Secure Point Technologies Inc (fka IMSCQ)

[RISK-TAKER]

AND another P.R. on Financial agreement....

On December 31, 2009, Implant Sciences Corporation (the "Company") received written notice from DMRJ Group LLC ("DMRJ"), withdrawing its December 20, 2009 default notice with respect to the Company's failure to repay an aggregate of $7,505,678 in principal, together with approximately $149,292 of interest, upon the maturity of certain promissory notes due on December 10, 2009.

DMRJ has not waived the Company's defaults and has reserved all of its rights under such promissory notes and the related loan and security agreements. However, DMRJ also stated that it is willing to enter into discussions and negotiations with the Company regarding a potential restructuring of the loans and the related agreements.

Also on December 31, 2009, DMRJ elected to convert $120,000 of the principal amount owed by the Company under one of the promissory notes into 1,500,000 shares of the Company's common stock, at an adjusted conversion price of $.08 per share. DMRJ has indicated that it may convert additional portions of the Company's indebtedness on similar terms. Under the promissory notes and related agreements, however, DMRJ may not convert any portion of the notes if the number of shares of common stock to be issued pursuant to such conversion, when aggregated with all other shares of common stock owned by DMRJ at such time, would result in DMRJ beneficially owning in excess of 4.99% of the then issued and outstanding shares of common stock. DMRJ may waive such limitation by providing the Company with 61 days' prior written notice.

The Company is currently in discussions with DMRJ with respect to these defaults. No assurance can be given that the Company will be able to restructure its loans, or enter into any other arrangement acceptable to DMRJ.

so in short they done sold 1.5 million shares for .08
yet still hold 2 more promisary notes...i bet they work a NEW BETTER agreement out....
good/luck...holding long ...4 now