Imaginatik Share Discussion Threads

[dusseldorf] 25/9/2015 22:57

supernumerary - I noted from the company website he's not listed as a founder, but he was happy for the Independent to quote him as a founder (see article), so which is the truth? Either way Rob Terry must have some form of strategy as hes thrown just shy of £600-800k is at this thus far I believe, with no sign of stopping. Perhaps the CEO is not the intended party to swoon

[supernumerary] 25/9/2015 19:15

Dusseldorf - MC is not the founder of Imaginatik. If you look back at how he gained control, you'll see that he's well-versed in the dark arts of fending off intruders. As you say, it could be a bumpy ride.

[dusseldorf] 25/9/2015 17:00

Number of AIM securities in issue......84,698,094 100
Shares held in treasury................0 0
AIM securities not in public hands.....55.51%
Directors' Holdings
Matt Cooper............................22,679,576 26.78
Simon Charles...........................2,403,182 2.84
Shawn Taylor .............................351,852 0.42
Significant Shareholders
Quob Park Estate.......................12,000,000 14.17
Hargreave Hale..........................9,227,618 10.89
Herald Investment Management Ltd........3,558,041 4.20
Cornhill Capital........................2,828,125 3.34
David Gammon............................2,826,961 3.34
Walker Crips............................2,803,390 3.31

45% of equity freely floating is actually quite alot of milage for Quob. I'd assume 30% is the target and then they need Hargreave Hale to vote through normal resolutions.

[dusseldorf] 25/9/2015 16:51

I'm no expert, but I believe any party voting with majority can vote off and replacing directors from the board? Is there anything stopping Terry gaining sufficient equity, and rounding up/buying up other major holders to begin voting out founders etc..?

The net effect of creating a price surge is that it's not cheap for the company to find buyers with sufficient clout to help them sway. Either Terry thinks IMTK is going places and it is just a strategic investment, or the size of the stake will soon become a factor when he owns more than the parties in control of the company.

CEO loaning the company funds is perhaps a strategy to convert into more equity in an attempt to protect equity %'age, but it also plays into the hands of Terry allowing him to accumulate more stock at lower prices.

Interesting nonetheless as the founder seems to be defending his equity position or the need for external funding. Prepare for a bumpy ride.

[juicin drumroll] 24/9/2015 20:22

Quindell ex-boss's stake building leaves tech minnow in the dark
Thursday 24 September 2015

The chairman of Imaginatik has questioned the motives of the former Quindell boss Rob Terry

The chairman of Imaginatik has questioned the motives of the former Quindell boss Rob Terry, who has built a sizeable stake in the AIM-listed tech minnow.

Matt Cooper, who founded and owns 27 per cent of Imaginatik, described the controversial businessman’s 14 per cent stake as “a mystery”.

He told the annual meeting that Mr Terry had not approached management about buying shares. Only when the stock soared from 3p to 5p in a day did they realise he had done so on-market.

Mr Cooper said: “If I wanted to own 20 per cent of Imaginatik I would probably approach the company and say, ‘Hey, you guys are worth 3p. Why don’t you issue shares at 3p?’ rather than bidding up my own price and continuing to buy – that seems odd.

“If I’m Rob Terry and have ulterior motives – I want to use this as a shell, take it over or do whatever with it – I don’t pick this company because it’s got a chairman who owns 27 per cent, it’s tightly held and those people who own it have proven to be deeply supportive.”

Imaginatik, whose technology and consultancy services are used by the likes of Nike and Caterpillar, saw its share price almost treble in June after Mr Terry’s stake in the business became public. He has continued to buy shares in Imaginatik, which has a market value of just over £5m, through his investment vehicle Quob Park Estate.

Mr Cooper said his only contact with Mr Terry was a “mostly uneventful” 45-minute meeting in which Mr Terry explained that he believed there were a number of companies on AIM that were undervalued and claimed Imaginatik was one of them.

Mr Cooper said: “He expressed no particular desire to take the company or to influence the company’s strategy in any direction. And that was that, and I haven’t heard from him since.

“We don’t really have a relationship with Rob Terry despite the suggestions in his tweets that we do.”

Mr Cooper queried the tweets and blog comments from Quob Park Estate, which has been talking up the stock’s prospects and giving price targets as much as three times higher than Imaginatik’s current share price.

He also said the open letter Quob Park had promised on Twitter to send to the Imaginatik board in August, outlining its investment strategy, never arrived. He added: “What seems clear is that there’s no rule against posting whatever you want [online] and letting that manipulate share prices in whatever way it does. It seems weird.”

Quindell, which Mr Terry left last November, is being investigated by the Serious Fraud Office for its accounting practices under his leadership. A decade earlier, Mr Terry was ousted from the insurance claims processor Innovation Group amid questions over its accounting practices.

Imaginatik’s European headquarters are on the fringes of a golf course in Fareham, Hampshire, less than five miles from the head offices of Quindell, Innovation Group and Quob Park.

[dusseldorf] 23/9/2015 10:30

Looks like quob must be buying again:

Quob Park Estate ‏@QuobParkEstate 15m15 minutes ago

QPE is buying IMTK again today our views remain as previously stated

[adammark] 17/9/2015 09:36

From ShareProphets:

....Since its 31st March 2015 year-end the company has announced fundraisings of a gross £0.12 million and £0.5 million, but the results showed a loss of £1.46 million (on revenue of £3.34 million) and current assets totalling £1.79 million (including just £0.13 million of cash) against current liabilities of £2.86 million. Perhaps the track-record since December 2006 listing provides an element of re-assurance?…

2014: Loss of £1.61 million on revenue of £2.90 million
2013: Loss of £1.14 million on revenue of £3.01 million
2012: Loss of £1.37 million on revenue of £3.06 million
2011: Loss of £2.42 million on revenue of £2.85 million
2010: Loss of £1.44 million on revenue of £4.55 million
2009: Loss of £0.10 million on revenue of £4.58 million
2008: Loss of £0.14 million on revenue of £3.16 million
2007: Loss of £1.13 million on revenue of £2.49 million

Er, nope! With its 31st March 2015 results Imaginatik emphasised “On 1 December 2014 Ralph Welborn joined Imaginatik as our Chief Executive Officer who is based in Boston, USA. The board is delighted that Ralph's appointment has had an immediate impact, benefiting both the strategy and direction of the company”. However, the history here suggests he is up against it and that the Terry view that “based on the value of its contracts, intellectual property and financial position, that our 20p+ valuation can easily be justified” is yet more delusion – to me, the above suggests a share price much closer to 0p than 20p can currently 'easily be justified'!

- See more at: hxxp://www.shareprophets.com/views/14680/imaginatik-plc-why-the-latest-from-rob-terry-looks-like-more-delusion#sthash.5y2htWCz.dpuf

[elcapital] 17/9/2015 08:59

RT is a kiss of death. There are many mug punter fools that follow him blindly DESPITE a terrible track record. More fool them. For the record ajnotsobright is one of the blind mug punters, just look at his posting history.

[adammark] 17/9/2015 08:51

The Quob letter is from 31 Aug - I wonder if they see the Directors Loan as a surprise? Also it is interesting to note that there are no institutional investors in IMTK any more. This has become a pure speculation play, driven by RT, with no connection to the underlying business.

[dusseldorf] 17/9/2015 08:18

Ajseabright - well Quob seem to think so:



We can therefore confirm that in the meetings that we have held, both companies have shown a strong willingness to engage with QPE as an investor and as a value-added partner introducing new opportunities to explore.

Key Step for Imaginatik Plc.

In our discussions with Imaginatik, it has been made clear that they do not currently want to raise additional cash, despite our willingness to provide it. Imaginatik clearly plans for its most recent fundraise to be the last needed to support it through to achieving cash-generative, profitable growth.

Of course, this does not preclude the raising of cash for expansion once this goal has been achieved, but it is a fundamental turnaround for the fortunes of this company.

In our view, the possession of sufficient cash to achieve this goal needs to be confirmed as having been met as soon as possible by Imaginatik, or at least justified in our ongoing meetings to enable us to continue to significantly increase our holding at higher share price levels than we have in the past, in support of our 20p+ fair value for Imaginatik Plc.

If it is not, we believe that a fundraise should be conducted and which we would be more than willing to support to ensure that the company are in a position to meet this goal, and that therefore, based on the value of its contracts, intellectual property and financial position, that our 20p+ valuation can easily be justified.

IMTK believe they have sufficient cash, Quob are willing to fund them, but want clarification before investing more money. Yesterdays RNS muddies the waters, but I can see why IMTK want to carry on alone at present to avoid dilution, we shall see £1000 more for me just now.

[ajseabright] 16/9/2015 18:38

Düsseldorf, do you think imtk want RT involved?

[dusseldorf] 16/9/2015 12:47

If you ask me, its probably a shield in that if IMTK attempt some action shortly the loan could be opted for full conversion into equity and shares issued in lieu of repayment. The shares then eligible for voting could help swap a resolution one way or the other - call me cynical

[diamond1] 16/9/2015 11:25

I think there is a bit of an over reaction here. Read the RNS carefully. Matt Cooper's loan is UNSECURED, so he must be confident of getting his money back. Also it's likely to be repaid quite quickly as existing clients pay their bills and new contracts are secured.

No need to panic just yet Mr. Mannering

[adammark] 16/9/2015 08:44

The company has no cash. They spend 400K a month and need to get a loan of 70K from a director? They will definitely need another placing - and probably the share price is way too high given QPE share price ramp talk. No one seems to have looked at the fundamentals of this aging software business...

[elcapital] 16/9/2015 07:30

Wow, that is a very scary RNS.

[ajseabright] 10/9/2015 19:39

All bodes well for us guys!

[dusseldorf] 10/9/2015 12:29

The price was sub 7.5p (dipping to 4p equiv) for circa 2 years...you cannot work out the reasons for someone wanting to sell that quantity as they may have been trying for years for a buyer at that price...

[supernumerary] 10/9/2015 11:54

Mmmm.... 2M shares shown as bought today. Still buying at under 8p when Mr Terry thinks they're worth 20p. Misjudgment by someone, but who, buyer or seller?

[ajseabright] 21/8/2015 20:02

Juice I can understand not wanting to touch a co that RT has some kind of involvement as many have been burnt.I believe RT advised information (not sure what) by the end of August, so as I read it a week today.I am in this to make a profit which I believe in the short term it will, long term who knows.

[juicin drumroll] 21/8/2015 18:37

I wouldn't buy any share RT has any involvement in with your money.

Where's RT's Open Letter?

Wasn't that promised today?

[ajseabright] 21/8/2015 17:01

Yep your bang on the money juice! Perhaps by the end of next week we should see the end of a single figure share price and hello double digits. What's your thoughts? Long term ok I understand your doubts but in the short term?

[juicin drumroll] 21/8/2015 16:01

Still half an hour to go but I'm going to go out on a limb here & say 'no'.

Nice ramp though.

[ajseabright] 20/8/2015 18:50

So RT has been buying this week and continues to buy up to 10p. He also admits there is a real shortage of shares, so can we expect above 10p tomorrow?