IT Group Holdings (fka ITGL)

[phoney]

Charlie is too vague with his statements. $28-30M equals how many minutes per month? Compared to how many minutes $50-60M would have represented, it would give us a better idea how his economy of scale would play out. All he mentions is a 'potential' of 500M minutes per month, never the actual amount going through.
So the revs are cut in half for 2007 because of a few months delay during ramp up? Doesn't add up. Either he lost customers or the whole thing is one big con job.
The cash is being burned too fast now since revs are down, they will have to finance more shares or get an actual bank loan.
OTC is for con-artists making cash via selling their company's stock, this company is no different. Sometimes the stock holders make money in the process, but most stocks fizzle. ITGL's stock price is stagnant because nobody wants to dump any here, it's already too low for them so it doesn't make a difference. If offshore 'shorts' take control again it could tank.
Charlie's 'major deal' announcements are looking more and more like fluff. Revs and bottom line are dead. The next announcement will probably be a new financing deal which would dilute. However, it will be worded in a positive fashion which the public will view as 'good news'. So a good spot to buy is after high volume shorts push this down to .04 or so and then stabilizes - just before the financing deal is released. Then it all depends on whether or not ITGL decides to litter the news wires with deals and actual growth via SEC filings. Beware of an increase in OS once the new financing is put in place. Hopefully it will be timed after Sep 30 2007 so it won't show up till the 10K is released by Mar 30 2008.