardless of how important some think they are, serve only one purpose -- that of a cyber-stand-in for the office water cooler, wherein those who share a common interest (owning shares in IMSC) can (via the wonder of cyberspace) stand around the figurative water cooler and shoot the breeze about how our team (IMSC) played in this weeks game (IDIQ, DMRJ, Levi & Dumbshittsky et al,) and what our chances are for making the play-offs (real return-on-investment). Nothing more, nothing less. So, optimists, have patience with us, we aren't selling, we are just curmudgeons --we need the social and psychological release of venting once in a while. With that said, what's the over and under on a refi announcement prior to the protest being dismissed?
hence my analogy, after playing a long time we, without question, hit the biggest jackpot imaginable, yet the machine didn't pay out. and we are left with no more quarters to play.
My analogy for having been a faithful, knowingly-risk-taking, long-term retail investor of IMSC, with what arguably amounts to my life savings, for oh these many years is akin to:
having walked into the casino with the rent money and sat at a quarter slot machine playing, hour after a hour for nearly the whole day, growing ever weary at my lack of success, but knowing also it was increasing my odds for the jackpot; and then finally coming down to that very last quarter.....swallowing hard and putting it in the machine....saying a brief prayer and pulling the handle to watch in amazement as I not only hit a winner, but see "jackpot" appear on every pay line.....yet what do I hear? No buzzers or bells or whistles. Am I dreaming? suddenly I look down and see that the machine says "must play three quarters to win Jackpot", and while I had spent all day playing three quarters, I finally hit the jackpot when I only had one quarter left. What are the odds?......... "This one's for you folks, enjoy"....I am dying here Glenn, Throw me and my fellow longs a life preserver, please?
"If it was $1.16, you would just want $1.17; and if it was $1.17, you would just want $1.18; and if you invested hundred's of thousands of dollars of your life savings years ago believing that the small, patient, risk-taking retail investor could succeed, little did you know the insatiable appetite of the DMRJ Hogs at the trough".... "This ones for you folks, enjoy!" as single kernel of corn slips to the ground below the trough..... (G. Bolduc circa Nov. 2014......liberally paraphrased)
You know, over the last 4+ years I have had way too many "haircuts" ... I am ready to just let it grow out. Maybe even cultivate a pony tail. Besides which, since I have had my life savings tied up in a stock with no return on investment and seemingly no prospect for same, I can't even afford to get my hair cut.
Buff. Your post sums everything up. For all of us frustrated longs who have been here for 4 years or more I echo a resounding YES!! Others who agree should post so, If management truly reads this board maybe they will begin to take notice of the building sentiment of true long-term investors (not traders or speculators) who truly believed and drank all the Kool-Aid, but who have come to the realization that the only viable Answer to achieving some kind of return-on-investment is a Buy-out and Soon.
I am intrigued by the notion that BAM is indeed company-centric and perhaps management-linked. Who else comes in when they did and is entrusted with the Intellectual property (in essence the real current and future "value" in this company)if not some entity that management had a good deal of trust and faith in to ultimately entrust the very future of the company too. Others' thoughts?
Buff I think you are right on. This company absolutely needs to be acquired very soon and hopefully management is currently focusing their efforts in that regard, rather than in lining up yet some more toxic vulture financing to drain the last remnants of value from all of us long-suffering "investors". I hope this message begins to resonate...it would appear to be our only salvation.
Buff. Do you know how many years you can carry forward corporate losses for tax purposes? IMSC certainly has built up a bunch, which now I understand would in fact be a very attractive part of a buyout when you are correspondingly getting the company when it has turned the corner toward very large orders with profitable quarters in the future. So, with that in mind, I really do tend to "buy into" your "buyout" theory.....and yes I will take 3X at this point.
Buff. I have to agree with your logic that a concerted effort to artificially depress the stock price is afoot, but help me understand .....lets say I want to sell my house and the market will price it at $250,000......essentially that point at which I can readily find a willing buyer. If I put it on the market for $100,000 I will immediately sell it but I won't maximize my value (which is $250,000). Conversely, if I price it at $400,000 I will probably not succeed in finding any buyers. --so to maximize my value (which I assume is what both management and DMRJ wants when it comes to final share price at which they sell their shares) don't I want to see share price as close as possible to real and maximum value of the company? --- what kind of tax consequence would prompt you to want to pursue a "fire sale" before the year-end? Please understand my ignorance I am not arguing with you I am trying to better understand because I have come to genuinely appreciate your insight and, in keeping with my nom de plume, I would like to get out of this stinker with an appropriate Rate-of-return after all these years of loyal yet unrequited patience.
You know I think the single biggest PR move this company could make right now is to announce they are changing their name to something on the order of "Ultra Detection Technologies"...then when the press asks why the move.....explain that the Company representing the gold standard in Explosive Trace Detection , (which owns the patented , and now TSA-purchased and deployed QSB220, which is the only product in the world certified by both ECAC and TSA) should not sound like they are in the business of making irradiated prostate cancer, or silicon breast IMPLANTS!
Come on Glen........ULTRA DETECTION TECHNOLOGIES it would immediately rocket to $3/share.
If I live to be 100, I will not understand the behavior of this stock or the market in relation to it. We have had this toxic financing throughout, yet when we simply get to the QPL (with no guarantee whatsoever at that point that TSA ever buys one penny of product)it goes to $1.80 per share. Yet following the formal receipt of both an IDIQ for 27 TIMES more than the largest single order in company history, and then an ACTUAL ORDER for 7 TIMES more than the largest single order in company history we tepidly limp to $1.47 per share and immediately start trending backward to the low $1.30's .....This is abject Insanity... I have spent 9 years owning this company's stock in small measure, and over 4 years owning it in much larger measure waiting for the promise of the BIG score....so, then Last week when not only does the BIG score come, but it blows even my wildest possible dreams of success out of the water with its magnitude....How am I rewarded....Why with a stock price substantially below that which was in evidence following QPL announcement of course. I give up.....this company simply needs to bought out and the sooner the better.
Today's Press event was all well and good, but it came off more like a technology message than a financial one. For us long-suffering Long investors the simple financial message is "IMSC just received a single order that is SEVEN TIMES LARGER than the previously largest order in the company's history, and it came from the most important purchaser to the industry -- THE U.S. GOVERNMENT" Further, it is just the FIRST Order against an IDIQ. that if fulfilled in its entirety, will be TWENTY-SEVEN TIMES LARGER than the company's previously largest order. There are very few investor/traders who wouldn't pay immediate attention to such a headline ....nobody knows what 1170 units means....sounds like a paltry order if you don't understand the industry....make simple quotes about orders of magnitude....How many times larger is it than anything before it in the company's history.
Isn't it also interesting that this "obligation" number closely matches the amount which triggers the options granted to management.... I think they knew they would be getting this minimum obligation at the time those options were created.
As I asked yesterday, Each IDIQ has both a Maximum ($162Million) and a minimum quantity specified...the Minimum would be a clear "obligation" as this number is titled ....hence My belief is that the $21 M number is the minimum to the IDIQ not the value of purchasing 1170 units with consummables.
Can anyone find out what the "minimum" quantity is that had to be included within the IDIQ? Do you think Glenn will reveal this tomorrow?
Thanks for the Info. Obviously more units employed than I had thought....I wonder how many of that number are kept as spares or back-ups? Do you have a precise number of airports where they are employed?
I think the wholesale price is going to be closer to $34,000-$35,000 per unit and I think the total units in place are in the 4,000's....there are something like 441 airports with passenger service....many of them small with just one unit balanced against Ohare, JFK, Atlanta-Hartsfield et. al but if someone has better info. please enlighten us all
In all honesty, I was beyond shocked by the $162Million figure and have since been pondering its significance. it seems to me that if you multiply every single ETD in place in airports in the United States currently times the approximate wholesale purchase price of the B220, along with appropriate maintenance contracts you probably come real close to $162Million.... Why agree on this number for an IDIQ with IMSC if your plan is to spread the wealth out to IMSC, Smith's, Morpho, etc.? TSA doesn't need to send false signals or politically pander to non-U.S. companies. In fact, where is the IDIQ for Smioths or Morpho? Now, having said that, having been a long-suffering (going on 9+ years) IMSC Long, I have watched this stock go to $1.80 on news of the QPL, when I personally believed that a subsequent IDIQ of $20-$40 M would send this thing to $3.00.......so $162Millions results in a $1.28 sp........WTF?
In my opinion, the answer to your question is "non-existant".
I have wrestled with this feeling for a long time, but I now recognize that I have come to the personal belief that the current management team of Bolduc & co. are simply not capable of ever achieving meaningful sales of products. To their credit, they have been undeniably and extraordinarily successful in achieving qualifications and certifications; building an impressive portfolio of intellectual and patent-protected property; and bringing this tiny, meagerly-financed company to the cusp of great things. They just don't seem to have the skill-set to translate what they have been so good at (setting the table) to what they are not good at (serving the dinner). Throughout history there are countless examples of great leaders in business, politics, sports, and elsewhere who were likely the only ones capable of leading their organizations at the critical juncture of time they found themselves in. But, who then later, as history would judge them, prove entirely inappropriate for the next step of organizational evolution which would follow. I feel IMSC has reached that organizational evolution. AS a long (now deeply frustrated) investor I don't wish to be another negative voice, but each day that passes without any sales whatsoever I am seeing the wisdom in Buffalo's statements. Sorry Guys but someone needs to reassure me......I am heading back to that ledge.
I have been a loyal and enthusiastic Long for more time than I want to think about. I have drunk the Kool-Aid until I have gotten a sugar-buzz. I have been patient beyond what I had ever expected of myself given I have my life savings at stake. But I have to admit, its getting frustrating. Yesterday, the company releases that it is getting $2million in free money, as well as the ultimate "goodhousekeeping seal of approval", from the single-most important entity to its long-term destiny ( mind you that, assuming a 25% profit margin, $2million in Grants is equal to $8Millioin in sales) and the stock price.........wait for it.......GOES DOWN? Had we announced $8Million in sales would it also have gone down? someone talk me down off the ledge.
VHS didn't employ radioactive elements in order to function! So, the analogy is weak at best.
109,700 shares. some since 2004, most in last 3 1/2 years.
Ahem........may I offer my most heartfelt and thoughtful ....BOOOOOYAAAAHHHHH!
Frankly, I too have pondered to what extent the "expected" QPL and IDIQ order from TSA may or may not be "priced into" the current share price, but then I think that:
1.) the biggest single order the company has ever received was for $6Million from India and the first order from TSA (not considering follow-ups in next fiscal year) we believe will approach the stock option-triggering threshold of $21 Million.
2.) We have seen a stock price of as high as $1.80 with no news or orders to rival what we are now expecting. And, we saw $1.38 and rising just before the scum-sucking ambulance chasers put out their bogus "stock alert".
3.) I personally own 110,000 shares and there hasn't been a day in weeks (since the scum-suckers, see #2 above) when the sum total of all shares traded in a day even equals my personal holdings.
To wit; I have been holding out for minimum $3.25 and have promised my brother to take him and his wife, all expenses paid, to the Caymans, if PPS exceeds $5.00.
My conclusion is: I am optimistic that I (along with my brother)will be shopping for tropical shirts come February/March, 2015.
I seem to recall that at one time Glenn had suggested that an IDIQ could be negotiated or entered into once OT&E was completed and while the report(s) were still in the process of being completed. Is my memory faulty (Which frankly, it often is), or must we wait until after the report is complete and issued?
"groundhog day"......
Is anyone else feeling like we are stuck in an investor's version of "ground-hog day"? Every day we start at a dollar; trade a measly few thousand shares during the day dropping a couple cents in the process; then finish the day exactly where we started; all the while never hearing of any sales or activity of any kind -- hoping desperately that grand things are happening behind the scenes that will result in the much-anticipated announcement of the "game-changing" TSA IDIQ order not to exceed $100 Million? It's driving me insane, but like the rest of you I've ridden this horse way to far to quit just shy of the perceived finish line.
Today's PR seems to suggest that IMSC has sold $20M in product to China To-date. Is this another cryptic and poorly worded PR or have I missed that announcement of all those sales?
As are most of my fellow share-holders who follow this board, I am intensely frustrated with the stock price and the anemic sales. However, I think we may be missing the significance of today's PR. That is, over a month ago TSA officials and their Canadian counterparts visited implant's manufacturing facility. They weren't doing this for a way to get out of the office for the afternoon. They were likely there getting final assurances and comfort prior to what they expect will be a very large contractual order for equipment in the relatively near future. To me, This PR is one of the most important we have ever seen if you can read between the lines. I think Glenn is winking at us with this one, and I for one feel better for the subtle message.
Buff. For some of us, you have been a voice to count on for hard-hitting due diligence. You have been the one to point out when the emperor has no clothes, and one to temper the pollyanna's who see only sunshine and unicorns. I for one have counted on you to point out the flaws and the reasons for frustration and even contempt. Having said that, I really don't like the new sarcasm masquerading as "born-again" faith and true belief. Please give us the old buffalop51 back -- the board will be better for it. The current situation is dire and having some of us question how much longer we can go before throwing in the towel. All the months (years?) waiting for the massive sales to cargo leading up to equipment expiration and now a month AFTER expiration --NO SALES....Can this company make it?
Amen Brother, Amen!
No kidding. The close of 2013 and the "absolute mandate" to replace cargo screening equipment which no longer met requirements was to mean tens if not 100's of millions in sales. Do we know if even one sale has been made to anyone who was replacing their "now-obsolete" ETD with an IMSC model? I have made money with truly marginal and downright crappy stocks in the last 6 months during this impressive Market run-up, yet with the one stock that I have been a true long investor in (IMSC), and risked much of my life savings, nothing but losses ( yes on paper I haven't sold yet). Frustrated as he%#.