RE: Undervalued...IPXWhy this opportunity may be for you?
This deal represents significant percentage of the company, and is being done at a meaningful discount to current asking price
IP Application's President is tripling his share position in this deal and is the lead order
New VP Operations is a buyer in this deal too
Venture Capital firm is converting 100% of their secured debenture into common share equity at this price
Balance sheet is excellent post-conversion
Company is EBITDA positive in 2007 and earnings positive in 2008
Biggest customers of IP Applications are Microsoft and ReMax (no single customer exceeds 15% of revenue)
Since 2000, $75,000,000 of equipment has been purchased/rolled into IP Apps (nearly all at post tech bubble prices)
The company's total value is just $4.5 million and has sales of $8.0 million, expecting to surpass $10 million in 2008.
Downtown office lease rates have skyrocketed and IP Applications fortunately has excess space & they locked in two years ago (10 yr lease)