Selling appears to be drying up and price increased from 4.0c to 4.3c. Momentum appears to have turned. Volumes are still very thin. Quarterly statement released. Bots were active and went into overdrive at close on Thursday. Question is why?
In the chart below I’ve attempted to show a number of discrete phases of IAM’s trading. Following a period of Accumulation, the Anticipation phase shows spectacular surge. Shareholders were clearly excited by the prospect of MOU#2 news. When the news didn’t arrive in December share price fell and shareholders Recalibrated their expectations towards a March quarter announcement. Then we had the SOA issue with NAB Financial which created confusion which hit shareholder confidence resulting in further falls in the share price (Some thought the NAB SOA was MOU#2 but isn’t.). Further falls occurred as the MOU#2 & 3 objectives passed.
Now we know from Patrick Canion’s interview that behind the scenes IAM has continued to grow the business despite the share price fluctuations and some of these developments have been released by way of company announcements and referred to in interviews by Patrick and by Mark Fisher. If you haven’t listened then I recommend listening to them (even if you have, then listen to them again) as they clearly put the bigger picture into context. IAM’s potential is mind blowing in my humble opinion.
Here’s a reminder of what Mark Fisher had to say.
MF: At the moment we have a significant number of, we constantly have a very significant number of licensees and practices who are reaching out to us, we’re engaging with them on a daily basis. The level of demand has always been very significant and it will continue to be as we are the near sole provider of this solution. We created this industry we created the awareness in this industry, the financial planning industry, that they need to optimise their back office processing and the only way they can really do that is through off-shore human resource arbitrage with a technology bent combination. We are the only entity that has built and delivered, proven delivered nationally to some of the industry’s largest licensees and we have the capability of delivering that proven solution.THAT REPUTIATION IS NOW PRECEDING US. The market is certainly aware of Intiger, it is aware that it is the near sole provider of that outcome and it provides a very, very rosy picture for the future in our opinion.
MF: …. We’re aware of the expectation in the market (here Mark is referring to local and international markets)… …. We are doing everything we can and then some to bring those MOUs forward and to move this whole Intiger solution and entity in the direction it needs to as soon as possible.
MF: …what I would ask is that please keep focussed on the goals the big goals of the creation of the dynasty solution. Don’t worry too much about the short term maybe a missed contract here or there or upset or sometimes if we go over along the way because in the large scheme of things they’re irrelevant. I’m not saying that any of that is likely to happen in the near future at all please don’t anyone worry about that. Just be aware that there is a significant entity, very significant entity being created here, it’ll have its ups and downs but you are in the right place you are on the right train.
So it now seems that we are entering (have entered) a new phase in the lead up to Intiger Roadshow and as the Chairman of Intiger has indicated, that between the Quarterly and the Roadshow events i.e. “In between those two things we hopefully will have a few more things to announce that we’ve been working on.” The Roadshow was slated for (probably) the second week of May if that’s the case then we can (hopefully) expect news next week.
I think we’re entering a pivotal period in IAM’s short history and as I’ve made it clear I’m in this for the long haul i.e. the IAM business model has growth written all over it not to mention scalability. H.
(20min delay)