IGII - IBSG International, Inc.
Profile: IBSG International, Inc., through its subsidiaries, operates as a software provider, system integrator, and application service provider. The company, through its subsidiary, Intelligent Business Systems Group, Inc., licenses its digital service center software, which provides a range of digital budgetary and administrative, as well as commercial service applications, such as B2B, e-commerce, government to business, and enterprise business services on a single platform, known as the Biz World Pro. It provides its services to state small business development centers, business associations, and Fortune 1000 companies. The company's other subsidiary, Secure Blue, Inc., provides a Sarbanes-Oxley compliant and security software called Secure Blue Pro. Its other subsidiary, Intelligent Business Systems Development, Inc. operates as a software development, maintenance, and data storage company. In addition, the company has a joint venture with The Knowledge Institute of New Hampshire to develop a product called myVBI, which utilizes BizWorldPro as its core and provides approximately 1000 small business services supporting the concept of a virtual business incubator. IBSG International was incorporated in 2003 and is based in Celebration, Florida.
Sector: Technology
Industry: Application Software
Mkt Cap: 14.5 Million
Fundamentals/News
There are many eyes watching IGII.
Check out David Randolph's(writing under his real name Cesar Borja) fundamental analysis on otcbbcoverage.com:
http://www.otcbbcoverage.com/stocks/index.php?topic=30.0
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(http://www.3stocksonfire.org/stockcharts/IGII%2005-10-2006%20003.JPG)
(http://www.3stocksonfire.org/stockcharts/IGII%2005-10-2006%20004.JPG)
"IGII is the cheapest stock I ever saw. The stock isn't liquid enough for traders and speculators to notice or consider. If there's a technical signal to the upside one should follow it. IGII can be a 10 to 20 bagger from current levels."
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Also Julia(gmarc) and some other members seem to have been keeping track of IGII on our msg boards: http://www.3stocksonfire.org/trading/index.php?topic=2667.msg56619#msg56619
Technicals
IGII put in a technical signal by breaking out of its descending weekly trendline on volume. Average trading volume has risen steadily since June of 2005 when the stock bottomed out.
Long-term
(http://www.3stocksonfire.org/stockcharts/IGII%2005-10-2006%20002.JPG)
IGII just broke out of a pennant after a triple bottom. All moving averages are below and the stock is ready to climb out.
Short-term
(http://www.3stocksonfire.org/stockcharts/IGII%2005-10-2006%20001.JPG)
Trade Plan
With the fundamentals looking so great this stock is just waiting to be discovered. Our main resistance area to watch is .25 and then the 52 week high @ .29. If these are broken we are looking for .50-.75 area. If earnings are released during this period.. the stock could sky rocket even more as we are looking for some very positive numbers.
We will buy IGII with limit .23 on 05/11
Interersting ... very interesting ... but be careful. The company does not have nearly that amount of working capital. At the end of the last reporting period, it had $1.3 million and a huge amount of accounts receivable.
Also the company has only 4 major customers, and the company is recognizing revenue before it receives the money based on its stated standards ... see below. That being the case, it sheds great light on the financial condition (which is not nearly as good as having the cash) and the growth prospects (that revenue is already recognized, and there will NOT be linear growth from the existing contracts ... projected growth is now simply a guess about whether new contracts will be signed and 4 customers does not a track record make). Whenever I have to think real hard about what a balance sheet and report are telling me, I worry. :-\
From The 10KSB:
"The Company was able to increase its current assets from $4,630,471 in 2004 to $12,552,268 in 2005. Accounts receivable accounted for part of this increase. The cash position of the Company also improved in 2005 to $1,297,449 from $8,421 in 2004.
We currently have four (4) major customers, Knowledge Institute, the State of California, the Government of Nigeria, and IDC of Johannesburg. Our accounts receivables from these major customers are as follows at December 31, 2005:
Corporate Affairs Commission (Nigeria) $ 3,731,729
State of California 2,632,500
Industrial Development Corporation - South Africa Initiative 4,250,000
Knowledge Institute 1,550
$ 10,615,779
We recognize revenue in accordance with Statement of Position, or SOP 97-2, Software Revenue Recognition, as amended, by Staff Accounting Bulletin No. 104, Revenue Recognition. The Company adopted Emerging Issues Task Force Issue No. 00-21, Revenue Arrangements with Multiple Deliverables. We recognize license revenues when all of the following criteria are met: persuasive evidence of an arrangement exists, the fee is fixed or determinable, collection of the related receivables is probable, delivery of the license has occurred and the customer has accepted the license (including the expiration of an acceptance period) if the terms of the contract include an acceptance requirement. Licenses are considered delivered once a license agreement has been entered into between the customer and the Company. Actual access to the software, due to the web nature of the software, is provided upon a mutually agreed schedule but the license fee due at time of conveyance and is not contingent upon the customer providing the hardware, staff for training or scheduling conflicts in general. Training and installation are included in the license fee in some cases and can be delivered at any time after the license has been conveyed. The on-line training (Virtual Trainer) is included at the time the license is conveyed and is available for every page in the System. No formal training on System use is required or provided. Trainign is generally restricted to System administration training. A portion of the year one license revenue and any subsequent years licenses are amortized on an annual basis commensurate with the start of the license agreement and then each subsequent anniversary date of the license and recognized generally in 12 periods (months) per year. The revenue recognition policy is as follows; 65% of the year one license recognized upfront to cover the costs related to the installation, testing, training and the initial investment/purchase of the license of the System. This revenue is recognized in month one. The original agreement on the purchase of the license of System was to be paid within a payment schedule over a period of time in order to recoup implementation costs. It was agreed that on an average taking 65% license fee would cover this cost, the initial expenses of the employees time on business development which includes assisting the customer with public awareness and providing initial marketing assistance and guidance in developing a list of prospect sub-license candidates as well as presentation assistance for the same and initial profit for the license sale. The balance in deferred would be maintenance costs for the remainder of the first year and gross profit. The average contract length is five years. As stated in paragraph 27 of SOP 97-2, the customer intends to utilize the system over that period of time as an integral part of their overall operation and as such can continue to be reflected as fixed or determinable. The length of time that a customer is projected to bring invoices current is 12 months and believed to be atypical for these types of contracts but is expected by management to reduce in time to no more then 9 months to be brought current at such time as our receivables become part of the customers accounts payable system. Based on paragraph 28 of SOP 97-2, our contracts are generally long term (greater then 12 months and payments on invoices are not expected to be longer than 12 months, the fee is therefore recognized as fixed and determinable as set forth in paragraph 28.
Has anybody had his limit order at $0.23 filled yet? IGII touched that price several times today but the volume seems too low to get our orders filled.
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=21090;image)
I got my intial order filled, but it was very small. I put in an additional order a short time later when it was still in the same price range, but it wasn't filled.
My order was not filled at all. >:(
No fill for me yet.
Could it be that there are simply not enough sellers out there?
Take 50 3SOF members, each wanting to buy IGII at $0.23 for $5,000. That would be 1,087,000 shares, a lot more than have been traded so far today.
In my absolutely worthless opinion, I think most OB and certainly lightly traded stocks should only be enetered into if the fundamentals are so astonishing that future pps rise is "inevitable."
I am convinced that otherwise, the upward pressure from SOF buyers is what drives the price and then returns to no one around. Good call with 23 limit today because of that, but I bet the reason igii is trading at 24 is just because there are lots of SOF 23 buys waiting out there!
As a whining aside, I am at an all-time low cashwise. I seem to pick the wrong subset of recommendations and/or (and this has been more damaging) I buy SOF after the recommendation at higher prices only to watch them pull back. CHID is a prime example, though I'm willing to hold given the confidence expressed by our mentors.
Does not sound like enough liquidity in that stock. This volume at these low prices is not much money in a market. (http://z16.org/forum/images/smiles/Yawn.gif)
I don't think 3SOF bought this one... not enough shares..
I had my order filled at .231, which is what I used for my limit. Only ordered $1,000 worth though.
Mine filled first thing this am at a limit of .23, like trexkerry I only started with 1000 shares as an entry.
Hey guys.. we did not get our order executed on IGII. We are still trying to buy IGII for the 3SOF portfolio and I will update later with what order we are trying to use.
IGII is acting just like a strong fundamental stock should.. not many sellers for our limit order even though this level puts most of this years IGII investors in profit. The team talked about it tonight.. we still think we have a shot to pick up this stock with a nice limit order.
We will buy IGII with limit .245 on 5/12
Well IGII continued higher and we did not pickup our position yet.. although this could gap and run as we are getting close to .29 breakout we must be disciplined and try again to pick up with a nice limit order.
We will buy IGII with limit .265 on 5/15
I am beginning to wonder if it us 3SOF members driving up the price every time it touches our buy limit of 0.265. All I want is 25,000 shares, and still not filled. I see the bid at .026 just now, ask at .027; perhaps there is still hope for today.
mine filled! ---18,500 shares at .265
It's joining IVHG and WDPT as my only green for the day in an otherwise ugly RED portfolio day!
I've got a partial fill, a little more than half of what I want.
Remainder filled at 12:11
I am not sure the reason to be in a hurry to buy.. will they have some news coming soon?
Seems to me is it better to buy a bit lower like near the 9-day perhaps at 0.22
am I missing some important event soon to come?
There was news today....
IGII filed their Form 10QSB
There are too many words in this filing and I am too overweled by the bearish action these past days to care anymore :-\....
http://biz.yahoo.com/e/060515/igii.ob10qsb.html
an summary would be nice...
Cheers ;D
B
update IGII:
So we finally got IGII. I have not had a chnace to look at any releases but nevertheless we will see how the market percieves them. Volume continues to come in nice as we head for the key .29 breakout.
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Position: bought IGII @ 0.265 on 05/15/2006
Order: Hold
Exit: n/a
Target: n/a
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What the hell is giong on???????? 33% drop on the opening!!! ???
They did not like the earnings... I oulled the trigger on this one... :-\
An extreme reaction to earnings >:(.. stock seems to be recovering..
I think I am beginning to understand why some people say they never hold through earnings.
What's going on? A good entry for me at .1664. :P
My order got filled at $0.20 but I don't know if this is good, or bad.
updated sheet
So, is this stock still "on fire", it seems to me that the market has lost interest in buying IGII due to the earnings release. What is more likely, a drift back down to the $0.15 area or a breakout of the $0.29 resistance?
IBSG International Announces First Quarter 2006 Financial Results; First Quarter Revenue Tops $2.1 Million; Seventh Straight Quarter of Profitability; IBSG International Will Host a Conference Call Today at 4:00 P.M. Eastern
Tuesday , May 16, 2006 10:18 ET
CELEBRATION, Fla., May 16, 2006 (BUSINESS WIRE) -- IBSG International, Inc. (OTCBB:IGII), a holding company for four technology and software subsidiaries, announced today its financial results for the first quarter 2006.
Revenue for the three months ended March 31, 2006 reached $2.1 million, almost double the $1.1 million for the first quarter of 2005. Most of this additional revenue came from the Company's international business. IBSG International also had deferred revenues for the latest quarter of over $900,000.
In first quarter 2006, the Company had operating expenses of $900,000, almost exactly what they were in the same period of 2005; there was a $6,000 increase, which was primarily the result of establishing the technical center in Ahmedabad, India in February 2006. As a result, IBSG International reported an operating profit of $1.2 million for the quarter ended March 31, 2006 compared to $182,000 for the quarter months ended March 31, 2005.
The Company had other expenses of $1.1 million for the three months ended March 31, 2006 compared to other expenses restated of $32,000 for the three months ended March 31, 2005. The increase of other expenses for 2006 was due to the settlement of the debt and warrants outstanding, the sale of an asset and a provision for taxes. The loss associated with the settlement of the debt and warrants was $471,000. The Company also recorded a loss of $532,000 as a result of the sale of the CAC asset, on which the Company had recognized a total of $3.5 million at the time of the sale. The sale was for $4 million, of which $1 million is due in 2006 and the balance is due for each subsequent year over the next 3 years. This figure is reflected in the long-term receivable category on the balance sheet under assets.
Net income for the quarter ended March 31, 2006 was $112,000 compared to $150,000 for the same quarter of 2005 primarily due to the extinguishment of debt and warrants as described above.
Dr. Michael Rivers, CEO of IGII stated, "We are very pleased with our progress in the first quarter of 2006. Our revenue is growing year-over-year in a fashion that is both healthy and sustainable. The expansion of our Johannesburg project to cover the entire Union of South Africa may have seemed challenging, but it is up and running across that country, and it will contribute to revenues for the second quarter and beyond."
He added, "We are continuing our discussions with the Malaysian government to launch a similar project there, and our relationship with BAE through our purchase of A-Division in the first quarter will help ensure that we are in the running for other such projects globally. We expect the success that we are seeing in South Africa can and will be replicated elsewhere."
Rivers observed, "In the U.S., IBS Group has launched the implementation of our digital management solution for use within the state of Connecticut's Small Business Development Center network. This network is also capable of being replicated in other jurisdictions in the U.S., and we are exploring opportunities to do just that." He concluded, "IBSG International is on a trajectory toward significant growth this year as measured both at the top and bottom lines."
Management of IBSG International will host a conference call today at 4:00 P.M. EDT to discuss the company's financial results and achievements. Those who wish to participate in the conference call may telephone (888) 335-6674, from the U.S., or for international callers (973) 935-2100, passcode # 7399598 approximately 15 minutes before the call. A digital replay will be available by telephone for two weeks and may be accessed by dialing (877) 519-4471, from the U.S., or (973) 341-3080, for international callers, and entering PIN # 7399598.
3SOF should not bought this one in the first place... (DID NOT EXECUTED MANY TIMES)
1) 3SOF portfolio has 4 OB's & only 2 stocks trading in higher exchanges, what is going on?
2) & I thought 3SOF never ever hold now a stock through earnings after the DIET crashed.
This past week or so has been very depressing. I feel like I am just throwing fistfulls of money out the window. I know that the most everyone is in the same boat, so it's not necessarily bad stock picks, but still -- ouch! never feels good to throw away would-be laptop computers, trips to the beach, new cars, etc... :P
Let's pray for a rally!
AMEN.
Have a GRRRREAT DAY ALL !!!!
Quote from: Terliso on May 16, 2006, 11:21:16 AM
1) 3SOF portfolio has 4 OB's & only 2 stocks trading in higher exchanges, what is going on?
Remember... "Penny stocks is the bucket shops of our time". What always happens at bucket shops???
Ok.. the price movements in these stocks are not only very volitle but also designed to rope you in.. once they got you the price will move to shake you out. That's kind of how it works. Truth is this happens in every stock, but more so in pennies because they are small and can be manipulated. Run up.. then run down.
Quote from: Terliso on May 16, 2006, 11:21:16 AM
3SOF should not bought this one in the first place... (DID NOT EXECUTED MANY TIMES)
After IGII is down to $0.16 I guess it's not difficult to say that our timing was bad on this one.
We bought IGII assuming 6.66% risk on our portfolio after analysing the risk/reward ratio like always, timing was really bad, but that happens and we assume that.
Quote from: Terliso on May 16, 2006, 11:21:16 AM
1) 3SOF portfolio has 4 OB's & only 2 stocks trading in higher exchanges, what is going on?
My view on this is that 3SOF has only about 40% exposure on the market right now, and few days ago we had about 90%. Having 4 OB's is not common on 3SOF, but it happened before, nothing is happening, we followed our trading plans, and we sold out all positions that have triggered the stops, we held our OB's assuming they would not follow the general market, and off course because we have good expectations on them.
Quote from: Terliso on May 16, 2006, 11:21:16 AM
2) & I thought 3SOF never ever hold now a stock through earnings after the DIET crashed.
3SOF held several positions through earnings after that trade on DIET.
It's been some bad performance days for 3SOF Portfolio, it happened before, and I'm sure it will happen again, except if we stop trading stocks. It's difficult to deal with such days...
My best regards,
For people who doesnt want to hold through earnings we should post the date of the earning call in advance...so then everyone can decide whether to hold or to sell or buy back later.
I also thought it was decided in some rules that 3sof won t hold through earnings but i can t find it anymore...Thanks
Quote from: ket1390 on May 16, 2006, 01:32:33 PM
For people who doesnt want to hold through earnings we should post the date of the earning call in advance...so then everyone can decide whether to hold or to sell or buy back later.
I also thought it was decided in some rules that 3sof won t hold through earnings but i can t find it anymore...Thanks
Hi Ket,
I wish that was possible but it is really the exception to the rule that OTC stocks announce the date for their earnings release. That is kind of the charm of Penny stocks - you never know what the next day brings ;)
Penny stocks are very risky and until I joined 3SOF I wouldn't touch them and it is only the last couple of months when I have been holding more than one at a time (that was after eliteG had a serious talk with me :)). I have decided to reserve approximately 10% of the money I have in the market to invest in pennies and to be honest I have earned more money on those 10% the last couple of month than I have earned on the 90% invested in "solid" stocks. It really comes down to the risk/reward ratio. Don't invest in pennies unless you are willing to absorb the loss on a day like this and always remember to diversify you portfolio.
Concerning IGII the earnings are not bad. It seems the market has decided to take profit. I am concerned about the accounts receivables but that is an old story. When you deal with goverments and do business in Africa you need to have a bit of patience.
update IGII:
IGII released earnings today(unannounced beforehand) and for some reason had a sell-off. This move was harsh but a very normal % penny move. Even the best fundamentally backed pennies can have these moves.. it comes with the territory and most of our members are very experienced with the the risk/reward associated with a penny position.
The team talked about IGII and we believe it has a good chance of bouncing right back and even heading higher. Cesar wrote a great analysis:
"I've listened to the Conference Call and got this:
- $16 to $17 M revenues expected for the full 2006. $8 to $9 M in net income. Net income is such a high percentage of revenues because the company is just replicating and selling something that was previously build.
- $32 to $35 M in revenues expected for fiscal 2007 and about $16 M in net income.
- At this moment the company has contracts with the government of South Africa and 9 states in North America. It expects to sign contracts with Malaysia (larger than South Africa) and Brunei and more 12 North American states in 2006.
- It is also in talks with Dubai, India, Saudi Arabia and the UK.
- Over time recurring revenues will surpass one time revenues, but for 2006 he expects recurring revenues to be just 20% of revenues, for 2007 25% and so on.
Here's what I think: since there are about 200 countries in the world, and the company still just sold its product to one, the potential is huge. As more and more countries join this technology/software, more will want it, so the company may be selling it for several years to come, maybe 10 years or more, so one shouldn't think of it as a one time event.
The CEO also talks about $1M/month in recurring revenues from South Africa and Malaysia (each), $300,000/month from Brunei. From what I've perceived, it costs $20 a month for each company to join the program, something like that. This gives you $2.3M in recurring revenues per month, or $27.6 M a year from these three countries alone in the future.
Well, just stick with this number: $8.5M in net income in 2006, $17 M in net income in 2007. Apply an earnings multiple of, say, 8, and you get $0.93 for price per share in 2006 and $1.87 in 2007.
I believe people selling today were wrong. The stock is set to break $0.29 on the upside soon" http://www.otcbbcoverage.com/stocks/index.php?topic=30.new#new
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Position: bought IGII @ 0.265 on 05/15/2006
Order: Hold
Exit: n/a
Target: n/a
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update IGII:
Although IGII seems to be an overwhelming undervalued stock the price has headed south after we were surprised by earnings. We will try to maintain a postion but need to have an exit strategy. So we will use a sell if set to close below .20.
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Position: bought IGII @ 0.265 on 05/15/2006
Order: Hold
Exit: sell if set to close below .20
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1 question....
Is the maximum loss for 3sof remains the same @ -30.00%?
Thanks..
well a .20 it'll be a 24.5% loss and they are gonna stop it at that.
So, is this thing considered stopped out now that it prints a low of 0.198?
In time of late stage bull market as big cap is in favor over small cap, are the team thinking of moving up the marker-cap scale?
they said if the closing price is under .2 they would sell. i don't think its possible to set a stop loss for OTCBB stocks so i'm sure they still have it. They seem to really like the fundamentals and value of igii to get rid of it even if it stays stagnant for a while. Me on the other hand, am not as patient hehe.
If it is "set to close" below 0.20. I take this to mean "if it looks like it will close below 0.20".
Less than 30 minutes to go. Time to take out my crystal ball, rub it and see what it will show me.
I think I take no action on it today. If it closes below 0.20 then I sell it at the open tomorrow, if 3SOF sells it today.
fyi:
bellwetherreport.com: The Bellwether Report takes a closer look into IBSG International, Inc
Thursday , May 25, 2006 03:58 ET
May 25, 2006 (M2 PRESSWIRE via COMTEX) -- IBSG International, Inc (OTCBB:IGII), is a company that our research team will be tracking over the ensuing weeks. They recently came out with a significant corporate development, causing a market stir. The BWR Research Team will continue to bring its subscribers cutting edge research tools, and second to none customer service.
IBSG International, Inc a holding company for four technology and software subsidiaries, announced a couple of weeks ago, its financial results for the first quarter 2006.
Revenue for the three months ended March 31, 2006 reached $2.1 million, almost double the $1.1 million for the first quarter of 2005. Most of this additional revenue came from the Company's international business. IBSG International also had deferred revenues for the latest quarter of over $900,000.
In first quarter 2006, the Company had operating expenses of $900,000, almost exactly what they were in the same period of 2005; there was a $6,000 increase, which was primarily the result of establishing the technical center in Ahmedabad, India in February 2006. As a result, IBSG International reported an operating profit of $1.2 million for the quarter ended March 31, 2006 compared to $182,000 for the quarter months ended March 31, 2005.
The Company had other expenses of $1.1 million for the three months ended March 31, 2006 compared to other expenses restated of $32,000 for the three months ended March 31, 2005. The increase of other expenses for 2006 was due to the settlement of the debt and warrants outstanding, the sale of an asset and a provision for taxes. The loss associated with the settlement of the debt and warrants was $471,000. The Company also recorded a loss of $532,000 as a result of the sale of the CAC asset, on which the Company had recognized a total of $3.5 million at the time of the sale.
The sale was for $4 million, of which $1 million is due in 2006 and the balance is due for each subsequent year over the next 3 years. This figure is reflected in the long-term receivable category on the balance sheet under assets.
Net income for the quarter ended March 31, 2006 was $112,000 compared to $150,000 for the same quarter of 2005 primarily due to the extinguishment of debt and warrants as described above.
Dr. Michael Rivers, CEO of IGII stated, "We are very pleased with our progress in the first quarter of 2006. Our revenue is growing year-over-year in a fashion that is both healthy and sustainable. The expansion of our Johannesburg project to cover the entire Union of South Africa may have seemed challenging, but it is up and running across that country, and it will contribute to revenues for the second quarter and beyond."
He added, "We are continuing our discussions with the Malaysian government to launch a similar project there, and our relationship with BAE through our purchase of A-Division in the first quarter will help ensure that we are in the running for other such projects globally. We expect the success that we are seeing in South Africa can and will be replicated elsewhere."
Rivers observed, "In the U.S., IBS Group has launched the implementation of our digital management solution for use within the state of Connecticut's Small Business Development Center network. This network is also capable of being replicated in other jurisdictions in the U.S., and we are exploring opportunities to do just that." He concluded, "IBSG International is on a trajectory toward significant growth this year as measured both at the top and bottom lines."
Earlier today they announced that the first South African businesses to utilize IBSG's economic development trading platform are now online. The recently installed platform is fully operational, and it is projected by the SA government that, over the next three months, a substantial portion of the 100,000 Small-Midsize Enterprises (SMEs) in Johannesburg alone will be operating on the system based on IBSG's BizWorld Pro(TM). The initial focus will be the over-32,000 SME mining vendors. There are an estimated 250,000 registered SMEs in South Africa, which are expected to come on line over the next 6 months. The Company projects that as the project begins to generate substantial monthly revenue, the continued surge of revenue from larger national contracts will be less evident.
Dr. Michael Rivers, CEO of IBSG International, said, "We are very pleased with the progress we have made with the coordinated efforts of our in-country partners, Galaxy Five and IBSD, in getting this system up and running. In getting this job done, we relied on BAE Systems as one of our funding sources, along with the South African Department of Trade and Industry (DTI) and its Industrial Development Corporation (ITC). Because we are engaged in a long-term relationship with BAE Systems (BAE) through our recent purchase of its subcontractor A Division International IT, we will be able to use this as a model for future systems to be created in other developing countries as part of BAE's numerous offset credit projects around the world.
Mr. Jan Heyneke of Galaxy Five stated, "This project was originally intended to serve the Johannesburg region, but at the request of the DTI and ITC, we expanded it to cover the entire Union of South Africa. In doing so, we increased the value of the system and the vendor improvement program to the users and to the entire country of South Africa, boosted potential revenues to both Galaxy Five and IBSG International, and proved the scalability of the system and the vendor program."
IBSG International, Inc, has not had much success so far since the release of their financials as they have traded down over 25.0% on fairly strong volume. Currently trading at $0.21 this company is trading down on volume of already 4 times the daily average as investors sell off their shares. With a strong working interest in a 640 acre property, I feel this company is very undervalued and could become a great trading opportunity. However, the company has a lot of work ahaead of them as it will be interesting to see what happens next The BWR Research team continues to follow the market sentiment on this company and numerous others.
EMA (50) as TA support (0.191$) vs. 0.199$ ;)
update IGII:
We had to follow our plan and sell IGII on Friday.. we only got partially filled and we will look to sell the rest on Tuesday. IGII remains a great value here but this is the fire portfolio and no one can say this stock is on fire right now. Time to move on and put this money to work for us.
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Position: bought IGII @ 0.265 on 05/15/2006
Order: Sell
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just FYI:
Cesars update:
http://www.otcbbcoverage.com/stocks/index.php?topic=30.60
today will be interesting IMO
:o
Seems to be heading up. Might want to put it back on you're watchlist
Press Release Source: IBSG International, Inc.
Alabama is First Gulf State to Sign IBS Group Agreement Under Gulf Coast Revitalization Project
Monday June 12, 8:30 am ET
CELEBRATION, Fla.--(BUSINESS WIRE)--June 12, 2006---
Over $700,000 in Gross Revenues over 1st Year of Operation,
IBSG Waives 1st Year License Fees as Part of Disaster Recovery
Consideration for Small Business Development Centers
IBSG International, Inc. (OTCBB:IGII - News), a holding company for four technology and software subsidiaries, is proud to announce today that its subsidiary, IBS Group, Inc.(IBSG Group), has initiated a Gulf Coast Revitalization Project in consideration of those states heavily impacted by last year's hurricanes, and with the approval of the US Small Business Administration's Disaster Recovery team. IBS Group will waive first year license fees, valued at $100,000 for each state participating, as their contribution to the Gulf Coast recovery effort.
Alabama is the first such state to sign a formal agreement with IBSG under the Revitalization Plan, and is expected to generate $6.9 million in revenues to be shared between the Alabama SBDC and IBSG over the life of the five-year agreement. Although no assurances can be given, management anticipates that during the first 12 months of operation, shared revenues based on a percentage of the estimated 86,000 businesses, according to the state of Alabama's statistics, is expected to exceed $700,000.
Hurricane Katrina has caused widespread devastation to the Gulf Coast states, displacing tens of thousands of small- and mid-sized businesses and over 100,000 employees. Those state Small Business Development Centers participating under the Project will utilize IBS Group's digital enterprise service center platform as the key tool to revitalize their small and mid-sized business communities.
Good accumulation! Anyone else following this?
laterz...Jody
VOLUME! :o