Secure Point Technologies Inc (fka IMSCQ)

[mas]

It's a really tough decision either way. I can understand the dilemma Longs face after finally having got to the promised land of ETD dominance yet the pps is in the toilet. I kind of feared the worst when there was no volume after earnings because if there is no natural volume DMRJ will artificially create volume to get their weekly/monthly money fix.

The only good thing is that TSA orders are still to be booked and they will start turning up Mid-November when the next quarter is reported. If I was a Long after all this time like you guys I would at least wait until then to see how the stock responds on revenue that is much closer to break-even.

After then it is up to you guys to decide how long you can wait for something to turn up like a refinance which is not looking likely but you never know. However if DMRJ now has a controlling interest in reality then that may just never happen. The management again have kicked their retail shareholders by suggesting debt repayment is not important compared to some abstract R&D. This complete indifference to pps reduction is staggering as started by Bolduc and continued by his successors.

If you were feeling optimistic then you could imagine IMSC getting all of the $162m IDIQ eventually giving time i.e. years for dilution to be absorbed but without volume from essentially new buyers the price is just going lower because the existing Longs are tapped out and the voracious DMRJ Dragon is still hungry and feeding. To be honest when I have looked at the debt structure I never could see a price which stood out as a bottom. Maybe temporary bottoms but there is so much latent dilution stored up you would need million+ day trading days for many months to get rid of it all.