Itaconix Share Discussion Threads

[ajrice] 03/10/2002 09:48

Pardon my ignorance but does anyone know if ITX is totally and finally dead; if so can I discard that useless piece of paper entitled "share certificate"?
ajr

[dragonhorse] 24/5/2002 09:59

InterX ....InterthebigbrownDooDoo.

[callumross] 21/5/2002 00:12

percival2002 - I've got to give you credit - you were spot on with this one.

[isis] 20/5/2002 13:58

Another one for the pot.

[crestseal] 04/5/2002 00:27

Interesting trades today

Any ideas anyone

[m.t.glass] 30/4/2002 10:28

Dropping like a brick..

[mug punter] 18/4/2002 08:52

From Citywire Yesterday evening.

Just about sums up the thoughts of most of us on this thread. Still looking for 6p again on this one.

18:32, Wed 17 April 2002

Tech Stock Round Up: Interx's buyer

* InterX (ITX) has at least manage to salvage a vestige of self respect by selling the rights to its software products to claims management software business The Innovation Group (TiG) (TIG).

Citywire has pointed out on a number of occasions that InterX's faith in its Bladerunner software was not supported by customers rushing to buy the thing, and InterX re-invented itself several times in the course of about 18 months to try to jump on bandwagons such as mobile data, eCRM (electronic customer relationship management) and the like.

Today's deal sees stock market darling TiG buying Bladerunner and its successor Net2020, which has now reinvented itself again as a piece of software that unifies a company's disparate websites into a single portal. TiG's involvement presumably came through InterX customer Royal & Sun Alliance, also a TiG customer, which used InterX technology to launch its MORE THAN venture for Internet and digital TV services.
continue..

TiG is paying an initial £1.3 million for software that apparently cost InterX more than £30 million to develop in the past two years. It will then make a further deferred payment of up to £7 million, depending on the licences it manages to sell for the InterX software over the next two years. TiG also gets an option to subscribe for 1.5 million InterX shares at 6p each, a discount of 73%. Quite what will be left in InterX after this remains to be seen, apart perhaps from any cash it has not managed to burn yet.

TiG thinks the software will be very complementary to its existing offerings, and has made a policy of trying to own the intellectual property of all the software it uses. The news sent its shares up 21p to 167.5p, valuing it at £322.5 million. InterX shares fell 1p to 21.5p, valuing it at £7.5 million. Neither company has been available all day.

[mi££ions] 18/4/2002 08:42

I wrote off InterX a long time ago. I don't know why I keep looking at this thread really, maybe out of surprise that it's still listed!

[mug punter] 18/4/2002 08:40

From Citywire Yesterday evening.

Just about sums up the thoughts of most of us on this thread. Still looking for 6p again on this one.

18:32, Wed 17 April 2002

Tech Stock Round Up: Interx's buyer

* InterX (ITX) has at least manage to salvage a vestige of self respect by selling the rights to its software products to claims management software business The Innovation Group (TiG) (TIG).

Citywire has pointed out on a number of occasions that InterX's faith in its Bladerunner software was not supported by customers rushing to buy the thing, and InterX re-invented itself several times in the course of about 18 months to try to jump on bandwagons such as mobile data, eCRM (electronic customer relationship management) and the like.

Today's deal sees stock market darling TiG buying Bladerunner and its successor Net2020, which has now reinvented itself again as a piece of software that unifies a company's disparate websites into a single portal. TiG's involvement presumably came through InterX customer Royal & Sun Alliance, also a TiG customer, which used InterX technology to launch its MORE THAN venture for Internet and digital TV services.
continue..

TiG is paying an initial £1.3 million for software that apparently cost InterX more than £30 million to develop in the past two years. It will then make a further deferred payment of up to £7 million, depending on the licences it manages to sell for the InterX software over the next two years. TiG also gets an option to subscribe for 1.5 million InterX shares at 6p each, a discount of 73%. Quite what will be left in InterX after this remains to be seen, apart perhaps from any cash it has not managed to burn yet.

TiG thinks the software will be very complementary to its existing offerings, and has made a policy of trying to own the intellectual property of all the software it uses. The news sent its shares up 21p to 167.5p, valuing it at £322.5 million. InterX shares fell 1p to 21.5p, valuing it at £7.5 million. Neither company has been available all day.

[2deano] 18/4/2002 00:29

What a disaster of a day so far at ITX. Hands up those that are buying on the 'dip' ;o)

Regards.

[goodfella] 17/4/2002 19:40

millions

Sorry I missed your post.

ITX is fundamental....it has no ongoing revenues but still has costs and 1.9 million after paying creditors.

Chances of recovery from Dilligenti IMHO are NIL.

Assets of 2 million and reducing by 300k per month ie 6 months leaving the guarantee of 4 million from TIG.

Any future revenues IMHO are pie in the sky.

So what you are left with is essentially a cash shell of 4 miilion worth some time in the future.

Market Cap £7.5 miilion

If I gave you 50p would you give me £1 back.......I dont think so.

The shares are worth 10p as best and no prospects of attaining any additional value as even a reverse takeover would dilute the ordinary shareholders.

If they rent the building and get someone else to put up a 5 million deposit there is upside to maybe 15 p but any sensible landlord would not return the deposit unless someone else replaces it and that is a very unlikely scenario

To be frank anyone buying the shares at this level is either charitable or stupid

[mug punter] 17/4/2002 11:58

And the MMs are delaying trades - as is their right of course - to cover the big impending sells after their little shorter shake out game this morning.

That 50,000 at 25 was a delayed sell as the price at the time was 25-26 and 25-27.

Tanking downwards now.

[mug punter] 17/4/2002 11:30

And the MMs are delaying trades - as is their right of course - to cover the big impending sells after their little shorter shake out game this morning.

That 50,000 at 25 was a delayed sell as the price at the time was 25-26 and 25-27.

[2deano] 17/4/2002 11:23

I don't see how you think this is such a great deal Crestseal. ITX current price in the market is a ridiculous premium to anything like what it is actually worth. Do you honestly see quantifiable upside at these levels.........

I retain the view that shareholders have been stuffed. The 50.89 irrevocable undertaking is what I have come to expect from ITX. Typical.

ITX is now well off its daily high of 26.75p and is now trading at 21.5p ( down 1 penny ). At what price did you buy?

Regards.

[mug punter] 17/4/2002 11:04

Crestseal,

Exactly how much value (measured in pounds) do you place on Diligentia ? I doubt if it is worth anything if it could not raise any more funds and can not service its debts.

As for Exemplar. In February it was capitalised on the Nasdaq at $3 million dollars. So if Diligenti owns 59% then its stake worth just over £1 million.

I just did a earch on Yahoo finance for Exemplar but could not find it - let alone its current value. Has it been delisted from Nasdaq ?

ITX is currently trading far too high.

Down to 6p (where Innovation Group have the right to buy shares - if they wish !!) or bust I think.

[crestseal] 17/4/2002 09:16

2Deano

I rest my case with respect of course

There is plenty of value in Diligentia and Exemplar

[keevo] 17/4/2002 08:25

Look at RONSON (RON)!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!11

[davidhel] 17/4/2002 08:19

So then - is the bear concensus still that ITX is doomed?

[mi££ions] 16/4/2002 20:50

goodfella,
you know my thoughts on chartism! For example, chartists seem to disagree whether Motion Media would be a short target at 30p or a breakout and therefore a buy. Can you please explain to me which it is? Your application of chartism seems to be more accurate than others. Wiggins was a fairly obvious sell after the accounts fiasco and the possibility of it going bust before realising cash from the sale of properties. I'm interested in your analysis of MMD. Were you aware that there was a large private seller disposing of his 3% stake (dragging the price from £1.60 to £1.10) followed by a new fund manager at CSFB who hates small caps and sold his 2% stake or was your bearishness purely down to the graph? I became extremely bearish on NIS at 70p and TED at 42p due to the falling knife effect but MMD hasn't been a falling knife, it's been on a gentle slide. What charting tools do you use?

Is your bearish analysis of ITX chart related or fundamentals related? Fundamentals suggest to me that the company has no cash, no income and no interest in the product!