Brady- agree that it was not a good thing or a smart thing to say to a shareholder. But the ceo still has a gun held on him, matter of fact two guns. And here's where it gets dicey: come 3-30-15, if BAM is not paid bck with interest, they are entitled to the IP. And they won't take shares unless they get them at dmrj's conversion price. ( whats worse than one dmrj?...)
That is the parting of interests so to speak; BAM wants to be repaid but can literally steal the IP and reconstitute to continue to fill the IDIQ if not paid back. Dmrj wants everything they can squeeze out of this "turnip" but they get left out if BAM walks away with everything. So while dmrj has to be pushed out of the stock for this company to succeed, BAM is the closest threat, in my view.
Its possible for BAM to own the IP, then license it back to IMSC and or "others", but this keeps dmrj working on the stock and I don't think they can remain in the stock and have the company grow/run to its full potential.
So the "leverage" ( can't call it real leverage) is with BAM. Matter of fact, you can easily conceive of a BAM-DOOR plot, if you will, if IMSC does not receive refi relief. You could also work this threat against dmrj because its over and gone for them if IMSC does not get refi relief and BAM walks away with the IP. That's far too dangerous of brink to take this.
Doc's strat to have someone buyout dmrj's 8 cent loan for 50M is a bit over the top because if you have $50M to put in, you likely have $80M and you'd want both BAM and dmrj out for that amount. But that would make them the owner and mgt. is left as employees unless its structured creatively.
Knowing Smith's and Morpho's days in etd are basically over, you have to expect they are lurking and or making a move if they intend on staying in etd. And this is exactly the potential of IMSC, the future of etd which is non-contact at very high resolution with very low false alarm rates. To my mind, IMSC owns that. The tsa has pointed to that and acknowledged that of sorts ( cradas, big idiqs) so now plenty falls on the ceo and the bod to get busy.
And Doc did point to a major convert - sell down if dmrj thinks it's all BAM's to love and cherish. Meanwhile, I see every PR as pumping more dmrj shares into the float just on the toxic convert on the interest. Alot of permutations on "how does this resolve favorably."
Best of Better Luck to ALL IMSC LONGS!
