I-mate Share Discussion Threads

[hugepants] 27/10/2008 13:18

There were large sells at 0.1p on Friday. Whats the point? The current share price is at a massive discount to net cash and an even bigger discount to NAV. And the company said at the results they reasonably expect to have funding for the next 12 months. Then there are the new devices to be launched in February. If these are a success then there could be an opportunity to either sell the business or raise more money. But selling at 0.1p makes no sense at all!!!

[pelleeds1980] 27/10/2008 12:02

See someone sold a load for £6 this morning! Must be desperate for the cash!

[8trader] 23/10/2008 22:21

0.1p bid !

What happened to 125p very soon !

The con-man known as "digging" is now posting as "goodmorning2" and
trying to pump and dump bad stocks with his sidekick andrbea !

[hugepants] 22/10/2008 10:51

But I-mate do have a brand presence in the middle east. Agree though I dont see how they can really compete with the big boys. Maybe the plan is to stabilise the business by minimizing cash outflow then releasing top of the range new devices and selling up.

[mali7] 22/10/2008 09:31

From a business perspective it make sence to delist due to the cost saving, as recovery in I-mate will take min 3yr. Also if cash held finish in 12mnths time, I doubt if a lender would lend if not profitable. However I-mate not written-off, it will be like a private equity share. Then either if Jim can turn around in next 3-5yrs or sell off now or as a trade sell later.

However I-mate does have good phones, with good technology, however it hasnt been managed well, which realy need to sort out. If you have ever bought Pre-IPO or private equity stuff this may be worth a speculative buy for the long-term min 5yr at max up to 1p.

[volsung] 22/10/2008 09:18

I am going to visit my aunt in Shrewsbury. Anyone know any good dogging sites there?

[hugepants] 22/10/2008 09:17

Remember I-mate has the new devices to be released in Barcelona in November so its not game over yet!

And cash of £6.5M and £12.7M in net liquid assets versus current market cap of £0.7M. Still possible Jim will sell up. The I-mate brand could be attractive.

[8trader] 17/10/2008 19:46

What about andrbea and digging on here !

Still no apologies for some blatant ramping when it was quite
obvious what was going to happen !

[jotoha1] 17/10/2008 15:52

The guy has failed and blames everything and everyone except himself, typical of incompetant egonistic people, clearly there will be no future support for him unless he lets someone in with a bit more savvy than he has, but then again he has taken the city big time so you could say he is a bit smarter then the average spiv!

[windjammer] 17/10/2008 14:39

you only have to read Jims comment at the bottom of the trading statement,
sounds like he has gone into self distruct mode.

[jotoha1] 17/10/2008 14:00

At these levels no point in selling out , if he fails to rebuild company then everyone will loose, if he makes it then at some stage you will all be rewarded big time, thats the gamble, pittance now versus nothing or a fortune at some time in the future, I would expect Jim to be taken out when he fails, no decent people will want to work for a one man band!!

[pelleeds1980] 17/10/2008 12:04

I bet Schroders Plc are happy!

[pelleeds1980] 17/10/2008 11:57

Any point selling at this price!? Not looking good for the PIs any benefits to us of having this set up?

[windjammer] 17/10/2008 10:04

lat

no the co will just continue as it is, you will still own your shares
provided you are fully paid up

[mali7] 17/10/2008 10:02

Yes, if they delist will the share be like pre-ipo's a private equity share?

Would there be potential to list again say 3-5yrs? if they survive and tunraround managed?

[latifs100] 17/10/2008 09:56

if they de list.. does it mean cash is distributed to shareholders?...

what happens to the shareholdings?

[windjammer] 17/10/2008 09:49

hugepants

hope you are right, that was my original thinking but, Jim has got tunnel vision and wont let go. if the shares were better distributed with Jim say only owning 25% i would be in like a shot at these levels.
but this guy will go down with the ship.
loads of bargains out there, so worth taking the loss imho

[someuwin] 17/10/2008 09:35

Bartercard (BRTR) went private last year and the shareholders who hung on seem to be doing alright out of it.

[hugepants] 17/10/2008 09:28

It was always going to delist.
This update doesnt fully take into account the cost cutting because running costs are down to $1.3M per month and delisting will knock another 10% off that. (Cost of being listed stated as $2M per annum in final results)

"Our cash position is at $11.2 Million and stock at $9.1 Million with debtors of $3.9 Million and creditors of $2.6 Million."

Thats cash of £6.5M and £12.7M in net liquid assets versus current market cap of £1M. Seems pointless selling. Might get taken over.

[andrbea] 17/10/2008 09:21

to delist then


which suggests SFA for present shareholders

[windjammer] 17/10/2008 09:04

well looks like Jim is on a one man crusade to nowhere, glad i bit the bullet a few days back and got out.
lucky to get 1.5p
put what was left into TMC AT 22P which over the next 5 years will be a 20 bagger
third largest nikel mine in the world and the largest not owned by a major
and large offtake agreements with BHP