ITSI: Company going private. 1 - 9,245,317 R/S resulting in a delist; shareholders with less than 9,245,317 pre-split shares will receive $1.33 per share.

FINRA deleted symbol.

http://otce.finra.org/DailyList

No dates in the filings. There was a PRER14C filed March 25th which is a preliminary information sheet to shareholders explaining the process but all dates have place holders.

It says the reverse split will be effective 20 days following the official mailing.

No, sorry, I took $1.29 for my shares a couple months ago and haven't looked back.

Any idea when the deal is going through?

No doubt, I say watch for the ITSI DE IPO in 2 to 3 years from now for a multiple 5x or more than the just paid for it....ugh!

...oh well, off to the next one.

I know the point is moot now, but here is the full commission report:
https://www.supportthevoter.gov/files/2014/01/Amer-Voting-Exper-final-draft-01-09-14-508.pdf

It discusses the impending voting machine crisis.

Also, Marion county tabled their plans to buy new machines:
http://www.indystar.com/article/20140122/NEWS05/301220024/Marion-County-holds-off-voting-machine-upgrade


I think this would have been a huge winner over the next few years, it's obvious why they would want full ownership right now. Such a cheap buyout.

They really timed it right too, this would have run much higher in the coming months IMO.

At least wish this would have happened a week or so from now. I still had orders in for more.

Yeah, it's kind of a robbery, ...and there goes my plan to visit a Berjaya tropical island resort when the price hit $5, lol!

A "take under" was my only fear of holding this company, but since Berjaya had kept them public for more than 15 years, I thought for sure they had some better plan to realize the value of this company in the public market. Surely if Berjaya had let go of their majority and issued some shares to a strategic partner fears of this kind of thing would have been allayed, and the market would have given them a much higher multiple.

In the end, I guess the complete lack of insider activity should have been a sign of the lack of vision for this company.

....now keep an eye out for an ITSI DE IPO in the next few years IMO.

The price is really a joke. But I will take it.

They really got a bargain here. Someday we may vote on Unisyn machines and taste regret. Profit is profit, though. Better up than down.

Grats to all who got in recently. You too, Zen. Despite what you hoped for, this is at least validation of your opinions.

Bought out for 1.33 http://biz.yahoo.com/e/140109/itsi8-k.html

delete triplicate

delete duplicate

We're up over 25% this morning and no one has anything to say? Zen? What's going on?

Good to see Open Elect 1.2 got certified. From my reading, I think Unisyn has an advantage over the competition for allowing ballots to be printed on demand, which is an advantage for early voting and the "Voting Center" model where the process would be inefficient if the poll worker had to sift through stacks of pre-printed ballots to find the right one. This from Section 1.1 of the Test Report indicates the new version Open Elect enhances some of that functionality:

This modification includes the addition of key items to base level functionality that improves the general
usability of the system for both current and potential customers. These additions include improved
flexibility of generating ballot PDFs, including adding of custom artwork to ballots, increasing the
number of layout options for candidate data, allowing both left or right hand side targets, improving the
efficiency for loading election data on the in-precinct units, improving the look and usability of election
night reports, and enhancing generally the usability of the system. Hardware changes were introduced to
the OVI-VC, and a new collapsible portable ballot box was introduced for the OVO.

True that all the competition has submitted an REI in Marion County, but with Marion County interested in migrating to a Voting Center model, I'm hopeful these modifications and RBM's position as the incumbent will work to Unisyn's advantage.

Also direct link to the REI responses, since it is no longer accessible on the front page that you linked:

http://www.indy.gov/eGov/County/Clerk/Election/Documents/2013-REI.pdf

I think that RMB's is the most coherent of the group. It's funny to me that MicroVote's is hand written.

The current certified voting systems in Indiana:

http://www.in.gov/sos/elections/files/Voting_Systems_Certified_in_Indiana_11-26-13.pdf

Those are really the competitors for the Marion contract. I personally think it will be tough, but a huge win if we can break in here.

http://www.in.gov/sos/elections/files/2012_Voting_Systems_Used_by_County.pdf

OpenElect 1.2 has been certified by the EAC:

http://www.eac.gov/assets/1/Documents/Decision.Authority.Grant.of.CertFinal-12.23.13.pdf

Should see a PR about that soon, like the last few updates.

ITSI earns $.15 per share in Q2:

http://www.sec.gov/Archives/edgar/data/354813/000035481313000018/ilts10q2fy1431oct13.htm

That would be a nice contract to bring some attention to this company's voting business and would also be a nice boost to the backlog.

Really, I think it is just the tip of the iceberg as the bipartisan Presidential Commission on Elections Administration is due to file their report by the end of December. From their last public meeting, the survey they issued to local officials shows aging equipment it the biggest concern by far.

While it is a contentious issue, as Obama's interview with Chris Matthews last week showed, I still think at a very minimum, both parties will be able to agree to throw a few billion at new voting equipment:
http://www.msnbc.com/rachel-maddow-show/obamas-weak-response-voting-rights

Thanks Zen. Good stuff as always.

Great DD Zen! Thanks for continuing to turn over the rocks on this one. Earnings should be out by the end of the week...

Great DD Zen! Thanks for continuing to turn over the rocks on this one. Earnings should be out by the end of the week...

ITSI's partner, RBM Consulting, the incumbent Election Services contractor in Marion County, Indiana (Indianapolis, IN) has responded to a Request for Expression if Interest (REI) for Election Systems and Services, which includes more than $6 Million of Unisyn Voting equipment. Click on the "Click here to view responses received" link and scroll down to page 124 to see RBM's list of recommended equipment:

http://www.indy.gov/eGov/county/clerk/election/pages/home.aspx

As the incumbent, they hopefully have a good idea what the county wants, they have a few good case studies on implementing "voting centers" in Indiana, & they have a very well-written proposal as well. While they are one of six, I think their odds are better than 16%.

Berjaya, has been actively capitalizing, divesting, and listing subsidiary companies over the past several months, it would be great to see ITSI come into this frey....with a P/E of 4.....there is a good case to bring little ITSI out of hiding:

http://www.forbes.com/sites/neerjajetley/2013/11/27/billionaire-vincent-tan-plays-hide-and-seek-on-the-bourse-whats-his-game-plan/

Tan has a slew of other companies ready to float. He plans a dual listing for his online payments company MOL Global to raise as much $300 million next year. Next in line is Cardiff City Football Club and a business trust for his gaming company Berjaya Sports Toto Bhd.

Then this news Monday that Sport Toto is cancelling its secondary listing in Singapore:
http://in.reuters.com/article/2013/12/02/malaysia-berjayasportstoto-ipo-idINL4N0JH37320131202

Notes from the last public meeting of the PCEA

Webcast is available here:
http://new.livestream.com/accounts/1447444/events/2592251/feed_embed

The meeting was primarily a review of the PCEA's work to date, broken into two primary presentations:

1.) Nate Persilly performed a comprehensive review of issues brought to the commission during the past year of public meetings.

2.) MIT Professor Charles Stewart reviewed results of a survey of all the local elections officials in the U.S. (~8,000 jurisdictions).

Highlights of discussion of technology and more specifically, voting machines:

00:21:45 - Nate Persilly summarizes the issue of aging voting machines, highlighting the worries of the lack of funding for new machines and the possibility of a widespread breakdown of voting machines.

00:54:00 - Charles discusses costs of elections administration and mentions that he recently computed that they did a back of the envelope calculation of the cost to replace all voting equipment would be about $3 Billion dollars.

01:21:00 - Discussing the reasons for long lines, they asked "Over the next five years what areas of election administration are in significant need of improvement?" - Local officials primary response was that "Voting tech & voting machine capacity" were the primary concern.

1:26:00 - discussing the above finding, Nate notes that it's an overwhelming response considering there were 19 options to answer the question. Charles notes that 1/3 of the rank and file realize voting machines are a big issue and makes a good point that "it's a significant thing suggesting that when the voting machine issue gets bigger there is already a seed planted in the rank and file to accept this challenge of renewing the voting machines over the next 10 years".

The Commission is required to prepare a final report of the findings and recommendations by the first of the year.

PCEA Meeting Livestream available here:
https://www.supportthevoter.gov/commission-meeting-livestream/

12/3/2013 PCEA Meeting scheduled, the notice says the meeting will be webcast, but I don't see any further details on that yet:

https://www.federalregister.gov/articles/2013/11/19/2013-27675/the-presidential-commission-on-election-administration-pcea-upcoming-public-advisory-meeting

Thank you as usual Zen!!

Anyone else listen? The CC was basically a summary of all the issues raised by local officials during public meetings that members of the PCEA attended throughout the year. Unisyn's event schedule indicates they were at a couple of the meetings the PCEA discussed during the CC (IACREOT, The ELECTION Center):
http://www.unisynvoting.com/company/events.htm

There were no ground breaking revelations, but a lot of repetition of the same major concerns that have been highlighted in the news releases about their meetings I have posted including "aging equipment....end of life cycle....lack of HAVA funding for modernization." If they post a replay of the call, I suggest you give it a listen and play a drinking game with those three phrases quoted above, I doubt you'll make it through all two hours of tedium, but come away looking for any publicly traded e-poll book or voting machine company you can find to invest in! :)

The PCEA CC tomorrow @4 p.m. might offer some insight into the commission's forthcoming recommendations to "improve the election experience for all voters", which are expected to be published in December.

WASHINGTON, October 30, 2013 — The Presidential Commission on Election Administration will convene a public conference call on Thursday, November 14, 2013 beginning at 4:00 p.m. Eastern Time ending no later than 6:30 p.m. The teleconference is open to the public; interested members of the public may listen to the PCEA discussion using 1-888-606-9808 and pass code 7036450. Members of the public will not have the opportunity to ask questions or otherwise participate in the teleconference.

Is it just me, or does providing more voting machines seam like the most logical answer to reduce lines at the polling places? ITSI's subsidiary, Unisyn Voting Solutions, is the only publicly traded voting machine company. The Help America Vote Act of 2002 had $3 Billion of funding tied to it:
http://www.ncsl.org/research/elections-and-campaigns/hava-funds-fact-sheet.aspx

I can't believe this stock trades with a P/E under 5 at this point. I will not sell any shares of this stock at a single digit P/E.

I think most of VA is "touch screen" machines with no paper trail. (Machines from Dominion and ES & S is my guess). People naturally don't trust the touch screen, and I have seen complaints from the VA election on Tuesday where people felt the screen wasn't recording their vote properly. There is a guy named Brad Friedman who does a "Brad Blog". He covers electronic voting systems in his blog but I think there isn't an electronic voting machine that he likes. I wonder if he is aware of these new Unisyn machines in Montgomery county? The Unisyn machines seem like a nice compromise between technology and paper. I would be nice this machine start to proliferate throughout VA. System administrators shouldn't focus on the price tag of the voting machine, but rather on the integrity of the system.

Wow - quite an endorsement!

ITSI's Unisyn Voting machines are a hit in Montgomery County, VA! This attached video provides a nice little walk through of how the machine functions:
http://www.wsls.com/story/23876024/new-voting-machines-in-montgomery-county

Thanks Zen for the PM. Good stuff from you always!

ITSI: Franklin County, MO approved the purchase of ~$400k of voting machines sold by ITSI's partner, Adkins:

http://www.emissourian.com/local_news/county/article_b4753a43-842b-57e2-ada4-7eefae04378d.html

ITSI's voting machine division, Unisyn Voting Solutions, made a $400k sale in Franklin County, Missouri through their partner, Adkins Election Services:

http://www.emissourian.com/local_news/county/article_03a7cdbb-ea22-54a8-8909-b26e4b4747cf.html

Bid for New Franklin County Voting Machines Exceeds $400,000

Posted: Thursday, October 3, 2013 2:00 pm
By Josh Mitchell, Missourian Staff Writer

The Franklin County Commission on Tuesday took under advisement a $414,322 bid for new voting machines.

It was the only bid the county received for the equipment, and it was from Adkins Election Services of Clinton.

County Clerk Debbie Door said she was disappointed no one else bid and said the cost was a little higher than she expected.

However, she said she should still be able to make it work with her budget. The company’s bid of $414,322 is the amount after the county trades in its old equipment for $65,168.

If approved, the new equipment would be available for the next election in April, Door said, adding that she hopes it could last 10 years.

The new equipment is needed because the current machines are becoming outdated, according to Door.

The county also has to be ready for any changes in election law, Door said. There were about 70 election reform bills in the last session of the Missouri Legislature, she said.

“There’s a lot of election reform going on all over the country, and we have to make sure we keep up with it,” Door said.

She noted that voter ID and early voting are two of the bigger reforms being discussed, and the county must have equipment that complies with state and federal guidelines.

“We have to go with (equipment) that is certified by the state,” Door said.

Just like any other technology, the county’s election equipment cannot last forever, she said. The county has had its current election equipment since around 2004.

The printers in the machine that provide the vote totals have failed in some cases, and the replacement parts are getting harder to find, according to Door.

Likewise, some of the scanners that voters insert their ballots into have rejected ballots or required voters to insert them multiple times.

Even with the problems, Door said votes have not gone to the wrong candidate.

But she said she would not want to go through another presidential election with the current equipment, noting that she runs a “smooth and clean” election.

“There’s just some mechanical things that are starting to cause problems,” she said.

Voters without disabilities will continue to vote in the same manner, which involves filling in a paper ballot and then inserting it into an optical scan machine. Voters with disabilities would continue to use a touch-screen ballot with the equipment that was in the bid Tuesday. The new handicap-accessible voting equipment will have some upgrades, Door said.

The bid covers the cost of 57 optical scanners that voters insert their paper ballots into, 57 handicap-accessible voting machines, software and services.

County commissioners may consider approval of the bid next Tuesday.

To pay for the equipment, Door said she has about $150,000 between her Help America Vote Act Fund and her election services fund. Also, she said she has about $100,000 in a contractual services fund. She said she will use as much as she can out of those funds to pay for the new equipment.

Any balance would be covered by financing the equipment over three years with no interest, Door said, noting that the equipment would be fully paid off by Dec. 31, 2015.

Cities pay the county 5 percent of the cost of an election, and that money goes to the election services fund. Cities also pay the county a fee for using the election equipment, and that money goes to the HAVA fund.

Yeah buddy!
Touch-Screen Voting Approved in Vigo County

9/19/13

The next time voters head to the polls in Vigo County their ballots will look a little different. Touch-screen voting is coming to Vigo County. Thursday, the County Commissioners voted unanimously in favor of the change. RBM Consulting will supply the new touch-screen voting machines. The move will cost the county more than $400,000 in 2014. That cost includes pre-election training, hardware rental, and the initial licensing agreement. In order to get these new machines the county had to break their contract with their current voting equipment supplier. It has yet to be determined if they will face a penalty for breaking the contract.
The commissioners say this move will make voting easier. "They also will be very voter friendly, so we're dry excited about that. It'll be a new concept. Anytime there's a new concept there may be a little confusion, but you know people work trough those things," Vigo County Commissioner Judy Anderson said. The Vigo County Election Board has also proposed moving to voting centers, rather than using traditional precients. Two public meetings on that issue must be held before a decision is made.


http://www.mywabashvalley.com/story/touch-screen-voting-approved-in-vigo-county/d/story/OTnzP4N7F0S2OIMkjcgSog

Polk County, Tennessee accepted a $140k bid from Unisyn's partner, RBM Consulting. This article mentions that the State of Tennessee provides funding of $10k per precinct and $10k for early voting.:
http://www.polknewsonline.com/2013/09/21/Top_News/Election_machine_bid_accepted/12373.html

There are more tidbits of news out there, but unfortunately nothing really comprehensive that explains this state subsidy program in detail, but it looks like many of Tennessee's counties are vetting new voting equipment.

RBM selling the Vote Center model in Vigo County, Indiana; including 140 Unisyn Voting machines. This is a good read:
http://tribstar.com/local/x250211021/Board-backs-touchscreen-voting

September 10, 2013
Board backs touchscreen voting
Howard Greninger
The Tribune-Star

TERRE HAUTE — The Vigo County Election Board on Monday unanimously voted to recommend that the county switch to a touch-screen voting system and end its current contract with Election Systems and Software.

The recommendation goes before the Vigo County Board of Commissioners today.

“We are recommending a three-year rental” with RBM Consulting, Election Board President Michael Slagle said.

He said a move to vote centers in the May 2014 election will reduce the number of workers required, lowering costs to the county. “It will save the county about $1 million,” Slagle said.

The cost of new equipment required for touch-screen voting would be $693,117 for three years. The first year would cost $220,117, then $236,742 each of the next two years. RBM Consulting will purchase the county’s current voting machines, which reduces the overall cost by more than $16,600.

Vigo County Clerk Dave Crockett said the savings are over a seven- to eight-year period, with savings starting in the fourth year after the initial contract is completed. The savings will come once the county buys the equipment and then uses just service contracts.

“We have an ‘out’ clause in our contract, and if for some reason we like ES&S better, we can get out of the current contract,” Slagle said. “As we sit here today, they are not equipped to run voter centers” the way the county election board is seeking, he said. Slagle added printers for ES&S are not yet certified for voting centers.

Crockett said the concern is having to change equipment over the next three years, versus having new equipment from the start. Crockett said the touch-screen system is more user friendly to voters and poll workers.

The county will have some savings from not printing too many paper ballots at the start of an election, then discarding unused ballots, the county clerk said. “You don’t have to worry about printers not printing,” he said of the new touch-screen system.

The new voting system includes 140 touch-screen voting machines and 23 ballot boxes. It also includes 56 electronic poll books, Crockett said. The poll books will show vote center workers the voter’s precinct and will provide the correct ballot on the voting machine for that voter.

“Voters will not need a voter registration card, just a valid driver’s license or valid government photo ID,” Crockett said.

The voting machines are manufactured by Unisyn Voting Solutions in San Diego, Calif., Crockett said. “We will not save a lot with the upfront costs of the equipment and services, but once we reach a buyout point, we will have savings because we will not rent or purchase the equipment,” Crockett said.

“I am hoping this equipment lasts 12 to 15 years,” the clerk added. “The savings is not having to rent or purchase equipment, just maintenance fees and services. If we are going to vote centers, we need to have a system for a full three-year election cycle and not be changing equipment in that cycle or after a year. It will make the transition easier,” the clerk said.

Crockett said Floyd, Montgomery and Jackson counties also will use the same kind of voting system, adding that other counties use RBM Consulting to conduct elections but do not use its equipment.

The Vigo County Election Board, Crockett said, will schedule a public hearing likely in the next few weeks as the first of two public meetings to establish vote centers. An example of the voting machine will likely be displayed at a public hearing, Crockett said.

The county is planning to have a vote center at the Vigo County Courthouse open for 28 days before the May primary election. Then an additional vote center will be open for two weeks before the election. One week before the election, an additional seven vote centers would be open.

On election day, the county will have 18 vote centers open for voters, Crockett said.

Thanks for sharing your DD, Zen!

The Presidential Commission on Voting met yesterday in Philadelphia, this article indicates a major topic was that school administrators are not willing to make schools available for polling places now (after the Sandy Hook tragedy). ITSI's partner, RBM Consulting should be well suited to help jurisdictions make this transition, as they have been working on a "Voting Center" model in Indiana, where voters would have a selection of polling places (i.e.: Malls, indoor sports venues, etc.) and an e-poll book would be used to track who voted where.

Here's the summary of the meeting from the Philadelphia NPR affiliate, WHYY:
http://www.newsworks.org/index.php/local/item/59346-election-commission-holds-hearing

RBM Consulting advancing Voting Center concept in Indiana:

RBM Press Release from 5/14/2013 about sale of e-Poll Books and Voting machines to Floyd County:
http://rbmvoting.com/wordpress/wp-content/uploads/2012/07/FloydCounty_RBMUnisyn_PR_May14.pdf

White Paper on Floyd County:
http://rbmvoting.com/wordpress/wp-content/uploads/2012/07/FloydCounty_CaseStudy.pdf

RBM sold the voting center concept in Vigo County and the County is now trying to get out of a contract with ES&S to allow them to purchase Unisyn machines:
http://tribstar.com/news/x1320120565/Vigo-Election-Board-establishes-18-vote-centers

http://mywabashvalley.com/fulltext?nxd_id=319002

Unisyn Voting machine Sales in Tennessee (by partner, RBM Consulting, LLC ):

polknewsonline.com

New voting system eyed

A new voting system may be in place in time for the next election. Election Commissioners discussed using the Openelect Voting Interface Vote Center (OVI-VC) during a special meeting held Monday afternoon. Election Administrator Steve Gaddis said applications for grant money from the state can be turned in beginning July 15 and he wanted Polk County to be one of the first on the list. Election Commissioners discussed using the Openelect Voting Interface Vote Center (OVI-VC) during a special meeting held Monday afternoon.

Todd Mullen with RBM Consulting was on hand with a proposal that included 15 units, 43 ADA keypads and headsets, voting booths, software, and training at a total cost of a little over $285,000. Grant money should cover 90% of the purchase cost. Once the units are shipped, Mullen said, technicians will come down to uncrate and unpack everything to ensure it is in tact and begin training. A total of five training days are included in the proposal, and technicians will come down for two elections to assist.

The OVI-VC units have touch screen voting and can print ballots on-demand and be reviewed by the voter before being submitted. Voters will be able to go back and correct mistakes before casting their ballot. Gaddis said another good point was that the ballots could be printed anywhere – at a print shop or even in the office – rather than having to be purchased from the company. Monroe and Hamilton Counties are said to be adopting this machine, as well.

According to Mullen, the voting process will be as transparent as possible for both the voter and the election office. An audit trail is available for anyone to go back and see what has been done on the machines since the beginning. He said outside viewers would not be able to see the original document, but could be sent files to show what had been done with each machine.

Commissioners will vote on the proposal at the July 11th regular meeting.

International Lottery & Totalizator Systems Installs New Lottery System for Sports Toto Malaysia

VISTA, CA -- (Marketwired) -- 07/12/13 -- INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS, INC. (ILTS) (OTCBB: ITSI) has successfully installed and launched the operation of its advanced DataTrakII lottery system for Sports Toto Malaysia Sdn. Bhd. (STM) in Malaysia. The lottery system includes new central system hardware and software and replaces an earlier ILTS lottery system which has been in operation since 2001.

"We are delighted with this successful installation and launching of the new DataTrakII lottery system for Sports Toto, the largest lottery operator in Malaysia," said ILTS President, Jeff Johnson. "The new DataTrakII system brings expanded features and functions to the operation of the lottery, and assists STM in continuing to offer the highest level of service to its customers."

ILTS gaming products are established industry leaders in terms of their speed, reliability, and stability and the new DataTrakII product represents the fastest, most efficient configuration ever offered by ILTS.

International Lottery & Totalizator Systems, Inc. provides computerized wagering systems, equipment and services to lottery and racing organizations worldwide. For more information, please visit http://www.ilts.com.

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This Act provides a "safe harbor" for forward-looking statements to encourage companies to provide prospective information about themselves so long as they identify these statements as forward looking and provide meaningful cautionary statements identifying important factors that could cause actual results to differ from the projected results. All statements other than statements of historical fact, including statements regarding industry prospects and future results of operations or financial position, made in this press release are forward-looking. We use words such as "anticipate," "believe," "expect," "future," "intend" and similar expressions to identify forward-looking statements. Forward-looking statements reflect management's current expectations, plans or projections and are inherently uncertain. Our actual results may differ significantly from management's expectations, plans or projections. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly release any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Readers are urged, however, to review the factors set forth in reports that we file from time to time with the Securities and Exchange Commission.

CONTACT:
Marketing Department
International Lottery & Totalizator Systems, Inc.
760-598-1655

Here is my summary of the ITSI 10-K for fiscal 2013. For the year they had $10.571M in revenue and earnings of $0.24. Earnings did have a significant income tax benefit. The backlog is very strong at $18.3M.

Looking forward I expect fiscal 2014 (ending April 2014) to be a banner year due to the backlog. I'm looking for revenue to be somewhere in the ballpark of $18M with diluted EPS in the $0.20-$0.30/share range. The earnings expectations would be a bit higher but they will start accruing taxes even though they will not be paying taxes. They could also have another income tax benefit which would further increase earnings.

The balance sheet is looking pristine. They have tangible book value of $0.65/share and cash of $0.66/share. After fiscal 2014, the balance sheet should look even better.

One other thing I believe we will see in fiscal 2014 is increased traction in the voting business segment.

Yes, they didn't lose much of that end of january backlog yet.

Looks like they didn't get into the backlog much yet, as I calculate it looks like they worked through $1.552M in revenue in Q4 and earned $253k net income, or 0.02 EPS.

"Contract backlog at April 30, 2013 was approximately $18.3 million. Of this amount, approximately $11 million was associated with a gaming contract executed with a related customer. The remaining contract backlog amount of approximately $7.3 million was related to gaming and voting contracts with unrelated customers. As of April 30, 2013, approximately $5.2 million of the contract backlog has been paid by customers."

10K filed

http://www.sec.gov/Archives/edgar/data/354813/000035481313000011/ilts10kfy1330apr13.htm

Great numbers coming.

I like this one here at these levels. I have high hopes for it.