why after an announcment does the sp drop?, page-26

Michael,

I share your pain.
I also agree there wont be any share price improvement any time soon.
I just hope they have enough in the bank to keep them going and become cash flow positive - especially now they are "speccing" capex costs for developers.
I reckon INT's WACC (Weighted Average Cost of Capital) is well in the mid teens/ early 20's. That means they need to be getting a really big margin from equipment sales to Hickory (and other developers) if INT is to be able to fund capex for the sake of increasing their billing revenues.