Secure Point Technologies Inc (fka IMSCQ)

[int10a]

Platinum says the case law is in their favor that IMSC got $1 off the loan balance for every $1 of debt they converted to equity and claim it to be a fair trade, and that any profit they made selling the stock above the conversion price does not matter. So they claim to have the law on their side that profits made on selling the stock above the conversion price do not need to be applied to the loan balance as long as IMSC got the value of the debt converted taken off the loan.