I-mate Share Discussion Threads

[hugepants] 30/10/2008 07:57

8T
Anyone buying/holding should definetly be prepared to lose 100% of their investment. But risk versus reward doesnt look too bad.
A lot of things can happen in those 12 months. eg. the new devices may be very successful and turn the business around. Or the company may be bought by a larger better funded company. IMTE has cash of 5.5p per share and net working capital of approx 10p per share. And there is the capital expenditure on the yet to be released new devices. Imagine someone offered a mere 3p per share for the company thats a 15-bagger for the people buying at 0.2p yesterday.

[double6] 30/10/2008 07:45

8T - as I said earlier - they should shut the company now and return £7mln to shareholders!

[8trader] 29/10/2008 20:56

HP

So in 12 months they have no cash left at all so what is the point
of buying them ?

[andrbea] 29/10/2008 16:46

P-Monitoring RNS after close

[pelleeds1980] 29/10/2008 16:43

Good spot over 3m shares traded today seems to be something going on...

[dyfiman] 29/10/2008 16:22

The first 100,000 parcel of shares was marked up as a buy....
and a string of others with identical bid, mid and buy prices followed.
It really looks like a string of buys to me. However, I'm stumped
for a reason why someone is buying. What do you lot think?? Can something
be pulled out of the fire for shareholders??
Best regards.

[double6] 29/10/2008 16:04

Are the 30k A Trades sells, covering the 100k Buys ??

[hugepants] 29/10/2008 15:49

Well this is what was said in the results at the end of september:

"...Based on reasonable projections and with our reduced cost base, we believe that we will have adequate working capital for the Group's requirements for at least the forthcoming 12 months..."

[dyfiman] 29/10/2008 14:37

Hello again......
have just come off Barclays Stockbrokers website. It records 1.7m + trades
so far today. Some are small buys - why if the prognosis is
potentially disasterous for shareholders? - but there also also a significant
number of trades in lumps of 100,000. The iii website cannot decide if they
are buys or sells. What is going on exactly? Can anyone throw some light
on vents, please??
Best regards.

[andrbea] 29/10/2008 14:19

some sales figures from Australia
Oct 24, 2008

4% ain't bad is it?:

Smartphone users who make up 9% of Australia's overall mobile phone user base, spend considerably more (20-70%) on mobile services compared to their regular phone user counterparts.
- Telsyte's end user research suggests Australia's largest smartphone vendors by installed base are Finland's Nokia (33%), Canada's BlackBerry (17%), Taiwan's HTC including O2 and dopod (9%), US-based Palm (7%), Korea's Samsung (4%) and Dubai-based iMate (4%).

[goodmorning2] 29/10/2008 14:11

xmass de-list.take-over by then.otherwise we go private

[dyfiman] 29/10/2008 14:07

Please ignore the post above. Delisting v ote is on Nov 10, so plenty
of time to explore the possibilkities of using a "removal form".
Best regards and apologies for above post.

[dyfiman] 29/10/2008 14:04

Crikey... if the above is correct????!!!! But no time left now.
Surely IMATE would have told us something by now, other than they are del-listing.
Best regards

[andrbea] 29/10/2008 13:47

the text (below) is taken from the PSG thread

maybe something similar will happen to imte-shareholders?



JayDeee - 11 Oct'08 - 19:33 - 691 of 694


Hi All
re the delisitng from AIM, I just emailed the company and they said the following. They are going to try and make an announcement on this as well, so hold tight and don't sell.

"Briefly, members are able to continue to trade their securities in the UK up to 31 October and after normal settlement of those trades the DI and Certificated Registers will be closed and the securities cancelled.
From the Company's principal Register of Members shares will be allotted to the members together with the personal Holder Identification Number
("HIN") which is the key to being able to trade the securities on the Australian Stock Exchange ("ASX").

The UK members may of their own volition transfer their securities to the principal Register of Members ahead of the 31 October close simply by obtaining from Computershare Investor Services PLC in Bristol a 'removal form'. "

There will be no cost to the shareholder for doing this

[double6] 29/10/2008 12:32

Why not just close down company and return £7mln to shareholders ?!?

[greengiant] 29/10/2008 11:36

Mmm If it was that easy - why not spend £200k and buy the company?

gg

[hugepants] 29/10/2008 10:53

why buy a stock that's about to delist?

Why do so many people assume because a stock is about to delist its worthless?

Its absolutely the right thing to do since it saves $2M per annum.

I cant belive how cheap this is now. Its incredible. Market cap is less than £0.2M but it has £7M in cash and £14M in net working capital!

It was profitable in April and May and has new devices to release in February.
They said at the results they have enough cash to last 12 months.

Given its main market is the Middle East are there any companies over there that could buy Imate?

[8trader] 29/10/2008 08:41

Does it matter, your pump and dump with your sidekick digging
was a miserable failure and either of you is man enough to aplogise
for all the shameless ramping !

[andrbea] 29/10/2008 08:40

down 33%

pre-cancellation volatility then...

[andrbea] 29/10/2008 08:38

a buy today
weird
why buy a stock that's about to delist?

up 16%

[andrbea] 27/10/2008 15:07

sector interest

There is not much that can be done for companies who need money to continue operating when there is none available. Banks, investment companies, and venture capitalist streams of income are drying up, except for those who are already positioned for a reasonable rate of return.

For all intents and purposes, niche and small business in the mobile arena are in real danger of going bankrupt and fading from view.

So what can be done in the short term? For companies which have a solid user base and reputation there are some some possibilities:

the company can continue as it is, looking at upcoming products and continuing to trim the fat off of day-to-day operations, awaiting for the economy to ease up;
the company can chose to fold its hand and become an acquisition target for another company who may or may not also be struggling. The combined resources and IP can make for a better chance of profitability for both, and therefore make a better case for credit/funding;
company can move most of its processes to different working models (e.g. service-oriented, open-source development, and consulting) for other companies, and seek those as other areas of profitability;
or the company can simply fade away

[dyfiman] 27/10/2008 14:57

HugePants...... thanks for what I regard as good news. There must be
a chance that, at some stage, Morrison does get an offer. Or that he
manges to get IMTE back on track and seeks a listing once
more. If it takes time for either scenario then I can wait. Dubai
is full of people with masses of moolah and given IMTE being
based there and being known as a company that generated large amounts
money in the past, then buying it for 5-10p a share would represent peanuts.
Shame for those, though, that bought in well above such figures.
Best regards.

[hugepants] 27/10/2008 14:48

No you are still a shareholder whether the company is listed or goes private. If Morrison sells the company for say 5p per share you will still get your 5p per share whether the company is listed or not.

[dyfiman] 27/10/2008 14:08

Doesn't the fact that Morrison is taking IMTE private in a couple of
weeks time play a major part in all this?? According to Barclays
Stockbrokers, in a letter received this morning, the shares may well
end up worthless once IMTE is a private company only. Even if
Morrison had a bid for the company there would be nothing for
anyone holding shares because of the changed status. Glad to hear
any views from you lot out there still holding.
Best regards.

[pelleeds1980] 27/10/2008 13:46

Agreed why bother getting £6 out surely with dealing fees you would make sweet FA...Imate is in my 90% club together with Leadcom and Newport Networks. Im not too good at this share game!