Replies to post #19096 on Secure Point Technologies Inc (fka IMSCQ)

[kidneybeans]

TSA already has chosen implant sciences...would not be too worried about the technology...morpho and smith is done in the etd realm...would like to see another American company acquire implant and integrate it's technology into eds and really give the competition something to deal with

[Buzzlityr]

I dispute your points that the company is not well run. If you review their history you will find the ceo had no options when dmrj offered one. He took it. Then set about to build a product platform that birthed a product good enough to lead the category and thus gain vital and necessary government certifications of product(s). He succeeded.

Today IMSC is left with the capital structure ( "baggage") of dmrj's "save" but they also have an extensible platform that will dominate trace detection for at least a decade. I would not dismiss this fact as it brings many inquiries from an assortment of parties.

I do agree that the issue of capital structure must be addressed and overcome in order to have the company reset to begin again within a new capital structure.

One aspect that attracted me to this stock was the ceo speaking about industry interest which was actually industry doubt. A high level discussion would go like this: we are interested in your product when you achieve tsa certification. Good luck in doing so. Then a phone conversation takes place where that discussion is: we received tsa certification. The silence on the other end of the phone could be imagined as deafening. I never thought you would turns into put me on the expression of interest list.

Nobody thought IMSC would achieve tsa certification. Further to that point, two tsa cradas and one large tsa idiq and one neat sized product development grant.

If IMSC had 125M shares but no debt and the above listed agreements in place, what do you think the stock would do? My feeling is, even with nearly 80% more shares, the stock would easily double from its 50 day average. Now, if you agree with that, and if you are a lender you might make a loan package available at a fair rate that might include a warrant opportunity ( bonus) in lieu of a convertible. I know I would do so readily.

Best of Better Luck to ALL IMSC LONGS!

[buffalop51]

"Talk of buyouts are just fantasy long-shots as the company is just too expensive with its diluted capital structure and has too much debt."

I disagree with this somewhat in that industry players know the cost to develope and run the TSA guantlet. It's not cheap. It's like a drug for FDA, it's COSTLY to get approval. Debt, that's all part of the sale. They have a 162M contract and 45M order, that's more or less in the bag. They do own IP that has value and future sales. We have NO idea how this company stacks up with a potential buyers structure and goals. There could be no one 'licking their chops' at the thought of purchasing IMSC, or their could be a few. There is no way to the know that.

"For an ex-accountant Buldoc has done a very poor job of ensuring shareholder value is not lost through excessive debt and dilution."

Agreed. Bolduc knows many words. Shareholder value is not one of them. Some would say....."IMSC would not even have existed today if weren't for DMRJ"

Right now, IMSC having gone under 5 years ago would have been a far better outcome for many after 3 years at this level. Bet ya dollars to donuts 50% of retail wished they never heard of this company.

Moral counts. It's in the dumps IMO. Bolduc would rather dismiss your concern over shareholder value as a "petty and irritating question in which he feels he owes no explaination to a shareholder".