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I understand what you are trying to do. I remember, several years ago, someone posting on a MB that they got a statement at the end of the year from their broker, regarding some bonds that were delisted. It couldn't hurt to check with your broker.
Since FINRA delisted the stock and notified your broker that it could no longer be traded at any price, I would check with your broker to see if they are going to include this loss in your end of year statement. That would make sense to me.
If this is the case, then any payout you get could come with a 1099 to report as a gain. I am not sure this is the way it will go but your broker should know because they have seen this happen before. Let everyone know what you find out.
Yes what a righteous Karmic payback he likely deserves from those who criticized him day after day., called him a crook, and fabricated why he was let go. Seems like it wasn't because he sweat at a product demo in NY after we got the TSA order, doesn't it? Since everyone was told his address, maybe he should be getting some apology letters, eh?
I did not need to see your video. I took the time to visit the company and speak with all the EXECS myself, just as I took the time to go to Naples and see Franky fly myself. That's what a SHAREHOLDER should do when he has a large position.
If you care so much to see another video of the event, buy some stock and come to the shareholders meeting and I will personally show it to you on my cell phone. By the way I wasn't the only shareholder there to see Franky.
Cheers...... Don't have the time to spend all day here posting.
Please reread my post. I said the FAA knows about Zapata. They had to get PERMiISSION to fly in a PUBLIC park . I never said they were CERTIFIED.. So the FACT is the FAA has been aware of Zapata for some time.. I would assume that Zapata has or will take steps to be certified if necessary.
Now as far as my video. I have shared it with other shareholders already. I have no intention to share it with documentary film makers , who could edit it in a manner it was not intended for.
I made the effort to go there and see it for myself., did you?
Just to let you know the FAA knows about Zapata. They had to get permission to fly in Naples. I know because I was there and have my own video.
FACT
Funny that after that doc you showed us, the judge is going to be reviewing the procedures for the stalking horse auction. Then of course there is the representative from another company surfacing in the court proceedings.. Check it out, you'll find it.
FACT.......
Are you so sure you read everything in those files on Pacer? I would look again. Me thinks another Possible suitor identified themselves there. Did you know that?
FACT........
For sure there is an explanation for everything. My guess they probably want to waste the Court's time having a stalking horse auction.That sounds plausible doesn't it?
In order for them to use the NOLS most effectively, they would have had to structure the deal as a reverse triangular merger with implant as the surviving entity. For whatever reason that was not what they wanted.
In this case with Zapata, Zapata will merge into the Implant shell . The Company is the surviving entity. That in itself is not a CIC. It's also important that no 5% owner will trigger a CIC so they will be able to use the NOLS most effectively.
So I don't regret ever bringing this up Ted, Let's go forward and not revisit what if's. I beg of you, please!!!,,, It serves NO purpose.
For sure they will brag about the bargain they got. It's also important to remember that this was just an asset sale. That does not include the value of the NOLS. Besides the FACT that their loans plus interest owed to our 3 lenders totaled approximately 84.1 million, first day bankruptcy filing includes the fact that they have incurred AT LEAST $116,000,000 in consolidated NOLS for US Federal Income Tax purposes. These NOLS stay with the remains shell, not L3. Had they gone to L3 the price would likely be higher.
They also did file the standard bankruptcy NOL motion for trading in US Securities under section 382 and Section 383 which of course involves 5 percent holders.
This is my last post for the day. That 5.2 million in debt was included in the total debt. If they convert that 5.2 million to shares than you remove the 5.2 million paid from the cash amount. Simple as that. one or the other.
OMG chill out for your own sanity. Good Night.
Sorry to say but your calculations drive me crazy.
If you pay off all the debt straight out, there is no dilution so why are you adding diluted shares into the total shares outstanding now, when you paid off the debt without them converting?
How about this. According to the bankruptcy petition filed on 10/10 the company said it owed approximately 84.1 Million in debt INCLUDING interest to BAM, DMRJ and Monsant.. Now that is FACT!!!!
Yes there will be new shares issued and they will go to existing shareholders. Stop stirring the pot. There are quite a few shareholders here who have bought companies in bankruptcy and know what they are talking about.
How about we listen to the CC before we start a bunch of nonsense.
Please tell us what in their current loan covenants allows them to refi with anyone else.
Did you forget that you told us MULTIPLE Times that you have no intention to ever own this stock? So is it that you have no intention of EVER owning this stock and you just want to be here as an expert on everything in the universe. Or is it that you will buy the stock if orchestrated, overwhelming negative sentiment here drives the price down lower?
Fair question because you are here posting , while working on another Company's dime. And as far as what goes on in a start up environment, I worked for 2 start ups. One being EMC. I can assure you that Dick Egan and his honcho's walked the floor every day making sure Every employee was doing their job. There was no money wasted on employees doing their own thing. If anything, we worked harder because we knew the company's future was in our hands.
You probably missed the FACT that he doesn't own any stock in IMSC but chooses to be here to educate us on every topic in the universe.
Since you are so familar and a proponent of lawsuits , please dig deep and let us know if Mr Miller received any proceeds back from his lawyers legal fees billed and paid by the Company in his bogus lawsuit. We need some investigative reporting on this. After all, it ultimately came out of the shareholders pocket. Could be, he would be open to another frivolous lawsuit that would benefit just him again.
Just sayin.....
Sorry to hear you have a headache. Try relaxing and not thinking so hard about a stock, that you have no ownership in. I have to say though, it's amazing how much knowledge one person has about every industry you can think of.
Just sayin....
Sounds like you must have some insider information here that the majority of us don't have since you seem to be stating your opinions as known facts. It's ludicrous to state that the Company will take a lowball offer to hurry up the process. You may convince some here but you won't convince the rest of us of that.
As far as a refi, please tell us what in the loan covenants allows this. Unfortunately I can't find anything in there that makes this possible. And a shareholder lawsuit if we do not like your terms or the price ? No one wins with a lawsuit because you can't get money out of a stone. The only ones that will win there are the lawyers.
Seriously, we will get what another Company feels they want to pay. We don't have any control over that. The price may be good for me, but not so good for you. What that price is we will find out soon enough.
You may not like the Zapata deal but it may work out best for us in the long run. How about we all wait for the final deal to be revealed before we Stir the Pot unnecessarily.
Just sayin
Perhaps my use of the word reasonable was a little confusing in the context of what I was saying. One of the benefits of having Dr Jones on our team is that he had many established relationships within the Industry and he knew the players in Morpho. He knew what the sales people were saying to other customers regarding our company . He most likely taught some of them what to say regarding the Competition. ..."Smith's violated our patent, Implant is on shaky ground and could go out of business and then your investment was for naught" From industry insiders and his knowledge of the players,He knew exactly the strategy Morpho would take and dropping the price was definitely in the realm of possibility. What was left was to figure out how low they would go to get the order.
He did a pretty good job of figuring out that reasonable price point. He chose a price that the TSA could say was not way out of line versus the other 2 bids , but "reasonable" and yes Mr Morpho your product didn't meet our specifications.
As far as lowering the prices on the second order, the posted order against our contract did show there were 3 bidders. As I said before take away the debt, and you remove the reason for them to drive the prices down. Then add what Zeynoc had to offer in his post and you have a very attractive takeover target. What price will that be will be up to what the acquiring Company values it at.
It's amazing what you can learn from established relationships in the industry. Also there is nothing to prevent Contracting to come back and ask you for your best and final offer. In other words " time to sharpen your pencil folks"
IMHO, they would never had gone there with that price unless they had an inkling of a price point that would get them the order. They needed to be in the reasonable ballpark. I don't believe it was an accident, that they wound up in that REASONABLE ballpark.
Yes it was. And I don't know about you, but I strongly believe the erosion in prices per unit has nothing to do with market forces driving the prices down. I think it is a orchestrated effort by the competition to drive us out of business and garner everything for themselves. They could not do that by making a much superior product so they chose to drive the price so low on their competitive bids, forcing us to play that game and effecting our bottom line. For sure they know what our interest expense is and the effect it has on our ability to carry on .
You watch, as soon as someone,with no debt constrictions, buys us out ....the price per product will dramatically rise.It will no longer serve them to play this game.
17,453,000 in revenue, 2,335,000 in losses. We are paying about 2.5 M il in interest every quarter. that's what is killing us. Of course I am sure we racked up a lot of lawyers fees this quarter also.
At this point, respectfully speaking, who cares. This will be over waaaaay before you ever get an answer.
Does the start up you are working for know you are spending so much time posting on a OTC message board on their dime? You must be so high up in the food chain there that you never need to show up to work.
Just sayin...
What's really amazing is that someone who owns no stock in a company would spend endless time on a MB for an OTC stock. You would think any self appointed genius would have better things to do.
My point is no one here, or anywhere that I know of, has been correct on any conclusion to this ever ending saga. All this speculation is just that, speculation .It has done nothing to get us any closer to what the outcome will be. It serves to keep us entertained though
The Company told us their plan to go to the Nasdaq, if a sale was completed, certain proceeds were realized and the shareholders approved the deal with the sale of the assets and the purchase of Zapata. Now we await the first piece of the puzzle.....the completion of a deal to sell the assets. After that the Company will lay out the rest to us and we will get to vote aye or nay. This is not a simple buyout where we are able to put a number out there after analyzing certain financials, patents, the marketplace etc. That being said, who knows, it could turn out to be that.
The only knowns here is that Franky's ride is going viral today and the Company has not finalized any buyout offer or refi. Today, we got a little taste of the excitement that could occur if we take Zapata to the Nasdaq. All our other speculation now about how this deal will go down is just storytelling, which will most likely turn out incorrect. Once we have the facts from the Company's finalized offer, then we will know how we can get to Nasdaq.
JMO. you can take it or leave it.
Sorry but I don't deal in YOUR subject matter. Speculating on a message board on how we are going to get there is not my thing. I will wait for the Company to lay out the details on this.
One thing is for sure and that is you cannot dismiss the excitement surrounding the event, that was just showcased for the first time in the US. It was jaw dropping to see it in person, I can assure you of that. 12 million views and counting , 273k shares and counting gives you a little taste of the interest in this.
Just saying.....but continue on with your narrative, it's entertaining.
12 M views, 273k shares now. When this goes to Nasdaq, this will more than just fly. It will soar because of all the excitement surrounding it.
How about we wait to see if they do the right thing? You say It may be easier to back away before we know if they planned all along to do the right thing but the fact is they will have to hire lawyers to answer our filing and it will cost the Company and us shareholders to pay the legal fees. A good Corporate lawyer charges between $350 and $700 an hour and each task they do , eg. Faxing or emailing has a minimum percentage charge of that hourly fee. trust me. I know all about lawyer charges. When they see a Corporation is involved they rush in for "pay day. "
Sorry, I don't agree about it being much harder to file after the fact. It actually is much easier when the offense is staring everyone in the face. Any Reputable lawyer you go to,wants to see the offense spelled out before they take the case. They don't want to hear "I think they may be going to do this." Of course Ambulance chaser lawyers take anything but likely get you nothing.
Just sayin....
Yes the fact that we get to vote is a positive. Let's see what we get before we all make a judgement on anything. Starting premature legal action is ridiculous. The only people who win in a PREMATURE legal case is the lawyers. You saw what happened in the bogus miller case? What did we get? A shareholders meeting that served no purpose. And it cost us,as shareholders, thousands of dollars in legal fees even though the case was dismissed. Legal threats are a scare tactic to get shareholders to dispose of their stock. For sure, I have been here long enough to ignore story telling.
Let's let this play out before we jump to any conclusion. Some people have vivid imaginations and are trying to get their stories included in Grimm's fairy tales.
Winters, I know your posting history and I definitely was not talking about you. We all know the offenders that like to spin their tales and that does not include you. Sorry if you got that impression.
You do realize that posting the FACTS from what the Company has put in writing ruins story telling hour for some? You now have messed up " I will huff and I will puff and blow this house down"
Ya think????? Now that makes too much sense to be posted here. You have to go with the unsupported non facts that are presented as facts here.
Just sayin......
Where did you see the Department of Homeland Security and the TSA voiced their concerns ? Is that inside information or was it voiced publicly ?
Somehow I missed your link to show that 4 different Government agencies are involved. Can you post it again.
TIA
You think it is Comedy and they think it is Criminal. Who would have thunk!!
Implant Sciences' Ticker Hacked on Yahoo Finance Website
September 06, 2016
Implant Sciences working with Yahoo to restore proper ticker symbol.
WILMINGTON, Mass., Sept. 6, 2016 /PRNewswire/ -- Implant Sciences Corporation (OTCQB: IMSC), a leading manufacturer of explosives trace detection (ETD) solutions, announced that the company was made aware today, September 6, 2016, of an apparent hack of the Yahoo Finance Website, which resulted in the IMSC ticker symbol being falsely represented as Zapata Industries. All other trading sites are using the correct symbol for Implant Sciences Corporation, OTCQB:IMSC.
Implant Sciences' shareholders should be advised that there has been no change in the IMSC trading symbol. The potential transaction involving the acquisition of Zapata Industries has not been finalized nor has it been presented to a shareholder vote for consideration. Implant Sciences is pressing Yahoo Finance to resolve this issue quickly and to notify the appropriate authorities to investigate this criminal hack.
I am sure there is a way to explain these away. We just have to put on our thinking cap.
The reason that you never saw it is that it never happened. Simple as that. And yes it must be reported.