Secure Point Technologies Inc (fka IMSCQ)

[mas]

However it is in the BOD's interest for the pps to rise past 1.40 as otherwise their options are worthless. Perhaps they are thinking once full quarters are announced that have a semblance of profitability that high trading volume will do this. I am not so sure as DMRJ have shown in the past that they will cap any rise under 1.40 so that only their options are in the money. Eventually the management will realize that there is no way for their options to become profitable with DMRJ still in the picture and do the necessary refinance but I don't expect this to happen until next year as hope springs eternal with these guys.

However even with a refinance there will still be new discount options from the new creditor but there should be less of them if the price is well over 1. I also don't know why they don't just do a giant secondary inviting current shareholders to also take part. The management here have to get less cozy with DMRJ and just treat them as an external creditor who can be replaced with others if the deal is right but they have got used to the current arrangement where DMRJ provide them with endless credit and DMRJ then get that money back from retail shareholders. After all DMRJ did this company no favors when they forced them to reprice their still well in the money 26c options into 8c ones.

I get how McGann would be too busy running the company to investigate potential re-fi's but what is Liscouski and the CFO's excuse ? This is primarily the most important work they have to do in the future not just cheerlead and read prepared accounting statements at CCs because seriously 8c options have no business still being around when the pps is ten times higher. There must be hundreds of lenders who would queue up to undercut that ridiculous DMRJ 10x profit especially as now the company has a business future.