To be fair DMRJ took a calculated risk and it looks like they will get all their money back plus $100m profit and good luck to them. Now that profit does not to be so high now as most of it will come out of future shareholder hide. This management here have a choice now to change the future for their shareholders but will they. I remember nagging the ASTC CEO for years about taking out a selling institution that was depressing the price and he did in the end with his own money and without even using the company's buyback facility. It would not have got to 3-4 without this preemptive action.
What Buldoc needs to do is borrow $60-80m from someone else at say 7% and pay off these two toxic loans immediately stopping any further debt dilution at 8c per share right here and now. Let us see if he does it though, I strongly suspect not and all his cheerleaders here will carry on applauding this total indifference to retail shareholders who had the misfortune to buy higher than they did.
1 ASTC buys 2.5 IMSC, there is nothing to be jealous of here. OTOH you don't like inconvenient truths pointed out to all the bagholders you helped create. I posted in 2011 anyone who buys over 1.30 will be a bagholder here and damn if it is not still true today ! Instead of uselessly pumping here get on the phone to Buldoc and tell him to remove that toxic DMRJ convertible debt now he has a big IDIQ to wave to other lenders ! Do something useful for once for your fellow shareholders instead of publicly blowing his trumpet.
Another one of my truths you mean
Can you buy 67m shares and take the rest off their hands ?
'As of June 30, 2014, the outstanding balance due under the senior secured convertible promissory notes issued to DMRJ and accrued and unpaid interest was $34,552,000, of which a $3,184,000 senior secured promissory and $2,175,288 of accrued and unpaid interest are convertible into shares of our common stock at $0.08 per share'
So the company should really find the odd $60m from some one else to pay DMRJ and BAM off but will they when DMRJ have a Director here ? The 8c note was debt that IMSC defaulted on and the price dropped to a few cents which longs also took advantage off so the note was above market stock price at the time but whose idea was it to make it convertible at such a low price and now that's 67m 8c shares still waiting to be unleashed. The diluted market cap of this company looks around 200m to me.
BAM have no convertible shares but because IMSC put them as preferential creditor this shields IMSC's convertible debt from being paid off first. The interest is also convertible as shares ...
'On September 2, 2014, DMRJ converted $212,000 of the accrued interest owed by us under a promissory note into 2,650,000 shares of our common stock, at an adjusted conversion price of $0.08 per share. As of June 30, 2014, the outstanding balance due under the senior secured convertible promissory notes issued to DMRJ and accrued and unpaid interest was $34,552,000, of which a $3,184,000 senior secured promissory and $2,175,288 of accrued and unpaid interest are convertible into shares of our common stock at $0.08 per share; a $12,000,000 senior convertible promissory note and $3,320,000 of accrued and unpaid interest is convertible into shares of Series H Convertible Preferred Stock, which preferred stock is convertible into shares of our common stock at $1.09 per share; and a $12,000,000 senior secured promissory note and $1,873,000 of accrued and unpaid interest is convertible into shares of Series I Convertible Preferred Stock, which preferred stock is convertible into shares of our common stock at $1.18 per share.'
The real killing is on those 8c options, at least $50m profit once all fully converted. Who in their right management mind would agree to such massive dilution at such a low price. Oh well, it's turned into a perennial eternal buying opportunity for enthusiastic longs at around a dollar and quarter.
If the management really cared about them they would now take out a $60-80m loan at a lower interest rate to wipe out all that convertible debt.
Never shorted a stock in my life and never will. Sorry you can't handle the truth. You can now wait on the imaginary positive spin from your desired posters ;-)
Telling the truth is being nice, notice only my price targets have been remotely been proven correct over the years unlike all your ridiculous $2-$15 price targets which have trapped so many bagholders in this stock.
Why do you think DMRJ let that other creditor's non-convertible $20m take preference ? To protect their convertible debt of course. DMRJ unlike you is not dumb.
There is going to be massive dilution and there is nothing that can be done about it as you would have to pay off about $40m of non-convertible debt first to get to it and that is not going to happen for years by which time DMRJ would have fully diluted. You are going back to 1.18 whether you like it or not until DMRJ fully convert all those options and then down to 1.09 and then lower under 1 once all those 1.09 options are converted until DMRJ finally get rid of their 8c options. Only then will this stock be safe to buy.
Contrary to also what you just inferred 1stDetect also did not apply for any TSA related business which in hindsight was another wise move by the ASTC CEO as now would not have been an appropriate expenditure of time and money. 1stDetect technology is superior but the govt has to use its budget each year or it will lose it and it just happened to be IMSC's turn this year as their non-radioactive product was ready before Smiths. Lucky you and it was just luck.
Fred did not mock me or ASTC, in fact he gave a civil factual on-topic reply to me. It's long past time to stop bothering him. Let him be.