They have plenty of cash to last a few quarters without need for...

They have plenty of cash to last a few quarters without need for a cap raise. Stop fear mongering.

Last quarter was an expensive one with development of the portal and inability to take on lots of new clients as a result. Taking on clients in the middle of refining their processes via accessibility through the portal would have resulted in potentially providing a below rate service. I think IAM know they have to get it right the first time when dealing with new clients from here on in, so a step back in taking on new clients and servicing existing could well have occurred as a result of the focus on portal development.

I will give two quarters for IAM to deliver increased revenue with the portal up and running before I make an investment decision on whether to keep holding. I invested due to their product and service potentially being in high demand through the FP industry. The portal has been highlighted as the ideal way forward for client interaction and processing as opposed to locking in a practise or dealer group with a contract. IAM's strategy has evolved as a result of a few challenges with clients not wanting to sign binding contracts. The portal solves that problem and provides great flexibility for IAM and more importantly it's clients. If I bailed out now and didn't give the portal a shot then I wasn't ever giving the IAM business product a chance to deliver some value, which is why I originally invested.

Totally understand if people are selling though. Each individual has a different tolerance to risk. Selling during a time where human psychology is at it's wildest and retail hands are dropping shares in a chain reaction doesn't usually provide the best exit price though. Herd mentality can be quite irrational.