Intercede Share Discussion Threads

[237gmoney] 20/2/2008 09:02

Gosh you have been busy this morning igoe.....all good finds, nice to see IGP keeping the newsflow going and building on current relationships....

The slovenian health card looks a real possibility.....and the UK airports ID Card is right up IGP's street....hopefully we get that one!

[igoe104] 20/2/2008 08:53

Gemalto tapped for Slovenian health project
Tuesday, February 19 2008
Gemalto is providing smart cards to Slovenia for the country's electronic health project. This new health card is the first in Europe to feature a Java public key infrastructure that will secure the online health system via a digital signature for health professionals.

Cetis, a Slovenian secure document printer, will operate the personalization of the cards and the PKI infrastructure. ZZZS, the Health Insurance Institute of Slovenia, is in charge of the National Health Insurance Card System, and will act as system integrator and will issue the cards to the citizens. Gemalto will provide its Coesys Issuance solution to Slovenia that consists of middleware, digital signature capabilities, software applications, applets and cards.


The latest generation of cards for Slovenia will enhance online services for health professionals by enabling them to go through their administrative tasks faster and exchange medical data and messages with hospitals and other health professionals in an easy and secure manner. The whole solution ensures backward compatibility with the existing infrastructure.

In 2000, Slovenia was among the very first countries, with France, to introduce smart card-based health cards. The country is now renewing and upgrading the 2 million e-health cards currently in circulation in the country.

[igoe104] 20/2/2008 08:45

Intercede and CoreStreet Announce Full Integration of MyID and CoreStreet PIVMAN Solutions

Leaders in identity management and credential validation industries team to enable mobile authentication at major public venues and events.

Leicestershire, England/Cambridge, MA (PRWEB) February 20, 2008 -- Intercede Group plc, a leading developer and supplier of smart card and identity credential management software, and CoreStreet, the leader in credential validation solutions, today announced the integration of Intercede's MyID with the CoreStreet PIVMAN solution. This integration allows customers to more easily implement an identity verification and security solution for major events such as sporting championships and political conventions, as well as for disaster management by the First Responder community.

Intercede's MyID is a smart card and identity credential management system that enables organizations to enroll, issue and manage the lifecycle of smart cards, USB authentication devices, PKI certificates, biometrics and other identity credentials.

The CoreStreet PIVMAN solution consists of software for handheld devices designed to allow authorized personnel the ability to control access to any site with confidence by quickly authenticating and validating the roles and identities of individuals wishing to enter an area.

The integration of MyID and CoreStreet PIVMAN provides an easy-to-install, configure and operate solution for end-to-end identity enrolment, vetting, issuance and lifecycle management, as well as operational authentication and validation of credentials. The solution components have been successfully used to issue and validate credentials at several First Responder exercises and a key NATO conference.

"Being able to quickly and reliably validate credentials at major events where security is a high-priority is critical - particularly when there are thousands of people that need access inside the perimeter," said Richard Parris, CEO, Intercede. "The decision to more closely integrate Intercede's and CoreStreet's identity and credential management systems was a natural choice given our successful collaboration on ID projects for high profile events. The depth and comprehensiveness of this joint solution redefines the competitive landscape for customers and integrators of large scale credentialing projects."

By fully integrating their products, both companies increase speed in development of robust products and solutions, reduce risk by leveraging solid technical frameworks for identity and attribute management, and gain new complementary functionality. This integration of complementary products provides customers in government and event management, as well as in the financial, critical infrastructure and bio-pharma sectors, with a secure and flexible enterprise-wide identity solution.

"This integration of Intercede and CoreStreet products provides for a smart card-based identity solution that will allow customers to immediately verify the identities of individuals, check their competencies and provide access control anywhere at venues," said Chris Broderick, CEO, CoreStreet. "CoreStreet and Intercede have successfully worked jointly on a number of critical programs and we look forward to expanding the relationship."

About Intercede:
Intercede Group plc is a leading developer and supplier of smart card and identity management software listed on the London Stock Exchange (IGP LN) (IGP.L). Intercede's MyID software manages the secure registration, issuance and lifecycle of digital identities for a wide range of uses. This requires the integration of multiple technologies and products from many different vendors, including smart cards, biometrics, digital certificates, Open Platform applets and physical access control systems.

Intercede works with a number of market leading OEM, re-seller and technology partners that supply MyID technology to the global market place including: Athena Smartcard Solutions, Gemalto, Oberthur Card Systems, Oracle, RSA Security, SafeNet, Thales, VeriSign and a variety of systems integrators and other security product and service providers.
Intercede and MyID are registered trademarks or trademarks in the UK, US and/or other countries.

For more information on Intercede and MyID visit

About CoreStreet:
Every day, the world's most demanding government and commercial enterprises rely on CoreStreet technology to authorize critical events, ranging from signed communications and transactions to physical access. More information, including technical whitepapers, industry solution studies and a list of the patents awarded to the company, is available at www.corestreet.com.

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[aphrodites] 19/2/2008 16:16

Taurus

Please read my post 2414 you will then also find I bought shares at around 26p recently.

As for spikes I see 40p as the recent spike not 33p. I am patient and can wait to see if they pull the price back further. My broker knows what I want and if the size appears I will decide then if I want the stock.

And quite honestly I do not see this as a bear market. I see it as a market where there are some first class buying oportunities. In your words I am buying disillusionment not only in IGP but a number of other stocks especially the banks recently. Lloyds on a 10% yield was a real turn-up for the books as was M & S at 386p and Barclays at £4.30p.

I do not find you rude but I am not sure why you are out to score points. For someone who is very well versed in what is going on in IGP and who I hold in high regard you do not do yourself any credit with posts like those today.

Accumulator. Done!

[accumulat0r] 19/2/2008 15:39

APHRODITES, It was I that asked if anyone had details of the Peel Hunt note. So many thanks for your précis.

[felix99] 19/2/2008 15:29

either way as you say - you just have to buy in small parcels . If you leave an order in for 100k even if there is a seller around he/ she will want top price cos you are a keen buyer

[taurusthebear] 19/2/2008 14:08

Aphro - I don't have a crystal ball, but I also don't buy spikes in a bear market. Still, you bought one at 62p, so I guess you're accustomed to the practise.

Not meant to be rude, but I find a better way to make (more) money is to be pre-active rather than reactive. That is, buy disillusionment rather than exuberance. That's not backward-looking because most people would have said, last week, that 26p was closer to the bottom than 33p... :0)

[aphrodites] 19/2/2008 13:54

Taurus

Last week was last week. Time moves on and one should never job backwards and look at what one could or should have done. You might have a crystal ball but many of us don't.

Also my broker has firm instructions to bid and report deals to me before acting in anything over 10,000 shares.

No tails around here.

Must fly, off to a meeting now.

[taurusthebear] 19/2/2008 13:30

Buy 10k a day at 33p, commission charges are minimal, and if your purchase(s) drive(s) the price up, c'est la vie. Can't understand all these people suddenly trying to get a wad-load at 33p when they were available for 26p last week. Tail wagging the dog? :0)

[aphrodites] 19/2/2008 13:18

Felix99

Very interesting as I have been bidding 33p for 100k and have not even been tested.

Somone asked if anyone had details of the Peel Hunt note. I have tried to precis below the comment in the note which was sent me by a colleague. The comment at the end is my own view.

Just for the record I understand Andrew Darley of KB Peel Hunt circulated a note on 14 February which essentially said IGP had reported very encouraging updates. This involves new contracts and upgrades the validity of its forecasts where in the past it has been difficult to assess. When you combine the value of existing and the new contracts they have announced it amounts to a multiple of several times of the present revenue. As ever much depends on when the customers decide upon the rollouts. The company has said it believes the current year revenue to March 08 will exceed revenue for the previous year while at the same time costs will be tightly managed.

Darley factors in on the three major US projects powered by IGP's "MyID" and draws attention to the 1.3m potential cards that might be issued. He states 1.1m should be in the current trading year. He also draws attention to the leading German manufacturer, a UK Government project, a US Fed government customer and a European telecoms provider for health care. These will all involve more card rollouts over the next 1-3 years.

He draws attention to the need to remember that these contracts deliver revenues over protracted periods, with card rollouts, as opposed to immediate software licence recognition on contract signing. The building number of active projects should provide investors with increased confidence in reaching the £3.2 revenues which Peel Hunt estimated to March 08. This should take the company to breakeven in P/L and cashflow terms.

He also reminds that President Bush's record breaking €3 trillion budget involved an 11% increase in Homeland Security expenditure, a niche where IGP sits comfortably with its involvement in many Federal Agency secure ID card rollouts albeit that individual government department budgets have been tightened.

The major part of this review is the breakeven comment. It also provides the potential to make a small profit which would be attractive to many new investors. However, the more one looks at this company the more one realizes that its future does not lie in remaining independent. I still believe its days as IGP are numbered and it will sit more comfortably within a business which also provides the software licence.

[felix99] 19/2/2008 13:00

my experience has found if they are offering 15k on line even - they will have 30k to shift - they assume they will get hit twice by someone buying. So I think there is a line of stock to clear - who do you use that you couldnt; get a decent slug ?

Seems to be 10k either way at moment 32.25/33.4

[237gmoney] 19/2/2008 12:05

Im not saying your lying Felix but I find it hard to believe you could get 50k @ 33.45 at the moment and 15k seems more realistic....maybe this was just a blip in the system???? It happens, there's no way the MM's would carry through with that much stock here at such a low price...they may be able to work it through over time but not as a one off trade after last weeks news....If you do get it good luck to you....but with a 50k buy the price will jump 5p if more pressure is added afterwards...

[felix99] 19/2/2008 11:05

Aphrodites - if MM's were playing games they are strange ones. I was offered 50k on line at 33.45 this am with selftrade.

The only thing I would say is it got cut to 15k after I tested - perhaps soemone has bought a chunk

[237gmoney] 19/2/2008 09:10

Another possible for Gemalto and IGP...



Would be a bigger contract than the German Health card and Gemalto already have the Yeman ID Card.....which is not far away

[237gmoney] 19/2/2008 08:58

Your up early aphrodites!! thanks for the note. Hopefully the company increase the news offering over the next 6 months. One item a month is not much to ask, or even an update every quarter as well as the regular results RNS. Giving us an update with 4 contract wins wil not have the long term effect on the share price as having 4 separate news releases. Spreading them out will keep IGP in the headlines for longer attracting more investors as time goes buy....being top of the leader board one day then falling down the next does not make for good reading. The compnay PR has never been great but it needs to improve if more serious investors are to wake to the IGP way of thinking.....Hopefully we will be back to 70p by the end of H1 2008/9 as thats the least I expect...

[aphrodites] 19/2/2008 06:08

237gmoney

For what it is worth I am told that a certain market maker is either buying stock for its own book or for a client.

After the announcement, once the buying ran out of steam the MM deliberately pulled the price back. It is an old trick and one which normally works well when there is good liquidity in a share. But as you will have seen there has hardly been any selling and so far no bullish comment by the tip sheets. But we are still only a week after the announcement.

The MM will try and give the impression that Hargreave Hale is still a seller of the stock it bought at 32p in the placement but I am reliably informed this is not the case. The problem as I wrote back on 14 January, if HH did not enter the market to buy stock then we would re-test the 22/24p level, which duly happened. I bought some stock in the 26p area but it was only small and difficult to get hold of.

This is the problem when as a company you raise what appears are cheap funds by letting an institution take a stake and then that institution starts to let stock go in the market. This is especially prevalent in a stock like IGP where 5,000 shares can see the price rise or fall 5p! And of course the institution will always have an excuse like, "we found this was too large a percentage of our fund and after recent withdrawals and had to sell!!!!" Or, "we have a new fund manager who does not like the share". In the UK at the present time we seem to have a prevalence of short-term institutional investors and our system has been severely criticised when compared with the US where risk capital is much easier to raise and institutions stay on for the ride.

I know I have been very critical of the way in which IGP raised the funds in the placement with HH and I shall not bore you with my concerns again. I believe the Finance Director is now more aware of the short comings of this sort of deal and will be more guarded in future if approached with similar offers. Having said that, it would be helpful if we had some more institutions on board and that requires more liquidity in the market. But not I hope supported by further placements at 30% discounts!!!!!! Why not let the current shareholders have a go?

When it hit 37p it touched the 200 moving day average and there was no follow through. But last week's announcement was excellent news and the price should now climb back to somewhere in the mid 50's which is where it first broke this average. Also, on the Elliott Wave principle we have tested the bottom and bounced and have now seen a very positive first leg upwards. I always let the fundamentals dictate my decisions not the charts. Last week's news is as good a buy signal as we could wish to see and the charts support this view. I have been trying without success to buy stock around this level and have been told there is someone else in there ahead of me.

I would like to chase the share price but this needs more than one active buyer who is prepared to bid up to buy size. No sign of that yet but it is early days and 34p is very, very cheap!

[237gmoney] 18/2/2008 14:18

Its funny how were back to the placing price again, it seems we just cant get away from, like a sick game the MM's play to have a bit of fun....

[howdy do da] 18/2/2008 12:47

Am in for the long run too. Will be driven higher at next annual report when the management put more meat on the bone with regards to earnings guidance.

[boadicea] 18/2/2008 11:11

We seem to have settled back at the level before the big dip, in spite of the prospects looking better than when we were at 50p (not to mention 70p.)
That's the way of the market now - just a case of having patience imho.

[wjccghcc] 17/2/2008 18:24

£3.2mm would be impressive and more than I was expecting. H1 was 1.55mm but 500k of that was the Thales advance payment. In effect underlying revenue from cards issued would have increased from 1.05mm in H1 to 1.6mm in H2. And that includes no contribution from TWIC.

Carly, £5 sounds high unless it's a very complex project (e.g. the NATO summit last year). For TWIC and the NHS, I'd guess £1-2 per card while if the UK contract is the ID card, then I suspect price will vary with the amount of cards issued but if we all get issued one, I'd estimate you're in the 20-40p range. Annual maintenance revenue should be about 20% of the card cost.

[accumulat0r] 17/2/2008 14:40

It would seem that KBC Peel Hunt issued a note after last week's trading update. Anyone got a copy?

ArmShare updated their report on 14 Feb:

" ...... The February 2008 update reported that since the December 2007 interim results announcement, new contracts have been won, and progress has been made on several projects in which Intercede's MyID technology has been selected - the combined value of these projects and other existing projects is several times the current annual sales run rate.

Research Standing

As a small UK company, the winning of high level contracts in the US is testament to the quality of its offering. Achieving gross margins of over 90% combined with using channel partners (note also the quality of these) is an attractive model - well worth following.

The company broker's note dated 14th February projects for 2007/8 sales of £3.2 million (2007: £2.6 million) and breakeven (2007: £439,000 loss)."

[carly2] 16/2/2008 16:39

Well done managerment and all 'igpers'. Good that we've got good news on contracts. WJ, igoe etc -in terms of quantifying the value of these various contracts, have you done any back of the envelope calculations? Would you say that the Banking and defense customers contracts are going to be around £5 per card - with maintenance on top?
And when they talk of the 'high volume health care project', is it that igp will have that high volume contract in totality - or that they have been selected by one partner in a field of many competitors. If they are to only get a small piece of the overall contract cake, I would say the trading update was overegging it slightly (which is certainly not like the management - they are highly conservative - good for them). Best wishes all

[spooky] 15/2/2008 13:01

That's what happens with small company shares in any market,particularly after a 50% rise.The current market almost guarantees that you will have some profit taking.

[igoe104] 15/2/2008 12:37

Disappointing to see someone selling up straight away.