Intrinsyc Software International Inc ISYRF

Insiders

[esprit1]

If you are a Bay Street investor or Fund Manager - you have litteraly thousands of equities to pick from to put your investment dollars into.

ITC has not done a particularly good job at getting Bay Street interested in the stock - see the lack of analyst coverage.

Despite that, in the last couple of months we did have some parties appear to be driving the price up with increased demand - very positive - which pushed the stock up to fair(er) value when compared to its peers.

As I said before, Q3 conference call was the most forward looking and optimistic I have heard from ITC since Tracy took over.

And then the largest single shareholder of ITC - and board member who fought a proxy war to get named to the board - decides to sell 500K plus shares on a long weekend.

For good measure, the CFO decides to bail out as well.

So my question is this.  If you are fund manager, Investment house, major retail investor - and you have thousands of choices of where to park your money on the TSX, would you park your money in ITC if arguably the top two insiders are dumping and dumping big?

ITC could have stemmed some of the bleeding if they had some good news to offset the selling - and why they did not feel it was important to release the NXP/Qualcom news that Clodo1 posted a couple of days ago, who knows.

My point is you can have all the good results, positive EPS, and positive outook you want - nothing speaks louder than insiders dumping - and my guess is not many investors will look past that fact at the underlying story.

As for Marks, I cant imagine he got into ITC in order to make 60 or 80 cents a share over a 4 year period - ITC was a high risk play when he got in.

He and Reznik dumped at a price that valued ITC at about 11X earnings plus cash - never mind the value of the accumulated tax losses on the books.

Whatever their reasons, they severly damaged the optics of ITC as a good story, and as such put the brakes on the solid advances we were making.

Shareholders have a right to question that.