Could just bite off a small starter position since the ask was only I think $0.35. That's what I did Monday (bought a little at the ask). I put in for a few more at $0.335 to support bid tomorrow.
If I get more I'll start digging a bit more. Time is a bit fleeting these days.
I am curious if much of the projected 2012 revs growth (organic) is just continued migration of SI customers. Cuz if you use the rate of gross revs recognized in 2011 ($1.7 mill thru 5 months I think?) I got almost $4 mill revs for 2012 if they continue at that pace. Guessing the revs may be more heavily weighted early so the $1.7 mill recognized since Aug to end of year might be a bit 'heavy'.
That's a $2.3 mill difference YOY if they could continue the same pace of revs from SI thruout 2012 which equates to almost the entire projected low end revs target for 2012. They did mention some lost revs too so maybe that's where ISM growth optimism comes in to fill that lost revs gap (MDC biz loss).
They will be losing some of the MDC biz ( a decent chunk) from a Canadian retailer client in 2012 that made up over $1 mill of revs in 2011 so guess there's combo of new biz and attrition from that client moving biz to another provider going on with the 2012 revs projection (not sure how competition stacks up, apparently in the MDC biz it affected one client mostly switching to other provider).
Might be something I can ask if I can get a call in some time fairly soon (how much/what % of projected revs growth roughly would be from SI vs ISM in the organic growth for 2012 or something like that).
Not sure how much of that SI migration may become recurring revs/repeat customer biz too but it is helpful to see the company getting them signed on to the tune of $1.7 mill in 5 months for 2011. Figuring the customers are probably liking what they see enough to drive that much business INX.V's way.
I don't even know how long these negotiated contracts are typically for either as customers switch over (was thinking typiclally annually but thought they mentioned some are month to month for now possibly as they debate switching over, who knows). I need to do some work to get up to speed.
Mike- do you know how long these contracts typically run?
Been a long week already, I'm about done for the night.
All IMO. Good luck.
I don't mind stealing bread from the mouths of decadence... But I can't feed on the powerless when my cup's already overfilled.
-Temple of the Dog
