Image Scan Share Discussion Threads

[mudbath] 05/3/2014 08:59

longsight.
The sector includes SDI where I have drawn comparisons with KMK yet stands at less than 10% of the MC.It crossed my mind that IGE could be of interest to Scientific Digital,although this was only speculation on my part.
Sorry to intrude on the interesting situation that is developing here.

[longsight] 05/3/2014 07:42

PETERB

thank you. Very much appreciate your response.

[peterblok] 05/3/2014 00:18

longsight, I have been invested here for many years and unfortunately average out at 16p. I keep in touch through the Bulletin Board and attending occasional AGMs (unfortunately not the one yesterday), and I have no answer as to why the company is not as successful as it should have been - nor I believe do most of my fellow investors.

It is obvious that something(s)hasn't been working, in spite of the fact that we seem to have some very good innovative products. I am hopeful that a change of management together with more secure financial backing may enable IGE to turn the corner and start to make decent profits over the next couple of years.

In any case, I feel you would be unwise to invest until more news is forthcoming as to who will be running the company from now on, and what changes are proposed.

DYOR, etc.

PB

[longsight] 04/3/2014 21:20

Erogenous

I don't have an agenda at all. Simply put I'm snowed under at the moment with work so I'm just trying to get some insight which might then justify me putting in the hard yards & reading up properly on the Co. Opportunity cost & all that. I tend to read up big time if I decide to research & I have a backlog at present of Cos I am intending to research.

Why am I interested? I hold KMK which is also involved in similar areas [no ramp intended].

Since I haven't researched IGE yet, I have no view at all either way though at first glance it looks very lo m cap given the size of the markets it is involved in. I also tend to assume that Cos which survive years of attrition at the least have some useful survival skills.

Since a number of posters here have refused to throw in the towel, I guess they must have some story about how the Co might become profitable. Be keen to get some feedback

[dan de lion] 04/3/2014 20:22

Stockonomist is a serial deramper who appears to get off on going on threads and trying to upset the regulars by coming up with subtle and not so subtle de-ramps also has several alter ego`s, his darling share is CCE which he has been (unsuccessfuly)trying to ramp up.

[longsight] 04/3/2014 20:10

PETERBLOK

I know I'm being lazy but do they have competitive products / services? If so why is the business not happening?

My motive is I might be interested in investing [I'm in KMK & like the sector]

[peterblok] 04/3/2014 18:20

hvs - get a life and go and annoy someone else!

It seems logical that the shareholders who voted off LG and risked losing Messrs Emslie and Fox, would not only have a valid reason, but an alternative plan - and certainly their own ideas for a more effective CEO.

Assegai who, being by far the largest private shareholder must have been involved and almost certainly a part of the process at the AGM, otherwise he would have posted. Incidentally, he was also a leading light in a similar shareholders revolt at TRT which resulted in a completely new BoD thus definitely saving the company from going under and (eventually) a bright future.

I am sure there will be further news soon, as existing and potential customers will need to be reassured, and this news will no doubt include a refinancing package. Assegai will not let his shareholding vanish without a hell of a fight, and I will be holding onto my modest 1/2m shareholding.

Good luck all,

PB

[philjeans] 04/3/2014 17:19

Stocko and HVS obviously very keen to get in here - at a cheaper price!

Typical de-ramper exercise I have seen many times before. Drive the price down with made-up scare stories and frighten nervous nellies to sell. Then BUY on the dip.

This is NOT going out of business any time soon IMHO- no debt and an unused o/d facility of £100k; the larger investors here want a proper return on their long-suffering investment.

Corporate action coming - hold on. DYOR. NAI

[stockonomist] 04/3/2014 16:33

They will have to pull something out the bag given that it's toast otherwise

[philjeans] 04/3/2014 15:59

I/P, patents, tax losses, WIP, F & F, debtors and stock worth far more than the M/C of £1.5M.

A snip for a tech business wanting an AIM quote.

Watch this space...............

[mega_trader] 04/3/2014 15:06

So no fund raise BUT no cash (£11k!) to carry on.

Nav is about 1.25p

4 Years, and the best they ever did was get lucky and break even!

[dan de lion] 04/3/2014 13:12

6 To authorise the directors to allot new ordinary shares
7* To disapply pre-emption rights

[mega_trader] 04/3/2014 13:00

What were resolutions 6 and 7?

[stockonomist] 04/3/2014 12:39

This parasite has been around for a while

[mega_trader] 04/3/2014 12:28

Its flatpack at best stocko. They have failed to deliver, ran out of cash.

What were resolutions 6 and 7?

[stockonomist] 04/3/2014 10:25

Looks like being prepared as a kitchen sink/rescue rights issue deal

[lfc4ever] 04/3/2014 10:21

there is no real money here though, is there- it is not as if it is a viable cash shell?

[cliffpeat] 04/3/2014 10:16

Followed IGE for 7 years and though LG has "cleaned up" the company for a disposal (IMO), it has never seemed to have a strong commercial presence on the board. The product developments always seem to be a "guess" rather than addressing an identified and closely targeted and researched market sector and need.

The company web site shows:
Shareholder Profile
Holders %
Rise Step International Development Ltd 26.05%
David Allenby 10.04%
Calculus Capital 7.30%
Fred Stirling 4.94%
Directors 3.92%

This information was updated on 20 January 2014..

Rise Step:
subscribed to a placing in June 2011 - "Rise Step International Development Limited Rise Step is a Hong Kong resident limited liability investment company whose sole director is Lu Qing. The Board understands that Rise Step believes there are opportunities for the Company's products in Asia and the Far East and wishes to invest in the Company to provide the focus for both reducing the cost of key components through overseas sourcing and for opening up routes to market in the region. The Board believes that the investment not only offers Image Scan necessary working capital but will also enable the Company to compete more effectively in the increasingly competitive security sector. This investment is critical if the Company is to secure its future. "

David Malcolm Allenby:
worked in companies HOME FARM ESTATES LIMITED, HOME FARM PROPERTIES LIMITED, TELEFLORIST LIMITED, TELEFLOR INTERNATIONAL LIMITED, EFLORIST LIMITED, FLORAL ESSENTIAL LIMITED, SIMPLE BRAND COMMUNICATION LIMITED as Chief executive, Company director.
hxxp://www.companydirectorcheck.com/david-malcolm-allenby-2

Long term holder who has added over the years:
hxxp://www.investorease.com/company.php?disp=major&epic=IGE&holder=David%20Malcolm%20Allenby

Unless there are any undervalued assets or untapped opportunities, I would expect the company to pivot and pursue other activities (though possibly related if they want to take advantage of the tax losses).

[philjeans] 04/3/2014 09:20

Assagai - can you give us the "heads up" here I wonder?