funding and other things

I was an INT holder many years ago - loved what they were trying to do with the whole internet based meter reading stuff.

Since the funding announcement today, I had a look at them again - boy there is a lot of pain in this share (sorry for long term holders).

But.... I think I will be buying myself some over the next few days/weeks. The funding arrangement is excellent when looking back up the cliff from these low levels.

Dont get me wrong - La Jolla destroy share prices at will (check out QHL and others for an understanding of what/how they do this). Their own business is to make money from converting and selling shares on market (they are not a benevolent fund, but ask no up front costs, low interest and easy repayment terms so you do the math).

However, they must see a viable long term business with a sp that will grow and believe me they would have done their due dilligence. I especially like the 'no conversion below 0.2c condition as there is little downside from here.

My only niggling concern is the share consolidation, but that is inevitable and as long as contracts are being won and the current management deliver (and they sound the part), then to my mind, with long term funding in place, so little chance of administration, it could be a nice safe bet away from the resource sector.

Please feel free to point out the error of my way before I part with my $$$ if I have anything wrong.