Replies to post #45091 on Secure Point Technologies Inc (fka IMSCQ)

[ken_r]

You're not wrong, but it seems to me the three years of delay ,accumulating interest at 12%, was what got us in too deep. The protest was just another shovelful of dirt on our grave and only two shifts running full tilt was going to dig us out once our debt exceeded our market cap. Management stated 400 units a month was the goal, but while they said they knew how to build that many, they never said they had no clue how to sell that many.JMO

[shiloh12]

That's what they want you to think. Companies that do 50M in revs with several hundred M in contracts should not have a problem getting better than 15% financing. PP was in trouble as far back as spring 14 with that gulf rig explosion, and knew then their only cash cow was ISC. GB was looking for new lending, and probably would have been successful. That went over like a fart in church with PP, was why he got turfed. The new crew was put in, and said nothing while PP sucked millions from the ISC teat for another year and a half till another fvck up on another scam deal got them arrested. Classic Madoff robbing Peter to pay Paul. This whole think reeks,the fog is lifting and it makes clear sense now why they didn't make certain fundamental biz moves- i would be shocked if there wasn't at least some criminal intent proven.