I think the most important point is this; Intiger is not mainly a offshore processing business, it's mainly a technology business which operates in financial services sector with offshore processing platform as a secondary supporting tool.
When you look at the structure of Intiger Group of companies below, you will see only one company Lion 2 Business Process Inc. is doing the offshore business (staff contracts, costs, office lease, salaries). And it's doing it by getting a license & Know How from the Tiger 1 Ltd. (Hong Kong) which holds IP (intellectual Property) & Offshore Processing IP of LILLY.
All the other Intiger group of companies dealing with technology and management issues.
Another important point that there are two IPs. They are both held by Tiger 1 Ltd. (Hong Kong)
1) "LILLY" IP
2) “Outsourced Offshore Processing” IP
Intiger Group Ltd. (Parent)(IAM.ASX)
These companies below are the subsidiaries of parent company Intiger Group Ltd. (ACN 098 238 585) (Ex-Star Striker Ltd. SRT.ASX)
HKCN: 2258742
Holds the ownership of “LILLY” IP & “Outsourced Offshore Processing” IP
Tiger 1 Limited is the owner of the entire and undivided right, title and interest in and to the intellectual property, proprietary technology and know-how created for the provision of outsourced offshore processing for the Australian financial planningand Australian property management industries (Outsourced Offshore Processing IP).
Tiger 1 has given the licence and know-how to Outsourced Offshore Processing IP to;
Lion 2 (Philippines) and
Intiger Hong Kong (Intiger Asset Management Ltd – Hong Kong)
Tiger 1 have granted Lion 2 an exclusive, non-transferable licence to sell, distribute and offer the outsourced Offshore Processing IP to Australian financial planning firms and/or property management firms for a period at the sole discretion of Tiger 1.
In consideration for the grant of the licence, Lion 2 agrees to pay Tiger 1 a royalty of $1.00 of its net income after expenses per annum.
Intiger Asset Management Ltd. (Hong Kong co.)
HKCN 2254952
All client contracts (from Australia) signed to this entity. License agreement with Tiger-1
Tiger 1 have granted Intiger Hong Kong an exclusive, non-transferable licence to sell, distribute and offer the Outsourced Offshore Processing IP to Australian financial planning firms and/or property management firms for a period at the sole discretion of Tiger 1.
In consideration for the grant of the licence, Intiger Hong Kong agrees to pay Tiger 1 a royalty of 95% of its net income after expenses per annum.
ACN 606 729 328
Administration and management function for the business.
Intiger Australia and Intiger Hong Kong have entered into a Charge Back Agreement. Intiger Australia has agreed to provide administrative services in Australia to Intiger Hong Kong. Under the Charge Back Agreement, Intiger Hong Kong has agreed to meet the ongoing expenses, charges and costs of the provision of the administrative services by Intiger Australia on an ongoing basis.
Intiger Process Enhancement Pty Ltd (Australian co.)
ACN 610 159 209
Provides consulting services on IP use. (It was incorporated on 12 January 2016 and has no current operations and no operating history)
INTEGRA Asset Management (Australian co.)
ACN 162 734 376
Administration and management function for the business.
(Most probably it will operate the property management business of Intiger Group in the future)
IAM Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
(20min delay)