Replies to post #18063 on Identa Corp (IDTA)

[RichieBoy]

LOI , vendor agreement, even IF! it's a real contract
It could be ripped up today and Identa is off the hook. That's business and as far as I can see Identa has covered there tracks well, but the legal escape hatch is wide open IMO. Pretty sure you will find that "vendor agreement" every stuckholder is pinning there hopes on is really just the LOI which isn't worth the paper it's written on. Both companies will have made meticulous allowances to jettison any legal tangle-foots you can be sure of that.

[RichieBoy]

Boil this down

All CEO is saying is, I have a signed proposal to sell X number of kits to XYZ pharmacy come September which may be later. That is all that we have received. I think you will find the LOI is the "vendor agreement". I don't see how that could be legally binding as misrepresentation. You would need to ask a securities lawyer (Em...?)

Of course stuck-holders took it and ran with it what other choice is there? That was the real pay-off for management. Last year it was around Aug 15th the dilution finally surfaced although I seem to recall it was actually instated end of July. It took about two weeks to filter through the channels.

Yes ok the NMS crime lab report is PURPORTEDLY about to be released. All well and good but where are the sales? These retail products couldn't possibly hope to be represented without justification enter Bianchi. That tells me the major shift toward retail is because Identa failed to oust NIK, failed to convince GSA or military or Homeland Security. Indeed after 9 years what significant contract is to show for industrial detectors? I asked some Customs inspectors I work with down in Seattle if they ever used Identa kits...they had never heard of them before. 9 years of potential has it's limitations. Identa has failed to crack the US market for whatever reasons I don't see how anyone can argue otherwise. NIK detectors got sold and still hold GSA contracts, why did Identa not capitalize?

I think because of this lack luster performance these past 9 years Court Approval is toast so Identa needed a diversion. Don't forget it has taken 5 years+ to get this far with retail and still not one retail contract. UNSUSTAINABLE