I dispute your points that the company is not well run. If you review their history you will find the ceo had no options when dmrj offered one. He took it. Then set about to build a product platform that birthed a product good enough to lead the category and thus gain vital and necessary government certifications of product(s). He succeeded.
Today IMSC is left with the capital structure ( "baggage") of dmrj's "save" but they also have an extensible platform that will dominate trace detection for at least a decade. I would not dismiss this fact as it brings many inquiries from an assortment of parties.
I do agree that the issue of capital structure must be addressed and overcome in order to have the company reset to begin again within a new capital structure.
One aspect that attracted me to this stock was the ceo speaking about industry interest which was actually industry doubt. A high level discussion would go like this: we are interested in your product when you achieve tsa certification. Good luck in doing so. Then a phone conversation takes place where that discussion is: we received tsa certification. The silence on the other end of the phone could be imagined as deafening. I never thought you would turns into put me on the expression of interest list.
Nobody thought IMSC would achieve tsa certification. Further to that point, two tsa cradas and one large tsa idiq and one neat sized product development grant.
If IMSC had 125M shares but no debt and the above listed agreements in place, what do you think the stock would do? My feeling is, even with nearly 80% more shares, the stock would easily double from its 50 day average. Now, if you agree with that, and if you are a lender you might make a loan package available at a fair rate that might include a warrant opportunity ( bonus) in lieu of a convertible. I know I would do so readily.
Best of Better Luck to ALL IMSC LONGS!
