Some observations about INTK's 2018 annual/disclosures out on Friday: My opinions only! Do your own research.
Like others, I would always like to see higher sales/profit numbers sooner than later which will cause a faster stock move, but I see lots of positives happening as I write this. Some are the following:
1. Sales for 2018 was $494K up from $306K in 2017, an increase of 58%.(nice increase)
2. Gross Profit maintained a very steady high level in 2018 and 2017 of over 74% (very high level).
3. The operating expenses in 2018 went down 28%, even though the sales went up 58% (great expense control). Increased sales will drop to bottom line very quickly.
4. The net income from operations in 2018 was a positive $139K (on sales of $494K) compared to a LOSS of ($75K) in 2017 on lower sales of $306K
5. There was little to no dilution (selling of stock) in 2018 compared to 2017 (Approx. 2.3 billion shares)
6. Change in customer deposits in 2018 was a positive $126,612 vs a negative ($98K) in 2017.
7.$505K of the liabilities on the balance sheet is debt and associated interest owed to the CEO and his wife who have lent to the company over the years to keep it running.
8. The CEO and his wife own 171,275,796 common shares and 5 million Series A preferred shares. Being that they are the largest shareholders of the company, they have the most to gain or lose with any rise or fall in INTK's stock price. Their interests are aligned with the shareholders.
9. They filed on time so there should be no risk in losing their PINK CURRENT status.
10. New products to be sold and new technology being tested/incorporated into basic materials (as per press release)
11. The current price of .0029 brings a market cap of about $6.5 million dollars. They are profitable, growing in sales and profits with a high gross margin. New OEM with a Fortune 100 company stated in press release.
The CEO has stated he has several objectives for this turnaround:
They needed to stop the huge annual losses (some years $2 million annually). He has done this. 2018 was profitable.
They needed to increase sales. He did this in 2018 with and increase of sales of 58%. 2019 obviously should be much higher with the announced OEM (hopefully sometime in Q1 2019) which will provide for steady daily sales as well as other large companies that they are working with.
They need to audit the 2017 and 2018 annuals. They have announced they have engaged Malone and Co. to do this. Whether they contracted for, paid for(very expensive), started, or finished, we all don't know the status.
Then they will uplist, as they said, to a higher listing standard and/or senior exchange.
Just some observations. Hoping we get some PR's soon that will update many of our questions.
If you have questions or concerns, email the company. You might not get a response (or you might). Keep in mind, only a few people are involved so they are extraordinarily busy. They can't get back to every shareholder (they have over 3400 as of last record). At the very least, all of your comments and concerns will be read. Also, they list their Investor Relations Consultant.They are: ValueCorp. Trading Company (786) 375-0556. Their email address is info@valuecorptrading.com.
Hope this helps. Good luck and good trading!!
