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Buff, you may be right, but still there's no reason for them to treat shareholders like h.s. A 15 cc with that fatal statement from Bill regarding those 0.08 converts and the interest payments in cash, was a low punch for all those longs that held this sand of bag for many years. I am buying because I believe that sooner or later this is going to get bought by someone at a reasonable price. I may be wrong and this may go all the way to BK. That buyout price, of course, is proportional to the sp, and look where we are now??? The BOD own no shares, they do not promote the stock, they do not communicate at all with shareholders, and contrary to what your believes are, I believe they like DM. That I think is the main reason they are on the job and Bolduc is gone... Time will tell, they know next cc is all or nothing. We shall see.
I just bought 2100 shares at 0.469. I may do the same tomorrow. If we are going to die, let's die with honor.
Buff, you may be the only one buying. Maybe you will make millions here. I am not selling, but I am certainly not risking another penny. I am not sure if these two arrogants are running the company or are ruining it. Very sad
Running and ruining the company! 47 cents! Where the heck are Bill and Bob? Bastards!
Thanks for sharing. Given the absolute lack of communication between the company and the shareholders, posts like yours are very useful. Seems like TSA is the only one delaying the freaking deployment. Bunch of burocrats.
Sad to watch so many longs selling their positions. I know B9 has been one of the bigger supporters of the stock here. This is what an irresponsible and arrogant BOD has done to longs. At least you guys were able to leave without considerable loses. I am sunk to the the neck (Over 50% in red with a almost 36k shares owned) Bill and Bo are running and ruining the company. They have managed to cut the Marke Cap in half in a period when the company was suppose to be growing and reaching healthier financial status. Only God knows when these two are going to react and do something meaningful about this bloody mess.
Going into a 3rd week without a PR. Have Bob and Bill being informed that we are trading at .51cents?
DM can convert, but they will bring the price to 0.08 in the process, leaving millions of dollars on the table. There's no liquidity at all here. Shorts won't short this further knowing that a buyout or any other big positive may BK them. Longs won't jump knowing massive dilution is inevitable if MG goes ahead and spends all our money in the lab, instead of paying those 0.08 converts. We were f.u big time by both, BOD and DM.
We thought this had bottomed when the stock spent months trading in a channel between the mid 60s and the low 80s, and now we are at 0.52. I would love you to invest a million dollars here, it will certainly help, we have traded the grand total of 100 shares today. Ain't that nice?
Deadly bombings in Turkey. A home made bomb in a California golf course. We need tha handheld out asap. I would sell it to Putin, Kim or Assad if those bastards want it. Who gives a s... anymore.
They need to find a decent lender asap or sell this crap before Smith and Morpho shows up with some cool stuff, or stupid TSA decides to delay again the deployment. BL and MG deserve the award to Worst Managment Team of the year. These two are making look Bolduc like a real genius. The good thing about Sat and Sun is that we don't lose money.
We got to ask ourselves: if 40mill in annual revenue won't be enough to pay down 4mill dollars, then what would take for this company to kill that crap of 0.08cents converts?
My take, the only reason holding DM from pulling the plug the are those 0.08cents converts, but as soon as we pay them they will disconnect us and sold this in parts. But then you got to ask, if that's the scenario the BOD is facing, then why the BOD haven't push really hard to find a new lender? Well, maybe they did it, but the numbers just make no sense for a decent lender to take the risk. That's my biggest fear, that in order to get the order from TSA, IMSC was forced by Morpho to give away the freaking units. One way or the other BL shouldn't have said what he said. The bastard erased 40% of the Market Cap with his words.
MG acted as a total incompetent when he said that crap during the cc! If he is too weak to fight DM, if he doesn't know where the local bank is , if he does not want to pay in cash what is supposed to be paid in cash, then at least he should be smart enough to not say it out loud! Many people lost a lot of money because they way he handled this. Another red week, a year and two months rolling down the hill!!! I can't f... believe it!
I totally agree. I don't think that BL, MG or any other person at IMSC have seriously looked for a better lender. DM is probably recording their calls and secretly chasing their cars. In any case they are making 300k a year and DM promises to keep it that way as long as they keep those 0.08 converts in place. I don't know if it's legal or not, all I know is that it is f.u. As I said, the last 15' cc was a wake up call. Hoping here for a buyout.
I kind of agree, but that still doesn't change the fact that ongoing dilution (massive dilution) is and will be a stock price killer. Unless this lazy and arrogant BOD decides to fight hard for a better loan, or pay out out those converts, this is going nowhere my friend. Dead money. The last cc was a brutal wake up call!
Ted, you are omitting the most important factor: dilution!!!! If there's no plans to stop dilution when they could make 40mill in revenues, how do you aspire the bleeding to stop? How much money do this company needs before they go ahead and pay that crap? How do you convince people to invest here if your freaking CEO is openly declaring that every quarter he will allow DM to pour millions of shares into the market? Forget about being the number one, I rather be number 3 and do not have to deal with millions of 0.08cents converts. Our debt is higher than our market cap and this guy is happily announcing more dilution. He needs to go back to the lab and never come back to the CEO's office. None of us waited this long to hear that kind of crap from MG. I don't sell my shares because a decent buyout could bring back part of the money I have lost. Good luck, if that's possible.
As of today the world leader in ETD is worth 0.538 and falling due to endless dilution, increasing debt, delay after delay in TSA delivery, and of course, managment horrific approach to shareholders.
Ted, I don't want you to sell your shares, the same way I haven't sold mines. But there is no reason for these guys not to address the 0.08 converts issue in a stronger way. I understand that since they don't own a freaking share they feel very comfortable saying that they plan to dilute the hell out of the shareholders, even when they may have the cash to pay for it. We didn't come this far to listen to that kind of crap. I hope you are right in your assessment of the future, but obviously you are ignoring the power of the competition. Look at Morpho, the bastards already outsold us in Europe and they were supposed to have the worst of the worst technology. Imagine what would happen if also Smith comes out with a better product and a more aggressive approach. Besides, look at our SP, why should the govt buy sensitive equipment for national security from a penny stock company that is trading around 50cents and is at the mercy of a shark financier. If there's similar equipment out there sold by a company in better finnancial shape, wouldn't you go with the competition. IMHO IMSC has done a great job getting this far, but that's it, this is no the online game industry, the company needs to be sold before is too late for all of us.
"Are you at a place now or will you be shortly where you will be paying interest with cash generated from your operations that [indiscernible] [interest basis, no more] [ph] shares?...
And do you have, whether you can share it or not, do you have in your head something where you’re targeting where at least that stops or is that further than your visible?"
Obviously the caller was not strictly referring to the past but looking into the future. The infamous answers to his questions triggered the chaos. Endless dilution. Endless converts. I mean if they can't pay 5millions when making 40million a year, what wourd take for them to get rid of that open hose? Maybe the lied to shareholders when they said that they weren't planning to use those extra 50mill shares approved.
T-R1, these are a few things they could do: Effectively promote the stock in order to increase liquidity so next time DM vomits we don't cut our Market Cap by another 40%. Members of the BOD could also reach their fat pockets and buy shares in the open market. Maybe once they have seen how their money vaporize, they would back from those fatal stataments and assure shareholders that they will use part of those 40 millions to get rid of those 0.08 converts. Last but no less, I would love them to take a walk to a local bank and ask for a 50 million loan. I don't believe they are looking for any financing.
T-R1 I guess your idea is to have a seat and watch the sp to erode even further?
No Zeynoc, I guess I have the facts straight. Please, read:
"So we are devoting our cash right now to continuing to fund the R&D ...I don’t mean to sound like - we ask ourselves the question all the time as a team balancing the coverage of our debt with the coverage of our growth. And right now, we see the coverage of our growth as being primarily important. We’re just starting right."
They are not planning to pay a penny of the accrued interest with those 40 some million dollars in guidance they offered. Maybe they changed their mind after the SP catastrophe, but I doubt it.
You have a very good point hopper. We use to think that DM was the only evil here. But when we heard MG saying he won't pay a penny of the accrued interest using those 40 millions in revenue, because he wanted to use all the money in his lab, suddenly a new a picture arouse: a picture where the managment will do zero effort to avoid ongoing dilution, a picture where the shareholder is a roll of toilet paper, a picture where managment is as evil as DM. That statement, more than any other, tanked the stock. Great manor science, awful CEO.
They know Nov cc may be their final chance to lift this. Another 15' cc with the same old bs of: "we can't find a new lender", "we can't get rid of those 0.08 converts", "TSA is still thinking about it" and this goes straight to 0.08. Shareholders ran out of patience with these two arrogant human beings, that may be the managers, but certainly are not the owners (they make over 300k a year and have millions in bank accounts, but they do not own a single share of IMSC). The time to come out with the same old bs has come to an abrupt end. You can fool everybody, but you can't fool everybody all the freaking time, sooner or later people get to know your tactics. Now, please, come out tomorrow with a decent PR that gets this thing moving north. Stop being a waste and for a day of your lives do something for the shareholders of this company.
Salaries of six figures plus fat bonuses plus millions in options for doing what? for ruining the stock and cut the market cap by 50%? These two really don't give a crap about sp or the shareholders. As long as they keep those 0.08 in place DM will continue to keep a credit line, and they will be able to make 300k a year without much effort. Disgraceful attitude for two men that came with a promise. The only way out of this graveyard is by a decent buyout. DM won't allow a refi, these two are too afraid and live too comfortable to do a thing about it.
Too many traders and just a few longs, that's the result of such a disastrous managment. If someone is not in deep red at these levels, excuse me, but that person hasn't been here for too long or is just a trader that call himself a "long". We are trading in the low 50s, did you buy all your shares at 40s? Please! No one is asking for people to give up, we are asking for the managment to do the f right thing. It doesn't matter how many sales they make as long as those millions of millions of converts are 0.08 are in place. But you know, BL and MG have no plans to get rid of those. Acting like slaves of DM.
Scooter, that we thought when we bought at 1.00, 90, 0.80, 0.70, 0.60, 0.50 what makes you think that 0.40 will be different? As long as those 0.08 converts are there, anything you buy will be diluted. The picture has become so clear and so terrifying at the same time, that there is zero buying pressure, if this is not at 0.10 is because shorts are not sure if the company will be bought or not. Unless the Board of Dumies find a way to refinance this, next round of dilution this goes to the 20-30s. This week gave us evidence that neither DM nor the BOD gives a rat's ass about the SP or shareholders. Pray.
Under a dollar is like a bomb vest, under 50cents with the endless threat of dilution coming from those 0.08 cents converts, you basically are a walking dead. Unless the Board of Destroyers decides to pay down the accrued interest in cash, the SP has no place to go but down, because no reasonable person will hold a position in a stock that will be massively diluted every quarter. If we all have held our positions here was in the hope that the company would be able to eliminate those converts. But the arrogant members of the BOD (btw , people that do not own a single share) had different plans, that they communicated us during the infamous 15' cc. Have you heard from them this week?
At one point you start to believe that a lower stock price is what the Board of Destroyers is looking for. Helloooo people!!! We are back to the 40s!!!! God!
the whole situation reminds of that sequence of Gravity" when Sandra Bullock is returning back to earth and the entire Chinese spaceship is falling apart and burning while entering the atmosphere. At least she made it, would we?
The cc was stupidly short, but at the same time 3 things were very freaking clear:
1- the BOD won't pay the accrued interest with cash.
2-the BOD isn't actively looking to refinance.
3-the BOD doesn't give a s about shareholders.
Points #1 and #2 promised continuos dilution (0.08cents forever) and a permanent inability to generate positive earnings. #3 made absolutely clear that we won't be heard.
Kidney, I don't think this is the bottom. We were basing for months at a range between 65-85. That looked a lot like a bottom. This looks to me like the Niagara Falls. Unless they show up with some espectacular news, this is not the bottom.There is Zero buying pressure and no technical support. A small punch in the ribs and the sp will hit the ground. Managment has done absolutely nothing to stop the bleeding. They screwed every single one of us. I guessed they will come out strongly to prevent this for falling further, but I was wrong.
Their arrogance, their lack of transparency, their fear of DM, and their endless selfishness have turned the stock into a graveyard for shareholders. I write the Company two emails a day, expressing how much I "love" them.
They won't answer. More than likely your email will be marked as spam. I don't write them with hope to get an answer, my only purpose is to release all this pressure burning inside me. Both men have no skin in the game, do not care about the SP. I won't be surprised if they haven't talked to a single lender. BL was promoted for being the rudest person they could find for the job and a loyalist of King DM. My only hope is a last minute buyout.
You are right. I am not saying I did the right thing. Obviously I didn't. I wonder if there is a single long here that has a positive balance in his position.
Tell me, who thought this would go down the 60s, 50s or the 40s? I added a lot of shares between 65-80 cents range, hoping that was the bottom. I am almost 70% down in my investment dude. I have always advocated for the BOD to communicate effectively, to fight hard for better lending terms, to promote the stoc, to buy shares, to the things that would prevent a stock to fall into the chaos this one fell. Now I don't want them to do a damn thing other than SELL this thing! I am a long and I am screwed BIG Time, ok?
Whatever is left in my account I will use it to buy a ticket to Willmington and set a camp in front of the headquarters. At least they will be in the local news. BL and MG are acting like gangsters. Another round of DM dumping and we may touch hard rock floor. Amazing lack of leadership!
Feel free to believe whatever you want, but stop making assumptions about me because I am making none about you. I am free to express my concerns here. I am offending none, attacking none. I am losing a bunch of money, while the BOD happily watch from the shore. BTW, the PR from Morpho is real, Google it. I find that PR disturbing. Imagine that, the freaking Company with the highest false alarm rate, was able in a just a few months to come out with a new product that is outselling us in Europe. How that happened? I did not see that coming! Did you? 51cents and heading south, freaking sad!
What dream are you talking about? Are you saying that I want Morpho to be successful? Or that I want the stock price to keep falling? Yeah right, because I am not losing 20k here. Please...
Bid set at 47cents ask at 51. Here we go again... The nightmare never ends!