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a merger would create a brand new entity, with new shares, determined in proportion to their relative values.......
i highly doubt Raytheon or L3 is going to "merge" with IMSC........a smaller entity such as ASEI, perhaps this would be the deal, but even they are about 4 times greater in market cap.....
in a buyout the common shareholders would just get cash (or stock in the acquiring company), and IMSC would only exist as a subsidiary of the acquirer......
well said, but at least it will all be over
this is all great, unless of course the sale price is somehwere in $1.40-$1.99 range.....
i would rather sell at .12 en route to Ch 11, rather than have wasted 3 years telling myself why sale price would be north of $3.......
..........terminated with EXTREME prejudice....
lock and load
imagine if TSA awarded us the IDIQ in January........and then the protest filing........with the finance clock running out BEFORE the 100-day protest period.......
.....THAT would have been painfful...
thats true enough regarding the 220 not going to tossed aside.........and perhaps a larger entity will have better pricing power ? or can save on production costs ?
my two cents:
an acquirer would probably be interested mainly in integrating IMSC technology with their own product line, and not to acuire the earnings stream of an ongoing business, and especially one in such a competitive arena......how acretive to the acquirer's EPS will it be if we are talking about an L3 or Raytheon or FLIR or any mega-cap ?
for this reason i dont expect that any interested party would need to see 2 or 3 quarters of profitability....
i've lost before, sadly, more times than i care to recal.....but...........
on this particular occasion, more than any other, i would LOVE to learn WHY exactly, that DMRJ is the only game in town ?
WHY hasnt ASEI or L3 or whoeverthehellelse found it acceptable in their risk/reward profile to take a small starter stake in IMSC........?
its the WHY NOT, that kills me
.......but for another $150 consulting fee, the home page can be changed in about 8 minutes to read: "a wholly-owned subsidiary of _________"
so i dont think the immediate sale possibilty was hurt at all.....
of some interest, is that under investor relations, it shows they havent scheduled the earnings call yet.....someone here said MT said it would be 2/17........if no PR about that by end of day today, i suppose it means they are definitely waiting for something more material than the December quarter results, and dont want to field Q&A from a bevy of anxious retail shareholders....
this new appointment, and the "solid financing" may prove to provide some much-needed leverage in buyout negotiations.........if we appear capable of going it alone, managerially and financially, maybe we can squeeze another x% out of a suitor....even if it takes a few more months....
i hope this means they expect there to be something significant, which requires a vote.......as in a tender offer for the company.....
why else ? to approve the auditors ? who cares
i would HATE to be the host of the next conference call Q&A stroke session, if all they are able to discuss is the Q2 results, and then for the hundred other reasons that we are all guessing about, why they are not at liberty to discuss anything else.........
my position is i have a nauseating feeling that they are going to do a crappy PIPE deal at 90 cents to 1.10 with warrants, of course, and drag this out for another year.........
Buzz needs to raise his probability estimate on that from 10% to 30%.......it would be just soooo lovely if a huge player would take a 25% stake for $X million, as a precursor to an ultimate acquisition.....but i would have to see it to believe it...
so i am praying for a quick buyout, as you are, but i never get that lucky....if i sold out, you'd have a much better chance of getting it......i just hope it does not take another mass casualty event.....the world gets more scary by the day....
Glenn didnt want to sell, he wanted to pay off the debt with sales proceeds.......that would have taken too long to achieve, thus the parting of the ways.....he also didnt want to issue new equity at $1 (this per our conversation over the summer) but at a price at least double that......
those comments you got yesterday sounded pretty boiler-plate from an exec who needs to say very little right now.....
i dont think its odd at all, to be nervous at what the market seems to be telling us, and yet desparate enough to buy more at the same time.......i have a gambler mentality, which has cost me plenty over the years, looking for the next 1000% gainer......
after spending so much time researching and supporting what is clearly cutting-edge product, listening to conf calls, etc, its a tad frustrating to come away empty...
multiple ID's here ? no, not me........multiple mood changes ? most definitely......
do you have a point ????
i am still here because of my refusal to accept what the market has somehow determined
this is why i am worried to my core........the stock is not trading like anything that has a hope...i dont care how many scientific geniuses are now at the helm.........
theres an old Wall St adage: listen to the market, it tells you everything...
i pray we are the exception that makes the rule...........................not liking our odds right now
dude, you are so right....
i have another 7 G.s available on Tuesday, which i am determined to toss onto the fire, if only for the sporting interest and to justify the 3 yrs trading/investing in this mutt......
that being said, i would take 2.25 on monday morning on my first 33,000 shares (avg cost=1.20) and never read another post here again, or discuss whether Glenn cleans himself with his right or left hand....
maybe i will even pay the tuition with it.....
god help us all
my two cents: i believe that to be the case.....
on the last CC he clearly stated his preference of repaying debt from sales, and seemed to scoff at the prospect of negotiating with other firms who he said "called to say 'now it's time to talk' ".........so, yes it seems to me he was trying to talk DMRJ into another round....
in the bid protest FAQ's on the GAO site there is a comment plainly stating that in the event a protest is sustained by GAO, the agency in question (tsa) then informs GAO of its intention to comply or not.....
it seems as if any decision on these protests are not legally binding....
either i can't read or its a very misleading statement.....
i think a ( hopefully remote ) possibility of McGann taking the company private at .90 - 1.10 and grandly hosing us all has to be part of the outcome spectrum.....
i just hope they arent going to take the company private now.......
and all that remains are the faces and the names of the wives and the sons and the daughters
interesting item in the bid protest FAQ's on gao.gov:
"What happens when GAO sustains a protest?"
If we agree with a protester that the agency violated a procurement law or regulation in a prejudicial manner, we will issue a decision sustaining the protest and recommend that the agency address the violation through appropriate corrective action. The agency must then advise us whether it will comply with the recommendation.
does this mean that TSA can just ignore the GAO ruling ?? makes it sound like they are not legally bound to do anything.....
can you imagine ?....
mid-February Conf call: still waiting for protest dismissal....still waiting for re-fi................of course, still waiting for new orders....
there is no mandate for a pinkie to hold any conf calls.....especially now that after these watershed moments we retail folk are deeper in red.....better that they just report the results and not host another useless Q&A........
i have my "young'un" holding shares too.......
they were supposed to pay tuition for Junior year at private college.....
that didnt work out like i had figured, so i took out a loan.....
yes, i'm a sick bird for setting myself up again, but now trying the same thing for Senior year.....
mercifully, this will be the last disappointment, unless........................
at least you dont need the money in 6 months.....
deals can be specifically conditioned on any event, no ?
any new financing arrangment or acquisition aggrement can simply have an opt-out clause drafted into it......unless i'm wildly deluded, which is possible....
i would love to hear something like: we have reached an agreement with ABC to be aquired at $X. This agreement is subject to the resolution of the protest of our TSA contract award.
-9horse
i can't find the post now, but somebody right after the protest was filed, showed where there were two types: one where TSA says "vendor, continued as planned" and another where TSA says "vendor, hold everything"............i am pretty sure i have ready every post here in the past month, so unless i missed one, does anyone know if a) that post was true and b) what type of protest this is considered.....
-9horse (who needs one more year of private college tuition money for his foal)
one of my favorite scenes in all of film !!!!
what is that, a hatful of winners ??!!
LOLOLOLOLOL
didnt know that movie was out yet !!! was it as good as the original with James Caan ?
cant believe they harked back to Pompei for a line clearly illistrating the mindset of a compulsive gambler....
be it ponies or penny stocks
-9horse
i once went all-in dropped a mint on a biotech because i heard the phrase "fortune favors the bold" (uttered by Pliny the Younger, as Pompei was being burried in volcanic ash)...........i was never one to learn from mistakes, and thus, i'm all-in IMSC now too.................kid in college too.....tsk tsk tsk...
-9horse
technology integration with boeing or L3 ?
is that currently underway, or still in planning stages ?
i don't see any specifics mentioned in conference calls or the Q&A, any agreements in place ?
any info is appreciated, thanks....
-9horse
alternative to outright acquisition ???
how feasible is it that an acquirer might first take a minority interest in IMSC instead of forking over 300-600 million all at once.......seems they could phase in ownership, limit their near-term risk, and at least squeeze DMRJ out...
thoughts ?
regards,
9horse
what about ASEI as acquirer ???
hello folks, i am a long time reader of this board, and first time poster.....lots of good stuff from most of you, and i share your frustration.....
was just wondering if anyone else thinks ASEI should be interested in us, especially in light of their recent problems with angry shareholders and declining sales......
can they not afford us ? im guessing that an offer from them may need to be partially cash, the rest stock, which may not be so attractive.....but it seems to be a logical fit i think.....
regards,
9horse