Closer and CloserThe contract IMP is looking to close is highly complex and has a timeline that is a challenge for the company to manage. However, if you look at comments made by the management team, you can tell they have become increasingly more specific (I got these off another post)...
Here’s what Todd Oseth, CEO, said back on 5/15 even before the LOA was announced on 6/22:
> “We realize that many of our investors are frustrated with the time it takes to win one of these SDIs, but be certain that closing one of these contracts is our number one priority. These SDI opportunities are significant in nature, so it's important for us to stay focused on winning them and not be distracted by unproductive outside factors. I thank you again for all the support. We remain optimistic that we’ll be able to announce an SDI win in the next quarters to come.”
> “And finally our pursuit of closing an SDI is getting closer, but we have not quite gotten there. We look forward to making an announcement as soon as possible. We also expect additional wins in other regions and industries in the future. We have a unique solution that can give a distinct advantage to those who use it.”
In this quote back in May, Todd Oseth says that they “remain optimistic that we’ll be able to announce an SDI win in the next quarters to come.” He doesn’t say in the coming “weeks” or even “months,” he says in the “next quarters” to come. Within five weeks, the $125M+ LOA was announced on 6/22.
Now with the contract awarded, what is the company saying?
> “We remain confident that we will be able to report the conclusion of the Definitive Agreements within the coming weeks."
> Todd Oseth: “You’ll be able to see through our announcements, we are in the midst of closing all of the financial terms of that deal very soon.”
Do you really want to sell here?