Replies to post #44398 on Secure Point Technologies Inc (fka IMSCQ)

[mr-truthbetold]

I totally disagree. McGann is a bad public speaker and a conceited narcissist... but, he is not stupid. He has built and sold companies before. And, if he took on the title, salary, and bonus of CEO... guess what, he gets the responsibility and accountability that comes along with all the good stuff.

I am holding out a lot of hope that the courts, US Trustee, and equity holders committee don't let anyone slide by due to feigned ignorance. The IMSC management, Board of Directors, and PP all knew exactly what they were doing. And, they knew it was illegal.

Just my opinion based on what I've seen and read over the years...and based on management's unwillingness to be forthcoming with investors about the actual state of the business over the years.

[int10a]

Glenn Bolduc was the finance guy. The question is why did they get rid of the finance guy just around the time they should have been able to get better financing after winning the TSA IDIQ. It was under protest immediately by Morpho but they should have been working on getting better financing contingent on the protest being unsuccessful (which it was). Perhaps Glenn was working on that, it is one theory but maybe not the correct one.

Liscouski just seemed to be a typical high level gov't bureaucrat. He is not a finance guy either. His knowledge seems to be in the areas of security and counterterrorism and he managed various projects when he was with the TSA.

It seems the company got rid of the one finance guy they had other than the CFO, right around the time they should have been able to arrange better financing. One can argue the CFO should have been doing that too, of course.

[Ramp Worm]

All I can think of is: If it walks like a duck, and quacks like a duck... We have been Quacked!
In retrospect I can totally relive Bill McGann's 'Victory Lap' speech.

Bill McGann said: "We have time constraints at present and I have to keep it short. Then he started patting himself on the back and recognizing the great job form the Team: "For taking this across the goal line... Can't talk about anything.. But I am looking forward too sharing with you the great news"..

So: Bill McGann CEO. Stupid or Complicit?