Secure Point Technologies Inc (fka IMSCQ)

[int10a]

The court docs show they were trying to arrange DIP financing in May for Chapter 11. So McGann knew then the outcome was going to be Chapter 11. Maybe he meant the acquiring company would be able to be profitable and unencumbered by debt. Otherwise everything he said is obviously not true and he had to have known that. The technology roadmap had to apply to ETD and that was going to be sold.

So the following can only be true about it being profitable after being sold to an acquiring company:

"we are committed to finding a path for this company to grow profitably and unencumbered in the future, because we have a great strategy, we have a great technology roadmap and I think we have a proven theme that can execute that mission."