Iteris is doing it's thing here in Minneapolis on our Interstate 494, just South of Minneapolis. It is the main artery to the Mpls/St. Paul airport, It is in tear 1 of a 4 year project. It is going OK, so far
Summary, they brought in an "expert closer" who replaced Todd Mitchel the CFO. His l last name is Keneally. I feel the bad Q2 is stopping a sale of the rest of the company. So, he found a legal way to postpone Q2 and it comes out like 2 days before Q3, and I hope Q3 does cash flow positive or better. The the sale might go through and they can use the NOLS,(losses carried over). They can't sell it for the NOLS alone. The company must have something else going for it like growth and or profits. It could happen in Q3, reported in mid November. If not it's good then, Chapter 7. If it is, I would hope $3+ which would have the buyer using 33% of the NOLS and and extra $1 for the company doing well. Sources say the buyers never pay the full amount of the NOLS, as they can just use a small portion per year, guessing 5% plus or minus per year. State NOLS are more complicated and some states don't allow them to be used or make it complicated.
I hope we learn more at the shareholder meeting Wednesday. I am not recommending it a buy or sell now. I hope the "Expert" is one. He did recover $300,000 from the original CEO 2005 to 2008, who had a court order to pay the company reparations when he got money for his thievery.. No CEO or CFO even tried in the last in the last 11-12 years to get any.
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