"Talk of buyouts are just fantasy long-shots as the company is just too expensive with its diluted capital structure and has too much debt."
I disagree with this somewhat in that industry players know the cost to develope and run the TSA guantlet. It's not cheap. It's like a drug for FDA, it's COSTLY to get approval. Debt, that's all part of the sale. They have a 162M contract and 45M order, that's more or less in the bag. They do own IP that has value and future sales. We have NO idea how this company stacks up with a potential buyers structure and goals. There could be no one 'licking their chops' at the thought of purchasing IMSC, or their could be a few. There is no way to the know that.
"For an ex-accountant Buldoc has done a very poor job of ensuring shareholder value is not lost through excessive debt and dilution."
Agreed. Bolduc knows many words. Shareholder value is not one of them. Some would say....."IMSC would not even have existed today if weren't for DMRJ"
Right now, IMSC having gone under 5 years ago would have been a far better outcome for many after 3 years at this level. Bet ya dollars to donuts 50% of retail wished they never heard of this company.
Moral counts. It's in the dumps IMO. Bolduc would rather dismiss your concern over shareholder value as a "petty and irritating question in which he feels he owes no explaination to a shareholder".
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