Did anyone really expect DMRJ to walk away from IMSC after TSA approval? I doubt it, not when they can get a tidy 15% and still have millions of cheap shares they're sitting on. Anyone have any theories as to why the extension was only six months this time?
I agree intendance. Just yesterday it was suggested DMRJ was losing its patience, and wouldn't extend the loan anymore. Just look at the quote from David Levy of DMRJ. Kind of puts a big hole in the arguments of those who were trying to say that DMRJ was going to pull the plug and they were running out of patience, blah blah blah. They clearly see the upward trend in sales, the qualification of the QS-B220 and the STAC approval, and also probably know things we don't, and just gave IMSC a big vote of confidence.
Too quiet. I think there must be a big basher pow wow going on to figure out what to say next. Kind of disturbing for them to hear that DMRJ was willing to stay the course. Ya think that an over 1 BILLION dollar fund knows what they are doing and what is going to happen next with IMSC.
WILMINGTON, Mass., Nov. 14, 2013 /PRNewswire/ -- Implant Sciences Corporation (OTCQB:IMSC), a high technology supplier of systems and sensors for homeland security markets, today announced that it has renegotiated its credit agreements with its senior secured lender, DMRJ Group LLC.
DMRJ has agreed to extend the maturity of all Implant Sciences' indebtedness from March 31, 2014 to September 30, 2014. No other terms or conditions of the credit agreements were changed.
DMRJ's David Levy commented, "Implant Sciences continues to solidify its position as a leader in the Explosives Trace Detection market. The Company's QS-B220 Desktop Trace Detector has successfully achieved certification with the Service Technique de l'Aviation Civile ("STAC"), the French civil aviation authority, for passenger and cargo screening, was accepted into the "Qualified" section of the TSA's Air Cargo Screening Technology List, and is progressing through the TSA's Systems Integration Facility toward qualification on the TSA's Qualified Product List for passenger checkpoint and checked baggage screening. Extending the credit facility with Implant Sciences clearly demonstrates our confidence in the continued success of Implant Sciences."
Implant Sciences' President and CEO Glenn D. Bolduc added, "Once more, DMRJ has demonstrated their confidence in Implant Sciences and belief in our future. We have been partners for almost five years and they continue to be extremely supportive of Implant Sciences and our initiatives, for which we are most appreciative."