To get out of the toxic financing we first need management and BOD that is truly focused on doing this. In my opinion, and from real life results, this has not been the case for the last few years.
From all appearances, the IMSC management team and BOD have been so influenced by their lender that they have not pursued alternative financing with any real vigor. They have not provided any alternative options (NOT ONE) to shareholders for consideration. They received the toxic financing from PP when they had nothing. It is beyond reason to think they could not get some form of improved financing (not the best, but improved) now that they have a product on the QPL, an IDIQ with the TSA, Actual orders from the TSA, actual shipments to the TSA, Qualifications and orders from other countries around the globe, the largest market share in North America, and technology that has been voted the best in the industry for years running. And, worth mentioning, intellectual property for an updated hand-held and the next evolution in trace detection. These are things they didn't even have when they got the toxic financing. Are we to believe they could not secure something improved with all these milestones achieved?
The short answer is, it's very likely they can get improved financing. And, in my view, this is what is in the best interest of shareholders. So, the question remains, is IMSC management and their BOD focused on what's best for shareholders or do they have alternative objectives focused on what's best for specific individuals within IMSC and their lender?
