Secure Point Technologies Inc (fka IMSCQ)

[T-R1]

$1B? LOL
Let's look at it this way... IDIQ is a $ number simply set aside. Gov. doesn't have to spend it all... that's why it's called IDIQ. So using IDIQ number to calculate a possible buyout price is not wise. No buyer would assume that they'll get it all. It's simply not how you spend millions of $ (by using best case scenarios).

A more reliable number can be derived from here Final_5_Year_Technology_Investment_Plan.pdf

You can clearly see how much money TSA allocated all the way into fiscal year 2020. Do the math yourself. 360 units is about $12mil. Profit? Let's say $7mil. This is the number given by TSA.

Let's say they also sell to CATSA and EU and let's add another $20mil profit. Heck, add more if you want.

Now, why in the world would someone buy IMSC for.... I don't know.... $400 million? Just to MAYBE break even 14 years from now? This business is very cyclical so once those systems are in place and market is saturated, there's gonna be drought just like there was drought with EDS purchases (still kinda is). And then what? So MAYBE they break even and then no sales for a period of time?

So what's left? Some sort of "new segment" product with "Barrier To Entry" that doesn't exist yet. This certainly could add value but it's an even riskier bet because the buyer will now have to spend $ to finish development, productize it, certify it, etc... You all know how much Implant spent on this.

This is why I stick to my x2 sales.