the end is getting near, page-15

Considering INT market cap is less than $10mil, I think its safe to assume that EnergyMad would be under $10mil.

So it comes down to do INT need the money. Or will INT grow faster than EnergyMad.

The handling of the Belgravia convertible note wasnt the best. But the note itself was quite successful. It provided funds to INT when they needed it and at a competitve interest rate.

I would rule bank debt out as an option. Not enough security for the bank.

But when the time is right, another convertible note is prefered over a dilutive cap raising. It will offer the issuer security that at the very least they recieve shares to pay out the loan. Also we could potentially keep EnergyMad and use that as collateral. Especially once it has a 'market value' on it.

The next 6months will tell alot about management. Do all the announced contracts eventuate, do they continue signing more, are their further downgrades and revisions to earning, does EnergyMad sell, etc...

On the balance, it would seem that survival isn't an issue. Their are funding options available if/when it becomes required.

If the third quarter sees the revenue that has been promised, then they regain credibility.

Its understandable that delays have occured. The GFC hit developers hard. Projects stalled. Economy is picking up and property is doing well again.