Ann: Intiger Market Update, page-940

IAM: The Shell Game
I held Options from Jun 2015 to July 31 2017. Loved the story and all the hype. Watched a peak of 80k profit drop to 25k in 6 months. I converted the Options in June on expectation of something substantial from the Company for the NFY. I sold after the Sector vs Vanzant debate. For newbies, here's a quick history from a certain point of view.
Not here to gloat, down or upramp as I’m not buying or selling and won’t be buying back in. Enjoy the read..
The Shell Game
2015
Start with a shell:
Find a debt ridden private company with a marketable niche product: Intiger Asset Management
Label its product with a sweet attractive innocent name: Lilly.
Make sure its associated with money: Fintech.
Recycle a well oiled pheonix type ex mining ex retail /gowings shell: RSL.
Give it a new sexy name: SRT Star Striker.
SP 1-2c
………………
Sow the dream seed: 4 milestone targets in just 36 months and 40m net profit after tax. Wow.
Add: an 8.5c ($100m mc) take over price for icing.
Lock in Shareholders dream: Director receives 100m shares at shell price of course.

2016- List it :
Go public using asx backdoor/reverse takeover: raise a lot of cash: $3.48m
Write off $1m for inherited company loss. Thankyou
Add industry recognised heavyweights..Marketing Manager and Chairman.

Release MOU1: Sentry..sell it hard.

Take out 500k cash in admin, corporate and operating costs for the quarter.
Income revenue expectation unknown at this stage.


Oct to Dec 2016
Hold roadshows for SH only stating 13 months client waiting list.
Use social media to further sow and spin the dream.
Spin low cost offshore employment which can't be confirmed by local shareholders.

Sow seed of household name MOU2 release by Xmas 2016.
SP pumps past the takeover price to 9.5c. Kaching
Dream is alive and pumping.
SP settles at 6.5c zone
Merry Christmas to those that sold ..and especially to those IAMLTH’s that hold.

Take out 500k cash in admin, corporate and operating costs for the quarter.
Income revenue expectation still unknown and not questioned at this stage.

2017 Jan to March Q1
MOU2 fails to release by Xmas.
Create extension spin with BOD signing off the 19 of 20 steps due by End of Jan 2017.
MOU2 never happens.

Instead, provide a basic Sentry progress update indicating trials to finally start after nearly 6 months.
SP surprisingly hold up at 6.5c mark.
What a dream. A lot of love here.

Release out of the blue MOU on March 1st:
NAB SP surges from 6-8c for one day. Katching.
2 days later..NAB denies deal, truth/BS exposed.
Selloff starts.

SP finishes Q1 at 5.2c

Take out 500k cash in admin, corporate and operating costs for the quarter.
Income revenue expectation still unknown and not questioned at this stage.

April to June Q2
Chairman heavyweight resigns.

Hold more roadshows to keep dream alive.

Sow the promise MOU2 still alive, however quietly release a statement on May 2 that an un-named deal has fallen thru.
Sow the seed of client privacy to cover up MOUs not being released.
No further MOUs released (to date)

SP finishes Q2 at 4.5c

Take out 500k cash in admin, corporate and operating costs for the quarter.
Income revenue expectation still unknown and not questioned at this stage.

July to Sep Q3

Release Aug 4c just 9mths into public listing.
Realisation sets in, targets unachievable using current plan.
Dream is over for many original followers.

Provide extraordinary arrogant quote of the year in Business Activity Update leaving shareholders flabbergasted.

“This was especially pleasing given the traditionally difficult trading conditions in April, where a combination of public and school holidays typically results in slow client business activity”

Release existing product with online Portal add-on with new sexy name: BOOM
(now which Company doesn't have a basic online access portal/ordering website)
Spin customer privacy is no longer an issue.
Sp tanks to 2cents. Nightmare begins.
MW resigns after being paid out all those directors fees every quarter. On top of that, quietly selling but not converting his 20m options, which would have contributed a lot of cash to the company he holds 100m shares.
Sow the seeds.... of milestone1 still achievable by Xmas 2017, plus Cash injection of options by Xmas 2017.
Another seed sown for possible company acquisition to reach milestones and another sown seed for a possible CR.
Direction of Company becomes confusing to say the least. Misdirection is a better word.
SP finishes Q2 at 1.3c

Take out 500k cash in admin, corporate and operating costs for the quarter.
Income revenue expectation becomes reality.

Sept Oct
All goes quiet in Sep/Oct except some social media.
All in the fullness of time. You don’t know what we know..
No news is good news.
Then....
4C is released.
Revenue actually goes backward. Expenses go higher. Excuses go ballistic.
Release BOOM2. (and lots of smoke).
Take out 500k cash in admin, corporate and operating costs for the quarter.
Income revenue expectation becomes nightmare.

Provide extraordinary confusing quote 2 of the year in Business Activity Update leaving shareholders at a loss to say the least.

“Whilst we would have preferred quarterly revenue to be higher, it underlines the disruptive change our services can cause in the businesses of our customers.”

Deny all promises. Social media goes cold. IAMLTH and its associates silenced.
--------------------------------
and Just for laughs....
https://hotcopper.com.au/posts/28270437/single
https://hotcopper.com.au/posts/28271412/single
https://hotcopper.com.au/posts/28271439/single

it is my understanding that AMP is contracted to buy out IPACWA in 2019 (approx)
Yes ,AMP have a contract to buy it out. So one day, AMP may still be that next MOU.
.........................
The future - is not written, so you only have the past to work from.
One things for sure…
This and the next quarter, take out 500k cash in admin, corporate and operating costs for the quarter and the next until the cash is gone.

You don’t know what they know. But you should.

Hopefully for IAM does not return to being a Shell.