Well, I'm not really due any respect, because like others I am just speculating as to possibilities. After all, if I knew anything other than publicly available information, I'd be legally prohibited from posting on a public message board.
As for my nonsensical paragraph, what I was attempting to convey was that a DMRJ dump of their shares is a legal possibility. An unknown, or wildcard.
You write: "they own the majority of this company, would you run a sell side process and invite all the major strategic investors for a buyout or would you try to dump your 60-70mm shares in the market for pennies."
Where do I start?
-DMRJ doesn't own much of Implant, certainly less than 4.9%. To own more than that amount would require the filing of a Schedule 13D which is not, as some suggest, merely a reporting requirement. It would subject them to liability under Section 16 of the Securities Act, which prohibits any purchase and sale of a security by a control person within 6 months of each other. In other words, their ability to convert debt into stock (the "purchase") and then sell it on the market (the "sale") would be subject to a 6 month holding period.
-DMRJ isn't going to talk to any "strategic investors" about a buyout. From a legal liability perspective, they are going to avoid all actions which would tend to imply that the exert any control over IMSC. And, quite frankly, I think Mr. Bolduc would have a thing or two to say about DMRJ conducting negotiations with third parties over the strategic direction of the company.
-I have no idea whether DMRJ would dump all 66 million of their convertible shares prior to a refinancing.Neither does anyone else here. I have acknowledged that they would tarnish their reputation by doing so, but vulture funds market to the desperate and the damned, i.e., those without any other alternatives save bankruptcy, so how much harm would really be done? We all have are own ways of evaluating an investment, but for me, denying that such a sale is a possibility is illogical.
AI
