Itaconix Share Discussion Threads

[goodfella] 06/2/2002 18:58

millions

Or they could lend the rest of the cash to another subsidiary and report six months later that they are unable to get paid :-))

[mi££ions] 06/2/2002 18:34

They must sell, shut down or dump the underlying business somehow to retain what's left of the cash and turn themselves into a cash shell. It's either that or bankruptcy, IMHO. £6M or 17p per share less disposal or redundancy cost should leave a healthy shell.

[cat] 06/2/2002 18:07

FROM CITYWIRE:

15:14, Wed 6 Feb 2002
InterX crashes
Lost sales, lower revenue, a massive bad debt … InterX is X rated.

Unless drastic action is taking it will run out of cash in July. No wonder the shares lost three quarters of their value this afternoon.

InterX (ITX) put great faith in its BladeRunner software after switching from computer hardware and chief executive Simon Barker claimed today that the sales pipelines ‘continue to grow’.

Strange, then, that he admits to a ‘widespread delay in purchasing decisions and deferral in corporate IT budgets’.

Deferrals are bad enough but they do hold out some hope of future revenue as delayed contracts are eventually signed. However, as Barker admits, clients increasingly want to buy software from global market leaders so deals may never come through for InterX.

Results for the six months to December will be released next Tuesday and they will fall well short of City hopes. InterX made a pre-tax loss of £14.4 million in the first quarter but analysts had hoped the company would break even in the rest of the financial year.

InterX was due to receive the repayment of a £16.4 million loan, plus interest of £1.6 million, from 34%-owned Diligenti, which can’t pay. Given that InterX had £6.2 million cash at the end of December and is spending at the rate of £1 million a month, this is a serious blow.

Joanne Wallen warned on Citywire last August that the software distributor needed more than undiminished confidence in its latest product to convince shareholders that it had a future.

The shares dropped 51p to 16.5p. Keep well clear.

[dyl] 06/2/2002 17:04

Good call spaggy , fire sale now , case of get what you can while its available.

[anne flicker] 06/2/2002 16:50

I agree but the stock has now become a clearer target for the retail shorter and any bear-closing/sucker-buying will be followed by more shorting.
Price Target is now 0p.

[superrod] 06/2/2002 16:46

quidzinn
hope you are right for your sake. i bought after crawford resigned. the rally came and i was actually up for a few days. here was i thinking id made a good call. i got outwith 50% loss.
good luck

[mi££ions] 06/2/2002 16:45

I guess the company will either be sold or the underlying business will be sold or wound up, leaving yet another cash shell on the LSE!

[goodfella] 06/2/2002 16:37

Cat

You are going to get short closing.

I closed 50k and left 50k open as I am going on holiday tomorrow.

[cat] 06/2/2002 16:19

crikey, this is where mug punters pile in on a "recovery" play only for institutions to sell into the sucker's rallies.
Just group replayed.

[quidzinn] 06/2/2002 16:14

only time will tell

[rickster] 06/2/2002 15:47

WAF

Totally agree. Anyone who revels in others misfortune must be one sad b*stard! I have lost all my investment on this one but didn't have a huge holding fortunately. Still very frustrating though as it would have paid for a holiday or similar.

later
Rickster

[cat] 06/2/2002 15:46

The lure of the recovery situation.....the same happened with Just.
We're more likely to halve again tomorrow.

[cat] 06/2/2002 15:44

Gonna go sub 10p tomorrow when the press let fly.
Good way to chuck money away quizdinn.

[storminsteve] 06/2/2002 15:43

dont trust tipsters like tom winnifred he surely isnt still a tipster is he.

[quidzinn] 06/2/2002 15:42

Just bought 25,000 at 19p - in for a penny.....

[superrod] 06/2/2002 15:41

peeps are MAD. they are buying

[the hound] 06/2/2002 15:00

Better the vet!

[waf] 06/2/2002 14:55

Yes - REALLY FUNNY.............. I DON'T THINK

This is people's lives you are talking about you ignorant pratt - think about the staff at the company and how they must feel today.......

Unbelieveable, the way some people revel in others misfortune.

[percival2002] 06/2/2002 14:51

the writing was on the wall for this company - unfortunately the people that were saying this share was "cheap" obviously don't know how to read P+L

[mh] 06/2/2002 14:49

oh la la,now down 75% today - slip,slip sliding away,time to call the nurse.

[anne flicker] 06/2/2002 14:47

See what you mean superod - must be a hidden trade way below the price.

[cat] 06/2/2002 14:46

oo ekk - whatsup now?