RL's background is infrastructure security maybe even some cyber. That is what I believe he will try to present for the "new" direction.

RL still giving interviews with all the aviation security concerns:

Secure Point Technologies President Robert Liscouski said, "We don't have the same level of confidence in other areas of the world because we don't have the government bodies and stature to assure compliance.

For those who didn't see this.
Implant Sciences Investors Denied Expanded Standing
By Rick Archer

Law360, New York (April 4, 2017, 5:27 PM EDT) -- A Delaware bankruptcy judge Monday denied a bid by a stockholders committee to expand its limited standing to sue bankrupt Implant Sciences Corp.'s lenders, saying the standing issue had “played itself out.”

Bankruptcy Judge Brendan Shannon denied the committee's request for an order finding that they could file new claims in the future against lenders DMRJ Group LLC and Montsant Partners LLC, saying the question had been settled and leaving it open could endanger future debtor-in-place financing.

“The prospect of the equity committee returning to this...

Judge Wary Of More Leeway To Sue Implant Sciences Lenders
By Jeff Montgomery

Law360, Wilmington (March 23, 2017, 5:12 PM EDT) -- A bid by a stockholders committee to expand its limited standing to sue bankrupt Implant Sciences Corp.'s lenders could send ripples well beyond the already-sold explosive detector maker’s case, a Delaware bankruptcy judge said Thursday.

Judge Brendan L. Shannon made the point after hearing arguments Thursday on a motion for reconsideration of his Jan. 30 order allowing the official equity security holders committee to pursue insider trading, usury and related claims against lenders DMRJ Group LLC and Montsant Partners LLC.

sorry, my subscription to Law360 ended for the rest of the story.

Info on proposed mediator: https://ballotpedia.org/Allan_L._Gropper

Mediator appointment paperwork submitted: http://www.kccllc.net/imxacquisition/document/list/4398

I wrote it was Ponzi scheme. Victims were repayed. My hope is the EC is able to get investors some relief, that is all.

saw a Datline last night that mentioned a Ponzi scheme ($1.2 bn) orchestrated by Florida lawyers and Read today the victims have been repayed. I hope we too will get some good news soon.

PP changing their lawyers I their civil case:

Platinum Partners, Dechert Parting Ways In $1B Fraud Suit
By Carmen Germaine

Law360, New York (February 14, 2017, 5:41 PM EST) -- Platinum Partners and its chairman are replacing Dechert LLP with new counsel in a civil case over their alleged roles in a $1 billion fraud scheme, according to a letter filed last week in New York federal court, less than two months after the hedge fund and its executives were hit with criminal charges.
Dechert LLP partner Andrew J. Levander, the attorney for Platinum Partners chairman Mark Nordlicht, Platinum Management (NY) LLP, the investment adviser for the hedge fund, and Platinum Credit Management LP, filed a letter on Friday in New York federal court saying Nordlicht and Platinum Management are “in the process of transitioning to new counsel” in the civil case brought by the U.S. Securities and Exchange Commission.

The SEC filed its case on Dec. 19, alongside parallel criminal charges accusing Nordlicht and his colleagues of inflating the value of Platinum’s investments in now-defunct offshore driller Black Elk and duping its bondholders.

It was not immediately clear which firm Platinum and Nordlicht are retaining to replace Dechert, or whether they are retaining new counsel in the criminal case as well. Levander, Platinum Partners and the Platinum Partners receiver declined to comment Tuesday. The government does not comment on pending litigation.

Levander’s letter asked U.S. District Judge Dora L. Irizarry for a further two-week delay of a planned hearing on the SEC’s motion for a preliminary injunction, after the SEC previously requested a 60-day adjournment. U.S. District Judge Kiyo A. Matsumoto had entered a temporary restraining order the day the case was filed, while also appointing a receiver over the Platinum Partners funds.

“The expectation is that this further adjournment will allow the parties to resolve the SEC’s motion consensually and accommodate the transition to new counsel,” Levander wrote.

The letter came several days after the receiver, Guidepost Solutions Chairman Bart M. Schwartz, posted a message on a website for Platinum Partners investors indicating that he has already begun to take possession of the funds' assets and conduct an orderly wind-down.

Schwartz appeared to have an optimistic outlook for the liquidation, telling nervous investors whose investments have been tied up in the funds that he and his team are “working diligently to put ourselves in position to return funds to you in a fair and equitable manner as soon as reasonably possible.”

He added that he and his team intend to “purposefully and prudently” liquidate the funds’ investments and “do not intend to engage in a fire sale.”

Meanwhile, on Tuesday the government filed a reply supporting its bid to freeze discovery in the civil suit while the criminal case is pending. Nordlicht, former Platinum managing director Daniel Small, former Platinum Chief Investment Officer David Levi, former Platinum Chief Financial Officer Joseph SanFilippo and former Black Elk Energy CEO Jeffrey Shulse had opposed the stay.

But prosecutors said the executives’ request for a partial stay, which would allow all discovery except depositions and interrogatories where the party or witness could invoke the Fifth Amendment, would give the defendants an “unlawful tactical advantage in the criminal case by means of asymmetrical discovery favoring the defendants.”

The government’s suit claims that a 2012 explosion at a Black Elk oil platform in the Gulf of Mexico made the driller's already bad financial situation worse, but that Platinum deliberately kept painting a rosy picture for auditors and investors in its Platinum Partners Value Arbitrage Fund LP.

By early 2014, Platinum was using new investments and high-interest loans from other parts of the hedge fund to pay off PPVA investors, but gave priority to those who claimed hardship or who might have sued, not those entitled to be paid first, according to the criminal complaint.

Platinum's tenuous position led Nordlicht and Levy to work with Small and Shulse to form a plan to sell Black Elk's best assets and have Platinum jump ahead of bondholders to get the money, prosecutors claim.

To change the bond agreements, Platinum bought up a majority of Black Elk bonds, and then had the oil company offer in July 2014 to cash out the $52 million in bonds held independently. But prosecutors say the hedge fund only revealed $18 million of the $98 million in bonds it held.

PPVA is being liquidated in proceedings initiated in the Cayman Islands and dealing with U.S. creditors in a Chapter 15 bankruptcy case in Manhattan.

The SEC is represented by Andrew M.Calamari, Sanjay Wadhwa, Adam Grace, Kevin P. McGrath, Neal Jacobson, Danielle Sallah and Jess Velona.

The Department of Justice is represented by Winston Paes, Alicyn Cooley, Lauren Elbert and Sarah Evans.

Nordlicht is represented by Andrew J. Levander, Jeffrey Alan Brown and Shriram Harid of Dechert LLP.

Levy is represented by Katherine T. McCarthy, Michael S. Sommer, Monica Ann Friedman and Morris J. Fodeman of Wilson Sonsini Goodrich & Rosati PC.

Landesman is represented by Joshua Klein of Petrillo Klein LLP and Gregory J. O'Connell, Peter J. Sluka Jr., Philip C. Patterson and Vera Marie Kachnowski of DeFeis O'Connell & Rose.

SanFilippo is represented by Adam C. Ford and Kevin J. O'Brien of Ford O'Brien LLP

Mann is represented by Benjamin Sean Fischer and Jonathan S. Sack of Morvillo Abramowitz Grand Iason & Anello PC.

Small is represented by Scott B. Klugman, Seth L. Levine and David J. Lizmi of Levine Lee LLP.

Shulse is represented by David Rody, Barry M. Rashkover, Michael D. Mann and Sonia Marquez of Sidley Austin LLP.

The civil case is SEC v. Platinum Management et al., case number 1:16-cv-06848, in U.S. District Court for the Eastern District of New York.

The criminal case is is U.S. v. Nordlicht et al., case number 1:16-cr-00640, in U.S. District Court for the Eastern District of New York.

The bankruptcy is In re: Platinum Partners Value Arbitrage Fund LP et al., case number 1:16-bk-12925, in the U.S. Bankruptcy Court for the Southern District of New York.

--Additional reporting by Cara Mannion and Jody Godoy. Editing by Kelly Duncan.

Sept 2, 2015 Liscouski named President of ISC closing share price $0.70
Feb 9, 2015 Liscouski named EVP closing share price $0.90
Jan 20 2015 McGann named CEO and closing price $0.91

If the EC could get us any of these, I would be a happy camper.

Look, at the end of the day, we all want the same thing-as much as possible for our shares, bickering in this board just gets the blood pressure up.

Thanks, read it too fast.

EC does not have standing on four counts to include fraud but can move forward with eight others including insider trading

http://www.kccllc.net/imxacquisition/document/1612238170207000000000002

Bob has been connected to Zapata since 2009 and President of Zapata Industries SAS since 2015, looks like that may have been the angle for som time.


Mr. Robert P. Liscouski, also known as Bob, has been President of Zapata Industries SAS since September 2, 2015. Mr. Liscouski founded 3DRSAdvisors and serves as its Managing Director. Mr. Liscouski serves as Head of Business Development and Strategy at Secure Strategy Group, LLC. Mr. Liscouski has been the President of Advisory and Forecasting and Chief Operating Officer of Steel City Re, LLC since 2006. He serves as an Advisor to the U.S. Government on technology matters. Mr. Liscouski served as an Executive Vice President of Business Development at Implant Sciences Corp. since February 2015 and its Executive Vice President. Previously, he served as the President and Chief Executive Officer of Content Analyst Company, LLC. Previously, he served as Director of Information Assurance/Chief Information Officer at The Coca-Cola Company. He served as the Vice President of the Law Enforcement Division of Orion Scientific Systems. Earlier in his career, Mr. Liscouski served as a Diplomatic Security Service Special Agent with the U.S. Department of State for 11 years and a Homicide and Undercover Investigator for the Bergen County (New Jersey) Prosecutor's Office for five years. He served as the First Assistant Secretary for Infrastructure Protection for the Department of Homeland Security, US from 2003 to 2005. He commanded over a $500 million annual budget and was responsible for coordinating authority over the protection of all sectors of the nation's physical and cybersecurity infrastructure, including energy, food, water, public health, transportation and hazardous materials, as well as key assets such as national monuments, nuclear power plants and dams. He has been a Member of the Board of Directors of Zapata Industries SAS since May 2009. He serves as a Member of Advisory Council at Vigilant Video, Inc. He serves on the board of several public and private security companies. He served as Director of Viscount Systems Inc. from September 2011 to November 9, 2015 and served as its Lead Independent Director until November 9, 2015. He is a Senior/ Visiting Fellow at the Center for Strategic and International Studies as Washington DC based think tank. He holds an MPA from the Kennedy School of Government, Harvard University and a BS in Criminal Justice from John Jay College of Criminal Justice.

If anyone is in the DC area, new office HQ is irn 215 Depot Ct SE suite 215 Leesburg, VA.

Good luck to the EC this morning. Hoping all goes well.

Yes, thanks.

Yes. Thanks. Has anyone in communication with the EC or judge sent it yet?

Just read that too. Again, another example of funny business being conducted.

Does anyone still have that letter? I admit I didn't take a screen shot and now the link doesn't work.

Tomorrow will be an interesting day on so many levels.

Member of the EC response to standing motion has been uploaded.

http://www.kccllc.net/imxacquisition/document/1612238170119000000000002

So much for your "friend" shedding light tomorrow then.

8k 13-Jan-2017 Change in Directors or Principal Officers, Financial Statements and Exhibit


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Effective January 6, 2017, Secure Point Technologies, Inc. (the "Company") entered into a service agreement (the "Agreement") with Christopher Roberts, pursuant to which Mr. Roberts agreed to assist in the preparation of the Company's financial statements and provide related services. In connection therewith, on January 6, 2017, the board of directors of the Company appointed Mr. Roberts as the chief financial officer of the Company.

The Agreement may be terminated by either party upon 14 days' prior written notice. Pursuant to the Agreement, Mr. Roberts shall be an independent contractor of the Company and shall be paid on an hourly basis.

Mr. Roberts has a law degree from the University of Virginia Law School and a B.S, in Electrical Engineering and an M.B.A., both from the Massachusetts Institute of Technology. The M.B.A. was concentrated in Finance and Management of Technology. He started his career working for Raytheon Co. (a Fortune 500 company). Thereafter, he practiced law at two large NYC law firms. Since leaving the private practice of law in 1983, Mr. Roberts has had several positions in finance (including as a CFO, controller and director of finance and administration) and as General Counsel. From 2010-2011, he was the CFO of Integral Systems, Inc., a public company traded on NASDAQ under the symbol "ISYS." From 2012 to November 2016, he worked first as the CFO, and later as the President of Systems Made Simple, Inc., a wholly owned subsidiary of Leidos.

January 20th can't come fast enough.

We are waiting for pennies as the market rolling since the election.

B220HhT in display at UK security expo Nov 2016: http://www.uksecurityexpo.com/__media/UK-Security-Guide-Complete.pdf

The B220HT was on display in the UK in November: http://www.uksecurityexpo.com/__media/UK-Security-Guide-Complete.pdf Page 37.

Perhaps your friend buffalo should ask when he is deposed.

No honor among thieves.

8K is out

the Transaction, on January 6, 2017, each of Dr. William J. McGann, Darryl Jones, Roger Deschenes, Todd Silvestri and Brenda L. Baron resigned from their positions as executive officers and employees of the Company and any of its subsidiaries, as applicable, and Dr. William J. McGann resigned from his position as a member of the board of directors of each Seller.

Thanks.

Court case name change: FIAC Corp. (f/k/a IMX Acquisition Corp.)
Case Number: 16-12238f

Today's filed document show the hearing scheduled for the 10th was cancelled and no matters going forward, does that mean the whole thing is over? Is the EC finished?

http://www.kccllc.net/imxacquisition/document/1612238170106000000000001

-L3 Technologies announced today that it has completed its acquisition of the explosives trace detection (ETD) business of Implant Sciences Corporation (Implant), and it was funded with cash on hand. As previously announced, L3 entered into an asset purchase agreement (APA) to acquire certain assets of Implant for $117.5 million in cash, plus the assumption of specified liabilities. Implant had previously entered into Chapter 11 bankruptcy protection and received U.S. Bankruptcy Court approval to consummate the APA in December 2016. L3 will integrate this business into its Security & Detection Systems division within the Electronic Systems business segment.

“We are pleased to complete the acquisition of this business, which bolsters L3’s leadership in efficient, scalable security solutions and greatly enhances our capabilities in the global aviation security and national security markets”
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Implant’s ETD products have received approvals and certifications from several international regulatory agencies, including the TSA in the U.S., ECAC in Europe and the Ministry of Public Safety in China. In September 2016, the TSA placed a delivery order for 1,353 of Implant’s QS-B220 systems and related supplies.

“We are pleased to complete the acquisition of this business, which bolsters L3’s leadership in efficient, scalable security solutions and greatly enhances our capabilities in the global aviation security and national security markets,” said Michael T. Strianese, L3’s Chairman and Chief Executive Officer. “Adding Implant’s ETD business complements our market-leading checkpoint management systems and security efficiency software through our recent acquisition of MacDonald Humfrey. Together, these businesses provide L3 with a full suite of solutions and position us to capitalize on the significant opportunities in the growing security and detection market.”

“Over the past year, we have focused on developing total aviation checkpoint solutions built around our innovative ClearScan™ carry-on baggage screening system and our ProVision® personnel screener, and we introduced a number of new integrated systems to increase the efficiency of the security screening process. The Implant Sciences team developed state-of-the-art trace detection technologies that are market-ready and fill a critical gap in our sensor portfolio,” added Tom Ripp, President of L3 Security & Detection Systems. “The Implant Sciences management team brings both strong domain expertise coupled with deep technical capabilities focused on innovative trace solutions, and we look forward to the team’s contribution to achieving our strategic growth initiatives.”

Based in Wilmington, Massachusetts, Implant filed for bankruptcy protection pursuant to Chapter 11 of the U.S. Bankruptcy Code on October 10, 2016, with the intent to sell its assets pursuant to court-approved bidding procedures. L3 was the successful bidder under these procedures and received approval from the U.S. Bankruptcy Court to proceed with the transaction.

Headquartered in New York City, L3 Technologies employs approximately 38,000 people worldwide and is a leading provider of a broad range of communication and electronic systems and products used on military, homeland security and commercial platforms. L3 is also a prime contractor in aerospace systems, security and detection systems, and pilot training. The Company reported 2015 sales of $10.5 billion.

http://www.businesswire.com/news/home/20170105006376/en/L3-Completes-Acquisition-Implant-Sciences

If it is proven they broke the law then yes I suspect shareholders will be able to benefit. I am still holding my shares as I would prefer the tax loss this year with Trump's ideas of tax reform. I am praying the loss is not as big as it would be at today's price.

E: the case against PP continues but unless there is proof that wrongdoing took place when ISC signed those loans, how do shareholders of ISC benefit?

Hard to buy what you are selling. A lot of people here are out real money, playing with emotions is not cool.

And you know this how? What is the proof?

What a difference a year makes. December 2015 ISC made its first delivery against the $162 mil IDQ with TSA, Dec 2016 BK and praying for a miracle in 2017.

Be safe this weekend.

PLEASE TAKE FURTHER NOTICE THAT A HEARING ON THE MOTIONS WILL BE HELD ON JANUARY 20, 2017 AT 10:00 A.M. (PREVAILING EASTERN TIME) BEFORE THE HONORABLE BRENDAN L. SHANNON, AT THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE, 824 MARKET STREET, 6th FLOOR, COURTROOM 1, WILMINGTON, DELAWARE 19801.

http://www.kccllc.net/imxacquisition/document/1612238161228000000000005

January 20th will be a busy day.