RE:RE:RE:RE:All Shareholders of IntermapInsightprovider wrote: The offering was for a potential 100m extra chares, only 60 were raised. Mgmt has been exceptioal so far and is looking at a reverse split to make investment available to various funds with the obvious intention to sell the company eventally. What is the arguement to deny mgnt what they want to do now?
Insightprovider,
Management is doing some positive things and I have no issue with Blott running the show. However, shares went from 40-50 cents this summer to 5 cents during this time of transition. At this time, the insiders are loading up cheap or free shares while they disclose minimal information to everyone else. Yes, things are looking like they might be turning around but they haven't YET! Shares are still at rock bottom, the company has 30+ million in debt and we were diluted over 50%. I feel they need to get cash flow positive for a few quarters, return some value to shareholders and then start asking for rewards. As for reverse splits... they don't help share price appreciate when companies are losing money, and have massive debt. Institutional investors want to see steady earnings and a solid direction. Intermap just isn't there yet. In a year, a reverse split might be a good idea once things progress. We can vote again next year to approve. Just my 2 cents (aka 1/4 share of Intermap)