Replies to post #39631 on Secure Point Technologies Inc (fka IMSCQ)

[tedpeele]

The price used to be $1090, which divided by $1000 to get $1.09 per share. If it really was changed to $190, that would imply .19 a share. However, the SC 13d shows no change to the number of shares that series H preferreds would convert to, so I doubt the $190 is a concern. I am slightly concerned with the July 20 filing at that same link which shows authorized common going up from 200 to 250 million. Perhaps that is also a correction to the prior filings. Not sure.

I am MORE interested in why the prior removal of the removal of the 4.99% max appears to have been reversed, along with the 60 day requirement removal. IOW it appears the 4.99 max is back in force, along with the 60 day requirement. Not sure if that applies in case of a Major Event though. Would expect the 8k be amended too if that is the case. Maybe that is coming.

Maybe in essence all dealings by PP that went into effect on 4/6 are being recinded..with a new 8k coming?.. doubt it. now THAT would be news.

One thing for sure, McGann is still around since he signed one of the docs on 7/16.

[Nowak488]

All the filing today did was clarify a misstatement of the previous filing.

If they increase the number of covertable shares buy tens of millions worth of shares, they would have to report it in another format.