Independent Research Share Discussion Threads

[scrapheap] 05/1/2010 06:05

Hello Mr. Smith,

First of all, congratulations with all these initiatives now coming to public launch – good luck and hopefully the markets will be more responsive following the rallies we have seen.

[Shane comments>>] Thanks – we have been having a busy time, as i'm sure you will appreciate.

I've received the papers regarding the company meeting and have a few questions as my concern here is knowing whether my formerly substantial shareholding (for me) is at risk of being diluted for a potentially nominal amount. [Shane comments>>] see (2) below

My questions are:

1. Can you confirm if the party involved is unrelated to directors on the board?[Shane comments>>] We have been talking with a number of parties, all unrelated to the board and company.

2. What the likely assumed price range might be for the shares being issued if such a stake is purchased? [Shane comments>>] I'd prefer not to get too specific at this stage however the expected dilution though material, would not be significant. If we achieve the deal we are targeting, I believe that shareholders will find it a satisfactory outcome.

3. How many parties are being talked to and did they approach IIR or did we approach them?[Shane comments>>] The original conversations arose out of dialogue initiated for other, conventional business, reasons. However we are now initiating an additional, more structured, range of conversations so that our eggs are not left in too few baskets!

4. How are you ensuring these investment talks aren't distracting too much management time from the core business development which you have previously explained has been a problem?[Shane comments>>] We think we are balancing the competing pressures on management time effectively.

5. Would these talks failing put the company at risk of imminent failure?[Shane comments>>] As in the past, if the company were to face funding problems we would take the necessary actions to make sure the very promising product line that we have built is given a chance to gain traction and generate revenues, for the benefit of all shareholders.

[rob67] 04/1/2010 09:51

20p currently values us at around £5.30mil which i hope is way under what the company is really worth!

[scrapheap] 03/1/2010 21:23

Happy New Year fellow IIR followers.

SS has emailed back y'day apologising for the slow response to my email Q's of December 10th and with reassuring answers to all of them!

I'll just check he's ok (as usual) to post up here but bottom line is I'm much happier that my big holding isn't likely to be diluted to diddly squat for diddly squat....

[rob67] 15/12/2009 18:18

Yes no problem but only when we re list! So maybe ask when that may be on the agenda again !

[scrapheap] 10/12/2009 12:12

I may be able to - will see nearer the time.

[rob67] 10/12/2009 11:06

I see we got a mention on the Integrity Research Blog. Pasted below

Irideus.orgCoverage of small and mid cap companies in major stock markets around the world has often been somewhat lacking. Shane Smith, the CEO of Independent International Investment Research PLC (IIIR) has estimated that "25,000 public companies listed on 27 key stock exchanges around the world, lack research."

Irideus.org is a new service hoping to provide a global solution for small and mid cap companies' research coverage issues. Enacting a similar structure to that seen in the PSQ Analytics service launched on the London Stock Exchange in March of this year, Irideus will combine the five research providers across the globe to provide unbiased research on firms traditionally uncovered by sell-side equity research analysts. Irideus.org believes that the recent attempts by a number of exchanges represent good progress in getting coverage for a wider range of companies. However, Irideus feels that the research provided by different exchanges is too fragmented and difficult to compare to be of use to global investors.

Irideus.org is made up of Aranca, a Mumbai-based research provider; Argus Research Company, a New York City provider; Copal, an Indian based firm; IIIR, a London based research company; and Zacks, a U.S. firm.

Of course, many of the same issues Integrity wrote about when PSQ was launched are still relevant today. Despite the random assignment of research providers to companies requesting coverage, there is still the risk that too many negative reports could hurt future business and thus there is the same motivation to provide positive reports as is present in paid-for research, although in a smaller scale. The fact that similar services such as the IRN (Independent Research Network), Bright Meridian, and the National Research Exchange all failed is another factor to keep in mind.

Irideus.org's global scope is encouraging and the potential it has to become a large provider of independent research is exciting. The press release is copied below.

[fatso] 10/12/2009 10:01

My break even point is 20p a share but I would accept
lower entry point for newcoming muscle if we could return
to the market soon, by now much invigorated in our lean period.
Hopefully the market would value us much higher then-at 50 p per share?

[fatfish] 10/12/2009 09:49

reads well, lets hope it does well.

[fatso] 10/12/2009 09:46

Mr Smith has acted honorably in the past. Vide Google settlement,
which he returned to the Company.

[james 2] 10/12/2009 09:23

Press release on rovr added to the website ;

[james 2] 10/12/2009 09:20

That would be a kick in the balls I admit, would go against the grain though + 50k aint going to inject much cash into the business.

They could have simply maintained ownership of the IP if they wanted the entire cake, rather than get it back into the company to make it attractive to outside investment ? Remember the trust wont make jack either if the company doesnt suceed and presumably as a core shareholder like us small fry will want to exit at some point ?

All imo & often proved wrong.

[scrapheap] 10/12/2009 08:47

james - unless the trust is the party and buys them for 50k... then we are diluted to nothing.

[rob67] 10/12/2009 08:20

Point Taken

[james 2] 10/12/2009 08:13

The trust arnt going to dilute themselves for pittance imo after years of work & pouring cash & SS sweat into this co - why would they ? I'm pretty sure they arnt a charitable trust at least.

rob - I screwed the header and half disappeared, if they issue shares > 20p then I will fill it again, deal ?

[scrapheap] 10/12/2009 00:37

what do you mean Rob re the big money - nominal share value is irrelevant.

The key part is what price or value is placed on nearly doubling the number of shares in issue when/if they are sold to someone.

If its say sold for 50 grand, then that means the current 26m shares are worth little more and we've got wiped out with our investment. The flip side applies if they go for say 500 grand.

The price these shares are allocated for and to whom is crucial.

[fatso] 09/12/2009 23:47

I have signed the proxy form.
Admittedly it is a theft of 85% of our Co but since its worth,
in all practical terms, was zero, then it is a progress.
Perhaps, with the muscle added, we may be able to return to the market
and then take our fate into our own hands.

[rob67] 09/12/2009 18:24

James re the header

a bit better i suppose!!

[rob67] 09/12/2009 18:23

Its a start but hardly "big" money is it?

26m shares x85%= 22m x 1p = £220000

[scrapheap] 09/12/2009 17:22

Had my letter.

1. Meeting is 10am on 6/1/2010 at their offices.
2. There is one party potentially involved.
3. The authority sought is for 85% of the issued share capital or £220,000 nominal value!!