New Language and strategic direction unveiled"The Company is seeking to become a large participant in underwriting private flood risk, which is a growing market segment where many large surplus and admitted carriers have recognized the Company's unique products and have recently become customers."
The disaster insurance industry creation that Ivan Maddox had been discussing over the past few years looks to be the wild card Intermap sees a future with. This is something nobody has factored into previous Intermap projections - always a 'one day' or 'hopefully' type of thing.
And we have life and a new direction to pursue.
" It announced a comprehensive upgrade of its radar system, making it the most advanced commercial multi-frequency data acquisition platform available. It announced a task order to deploy its new system in Southeast Asia in 2017. And it added employees to its processing operation to absorb increased demand for services associated with these initiatives."
- Malaysia confirmation, plus surrounding nations.
"Adjusted working capital excluding non-cash liabilities, such as warrant and long-term incentive plan obligations to be settled in equity and an estimate of the portion of the $6.0 million Bridge Loan to be converted to long-term following the conclusion of the Rights Offering, was negative $1.2 million at December 31, 2016 and negative $13.4 million at December 31, 2015." - do the math.
Finally - the timing of this report is likely not coincidence.