RE: Globe Columnist Pans Intertainment Mediahere you are:
Globe's Mittelstaedt pans Intertainment Media
Ticker Symbol: C:INT
Globe's Mittelstaedt pans Intertainment Media
Intertainment Media Inc (C:INT)
Shares Issued 125,492,087
Last Close 4/29/2011 $1.49
Monday May 02 2011 - In the News
The Globe and Mail reports in its Saturday edition that Intertainment Media started the year trading at a dime and in April climbed to a record high of $3.35 before settling back to finish Friday at $1.49. The Globe's Michael Mittelstaedt writes that counting the company's outstanding options and warrants, Intertainment was worth more than $500-million at its peak and is still worth over $200-million today. Mr. Mittelstaedt notes that the company had $5-million in sales last year from its printing business and $32,086 from its new-media division. It is the new division that has created all the excitement, specifically a product called Ortsbo which promises instantaneous translation for nearly all the popular instant-messaging platforms. Intertainment licensed the technology in July, 2010, from SaaS Technologies. Mr. Mittelstaedt says he is dubious of Intertainment's claim earlier this year that the growth of Ortsbo was outpacing the first-year growth of Facebook. Ditto for Alpha Macro Strategies Fund analyst Nicholas Abe, who is shorting the stock. Mr. Mittelstaedt says, "Ortsbo may be efficient at translating Czech into Chinese, Intertainment stock will likely be just as effective in turning your dollars into pennies."
© 2011 Canjex Publishing Ltd.