$550M+ … CEO’S “LAST VICTORY LAP”
As others have noted, what was not said on this conference call speaks volumes.
Moreover, what was said adds to that drum beat loud and clear.
After reviewing a list of major accomplishments proudly achieved against all odds, McGann describes a company finally “ready to take on the growth challenges ahead”. He then segues to briefly mentioning the “strategic alternatives aimed at fixing our capital structure”. He definitively states that they’re “committed to finding a path to grow profitably and unencumbered”, noting that “we are not done with the process at this point in time”, and, as a result, wants (needs) “to be brief today”. [See Quiet Period]
Then, in the most telltale moment of the call, he feels compelled to thank members of management, the board, lenders and shareholders, describing his comments as a “LAST VICTORY LAP”!!!
Lastly, as an apparent post-script to his victorious pronouncement, he ostensibly apologizes for his historic inability to engage in day-to-day communications with investors, addressing shareholders saying “thank you for your support and stay tuned”.
I don’t know what they’ll ultimately get for the company, but anything less than $550M will be a shame, given their robust patent portfolio, their current pipeline, and all future goals that they’re “finally” ready to accomplish. BM is not the best salesman, but I suspect that Dr. Jones and the investment bankers are leading negotiations, with input from DMRJ (they’ve undoubtedly been “over the wall” for some time).
Bill’s value is in envisioning and corroborating new and expanded opportunities. As an example, during the call he described Implant products recently being used in a “more extensive way” in Europe. Although he and Todd Silvestri were somewhat cryptic in their specific description (no reason to tipoff competitors), it sounds like certain European customers have begun “sampling people aggressively” with ETD units, including Brussel’s Zaventem Airport doing so “beyond the landside and airside interface”. McGann explained that IMSC responded to that challenge/opportunity by creating a new “feature” that apparently has them extremely excited about that augmented product (best he’s seen in his 25 years).
THAT ENHANCED PRODUCT IS A NEW “VERY POWERFUL DYNAMIC SYSTEM”, WHICH THEY’VE BEGUN SHOWCASING TO THE TSA. [Acquiring Party Take Note]
ANYONE SHORTING OR DUMPING SHARES AT THIS POINT DOES SO AT THEIR EXTREME PERIL OR LOST OPPORTUNITY … THIS DEAL CAN BE ANNOUNCED AT ANY MOMENT!
AI
