Intercede Share Discussion Threads

[hybrasil] 08/12/2009 10:12

Good point interceptor. Its now 10 .10 and £2k worth of shares have traded. I too have bought at much lower levels.

[interceptor2] 08/12/2009 09:15

Hybrasil

Normally I would agree with you, and wouldn't buy into a company that has ongoing litigation. But I believe most investors posting here had brought in at much lower levels, and can afford to let these run with a generous s/l.

It,s worth remembering that when Actividentity filed on 1st October 2008 that IGP stood at 23p, they have increased over 100% even with the litigation hanging over them.

So it's not just the shareholders that have an optimistic view of how the case is progressing.

[hybrasil] 08/12/2009 08:34

Every time I read anything here I look at actividentity.
The reality is that when the uncertainty surrounding that litigation is over that investors will flock back here.
However why as a shareholder take on the risk of litigation which can often be to say the least uncertain.I always advise people against buying into litigation.
That is why despite this mornings excellent trading results that there has been so little activity.

[interceptor2] 08/12/2009 08:11

Importantly the market also likes the results marking them up 3p on open.

We just need some good news with the court case to remove the remaining uncertainty. With the £579,000 exceptional charge to defend itself, I would hope there would be some way of recovering this if/when IGP win.

[rivaldo] 08/12/2009 07:49

Yep, excellent results, outlook, Balance Sheet - and company.

If you strip out the patent costs then the core EPS for H1 is around 1.5p, so IGP is still not a bargain on fundamentals, even if you also strip out the £4m cash pile. But its recurring income and strong global prospects - and that cash pile - should justify a higher rating than most stocks.

[glasshalfull] 08/12/2009 07:26

...and importantly a strong outlook statement.

Certainly appear to be gaining strong momentum with Actividentity apparent spoiling tactics the only fly in the ointment.

Regards,
GHF

[fft] 08/12/2009 07:12

stonking results, apart from the 579,000 in legal costs to defend the patent. With nearly 4m in cash, IGP have certainly got the resources to take this through to the end.

Very nice to read that IGP are now no 1 in the industry (based on contract wins).

[interceptor2] 06/12/2009 16:39

I may have been a little optimistic in the use of the Groups unrecognised deferred tax assets of GBP702,000, but would imagine that finance cost should be much reduced now, if any at all.

I also worked from revenue figure of £2,773m using the 40% increase.

Lets hope we are all pleasantly surprised, with more importantly another bullish statement.

[glasshalfull] 06/12/2009 13:13

I'm not too far away from your forecasts WJ.

I looked back on my notes following October's trading update.
Also pencilled in £2.8m given the 40% increase in turnover that was flagged.
I've forecast op profits at 550k which is approximately double that of £268k made during last year's interims. Like yourself I anticpate some lag, while I've given consideration to operational gearing kicking in.

Kind regards,
GHF

[wjccghcc] 06/12/2009 11:53

Not sure it will be that high interceptor2. Operating costs in H2 last year were 2.5mm as they recruited new people to handle the increased workload. A slug of that would be temporary external contractor costs for the exceptional project implementation in H2 but the nature of the business is that once contracts are won, they need to recruit good people ahead of the build up in revenues.

With H1 revenues of 2.8mm, I'd be pleased with op profit of 400-500k.

[interceptor2] 06/12/2009 11:00

Important week ahead with Interims on Wednesday and the court case on Thursday, this could prove a pivotal week.

Igp have come along way this year, with contract wins increasing very nicely, and the company board very excited about future prospect looking at the bullish tones of the June Final statement and trading update in October.

In June they navigated the hurdle of loan note conversion, and now have a very healthy cash balance. The final hurdle is of course the court case with actividentity, recent news looks promising here also.

Interims - Would expect to see PBIT figure of £800,000 at least............

[igoe104] 06/12/2009 10:52

Hopefully more positive news from australia on the way.

[aphrodites] 01/12/2009 15:44

The strength of any company involved in development technology lies within its balance sheet and the capability to show that it has the wherewithall either to take legal action or to defend itself against legal action.

IGP is better placed now than at any time in previous years to be defend itself against a costly Court case. But I would put money on Actividentity not being aware of this if they looked at their previous balance sheets

We should not close our eyes to the fact that this could be very expensive indeed if IGP lose the battle. If they win the share price could jump 10p. But we will have a long wait unless Activ resign at the next hearing.

[pyman] 01/12/2009 10:12

not fair really ,is it? It means them with deep pockets are at a large advantage.

[rambutan2] 01/12/2009 02:07

hybrasil, you are correct re costs...

The law of costs, as it applies in England and Wales, is often known as the English rule. The situation contrasts with that in the U.S. where legal fees may be sought only if the parties agree by contract before the litigation, or if some special act or statute allows the successful party to seek such fees, the American rule. Federal district court and Court of Appeals judges award costs to the prevailing party under Federal Rules of Civil Procedure 54.[1] Generally, state court judges have no common law right to award such fees against the losing party. It has been suggested that the American rule contributes to making the U.S. a litigious society. Individuals have little to lose beyond filing fees and a retainer to start a lawsuit, and they are not at risk of having to pay their opponent's fees if they lose.

[237gmoney] 30/11/2009 12:26

ID cards go on sale in Manchester

[hybrasil] 30/11/2009 09:33

My understanding is that in the us costs are not awarded to a successful litigant. Maybe I am wrong but if I am right this will be a very expensive exercise. I fully accept there is nothing the co can do about it. Now if damages were to be awarded on the counterclaim that would be another matter.

[igoe104] 29/11/2009 19:25

I wouldnt like to be in Actividentity shoes, it could cost them alot.



Failure to Disclose Patent to Standard Setting Organization Can Be Monopolization
In Actividentity Corp. v. Intercede Group PLC et al., Northern District of California Judge Vaugh R. Walker has refused to dismiss smart card maker Intercede Ltd.'s allegations that rival Actividentity Corp. monopolized the relevant market by failing to disclose to a standards-setting organization a patent covering technology for remotely updating the devices. The court held that Intercede sufficiently pled its antitrust claims, by alleging that 1) Actividentity created a monopoly by failing to disclose a patent to GlobalPlatform Inc., which created a "patent holdup," whereby GlobalPlatform unknowingly set standards that incorporated Actividentity's patented technology; and 2) such control of a patent has the ability to achieve monopoly power and either exclude competition or extract unwarranted monopoly profits from all competitors in the industry in violation of Section 2 of the Sherman Act.

[pyman] 27/11/2009 14:39

$75million cash on their balance sheet says IGP will recover costs. I think if they loose they ll need to buy someone fast or get bought .

[felix99] 27/11/2009 12:27

they won;t settle - as far as I can see its their last throw of the dice to protect a failing business. If they win they buy time to go on . If they lose they won;t care about costs as they may well go bump anyway.

Hopefully in US IGP can force them to pay sums into Court as Security for costs so they can protect themselves should they go down - as one can do in UK.

[pyman] 27/11/2009 11:05

Thanks Igoe. I ve been trying to get a look at that for ages. I wonder if there are other s in the idustry who will be affected by the outcome and have a vested interest in seeing IGP win. I am no lawyer but it aslo strikes me that Atv'id are running a risky game -if they are found to be fraudulent.My guess is they have a lot to loose and if it starts going sour they will settle fast.

[interceptor2] 26/11/2009 13:41

Yes thanks for posing igoe

I took the plunge and read the statements through, and after reading the document it does gives me a better understanding and confidence that IGP have a strong counter argument. Lets hope this is settled soon, I would hope if the next hearing goes more IGPs way that Actividentity may decide to withdraw the allegations.

[wjccghcc] 26/11/2009 13:04

Interesting.

Basically IGP's counterclaims for patent ambush and monopolization can go forward and the dismissed ones for fraud can be resubmitted.

Good find igoe.

[igoe104] 26/11/2009 12:40

Full file up-date on the last court visit.

[igoe104] 25/11/2009 16:21

Cant blame anyone from wanting to top up. i only see this company getting bigger and bigger, igp technology is becoming more global and there is going to more of a need for it over the coming years, with the continued worldwide threat of terrorism.