Replies to post #27997 on Secure Point Technologies Inc (fka IMSCQ)

[zeynoc]

Even at refi, it is their accrued benefit to get the worth of those converts. They also know that when the company starts paying down the interest, there will be no new shares issues for them but they will own whatever they accrued regardless of sale or refi. The value of their converts decrease in tens of millions by making 500k in 2 days last week, right? Makes a lot of sense. Come to the boards that you don't own anything and try to spread your BS under your several aliases. Go deal with your astc, which can not make a million in revenues in a quarter. Let's see what they are gonna do after they burn health cash that they got by selling the revenue generator in the asset. Or try to sell some of your shares there into the liquidity!

[buffalop51]

In addition, the dumbest thing bolduc agreed to was the clause to give Dmrj 2 months notice of a payout of their loans to dmrj.

Is that even legal? How can one legally tell a debtor 'we do not accept the repayment of our loan in full because you didn't tell us 2 months ago? It's like a bank mortgage for your house and the bank saying 'if you plan on selling your house before the full 30 year term, you have to give us 6 months notice of such sale at which time we reserve the right to raise your interest rate to 850% for the remaining term.

The mafia loan Sharks don't even pull that BS. That's how outrageous this is and illegal.

[tedpeele]

I don't undertstand your answer mas:

You wrote:

<<At the current 56c every dollar of this debt pays back one dollar of principal and six dollars of profit which is coming out of retail shareholder hide.>>

If the price was at 80c then every dollar of this debt pays back one dollar of principal and NINE dollars of profit which is coming out of retail shareholder hide, right? THAT was my point: ANYTHING that raises the share price is GOOD for DMRJ, which includes discussion of a refinancing. Of course they don't want the gravy train to end, but wishing doesn't make it so--that's why it makes little sense to me that they would have some kind of requirement for management to not talk about refinancing with shareholders--it helps the price which helps put extra millions in DMRJ's pocket. That's why the concept doesn't make sense to me -- it seems incredibly childish and even counterproductive(ie stupid) to want IMSC to pretend in front of retail shareholders that they have little intention of cleaning up their house. Again, I don't recall what GB said re the refinancing but I'm having a hard time seeing any justification for him getting fired over it.

AM I doing something wrong with the math here?


I didn't understand what you meant by your first sentence though:

<<Because their $4-5m of 8c convertible debt & interest only gets re-paid at $4-5m rather than at a pps/8c multiple when sold on the open market.>> They still sell it at market. It's the cost basis that is at .08, no?