Optex Systems Holdings Inc. (OPXS)

[littlefish]

I think you're getting things jumbled. Longview and Alpha were both creditors of IRSN I think going back and there was debt involved:

"On October 14, 2008, in a purchase transaction that was consummated via public auction, Optex Delaware exchanged $15 million of IRSN debt owned by it and assumed approximately $3.8 million of certain Optex Texas liabilities for substantially all of the assets of Optex Texas. The $15 million of IRSN debt was contributed by Longview Fund and Alpha to Optex Delaware in exchange for a $6 million note payable from Optex Delaware and a $9 million equity interest in Optex Delaware. There is no contingent consideration associated with the purchase. Longview and Alpha, which were secured creditors of IRSN, owned Optex Delaware until February 20, 2009, when Longview sold 100% of its equity interests in Optex Delaware to Sileas Corp, as discussed in the following paragraph.

Among other assets, Optex Delaware purchased the following categories of assets from Optex Texas: intellectual property, production processes and know how, and outstanding contracts and customer relationships. Optex Delaware’s management intends to improve the business’s ability to serve its existing customers and to attract new customers through quality product and service that will be enabled by improved working capital availability as compared to the working capital available during the time period in which the assets were owned by IRSN."

As you can see, Alpha was involved back in the struggling IRSN days before the 2009 incorporation (as was Longview although Silas picked up the Longview portion not long after). There was a $6 mill note and $9 mill of equity interest involved in the auction. I think 70% of Optex was bought for $14 mill cash in 2006 by IRSN?

Anyhow, I'm still not sure where your fog is coming from. We're now going back to 2008... and the latest annual was pretty explicit about Alpha's position currently and how much potential common they can get to if they exercise their final series C.

Good luck, all IMO only.

All IMO only.