Intercede Share Discussion Threads

[carly2] 30/4/2007 19:12

WJ,
Thank-you as always for your posts. You mentioned before your estimates for t/o for the y/e 31/03/08 as being £5m (giving around £2m profit) - based on the roll out of the hspd contracts as well as all of the other announced contracts. At this stage, are you aware of the roll out actually happening - or are there delays there as well. Will you, at this stage, be sticking with the above turnover estimate?
I really do wonder whether I should be adding, selling or holding - the number of holders who have said they'll buy at 55p, then 50p - and now we're lower than that - but no buying - nothing has changed with the company has it?!!
Anyone know the reason for the activity at the premises recently (lots of big motors in the car park!!)
Best wishes to all holders

[igoe104] 30/4/2007 15:24

DOES ANYONE fancy Ebt, i think this could be a 10 bagger over a 5 year period.

[wjccghcc] 30/4/2007 15:24

A case in point on delays. Having said that, it's a bit damning of Bearingpoint who, together with EDS, are about the only major non-Intercede partner in the US...


Port security measures delayed - again
TSA pushes back TWIC card distribution to work on infrastructure and standards

BY Wade-Hahn Chan
Published on April 30, 2007


The Transportation Worker Identification Credential (TWIC) program has hit another snag. The program will be delayed again while the Transportation Security Administration and its contractor resolve standards and infrastructure issues.

The latest delay - the third since fall 2006 - has annoyed some lawmakers who expressed their concerns in a recent Senate hearing. "After six years and $99.4 million, we still do not have access controls in our ports," said Sen. Daniel Akaka (D-Hawaii). "We need to get this program on track and on schedule."

Sen. Frank Lautenberg (D-N.J.) echoed that complaint. "I don't think there can be a lot of optimism that this program can meet any of the targets that have been outlined."

TSA awarded Lockheed Martin a $70 million contract in January to establish TWIC enrollment centers. TSA officials had expected to begin issuing the secure identity credentials to U.S. port workers and maritime employees in March. However, the necessary infrastructure and standards are not yet in place, according to industry sources and TSA officials.

A previous TWIC contractor developed a prototype infrastructure. When Lockheed Martin took over the TWIC project from that contractor, BearingPoint, the company found the infrastructure could not handle an implementation on the scale that TWIC requires, sources said. That infrastructure must support the enrollment and credentialing of 770,000 maritime and port employees at 3,500 facilities and on 5,300 vessels.

"We're working to make sure the backend system supplied by the previous contractor is fully operational and secure before we move forward on enrollments in Phase IV," said Leslie Holoweiko, a Lockheed Martin spokeswoman.

The program has also been delayed so TSA can align the TWIC standards with Federal Information Processing Standard 201, created to comply with Homeland Security Presidential Directive 12. "We made the decision to bring TWIC into alignment with the new federal government biometric standards," said TSA Administrator Kip Hawley in his testimony before the Senate Commerce, Science and Transportation Committee April 12.

The FIPS 201 standard includes interfaces for contact and contactless card readers, which the early TWIC standard did not. Maritime organizations warned TSA that port and maritime environments require contactless readers that can read the credentials of workers who could take time only to pause to wave their cards at the reader machines.

TSA asked representatives of the National Maritime Advisory Council and industry to draft a new a TWIC standard that includes specifications for contactless readers. The group submitted those specifications to TSA in February, and the agency is reviewing them, said Walter Hamilton, chairman of the International Biometric Industry Association.

After TSA makes a final decision on the new standard, the agency will give the specifications to industry to produce card readers. Card issuance will occur simultaneously at 134 ports managed by Coast Guard Captains of the Port, said John Schwartz, assistant director of the TWIC program in TSA's Transportation Threat Assessment and Credentialing Division.

However, Schwartz, would not say whether TSA has set another date to begin issuing the cards. Sen. Tom Carper (D-Del.) said at the hearing that TSA would not start issuing cards until sometime in the fall.

[taurusthebear] 30/4/2007 15:18

I just don't like software companies in general - high margins but intense competition and therefore little visibility in a commoditised industry. Companies like IGP and IBG seem to have a relative niche at the moment, so I do make exceptions! :0)

[wjccghcc] 30/4/2007 15:16

Made some good money out of SOG in the past. Sold out when the big Canadian acquisition began to look a bit worrisome. Until it's definitely sorted, I think there are better alternatives in the financial software sector (FSG, FIO, SSPH, TSE, FDP) to name a few.

[taurusthebear] 30/4/2007 15:13

Directors purchases in themselves are only indicators. Things only arrive if the company produces the goods, you can't quote isolated examples, or I could quote you Railtrack, Homebuy and Energis!

Also, timing and timescales are another thing. One poster on the CCT thread today said he's been a shareholder since 1998. That's a long time to wait just to get your money back!!!

EDIT: PP - why not talk about SOLA? It 4-bagged for me in 3 months (though I only top-sliced 3.5 of those bags), that's a better rate than 7 in 12. The wonder of SOLA was that it floated so cheaply! :0)

[papalpower] 30/4/2007 15:12

Yep, OSH is a near 7 bagger for me in under 12 months (and thats just so far). It amazes me how people talk of SOLA and other stocks being "wonders" when in fact there are plenty of others that have put in bigger gains, in shorter times, and still with loads more potential. I was talking to myself when bagging buckets of OSH at 9p, and even today the thread is quiet (as such).

The FD buying is attractive on SOG, I have it down as one for late summer to look at further (already in ATCG from a month or so back).

[igoe104] 30/4/2007 15:08

THINGS do arrive in the end if your patient, check osh for an example.
i,m excepting a positive agm on may 16th, for sog. which should settle the nerves about the north amercian acquistion. THE FD (m adorian) purchase of 183,000 plus shows in itself the sell-off is overdone.

[papalpower] 30/4/2007 14:57

The never arriving mirage........is that like India contracts and Leadcom ?? ;)

SOG is interesting, it does have strong cash generation, however the debt is a pain....should be around 7p EPS this year for SOG imo.

Taking into account debt, I would prefer ATCG over SOG, thats imv.

[taurusthebear] 30/4/2007 14:55

"Anyone who buys IGP should be prepared to wait until the US revenues start kicking in in 6-12 months time (and taking advantage of the fall to top up) or they really shouldn't be in a stock like this IMHO."

That's probably why there are no buyers except on sporadic news releases. The thing that also probably keeps people out is that it's totally illiquid outside those times - you may as well buy a house!

So I'm in for the long haul whether I like it or not. The problem with 6-12 month period is that it seems to have been the case for the past year at least. It's like a never-arriving mirage on the horizon. Of course, if it does eventually arrive, no-one really knows what revenues will accrue, but we may be lucky. Certainly illiquidity works on the way up as well as on the way down.

SOG looks soggy to me, igoe. High rating and debt. There's a lot of assumption in the price, even now, if you ask me! :0)

[wjccghcc] 30/4/2007 14:45

Not much to say. We've had the trading statement. Results are in a month. They are likely to show them with a small loss of 400k for the year but cashflow positive for H2. There should be a good description of the contracts they've been winning but a warning about timing uncertainty and the financial impact on IGP at this early stage in the process but that the longer-term upside should be significant.

The fall is purely down to people selling (doh!) which then accelerates as it falls through their stoploss and they see their profits dissappearing. Happens with many smallcaps like this between newsflow.

Yes, they could keep the hype going with a stream of press releases but personally I'd rather get rid of the weak holders. Anyone who buys IGP should be prepared to wait until the US revenues start kicking in in 6-12 months time (and taking advantage of the fall to top up) or they really shouldn't be in a stock like this IMHO.

[igoe104] 30/4/2007 14:42

Its not the companies fault, that folks are selling, and noboby is buying. the company is in good shape, things will take care of themself in the medium term.

ps i,ve invested 16k worth into sog, this is another company which got oversold.
I also like the fact that the FD invested A HEAVY AMOUNT a couple of weeks back.
Its well worth alook.

[carly2] 30/4/2007 14:10

What on earth is going on - come on Andrew (Walker), let's at least have a statement that will put a floor under this fall!!

[jailbird] 27/4/2007 14:51

to be fair MMs have had about 50K this week..so MMs making a mkt for wanna be buyers.

[carly2] 27/4/2007 14:22

I hope it does bounce - I agree with Taurus - this slow decline is painful!!

[jailbird] 27/4/2007 14:13

right at long term 200MA now..so expecting it to bounce of here

[taurusthebear] 27/4/2007 11:31

Well, the share price is like Chinese water torture. If it acts like this when markets are going gangbusters, what happens when the inevitable correction comes? Maybe IGP will ignore it, but if it doesn't and follows down, then this is going to get seriously interesting. The company has a lot more going for it now than when it came up through 40p last October, IMO. Closer timescales too! :0)

[wjccghcc] 25/4/2007 12:12

The GSA SSP provides a one size fits all contract. It is aimed at the smaller agencies where the cost of implementing HSPD-12 by themselves is prohibitive. It's about issuing every federal employee with a PIV card by Oct 2008 at the lowest cost possible. It does not help the individual agencies leverage the uses of these cards.

Larger agencies are more likely to want an implementation tailored to their individual requirements - e.g. linking to a particular HR database, existing physical access system, IT logins etc. Hence the bigger agencies such as The White House, Social Security, the EPA etc. have contracted with the likes of Verisign, RSA, Cybertrust, ORC to do their own implementation. Outside the GSA and NBC Shared Service Providers, at least 11 agencies have announced they're going it alone. Of these, 7 are using Intercede, 2 Actividentity and 2 Xtec as far as I'm aware.

[jailbird] 25/4/2007 11:58

WJCC,

what does do u mean they other aganecies will go it alone...what can or will they use as alternatives which also have to be HSPD-12 compliant

[wjccghcc] 25/4/2007 11:53

On balance yes, jailbird. TWIC will be twice the size of the GSA contract but the implementation will be less straightforward given the history of the project so may be subject to more delays.

The DoI National Business Center contract has already been won by IBM and Lockheed. They are using Intercede.

[jailbird] 25/4/2007 11:51

From WJCC's post

IBM/Gemalto/RSA/Verisign/Lockheed/Cybertrust/ORC all with IGP have TWIC, NBC SSP (18 agencies), and 7 other individual agencies including the White House and Social Security.

I guess NBC SSP is the DOI i mentioned in my previous post?

[jailbird] 25/4/2007 11:10

hmm, thanks WJCC,
so we rather be in the TWIC than this GSA one..so good news really!


looks like lockheed and IBM in are in the running foe the DOI as well.
Has this been mentioned by anyone?..so much news arounf at the mo!

The federal government is offering two shared services options for federal agencies trying to meet the strictures of HSPD-12. The Government Services Administration (GSA) has created the HSPD-12 Managed Services Office, while the Department of Interior (DoI) is looking to its National Business Center to offer shared services. This group recently signed up IBM and Lockheed Martin to help drive the initiative forward.


THis one we know about what about the one above
GSA, meanwhile, will open bidding on a contract to supply shared services that originally had been awarded to BearingPoint, and expires on January 7.

[wjccghcc] 25/4/2007 11:01

jailbird, Lockheed Martin did but didn't make it to the final three, probably because they'd just won the (larger) TWIC contract which will take up all of their resources.

The GSA contract has a ceiling of 1.5mm cards but the guaranteed amount is actually only 10,000 with expectations of reaching about 400k. Only 3 agencies have signed up for it so far. I suspect several of the other 39 may go it alone over the next 6 months as they work out how they can best benefit from HSPD-12.

[igoe104] 25/4/2007 09:55

The thing with the twic project, it going to continue to expand. so that 770,000 is the starting level, it could eventually expand to 15 million.

ps anyone hold any gfm. i,ve held from 6.25p. results out monday and they are going to be very very positive.

[jailbird] 25/4/2007 09:51

oh

just read this bit...did any of IGP's partners actually bid for this part of the GSA contract

GSA narrowed the field of bidders earlier this month to three from six, but it received proposals from only two companies, EDS and XTec. BearingPoint, the other finalist, chose not to submit a pricing proposal, company and industry officials said.

The new contract has a ceiling of 1.5 million cards, GSA officials said.

Not small by any means...