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tedpeele

12/23/16 1:03 PM

#44711 RE: int10a #44708

Thank you. I find the part in #49 after 'Notwithstanding' to be very titillating with the implications. Just kidding of course, but actually 77-78 is interesting:

It's nothing new but we can see where the committee was likely going with this:

<<77. Ironically, Implant Sciences had just achieved the height of its success. After years of struggling through the morass of regulatory approval, the Company had secured an IDIQ contract with the TSA that afforded the Company the opportunity to realize revenue of $162 million dollars. The TSA approval served to open up forty three per cent of the world market for ETD equipment. Furthermore, Implant Sciences had secured an initial purchase TSA order pursuant to the IDIQ, and had just reported a revenue
increase of sixty per cent. The Company's stock had traded at an average of $1.23 per share over the preceding three month period, which was the Company's highest quarterly average share price to date.

78. Bolduc ultimately resigned as president and chairman of the board in January 2015. Shortly thereafter, DMRJ extended the maturity dates of the credit facilities. >>