Just spoke with IPII CFO Howard Ehler
He said that their NasdaqSC listing application will be filed 'shortly', but would not give a specific target date, saying just that there was a fair amount of paperwork to complete. Their reverse split will be implemented if they are accepted for Nasdaq listing, which seems very probable since they meet all other listing requirements. He said Q4 would likely again not be reported until late in March due to the heavy seasonal work backlog of the auditors. He implied that their roofing supplies business has been exceptionally strong in Florida since the hurricanes, but could of course not provide any details. He remains optimistic about continued strength in new home building in Florida and the Southeast, and said the Company is considering further expansion in the future. IPII earned 0.21 through 9 months of 2004, and looks undervalued at 1.55, especially considering their strong growth, that results are already fully taxed, and their good prospects for a NasdaqSC listing.
