Hello Nick just to be clear, there was NO open market for passenger when IMSC entered the cargo market certification process. Tsa had displayed expiration dates for passenger certified etds and open idiqs for the makers of those etds. Just to be extra clear, the current 2 etd's used by tsa have not expired (certification) but the backing idiqs to purchase replacement model etds has expired.
Conversely, cargo did have 4 etd units expiring earlier than passenger. Tsa then changed to retire only 2. So IMSC was the victim of those changes, in hindsight.
Not sure how up you are on IMSC and dmrj, but the lending has been ongoing. The company made agreements, received the benefits ($) and has continued to operate, advance and benefit from those lending agreements.
I think its fair to say that the market is saying: resolve your financial structure and we are will buy your stock. Keep the ongoing convert in place and we won't buy your stock.
Early buyers are now stymied by the situation as appreciation in snyc with positive developments has stopped yielding increases in the share price.
I am more than hopeful that this will change because I believe market forces want that change and quickly as its apparent to one and all, cap structure is the biggest ( only?) impediment to rapid growth at IMSC. I hope this helps.
Best of Luck to ALL IMSC LONGS!
