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Mavnews over at RB announced about a month ago that he would not let the price dip below $.61
If anyone is reading the only other board on IMMG that I know and can post over there I would like to ask a question of rbisdead - that is that IMMG in their latest report stated that they had as of June 30, 2006 $4.6M in AR - this is curious since they had less than that amount in sales for the 3 quarters preceeding that date - the question: how could this be?
From the filing:
At June 30, 2006, we had liquid assets of $7.1 million consisting of cash in the amount of $406,000, accounts receivable derived from operations in the amount of $4.6 million, prepaid expenses and other current assets of $2.0 million and inventory in the amount of $477,000. Long-term assets of $9.8 million consisted primarily of intangible assets of $6.1 million deferred financing costs of $2.2 million and fixed assets, including computer servers, media players and video display equipment used in operations, of $1.4 million.
My one and only alias on the other board has been blocked after one post - the fix seems to in over there
Thanks Rocky - do you think they read this board? If not, is there another board that covers immg? I'll put something together and copy it here unless there is a better spot.
"The referred to agreement is exclusive to the client's Medicare line of business, was done without approval of the client, and is strictly against the client's policy with all vendors."
What in the world do they mean? Is it against their policy to make agreements or to announce agreements? If the former, they don't have an agreement: if the latter then they are releasing it again.
Will their converance call be transcribed? Are they taking questions?
Since they have abandoned the revenue model and are now focussing on their counter top video player perhaps they will sell off the ad agency and PATH. In the past they made fun of In Focus Media because they used CDRoms driven by bicycles to the locations, now they are sending out flash memory cards...
Thanks for the Nasdaq ref - but it's data is wrong - the whole outstanding is 22M but the data shows Lott owning 19M - - Corey, Laabs, and Martinez own about 6.5M - Muniz and Orourk another 1M - something is not right - I find it hard to believe that on a day of over a million shares traded not one insider traded or that no insider has made a trade since Jan. 10th - there were trades listed but they have been removed and the filing (10QSB) on about August 21 registering shares have big enough numbers that I would think they should be listed.
Data shows no institutional ownership but the filing mentioned above has one investment company that holds 750,000 shares and have options for more. Maybe since you are a stockholder you could ask them to update.
Go to pages 55 and 64 see ownership and newly registered stock.
http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?FilingID=4629253&Type=HTML
how are they treating with contempt?
insider roster on yahoo has 31.7M shares listed just for those holders and that would be about $17.7M market cap yet the market cap is shown as about $12.6M we know from filings that there are many other "major" holders (the PIPE investors) and general float - another 600K shares seems to have just been issued as options
Don't think the $200,000 is a big deal - of more concern is competence in finance arena - also wonder how they escaped mid September cash flow problem they stated having in a filing without a filing indicating how they got new money - maybe they made a bunch of money and didn't need to borrow or sell new shares.
About two months ago a bunch of trades previously listed as insider trades diappeared and ownership reverted to pre split numbers - Lott does not own 19M shares - I'm getting my numbers from Yahoo - if there is another location that has insider trades that occurred after Jan. 10th I'd be interested - hard to believe that 1.5M shares traded in a couple hours on the MSFT day with no insiders buying or selling - also they filed to register some shares at the end of August and some listed there would seem should make the list of major holders.
close at $.57 - sure would be nice to know if insiders bought or sold at $1.28 - still wonder why ownership and insider trade info is no longer current.
Effective July 31? How long do they have to release this info?
1-Nov-2006
Change in Directors or Principal Officers
Item 5.02 Departure of Directors or Principal Officers; Election of Directors
Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
Effective as of July 31, 2006, Mr. Thomas O'Rourke resigned from his positions as Executive Vice-President of Marketing and as President of the iPoint Networks division of our company. Mr. O'Rourke is an at-will employee of our company and was not party to a formal employment agreement.
Go to the company's site www.kitchenlabs.com. and read their FAQs - maybe they should start the campaign by redoing the FAQs and the rest of the site.
Capstar,
Is this Knobias group is a part pr company that is paid by Impart?
Does anyone know what this sale means - it sounds like they are selling countertop boxes that promote the products or maybe stand alone kiosks but not the concept of paid advertising from outside companies.
It would be so interesting to know who bought and sold after the MSFT annoucement? Why with 30,000 people they couldn't do their own box probably says more about MSFT than about the Impart product.
Excel - that information is not current about a month ago more recent information disappeared - Lott was bought down a while back - Laabs and Corey are the big individual owners
From SEC FORM SB-2 filing on August 29:
Steven Corey 3,111,749 13.81%
Laird Laabs 2,627,413 11.66%
David V. Lott 1,492,600 6.61%
Michael Medico 881,444 3.92%
Joseph F. Martinez 847,519 3.76%
Thomas C. Muniz 839,636 3.73%
Tom O’Rourke 486,250 2.16%
Todd Weaver 20,000 *
Larry Calkins 2,000
Joachim Kempin 8,000
Ronald Elgin*
Enable Growth Partners LP 2,358,488
Laurus Master Fund, Ltd. 780,000
Gryphon Master Fund, L.P. 1,290,324
GSSF Master Fund, LP 645,162
Hudson Bay Fund, LP 645,162
Pierce Diversified Strategy Master Fund LLC 483,872
Enable Opportunity Fund Partners LP 387,696
H.C. Wainwright & Co., Inc. 145,161
John R. Clarke 89,928
Charles Eissa 66,501
Michael and Betsey Brauser 66,501
Ari J. Fuchs 38,540
It will be interesting to see if the insider trading reportage reappears including those private placement investment companies that provided PIPEs.
Rocky:
I too read what JM wrote but still wonder why they didn't communicate directly with investors while putting out a pr that isn't so esoteric. As I said earlier the release has the feel of an insider that is angry that things aren't going well blaming the GAAP and corporate politics.
Do you know why the insider trading history was removed from Jan 10 to present?
David Lott is listed as the biggest owner but I thought he had been bought out.
Also, the big owners of stock aren't listed under the institutional category.
Watching the insider and major owners trade activity is probably the best single key outsiders have to figure out what's happening yet nothing has shown up for months.
Why would they put out this info in a press release and not the conventional methods?
They have an ad agency yet their press releases look as if they're written by a business school student at midnight after a few beers.
"...TV continues to lose its audience from the likes of TiVo, video gaming, Internet, OnDemand, and DVD's."
I think that would be to Tivo, video gaming,... not from
"Additionally, the business that is defined as the capital intensive revenue model..."
Do they actually call it their "capital intensive revenue model"? Maybe the ad agency could find a better term for this program such as - Premier Turnkey System - and announce that only the very best locations will be considered currently in order to balance out the various revenue generating programs...
"
"Despite the fact that the E&M revenue was historically recorded in this manner, for the past twenty (20) plus years under the guidance of the company's accountants, the company will continue to use the more conservative number of net revenue for recognition, to insure complete compliance with GAAP accounting principles. "
Why are they still whining about having to follow GAAP (generally accepted accounting principals) and do they even know what the acronym stands for? If so, why do they write "GAAP accounting principals"
"There also has been some concern that the last 10Q filed had disclosures that the company was in need of some financing an had indicated that the company could file bankruptcy if they did not receive financinng by 13 September.Obviously, this has been a wrong prediction---and the last stages of that financing are being completed now."
Wouldn't this require a filing and doesn't it mean that the shares will be even more diluted since the financing most likely will be similar to their past deals with warrants etc.
Does anyone know what the SEC filing AMENDMENT NO. 1 TO FORM SB-2 REGISTRATION STATEMENT on August 29 with the first line stating "This prospectus relates to the resale by certain selling stockholders identified in this prospectus of up to an aggregate of 7,023,543 shares of common stock," is all about?
Also does anyone know what has happen to the insider trading and ownership data about a week ago when transactions after Jan. 10 disappeared?
How big are the two ad contracts announced the last couple of days?