the end is getting near, page-11

I have seen some discussion recently about the realisation of the investment in Energy Mad as being a significant help to INT. There is suggestion of an IPO I understand.

What is the book value of this investment? It is k's rather than m's isnt it?

Considering that Plympton and Meehan are on the board of energy mad, the carrying value should accurate. There may be some modest uplift on IPO, but I cant beleive it will be a dot-com valued float.

What else is needed to get the ducks in a row for an IPO in addition to "talking to an advisor"?. Does this mean that a broker is engaged, account are audited,a due dilligence committee formed and a prospectus commenced?

Even if all the above ducks are in a row, what is the probability of Christchurch based company geting an IPO up in the short term?

I cant answer these questions but presumably Plympton could given his role in the driver's seat of both organisations.

I hope that the INT shares in energymad arn't escrowed on IPO because of the cross directorships.

I am new to this stuff so I would appreciate some light being shed on it. Whilst on the subject of light, isnt it the case that the "efficient" light bulb market is being flood-lit with stuff from China?

The potential cash from energy mad (if available) is vital to INT to feed the the top-heavy management salaries. Otherwise, there will need to be another call on shareholders to pay them. I wonder if Bell's will underwrite that one.....

The prospect of enough short term cash from new projects is unrealistic IMO. The 4 network sites listed in the last announcement are not big ones in the scheme of things. A systemic problems is that anyone who has a big, lucrative site is unlikely to engage INT if they do any DD on them; the cash flow and balance sheet, being in the public domain, is hard to hide. The write backs to previous years accounts from overstating profits is not something that large property funds/developers like to see in their suppliers....They have been burnt doing it to themselves.