5s
New Member
Posts: 20 
|
Post by 5s on Oct 7, 2016 18:22:46 GMT
Well, call me crazy, but I just added to my position. My reasoning is simple. In the worst case scenario Vertex can't file for bankruptcy until the end of March 31st. I also think that when all is said and done, Vertex will not be satisfied with the current $7M market valuation. I mean how much would Insite Pro be worth alone? It may take a while, but that's OK. I've waited this long  I swore I wasn't going to, but I added to my position today as well under 7 cents. Blott was brought in to sell the company, not run it long-term. Too much of a coincidence that Geographic Data Tech was shown as the company being halted under the Canadian IMP ticker (if it was another company in a totally unrelated business/industry, I would chalk 100% of it up to just being a mistake, but the company is similar and the change in wording in Todd's comments in the last release lead me to believe something will come of this). Anyway, looks like buyers have started stepping in at this fire-sale price so I am game for seeing how this plays out in the next 2-3 months with a bit more capital being tied up here. Just hope we get a decent/reasonable buyout price if that is what happens here in the near-term. Standing at more 50% gains i say you guys did the right call. I regret not doing it. |
|
|
|
Post by robertku on Oct 7, 2016 18:27:20 GMT
Its incredible that it has just climbed 60% up from the lows.
|
|
|
|
Post by prokofiev on Oct 7, 2016 18:56:44 GMT
I contacted IIROC yesterday. The person reach on the phone was not present the day of the halt (unfortunately) and was not able to confirm if this was an error or intentional. She needed to go back to the “Surveillance” team to get additional info. However, I got a few key pieces of info prior to hanging up. IIROC deals ONLY with public companies, which makes this “Geographic Data Tech” showing up on one of the two trading halts under IMP’s ticker very odd. Geographic Data Tech is a subsidiary of TomTom, a public company listed on the Amsterdam Stock Exchange. TomTom would be a very logical strategic buyer for Intermap. The only example she gave me of why two companies would be halted at the same time, would be if some sort of deal/acquisition/merger was happening between the two. Another important piece of information is that publicly listed companies have to “pre-file” the halts and send relevant information ahead of time. She was not really able to confirm if there could be different outcomes following at trading halt.
This is the answer I got by e-mail: If everything is kosher, why hasn’t it be fixed yet on the website? I find it odd that such a conservative organization would let such things linger, especially after IIROC had received multiple inquiries and organized a group meeting to this discuss this specific issue. You can check for yourself: www.iiroc.ca/news/Pages/Halts-Resumptions.aspxiiroc.mediaroom.com/index.php?s=2429&item=147789iiroc.mediaroom.com/index.php?s=2429&item=147788My next step is to contact the “Surveillance” team directly and try to figure the source of “Geographic Data Tech”. I have a feeling something’s cooking … What do you guys think? Prokofiev   I have contacted IIROC and will post here once I get more information. Should have moved to this board at long time ago... Prokofiev Still trying to figure out why Geographic Data Tech was listed on IIRC site yesterday under IMP as IMP stock was halted. That's one hell of an "oops". Makes me believe there's a little something else brewing behind the scenes that might have been accidentally let out the bag. |
|
|
|
Post by seamonkey on Oct 7, 2016 19:33:56 GMT
Awesome work prokofiev!
I too believe there is something to this. Your additional research, to me, indicates that there may have been a few different PRs being kicked around and IIRC was provided the wrong PR initially. As IIRC stated to you, a trading halt must be pre-filed by the requesting company. This is important and in no way would IIRC have just happened to place "Geographic Data Tech" under the IMP name - its just too coincidental and as you also noted, GDT is a private company and the IIRC would/should have never even known GDT exists or is affiliated with IMP.
|
|
5s
New Member
Posts: 20
|
Post by 5s on Oct 7, 2016 19:35:59 GMT
It does seems odd... but it would also be odd for a company to halt in order to announce a sale. Usually they announce these after trading hours unless they are forced to announce because the information leaked. That said i have no other explanation for this one. I mean a hell of a coincidence that that they name another company in the related field is a very specific industry. And the human that made the error would have to be very close to the industry... I had never heard of GDT before yesterday. How someone think of GDT as he is posting the halt for Intermap is beyond wierd.
The only other explanation was if Tom tom was halted on a unrelated event... but even then it wouldn't be GDT it would be Tom Tom.
I just hope that if there is a sale, that we shareholder at .35 purchase prices don't get shafted base on current valuations. I don't see this go to 400% premium because that barely happens in pharmaceuticals. So i don't know if this is good or bad news.
|
|
|
|
Post by prokofiev on Oct 7, 2016 19:50:01 GMT
TomTom is not listed in Canada and IIROC's powers are limited to the Canadian capital markets.
Perhaps the halt was intended for the management changes, but another had been pre-filed with IIROC and somehow GDT involved.
If (1) it is truly a human error, and (2) many investors have inquired about this issue prompting a "Surveillance" team meeting and (3) many of us were assured it was fixed, why is it still showing under their website? The only reason I can think of is if Intermap requested it and thus it is valid and cannot be removed by IIROC. Perhaps this is a stretch, but I do not have another explanation at the moment.
Prokofiev
|
|
|
|
Post by mitshu35 on Oct 7, 2016 19:51:10 GMT
It does seems odd... but it would also be odd for a company to halt in order to announce a sale. Usually they announce these after trading hours unless they are forced to announce because the information leaked. That said i have no other explanation for this one. I mean a hell of a coincidence that that they name another company in the related field is a very specific industry. And the human that made the error would have to be very close to the industry... I had never heard of GDT before yesterday. How someone think of GDT as he is posting the halt for Intermap is beyond wierd. The only other explanation was if Tom tom was halted on a unrelated event... but even then it wouldn't be GDT it would be Tom Tom. I just hope that if there is a sale, that we shareholder at .35 purchase prices don't get shafted base on current valuations. I don't see this go to 400% premium because that barely happens in pharmaceuticals. So i don't know if this is good or bad news. Company shares do get halted mid-day sometimes, depending on when the actual deal/paperwork is signed. I saw this happen with a biotech stock recently. They signed around noon and had to request a halt on the stock before news leaked (or leaked even more I should probably say...). I do think we're on to something here. |
|
5s
New Member
Posts: 20
|
Post by 5s on Oct 7, 2016 20:07:26 GMT
It does seems odd... but it would also be odd for a company to halt in order to announce a sale. Usually they announce these after trading hours unless they are forced to announce because the information leaked. That said i have no other explanation for this one. I mean a hell of a coincidence that that they name another company in the related field is a very specific industry. And the human that made the error would have to be very close to the industry... I had never heard of GDT before yesterday. How someone think of GDT as he is posting the halt for Intermap is beyond wierd. The only other explanation was if Tom tom was halted on a unrelated event... but even then it wouldn't be GDT it would be Tom Tom. I just hope that if there is a sale, that we shareholder at .35 purchase prices don't get shafted base on current valuations. I don't see this go to 400% premium because that barely happens in pharmaceuticals. So i don't know if this is good or bad news. Company shares do get halted mid-day sometimes, depending on when the actual deal/paperwork is signed. I saw this happen with a biotech stock recently. They signed around noon and had to request a halt on the stock before news leaked (or leaked even more I should probably say...). I do think we're on to something here. Absolutely i agree that sometimes they do but it's usually when there is a leak. Here there was no leak... unless that drop right before the halt was in fact a results of a leak. But if this was the case why a DROP in price. If someone is buying IMP they would pay a premium from current levels. So why the drop right before the possible announcement? Maybe the buyout was in fact a possibility but the deal fell through? |
|
|
|
Post by mitshu35 on Oct 7, 2016 20:07:41 GMT
It does seems odd... but it would also be odd for a company to halt in order to announce a sale. Usually they announce these after trading hours unless they are forced to announce because the information leaked. That said i have no other explanation for this one. I mean a hell of a coincidence that that they name another company in the related field is a very specific industry. And the human that made the error would have to be very close to the industry... I had never heard of GDT before yesterday. How someone think of GDT as he is posting the halt for Intermap is beyond wierd. The only other explanation was if Tom tom was halted on a unrelated event... but even then it wouldn't be GDT it would be Tom Tom. I just hope that if there is a sale, that we shareholder at .35 purchase prices don't get shafted base on current valuations. I don't see this go to 400% premium because that barely happens in pharmaceuticals. So i don't know if this is good or bad news. So could it be that Todd & Rich didn't want to sell out to GDT so they got axed, and now Vertex has directed Blott to close the deal with them? Hmmmm... |
|
|
|
Post by mitshu35 on Oct 7, 2016 20:12:52 GMT
Company shares do get halted mid-day sometimes, depending on when the actual deal/paperwork is signed. I saw this happen with a biotech stock recently. They signed around noon and had to request a halt on the stock before news leaked (or leaked even more I should probably say...). I do think we're on to something here. Absolutely i agree that sometimes they do but it's usually when there is a leak. Here there was no leak... unless that drop right before the halt was in fact a results of a leak. But if this was the case why a DROP in price. If someone is buying IMP they would pay a premium from current levels. So why the drop right before the possible announcement? Maybe the buyout was in fact a possibility but the deal fell through? I was watching the selling as it was happening (under the ITMSF ticker - so it had to be U.S. sellers and not Vertex in Canada). It was almost all done in large blocks, not in multiple small orders so it wasn't your average retail sellers at work. I think it may have been Todd & Rich dumping on their way out the door. Maybe they had to exercise options and then dumped the stock before those options would have somehow become worthless upon their departure? |
|
|
|
Post by ctblizzard on Oct 7, 2016 22:03:06 GMT
I realize I am like the black sheep around here and on all the boards but I did keep from posting on the down days even if after all the grief I took I felt like saying something. Like I said I never hope for people to lose money.
I wanted to offer you the answer to your curiosity regarding the IIROC reporting. I figure it is better you know the truth than throw more money at a wishful thinking type thing (being pushed by many new posting names on boards)
GEOGRAPHIC DATA TECH is not Geographic Data Technology Inc, which as you pointed out is a company bought out by Tele-Atlas North America which was bought out by Tom Tom. Rather is it is the INDUSTRY CATEGORY that was accidently tabbed by the person issuing the halt.
I can point you to the exact info to confirm that at the link below. You will need to click the link then use CTRL-F to get to the search function and type in Geographic Data Tech. You will see it is just to the right of Intermap and represents its industry classification (Geographic Data Tech) on the system. Just like the stock above it is MINING AND SMELTING. It is nothing more than clicking the wrong tab.
Before I get to the link Id just like to say first this was a story about great management and a turnaround with SDIs. The award allowed over 20 million shares to get sold by institutions at prices at multiples of the current price. The talk was the "financing was in great shape" the "prime was an expert in this financing" the "prime had the financing locked down". Then management wasn't so great and is basically gone. The deal which was "on track" for over a year and never seemingly "off track" even went to "final stages" months ago. Now you are told after over a year of waiting that you will not be updated on the progress of that deal (or others) and no one seems to have a problem with it because of this "merger" talk. Which is not even true. I mean, come on you guys are way better than this, it took me all of 5 minutes. People have lost hundreds of thousands of dollars in this, some people have been ruined by it. Morever, I told you there was much more to the story here, always question WHY people are saying what they are saying.
Despite the info here being cleared up for you. There is an NOL which has value to a company with income, but there is also a ton of debt. Geographic Data (the company) was purchased for 100 million or so back when it had 6 million in ebitda and about 45 million in sales. Say you use that as a guide. Id say on a good day the stock is probably fairly priced between 10-20 cents at best.
It is my opinion here is that the play is for Vertex to get out by end of year so they dont have to eat a 4-5% loss on their portfolio when the auditors come in to value the debt and the stock has already fallen. Given they have cheap warrants and might want to cash those in I would say tops 10-20 cents if that value here (seeing that the company doing the buying needs to come up with around 30 million to pay off debt as well My opinion here. Best of luck to everyone
See this link but read my instructions
|
|
|
|
Post by JHam on Oct 7, 2016 23:45:41 GMT
I realize I am like the black sheep around here and on all the boards but I did keep from posting on the down days even if after all the grief I took I felt like saying something. Like I said I never hope for people to lose money.
I wanted to offer you the answer to your curiosity regarding the IIROC reporting. I figure it is better you know the truth than throw more money at a wishful thinking type thing (being pushed by many new posting names on boards)
GEOGRAPHIC DATA TECH is not Geographic Data Technology Inc, which as you pointed out is a company bought out by Tele-Atlas North America which was bought out by Tom Tom. Rather is it is the INDUSTRY CATEGORY that was accidently tabbed by the person issuing the halt.
I can point you to the exact info to confirm that at the link below. You will need to click the link then use CTRL-F to get to the search function and type in Geographic Data Tech. You will see it is just to the right of Intermap and represents its industry classification (Geographic Data Tech) on the system. Just like the stock above it is MINING AND SMELTING. It is nothing more than clicking the wrong tab.
Before I get to the link Id just like to say first this was a story about great management and a turnaround with SDIs. The award allowed over 20 million shares to get sold by institutions at prices at multiples of the current price. The talk was the "financing was in great shape" the "prime was an expert in this financing" the "prime had the financing locked down". Then management wasn't so great and is basically gone. The deal which was "on track" for over a year and never seemingly "off track" even went to "final stages" months ago. Now you are told after over a year of waiting that you will not be updated on the progress of that deal (or others) and no one seems to have a problem with it because of this "merger" talk. Which is not even true. I mean, come on you guys are way better than this, it took me all of 5 minutes. People have lost hundreds of thousands of dollars in this, some people have been ruined by it. Morever, I told you there was much more to the story here, always question WHY people are saying what they are saying.
Despite the info here being cleared up for you. There is an NOL which has value to a company with income, but there is also a ton of debt. Geographic Data (the company) was purchased for 100 million or so back when it had 6 million in ebitda and about 45 million in sales. Say you use that as a guide. Id say on a good day the stock is probably fairly priced between 10-20 cents at best.
It is my opinion here is that the play is for Vertex to get out by end of year so they dont have to eat a 4-5% loss on their portfolio when the auditors come in to value the debt and the stock has already fallen. Given they have cheap warrants and might want to cash those in I would say tops 10-20 cents if that value here (seeing that the company doing the buying needs to come up with around 30 million to pay off debt as well My opinion here. Best of luck to everyone
See this link but read my instructions
So you are saying that it is only downhill from here? Bankruptcy and that's the end of it? |
|
|
|
Post by kmacroecon on Oct 7, 2016 23:58:32 GMT
LOL
|
|
|
|
Post by ctblizzard on Oct 8, 2016 0:52:39 GMT
So you are saying that it is only downhill from here? Bankruptcy and that's the end of it?
|
|
|
|
Post by JHam on Oct 8, 2016 2:41:10 GMT
So you are saying that it is only downhill from here? Bankruptcy and that's the end of it?
I know, you said this: Before I get to the link Id just like to say first this was a story about great management and a turnaround with SDIs. The award allowed over 20 million shares to get sold by institutions at prices at multiples of the current price. The talk was the "financing was in great shape" the "prime was an expert in this financing" the "prime had the financing locked down". Then management wasn't so great and is basically gone. The deal which was "on track" for over a year and never seemingly "off track" even went to "final stages" months ago. Now you are told after over a year of waiting that you will not be updated on the progress of that deal (or others) and no one seems to have a problem with it because of this "merger" talk. Which is not even true. I mean, come on you guys are way better than this, it took me all of 5 minutes. People have lost hundreds of thousands of dollars in this, some people have been ruined by it. Morever, I told you there was much more to the story here, always question WHY people are saying what they are saying.Many of us have been saying for a while now that the narrative you keep describing above of how you think we view the company, is not accurate. I agree that while the glitch during the trading was probably just that, a glitch (human error), that doesn't mean it is untrue that there is a merger talk ongoing. I thought that prior to this "glitch" and think it now. Oseth said himself that the goal was eventually to get acquired. Blott has made a career of facilitating acquisitions/mergers. I don't have a pie in the sky view of things, but definitely think a buyout is where we are headed, and I think there is plenty of evidence to support that. And I think it will be worth more than the current market cap. So since I am stuck deep in the red in this one, and even though I may not get back all of my money, I think that if I am patient enough it will be worth more than it is today. |
|
|
|
Post by edftyui on Oct 8, 2016 17:55:19 GMT
I think we are all forgetting that management has stated many times in the past that if SDI #1 was cancelled, then they would be obligated to press release that information. They have not. I take a modicum of comfort from that. Now, if the company was in total disarray, then all bets are off and they probably wouldn't worry about issuing press releases on anything--but I don't think that they are in total disarray. The company PR'd the management changes, the Intermap blogger continues to make posts that show up on linkedin and twitter pages. They have cut expenses dramatically with the renegotiation of the royalty and the debt obligations (not including the cost savings of firing senior mgmt). And finally, the third quarter had two decent revenue events (the Alaska mapping and the Lloyd's InsitePro win), so I think there's a lot of jumping the gun going on here.
For all those that are now talking about a hope'd for sale at .20 cents, you have discounted the situation way too drastically. The company didn't lose its technology or its pending deals, the company just had a managerial change (albeit a senior one). For all we know, Oseth and Mohr didn't want to fire a number of loyal employees, so the company did what the board felt it had to do.
There are still plenty of reasons to be excited about the future of this company.
Finally, CTBlizzard, it's far too early to be taking a victory lap.
|
|
|
|
Post by ctblizzard on Oct 8, 2016 19:33:16 GMT
No victory lap here. But I resent being put down constantly despite offering information and analysis which has proved pretty reasonable and on target over the last year. During the recent melt down I did not even post, people felt bad enough.
And I do agree with many if not most of the points jham made in his prior post and those that you make in your post. I certainly hope the direction improves and that people can make their money back and then some.
But it has been my opinion that much of the past information and analysis and guidance has been faulty all along on this stock and new "story lines" keep developing . I see some of this as more wishful thinking and probably a bit of promotional efforts. The results of past such efforts have been nothing short of catastrophic for most investors here and in some cases I question the intentions of such things. I have some other information which I cannot really share on the boards which also reinforces my personal thoughts and opinion on this.
In my mind I feel the Vertex will want an asset value on their 12/31 financials that does not represent a complete write down. Thus I feel they will look to merge or get paid or work some deal before that time (or perhaps before auditors come in for valuation purposes a few months later). This is of course assuming the SDI is not in the loop. Now if the SDI was in the loop it would be pretty awful letting go of prior management right before that happened but I assume it is possible.
Lots of uncertainties but I hope the scenario you envision happens.
|
|
|
|
Post by sundog on Oct 8, 2016 22:23:40 GMT
"I have some other information which I cannot really share on the boards which also reinforces my personal thoughts and opinion on this.
"
To share your hard-earned DD, and leave shareholders hanging with your "inside info", is irresponsible, and subject to serious question.
|
|
|
|
Post by ctblizzard on Oct 8, 2016 23:22:39 GMT
Just so you are clear, I have no insider information. Also everyone knows where I am coming from in regards to analyzing who posts things and why people post things and when they first arrived at a board etc. Given that I am open, honest and have been cautionary on this stock and people remembered that lots of people opened up to me personally and their info is in confidence but helps paint a picture is basically what you already can see.
Take for example all the new names you see on the SH board, the people that started the new "due diligence" chain on this rumor about a takeover all based on an industry classification.
I just do not think public boards are a place to air certain things. I wish everyone luck, and again my guess is something happens within about 4-5 months at most , probably before year end. Hopefully it will be good or there will be positive surprises.
|
|
5s
New Member
Posts: 20
|
Post by 5s on Oct 15, 2016 14:21:09 GMT
CTB, this is a stock discussion board. No need to resent. People are here to make money-- try not to take things so personally. We all have our views-- go enjoy a round of golf or hang with your family instead. It comes across like you "enjoy" being right and repeating certain mantras that will only be proved with time. People who are bullish have many reasons to be; despite your well pointed out declines in the "SP". Its been a long old road, but as edftyui pointed out-- the only thing that has changed is either projects are delayed and a Senior Management change. The company's technology and business strategy hasn't. Though the strategy may or may not alter. I think one needs to look more than the surface changes. When a company changes the execs and the board it's not just a change in senior management. Companies do these kind of changes because they want a change in direction. Because the previous leadership was not working. You don't change a winning team, you change a losing team. This means either the previous team is no longer suited for where imp (vertex) want to go, or they were not delivering on what they needed to deliver. Imo it's both because of past gap and future vision they were fired. Hopefully the new management will be better at both these issues (although the new CEO still hasn't PR anything) and hopefully my intrest will be aligned with Vertex's interest (also not that confident about this). Also the political climate of the country in question has changed dramatically... you can't just ignore that significant change. |
|
