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Intermap Technologies Corp T.IMP

Alternate Symbol(s):  ITMSF

Intermap Technologies Corporation is a geospatial intelligence company, which creates a variety of geospatial solutions and analytics for its customers. The Company operates through digital mapping and related services segment. The Company's geospatial solutions and analytics can be used in a range of applications including, location-based information, geospatial risk assessment, geographic information systems, engineering, utilities, global positioning systems maps, oil and gas, renewable energy, hydrology, environmental planning, wireless communications, transportation, advertising, and 3D visualization. Its wholly owned subsidiaries include Intermap Technologies Inc. (a United States corporation); Intermap Insurance Solutions Inc. (a United States corporation), Intermap Technologies PTY Ltd (an Australian corporation); Intermap Technologies s.r.o. (a Czech Republic corporation); and PT ExsaMap Asia (an Indonesian corporation).


TSX:IMP - Post by User

Bullboard Posts
Comment by pipsqueak3on Sep 21, 2016 11:44pm
79 Views
Post# 25263970

RE:RE:RE:RE:RE:From IR

RE:RE:RE:RE:RE:From IR
ctblizzard wrote: Copied this from my post elsewhere regarding the 90 days confusion between Todd and Cory...


TODD OSETH


"Todd Oseth, President and CEO So, sure. So what ends up happening is that there was a concession agreement that was made between the project company and the government earlier this year. And in November we received our contract for what activities we would perform. As we've said many times before, we are the sole contractor in this effort. And what ends up happening is that from the information that was delivered in November, the government had to submit a certain amount of information which did not end up hitting the project company until February. The 90-day component did not start until sometime in February. 

Again, our -- we don't have that contract, so we're in a -- we basically, all we know is the month. So it started in February, the 90-day period. So we're not in a problem in any of the covenants of the original concession agreement at this time. Then once the project financing starts, the first payment is our down payment and then there are monthly milestones that are met for the next three years. Did I answer your question?"


Shareholders Email response from Cory 

Q: Regarding the 90 day contract window - Is it 90 calendar days or 90 business days?

A: Intermap does not have a 90 day stipulation in its contract with the client. The 90 days was picked up off of the internet by certain individuals who may or may not be investors in IMP. We’ve commented previously that no-one should 100% trust that the requisite information is provided on the internet. Suffice it to say that the activity between our client, their funding partner(s), and the government continues in earnest with a goal to close the project financing as rapidly as possible



Bullboard Posts