Replies to post #45522 on Secure Point Technologies Inc (fka IMSCQ)

[pumper_stumper]

judge sees PP as criminals

Can you post the exact quote from the judge that you believe states this?

A bank loans me $100,000 on a 30-year loan at a rate of 15%. After 5 years I find another bank that will finance me for 3%.

Can you show where ANYONE was willing to finance this POS after 5 years at a lower rate? Um, the loans were due and no bank was insane enough to finance them at ANY rate, and certainly not 5%. So, where do you get this?

"Not in this country. "

Walking away from debt because of a matter between its lender and its SHAREHOLDERS? Nope, not in this country! Nice try by the 5 stooges (equity committee). Very pink sheet of them.

Did anyone with mortgages get to walk away from them in the financial crisis because bank fraud in overvaluing mortgages meant that debtors didn't have to repay the mortgages? ;-) hmmmm

[ken_r]

And if, in the near or distant future, it can be PROVEN that IMSC was somehow prevented from seeking out better financing, we may get more than the current price.
I still don't see how you keep a company from seeking better loan terms unless you are holding everyone on the BOD hostage.
And I still don't see how this gets resolved this year.
Any plausible explanation is welcome.
How did the bad guys stop our management from getting a better loan?

[Ramp Worm]

-Question-
Did McGann conspire with Platinum to defraud IMSC investors best interests? I feel he did and I feel he needs to go down. The man may be a fine scientist. But he blew Platinum's smoke at investors rather than execute his responsibility as CEO. HE was serving two masters and we know which one he was most fond of.

Could there any criminal culpability to his actions or lack of actions? Can shareholders claw back anything from McGann personally for misprision of a felony or another charge? Just curious what you legal minds feel in regard to McGann. IMO he flat out lied during that Victory Lap Speech. We never heard again from this LPOS.

Thanks to all for your contributions.