Replies to post #45408 on Secure Point Technologies Inc (fka IMSCQ)

[pumper_stumper]

Sanity! Finally! Well written with dozens of referenced cases. That half witted equity committee probably won't comprehend it all, but thankfully the judge will!

I couldn't have said it better myself

"When the Equity Committee's proposed complaint is stripped of its innuendo and slanted allegations it can be seen for what it really is - a tale, full of sound and fury, but ultimately signifying nothing. 2 "

[pumper_stumper]

How many times have I said this same thing that the filing says here?

"Despite defaults under the parties' loan agreements, DMRJ refrained from accelerating the Debtors' obligation to pay all principal and interest due and foreclosing on all the Debtors' assets, which would have eliminated any value for unsecured creditors, much less equity.
Put simply, Debtors could not have stayed in business or reached the point they are today without the support of DMRJ and Montsant. "

How many times did I say this?

Committee cites the recent federal indictment of certain former executives associated with the
lender and related SEC and civil litigation, even though these charges, while certainly serious, are
entirely unrelated to the DMRJ Parties and Debtors.

Why can't shareholders understand this?

Note, none of the committee had ANY problem with the financing until bankruptcy was filed! lol If the financing was so bad, you should have sued then, or just sell the stock BEFORE this disaster!

update.... They actually said this too! lol

The overwhelming majority of the claims that the Equity
Committee seeks to bring here arose pre-petition and, therefore, could have been brought by Debtors at any time, including while Mr. Bolduc was in charge, i

Just sour grapes from losing shareholders!

What a waste of taxpayers money this is! Luckily, at least the IMSC shareholders are paying the legal costs!!!

[JenningsB]

The good parts were redacted, like Liscouski's testimony.