Identa Corp (IDTA)

[RichieBoy]

After 8 years market penetration=$200,000 annual revenue

By any account that is so dismally low in my opinion it has definitely got to be a record low figure. Most likely offset by expense accounts, new detector packaging and that age old excuse R&D. Toss in a few failed manufacturing plants and it's easy to see where the business plan clearly isn't doing enough to make investors any ROI. Add on an online reputation that would bring tears to any investor's eye and there is nothing to get excited about unless more scheduled dilution from the latest filing does it for you.

This is not abnormal piling up expenses lots of companies do it but it's usually on record annual returns to trim taxes. Identa doesn't need to pay taxes this year and likely not the next because of the ten year tax free deal cut with the Israeli small business incubator legislation. So basically all I can take from this is Identa had one horrendously LOUSY year in terms of sales. One which was forecast in the millions for revenue. Which is why I'm scratching my head. Why doesn't this CEO have an alternative business plan because clearly this one is hopelessly not working.

One other quick question how much more blurred can you set the date for the financial report. He knows the date requested by the stock market but obviously he doesn't want to be held down to a date. If history is any yardstick you already know what that means, because you just witnessed the escape route before your very eyes. Identa vanishing into the ether yet again as per usual. He has absolutely no intention of releasing any 2011 financials at all. That's my take Vits and why would he need to be audited in the first place, you don't need to be audited to become Current Reporting that I know of. Just another excuse IMO. Flimsy as it is I think we have once again just been shown management's infamous trap door. I have more faith in my ouija board