9horse ( love that name) my guesses as to who would be most appropriate buyer of IMSC addresses two very crucial aspects: an ait builder with proximity to current IMSC R/D lab as I suspect they would want to continue to build QS-B-220s at current IMSC facility but port the R/D dept to their own backroom. But proximity would NOT stop a Rapiscan from moving on IMSC if they felt they could easily integrate IMSC's conveyor/non contact etd platform.
More importantly would be the price negotiation. Since dmrj has de facto control they might be overly motivated to take any price that is say, twice IMSC's high for the year. Nothing says NO WE WON"T ROLL OVER than a renewed line of credit.
Share distribution by dmrj indicates that any dollar "today" is better than waiting for "2" dollars "tomorrow". Mgt. would have to really convince dmrj that significant future value was present in IMSC's IP to prevent dmrj for taking say $3.60 today instead of most value "tomorrow". With that in mind, I see a take out on the ceo's terms ( >500M cap min.)
I know, most longs are so worn down, anything looks better than what has transpired. Dr.McGann can speak to this as he has gone through this before.
If trace detection is going to make it front and center as a full fledged layer in tsa's scheme, it will be developed by IMSC first and that is what drives all value discussions or should drive all value discussions. Once again, Dr. McGann at the table allows for a very informed negotiation from IMSC's side. So here is my guess, we all get what we want, min. $5 if IMSC has a follow on to submit to tsa before end of IMSC's fiscal year. This is certainly just an estimation.
Note to Buffalo- agree that tsa had issues with IMSC's ability to produce product in volume but they decided they could "put capital in" by buying in waves along with grants. Do you not see that? Those questions have been answered for tsa by BAM and now tsa is past them. I also suspect Smiths/Morpho have presented your thoughts to tsa ( perhaps every meeting?) and tsa has said: IMSC's platform for trace detection is so powerful that our security demands it. Once again, Dr.McGann has spoken to "new-evolved" detection specifications that IMSC delivers in its current line of contact mode products. But what about non-contact? Currently there are NO handheld etd products on the tsa's qpl. Think about the gap that deficiency creates? Enter the canines? For a while this is the tsa's version of non-contact ( they actually do contact/non-contact but they can roam, a key hand held specification).
Best of Best Luck Possible to ALL IMSC LONGS!
