Invicta Group Inc. (fka IVGA)

[mike306oh]

Pros, Cons, and Opinion:

"Anyone think a pps turn-around is coming soon? That would be nice IMO...and it looks due for one also." By 'Bartermania.'

1. PROS:

Looking ar the fact sheets:

http://www.equitilinkpr.com/pdf/IVGA%20Report%20040405.pdf

* In January 2004 Invicta acquired ISIP
Telecom Group, Inc., a Voice over InternetProtocol (VoIP) services company. * ISIP is set up to offer Internet-based telephone services worldwide via the Internet.
* The recent buy of VoIP, Inc. (an already money making company) gives credibility to IVGA's business plan. VoIP is here to stay, and due to explode.
* Invicta has begun marketing this VoIP capability to travel agents and travel suppliers as a means of augmenting their travel services. ISIP technology allows for crystal clear long distance telephone service via the Internet.
* In February 2004 Invicta acquired Airplan,
Inc. Airplan, Inc. is an “airline ticket
consolidator” that specializes in offering
net-priced fares to the travel agent
community and other wholesale groups in
the U.S. and worldwide.
* FAIR VALUE ESTIMATE: $ .10???? Even 0.05 will be great. Last year this Co was much higher than 0.1.
*This I like most: "NOTE FROM THE CEO
In our interview of IVGA CEO Bill
Forhan, he clearly stated that he is
firmly against, and does not intend
to do a reverse split of IVGA stock." Since, thus far IVGA did not have any R/S history, and based on the above, this to me is a credible info.
*MANAGEMENT quality: looks good to me:
Bill Forhan, President & CEO, has
worked for over 37 years in the travel and
entertainment industries, and has served as
CEO for several public and private
corporations. He founded and was chief
executive for both Integrated Marketing
Professionals, Inc. and Aviation
Industries, before selling both companies
in 1999.
* Check out the report for info on the other members of the Mgmt. team.

2. CONS:

Neither 10-K, nor 10-Q filled, and no news of any kind after the stock became a pinkie.

3. Opinion:

Based on #1, especially: (i) the NO R/S promise - and the low volume doesn't show the company is dumping any shares, and (ii) the acquisition of a money making company (VoIP, Inc.) in a hot sector, this should turn around as soon as some news hit.

However, it's rather peculiar that the company would not come up with any news as of late. Hard to say what happens behind the scenes with this Nevada Company.

I might add more to my initial position. While a speculative stock, and therefor very risky, at this PPS, the reward/risk ratio looks very good to me. If some trigerring event will finally move this (up, that is) the move should be rather substantial. Even a 1/10th of the "FAIR VALUE ESTIMATE: $ .10" will mean some 10 MOMO gain. If a miracle happens (as now and then they do), and the facts sheets are true, that will mean a 100 MOMO. This is, of course, JIMHO. Do your own DD.

Mike