I see you're still a captive of your conspiracy theory. Let me once again set the record straight, as I understand you are late to the party.
1. Why is the lead scientist, Bill McGann, CEO? McGann has plenty of business experience, not just scientific experience. He's run large operations for GE, as an example, and was COO of Implant before being appointed CEO. It's also not unusual to have science and technical people as CEO. See Bill Gates and many, many others. As to fixing the capital structure, as far as we know, he's still trying. See my response to Buff51 for more details. It ain't easy swimming with sharks. Finally, why would any skilled, self-respecting CEO type WANT the IMSC job after taking one look at the company's condition, the PP loan in particular. McGann is "the father" of ETD. I can half way understand why he took the job. Others? Naaaw.
1a) McGann "opened the door for Platinum to walk in and rape us." How many times do you need to hear that McGann had NOTHING, NADA to do with the Platinum loan? Let me say it again, louder: BILL MCGANN HAD NOTHING TO DO WITH THE PLATINUM LOAN. He joined the company years --YEARS -- after the loan was made. Many years.
2. Why can't McGann explain what is going on? I don't know the answer to that, and I'm as frustrated as you are on that score. Legal reasons? His preference? I haven't a clue, but whatever the reason(s), he presumably will be sharing information on the conference call Thursday.
-- The victory lap? We disposed of that months ago. He was, to use your words, blowing smoke up employees' asses, not ours.
-- Hope a Big Fish swims in and buys IMSC and we get a decent price. I hope so too! And like you, I am not optimistic. Mr. Market values the company at 35 cents a share. Mr. Market has viewed the company as a loser for years, and acted on that perception, taking the value down, inconsistently but eventually, for a couple of years. Even as the news was highly positive. Drip, drip, drip. And Mr. Market is composed of people like you, me, as well as Big Fish companies, who don't have to record their purchases until they reach five percent. Implant's certifications, contracts, patents, etc. are worth 35 cents/share. That is it. Today. Could a Big Fish swoop in and give the company a nice premium, as some on the board hope. Yes. It happens. But the high end premiums I've seen posted on the board are delusional, in my opinion
-- Liscouski telling us about a NEW plan. Who cares who told us about it, McGann or Liscouski. The main point is that ETD is going its own way, and Implant is to become another company apparently. It appears neither one can (or wants) to say too much, probably for legal reasons. They'll have to say something about both on Thursday or there will be a revolt.
-- Your certainty that there is cheaper money available. Look, if you are that certain, you should have called McGann and told him whom to contact. I don't see why he wouldn't take your suggestion if it meant cheaper money. In fact, I think he'd dance on his desktop.
-- McGann in cahoots with Platinum? And/or played by Platinum? What would be the motive? Why would he not want cheaper money? How would he be played? To me, it's quite clear, which I explained in my response to Buff51. McGann has NO LEVERAGE. He was handed a piece of dog shit when he became CEO. Platinum is, as you suggest, a bunch of unyielding, vicious sharks. Dog shit deals are its modus operendi (pardon the spelling). They prey on companies that are basketcases, tie up their intellectual capital as collateral, and then milk them for all they are worth. It's legal. (Their recent legal problems have nothing to do with the Implant loan). Unethical, but legal.
It's my understanding that most of management has most of their options at $1.41. Or that's what I recall. It appears evident that McGann and his team would want to get the per share price of the company to something above that, way above it if possible. I don't understand why they would want otherwise. Please enlighten me if you know.
You are frustrated. I get it. You are not the only one. But presumably you knew the risks of investing in a pink sheet company bleeding money and chained to an enormous loan that grew every month. Why invest? Why stay invested as it dribbled down? Don't blame McGann. Blame yourself.
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