Not sure about the book value of energymad, but INT have just...

Not sure about the book value of energymad, but INT have just under 10%.

If it was floated, Im sure INT would be free to sell into the float. Thats how IPOs work. The private owners need to give up a percentage for the public IPO.

If they chose not to make their 10% available to an IPO, then yes I believe they would be prevented from selling on market in the short-term.

Looking at the revenues(and growth) and turnover of enegry mad, its hard to believe its not in the $5-10mil market cap range. So 10% will easily get $500k-$1mil IMO.

Its not the saviour, but its a decent chunk of working capital and a few contracts start contributing 3qtr. They should get by without a cap raising.

Ofcourse how long will the IPO take is anyones guess.

The main need for a cap raise will be if they win a major contract and need money for upfront costs. But you would rather them win a contract than lose.

Im more injterested in their current cash position. Yesterdays announcement sounded like they have $1.2mil in cash after extinguishing debt. If thats correct then INT is a spec BUY IMO.

But my original understanding was they had virtually no cash and were raising money to extinguish debt with a small amount remaining as working capital.