Buffalo- ah, but dmrj does require notification for pay off of loan(s), which allows them to convert the loan prior to the pay off date. DMRJ also has a clause that allows them to match other investments into IMSC. So yes, they would "accept", balance due, however, they can smell money upto 250 miles away...so they will move to make the most out of their certain loans that appears to give them the most back.
I don't envy Dr.McGann as this hot seat is unlike any other;
-TSA is a secret keeping orgainization, so walking that line will be easy for him
- The finance side is much more problematic, BAM holds rights to the IP, DMRJ owns the company 1.5 times over so that could be an intense "discussion". Sure, they have a side agreement as Doc Detroit pointed out.
- Morpho protest makes every event more pressured and possibly expensive
From a pure political perspective, something explosive had to have happened with the BOD. Most of the BOD was rec'd to IMSC by DMRJ except for BAM which was a friend of CEO Bolduc.While the BOD had great security credentials, the only BOD members with finance skills were Hassett and Bolduc.
Ceo Bolduc took us to Jan.16, now Dr. McGann needs to work quickly to keep the ball in the air. He has plenty of arrows in the quill to do that but not plenty of time.
Also, I don't sense a need to sell the company coming from Dr. McGann, matter of fact, the possibility of strategic buy in grew by leaps and bounds. Consider, if you were a NE based EDS maker, now is your opportunity to invest in, then move closer to help develop the IMSC product portfolio in order to breed those products with yours to capture more of TSA's upcoming round of business that is a few years out.
Also, Drs.McGann and Jones have a 1 million share bonus for bringing in "new investment". Not sure how that jives with Dr.McGann's new role as CEO vs COO but I sense that is where the BOD is looking right now.
Best of Luck To ALL IMSC LONGS!
