Home > Boards > US OTC > Delisted > Secure Point Technologies Inc. (fka IMSCQ)
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Alias Born 06/03/2008

Monday, April 27, 2020 7:48:33 PM

Re: None

Post# of 47873
There were 80 million shares outstanding at the end, so if you received 4.3 cents, that means the total shareholder figure was about $3.4 million.

What is funny about that? Well the Four Stooges committee legal expenses ALONE were over $2 million. Which means $5.4 million could have been available to shareholders if it weren't for the "work" of the "esteemed" shareholder committee.

The total legal expensive for all sides (all paid out of the IMSC bank) had to be over $6 million, right? Just think of that for a moment! If no one contested the distribution of funds, and just had the judge approve a split of the remaining cash, without 2 years of legal expenses, the shareholders easily could have recouped more than 10 cents a share! Instead, the sore losing, spurned, IMSC shareholders, led by Carol Severance, caused 2 years to go by and burned millions in legal expenses!

Once again, what could be more fitting of an end for IMSC than that scenario! Shareholders burning up their own cash!

I've been reading some of the old posts here, and have a great time re-reading them. Very entertaining! The legal filing in the BK case, document 840, where Carol Severance complains about me, is still one of my favorite moments ever! A feather in my cap! My reply to her is still on this board https://investorshub.advfn.com/boards/read_msg.aspx?message_id=132547085

I miss this POS!


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