Secure Point Technologies Inc (fka IMSCQ)

[buffalop51]

"..platinum partners sacks in a federal vise with the FBI tightening clamp. Imsc owes this criminal venture only what it borrowed at best. "

That's exactly what they will get. No conversions, no cic payouts, no gravy.

With that being said? How many companies file Ch11 with a buyer simultaneously buying the company? It's usually a struggle to sell assets for pennies not $117M. For those saying you will get nothing? McGann and Liscouski have known for a few months this was the likely outcome....why do you think Zapata and the deal was structured the way it is? Why have a conference call?

Some saying the debt is larger than 117M that's why 'you get nothing'. WRONG!

The company had no operating capital. If you can't make payroll, the business needs protection. Implant had value to L3, they paid 117M for it. The debt is around 82M, 35M left over.