Intercede Share Discussion Threads

[wjccghcc] 22/2/2006 16:26

Ok, will be interested to see your findings.

[garth] 22/2/2006 16:08

WJ,

That was my impression too - until this afternoon. It seems that eCEBS Multefile software has been used in the MULTOS ICAO contactless biometric e-passport solution (documentation on the MULTOS website). What I can't work out is whether that is a MULTOS infrastructure solution or just one of a number of possible solutions:





They have demonstrated a complete ICAO solution in partnership with Precise Biometrics:


Still digging......

G.

[wjccghcc] 22/2/2006 15:52

Thanks Garth. I had a quick look but they're not for me at the moment. They seem to be more of a one stop ID/smart card shop whose client base is primarily scottish as opposed to a global leader like IGP (yet the valuations aren't that dissimilar). Gonna wait for some numbers I think.

Good luck with them though.

[garth] 22/2/2006 14:09

We had some discussion of SMRT a couple of weeks ago. The lack of information led me to do some initial digging.

I have tried to work out what the similiarities & differences might be between IGP's MyID & SMRT's Multefile. I don't think they are competing products but would appreciate some informed comment if anyone has time and is so inclined.

As yet I haven't contacted AST themselves but I have put together a thread with links to relevant websites. They recently won a research contract with the Royal Bank of Scotland.

The really interesting bit though seems to be their provision of the key component for ITSO - a multi-agency standard for Smart Card applications within transportation. On the new thread there is a link to a list of members of ITSO. There are some major transportation players there....

[wjccghcc] 22/2/2006 11:02

Well H2 should include an extra 100k from RSA so I'm looking for sales of about 1.5mm which should give PBT of 200-300k and EPS of approx 1p. Having said that, I'm not particularly fussed about the actual numbers (as long as they're moving in the right direction) as contract timing still will make a big difference at this stage in their development. It's next year when the US contracts will really start contributing - federal rebadging, the US aerospace rollout, US banks, John Lewis etc.

My targe for the share price is 60p by December which will trigger conversion of the convertibles, with the substantial share price gains kicking in next year.

[igoe104] 22/2/2006 09:16

the great thing, i like about this company, is your never too far from a rns.
so many partners, their is always going too be lots of news flow. keeps the interest going. unlike alot of companies out their. fancy this too pash 50p by early april. (just my opinion)

[taurusthebear] 22/2/2006 00:53

Well, here's the last three halves sales:-

H1 01/04/04-30/09/04: 535,000
H2 01/10/04-01/03/05: 1,265,000
H1 01/04/05-30/09/05: 1,241,000

For the period ending 30/09/04, the CEO said that deals had been deferred to H2, so taking that into account it could give a more even spread of the growth i.e. H2 last year included some late spend from H1.

It seems about 2.5m quid annual sales represents breakeven, so at about 90% margins, any increase in H2 from this year's H1 would presumably lead to a small profit. Interesting times ahead... :0)

[yump] 21/2/2006 18:50

Why was it so difficult to buy at 15p (I couldn't bring myself to do it, despite having researched the company), but much easier to top up when it had risen quite a bit above my first purchase price ? Psychology is a scary thing.
Easy to justify as being 'safer' topping up once you've got a good gain, then you're protected against capital loss if something nasty happens. Or is that rationalisation ?

I don't know if anything is going to happen, but its a new high in what isn't exactly a boom market for small stocks.

Hoping to be sitting here in a few years with a multiple of current share price anyway.

[sheik yerbouti] 21/2/2006 16:42

TTB, I agree, I hold. I just wondered why yump reckoned they were going to go again "soon". I hope he's right, but I'm in for the long term anyway.

[taurusthebear] 21/2/2006 16:30

SY - the way I look at it, from a charting viewpoint, is that IGP shares have risen sharply in the past 8 months due to news. Look at the chart if you don't believe me! What's happening now is that a few more people (myself included, but at least I've been buying!) have become aware of the company. Not nearly enough, of course, but isn't that always the case when you discover an undiscovered gem!?

No, I'm still a buyer here, but there seems to be a 5-week hiatus before an update is due. If, of course, they issue one, and they don't pre-empt the market by issuing early. Each person's call, but the way I read it, there's a lot more upside than downside here over the next 2 years... :0)

[yump] 21/2/2006 14:46

The timing and stability of the steps, the rapid recovery from 29p to today's price and a bit of gut instinct which nobody should rely on. Just looks like all the investors are stake building at the moment, which means each new level is potentially very stable. Volume hasn't been that high - if some serious money arrives... on a longer term chart there's not any obvious resistance above this level.

[yump] 21/2/2006 14:27

I reckon this is going to go again soon.

[sheik yerbouti] 21/2/2006 14:10

Must be some stock around then, you can still buy 20k at 35.48 online.

[taurusthebear] 21/2/2006 12:46

Smart - just made that official! Guess I owe you a beer.... ;0)

[taurusthebear] 21/2/2006 01:17

Smart - thanks for that info, I was wondering who would be selling these when they have so much going for them. But put it this way, if I was to buy another 10k early on Tuesday (and I'm not saying I'm going to), then I can now get them for 35.48p instead of 35.75p, saving me 27 quid. So, you'd have bought me few beers there. LOL!

yump - will have a look but am now quite happy with 7 stocks, 6 of which seem to be performing well, don't want to tempt fate and overload my portfolio! ;-)

[smartmoney100] 20/2/2006 19:16

Yes indeed something seems to be wrong with barclays stockbroking site. Usualy it would say ''this stock is not allowed in the selected a/c''. I checked a few stocks out with dummy trades, I could have bought IND too. Maybe I'll tell em, ermm maybe not.

[yump] 20/2/2006 18:51

>ttb
Off topic, but looking at your TMF post, Pilat Media PGB might be your sort of stock (value)?

[wjccghcc] 20/2/2006 18:37

I'm surprised your broker let you buy them. Most will warn you it's an AIM stock I thought.

Still, a profit's a profit :-)

[taurusthebear] 20/2/2006 15:33

Here's a reminder of the market for IGP software, as outlined on May 24th at final results. If you're in any doubt about your shareholding, I'd recommend reading right through the statement, because it just looks so good to me, delivering on what they said, growing, good strategy, licenses to be extended etc. etc. Wish I had seen it at the time and then I'd have got in at half of today's price!

1. Identity management and security is now one of the highest IT spending
priorities in many large organisations.

2. Homeland Security Presidential Directive (HSPD) 12 requires smart card
identity badges to be issued to all US Federal government employees by
October 2006.

3. Fears of identity theft and "phishing" for retail and corporate banking
customers is creating new demand within the financial services industry.

4. The use of smart cards, national identity cards and passports is becoming a
global inevitability in the fight against terrorism, crime and illegal
immigration.

5. The issuance of digital tachograph cards to all new trucks drivers
throughout the EU.

6. New service delivery mechanisms and legislation requiring the enhanced
protection of electronic medical records in the US and EU health care
industries.

7. Personal identity and loyalty cards that deliver financial benefits,
cashless vending and access control to campus communities,
e.g. universities, hospitals, major employers.

[wjccghcc] 20/2/2006 14:24

Likewise, I didn't buy a large amount of these as a punt on the National ID card. It would certainly be a bonus and would bring them to wider attention but it's more the icing on the cake. For me, the huge growth in corporate ID and the US federal rebadging due by October should really start showing through in the 06/07 mumbers, which combined with the high operational gearing will make these look extremely cheap IMHO.

[taurusthebear] 20/2/2006 13:59

But the point, for me, is that I'm not buying IGP shares in the expectation that they'll get the National ID contract. If they do, it'll be fantastic, but I'm not holding my breath on it. They managed to double year-on-year turnover in H1 without any national IDs. The last final results show the number of pies available, national IDs are just one of those.

I don't think there are many people watching this because it has just slipped through the net at a time when small cap. commodity shares are all the rage. Also, if they have looked, they are possibly suspicious of software companies, because they operate in such a competitive environment. But the signs are all there for those who dig a bit deeper...

Don't forget, apart from Paul Scott and a few ardent followers like myself, even Indigo Vision shares weren't much followed until a few months ago. Eventually, the figures will speak for themselves, and if they're good, the flies will come..... :0)

[igoe104] 20/2/2006 10:21

the problem is, if their is is a rns, about the national id card, that we have a involvement, people might sit up and noticed. because millions of people are involved. and the press are bound too pick up on the story. so top up as much as you can in the near future. (is my advice). remember its possible their is alot of other countries, having the id card as well soon. france, japan, australia, and many more.

[yump] 20/2/2006 09:44

Yesterdays just a blip in the number of posts - don't panic. I don't understand how the share price could have doubled since the summer and sits on a new high, but there's hardly any posters. Didn't think this sort of thing happens ! Must be a few thousand lurkers.