Replies to post #4907 on Secure Point Technologies Inc (fka IMSCQ)

[Joe Rocket]

the question still remains. Why would they convert now before the huge sales come in?

[buffalop51]

And apparently still unwindng into the count to the tune of 2.5 mi additional. Just a guess, but I think DMRJ told IMSC we'll hold off on converting until TSA approval....then we're gonna have to, selling some of the converted shares as well. The volume days...DMRJ doesn't really get involved. On pops, they are sellers....convert,rinse and repeat (to a degree, they still have tons of shares for sure...and seemingl never ending converts)

URI went on cnbc in 2010 and said approval likely in 2011. They got that timeframe from somebody and it wasn't Cramer. So....perhaps the extra two years tacked on, with all the extensions they need some cash back....and it ain't helping us.

[insideoutsideupside]

I'm either looking at the wrong doc or not seeing what you've stated.

Page 23 of the 10-Q filed 02/14.

This is what I read.

"During the three and six months ended December 31, 2012, DMRJ converted 31,000 and 53,000 shares of Series G Preferred Stock into 3,100,000 and 5,300,000 shares of our common stock, respectively. As of December 31, 2012, DMRJ held 111,667 shares of Series G Preferred Stock"


I'm assuming something similar has happened in Q3 so I take your word on it. I'm just not finding it....maybe my ignorance is showing.