RE:RE:RE:RE:RE:RE:Selling (looks) done...It shouldn't be a surprise to any of us that the company sale's cycle is extremely long. IMP's contracts are extremely complex and deal with multiple government bodies. On one of its conference calls, management highlighted that some of its ongoing sales initiatives have been in the works for two to three years. So a couple of months delay on these contracts, although it feels like a lifetime for us, should not be a huge disappointment or be an indication that the company is not nearing close on these contracts.
I, like many of you (and the company I bet), share the same frustrations given the company's current fiscal situation and large sellers in the market. But, with Vertex financing the company (with debt), the risk of IMP failing to close one of these contracts is greatly reduced.
The company DOES have a unique and value-add product in its ORION product. In fact, I would assume the only reason why a $7 million market cap company is the only one at the table with these goverments is exactly because they have a product few are capable of building.
This is taking longer than expected, but nothing has changed. Vertex announced the conversion of one of its convertible debentures into equity. Why would they want equity instead of debt? I believe there's the potential to have three contracts announced this year with a value in excess of $200 million. Vertex thinks the same I would think. So why pull the plug?