Replies to post #28800 on Secure Point Technologies Inc (fka IMSCQ)

[tedpeele]

Question: If Implant feels they really gotta keep the R&D going, then why don't they simply take out a loan from somebody for a couple of $million to pay off the interest owed to DMRJ to avoid the dilution from converts?

Answer?: They may still fear that if things go south with TSA, they will need to refinance again in March, and that DMRJ may not be willing to refinance if they see that they can convert those .08 shares, but they may not be able to get anybody else to refinance either. That puts the very future of Implant Sciences in jeapardy since DMRJ could declare a default and take over control of the company and sell it to whoever they want, including Morpho.

IOW it's simply a matter of not putting the cart before the horse in order to ensure survival.

Is that the answer? If so, are the answers given in the conf call really all that surprising?

[CMass]

Nice post Ted, but I still consider that 300k dollars Bill got his words all wrong. The way he answered made most people believe that the BOD is not really working in a REFI and is not really thinking about paying interest and accrued interest in cash. They would rather pay themselves over a million dollars in bonuses in 2016 (wait and see) After reading the revised 10-k you get the idea that all these guys are doing is pocketing a shit ton of money for no good f reason. Regardless of all this crap, I still believe these 40s should be taken as a good entry point, unless you think the company is going down the drain.

[b9molecule]

curious why you didn't highlight
I am not sure that’s likely to happen

[b9molecule]

I dont agree with the general premise of your remarks. that is, right now they won't pay down the debt but soon will if they get a windfall. I think its grasping at straws. Its why the stock crashed.

Roger Deschenes - CFO
Well, the decision on whether shares are used or not used isn’t ours to be made, it’s the debt holder. They have the right to convert >

GLTA