Replies to post #45182 on Secure Point Technologies Inc (fka IMSCQ)

[Johnstones]

Simple:

Why spend precious time and money going after management and a measly $5M when you have a better chance of recouping $50M from PP.

The sec and FBI will collect the $5M from these scumbags on their way way prison.

For all you Bolduc fans? He could have 'blown the whistle' on PP instead of collecting cash and merchandise to keep his mouth shut and all the while telling you to 'buy more'. Pathetic excuse for a human being. I'm sure his family is thoroughly embarrassed.

The judge did not extend this investigation because EC had no case. They will reduce amount owed to PP by $10-25M. Cash payout at end will be $20-$35M or.25-.44/share.

Thanks EC!

[Nowak488]

How much money can we claw back from management?

It's all about the cash sitting in an escrow account - at least when it comes to the BK court. They aren't a criminal court...

[ken_r]

Sometime back I asked if any posters were familiar with the EC's reputation and results. I've come across many lawyers in my life and only a minority are looking for a fight. Most of the ones I've dealt with want to settle quickly. This is even more so if they are successful since, like any business, they prefer high profit margins and fast turnover. In hindsight we needed a lawyer, not a scientist, to run things. Most scientists are ready to spend years to find one answer, and at 12%+ our worst enemy was time.