Secure Point Technologies Inc (fka IMSCQ)

[Doctor Detroit]

I think the most likely scenario is that they stay the course with DMRJ and BAM, but with the interest rate negotiated lower. They would then go to the stockholders for the approval of increasing their authorized shares from 200 million to 300 or 400 million. Over the course of 2015, try to keep volume at levels allowing DMRJ to continue converting.

Despite carping about a new refinancing earlier, I believe that unless another huge order comes in prior to the refinancing date (3-31), Implant won’t be able to prove to a more conventional lender that they could make the interest payments on debt. It’s not intrinsically good or bad, just a dollars and cents thing.

A buyout seems more attractive to me, but management probably has a much different perspective. I realize $3.00 may be pushing the envelope, but I think most would be satisfied with something in the $2’s. But that is a single for Bolduc and McGann, and I believe they are in this for a strikeout or home run, nothing less.

A strategic partner is a possibility, but if I were such a partner my first priority would be to purchase the Eight Cent Note from DMRJ rather than invest in the company. I’m sure DMRJ would sell the $5.5 note for $50 million to get all their money at once, and in return the strategic partner could convert into 65 million shares immediately.