Joe- disagree- the market always pauses to assess when it sees: PROTEST FILED, 3 LEGAL WARNINGS IN THE STOCKS FILE and of course- CAP STRUCTURE = DILUTION ENGINE.
What the market does not assess are the obvious outcomes: PROTEST FAILS, LEGAL WARNINGS HAVE GONE NOWHERE and DILUTION WILL END WITH A RE-FINANCE all of which allow the company to collect progress payments for development of NON-CONTACT ETD, HANDHELD NON-CONTACT ETD, CONVEYOR FED LARGE PACKAGE NON-CONTACT ETD.
The gist- swabbing is so dead, except in places like China which is oddly studying TSA's swabb based concept of operations.
Once I came face to face with a non-contact hand held, which at the time was on the TSA's QPL, I asked the officer what was his procedure for using it for interrogation. He smiled and then told me to raise my arms and then did what amounted to a lite version of a voodoo ritual. Those products are NO longer on the TSA's QPL. The outcome: once the TSA receives a product that does not need a swabb, those old swabb-jobs are heading for the dumpster. What is funny, the new S-M ETDs which do not contain nuclear material, should be still in the testing channel making S-M the edsel of ETD and ushering their exit from the ETD space.
All of this courtesy of Drs. Jones and McGann. These guys are very sharp, they know the product-scape better than S-M know their own products, they have TSA's full confidence ( did S-M get a $2M development contract from TSA- heck no, did S-M get a $161,000,000 IDIQ from TSA- heck no, Did S-M enter into a CRADA with TSA for ETD product development- heck never!)
So Smith and Jones are just wandering around looking for the closest tar pit while IMSC is speaking w/ bankers and strategic investors( guesses) ...while the market pauses and waits for news.
Obviously the stock has acted like the IDIQ was smoke...brought on by longs taking profits, strat. shorting, tag along shorting and ongoing dilutive selling. Heck, DMRJ might even short the stock on good news as the entire world knows they are good for it. NOTE- I did NOT say they are, just one of many ugly possibilities that must be discussed.
Resolution is coming! Greatest Luck of all to ALL IMSC LONGS!
