DD on IMOT
Thanks lanceb for a great pick!!!
Hi everyone,
I have a hard time just jumping, I know that cost me some times, but I am jumping on IMOT, even at higher price-- here is why:
Spoke with Steve Smith in IR this AM. here's the scoop:
Shares outstanding 8,466,973
Float 1.5 million, but of that 900k is restricted from reverse merger done in January with Tedrow Communications. Therefore, effective float until Jan 2000 is 600K.
Approx. 50 % of business in China have any kind of web presence. Of that 50%, IMOT serves 1/3. Per Steve, China internet is approx. 6-8 yrs behind US.
IMOT is profitable, 3% profit reported last Q. Within the next three to four weeks, they will become fully reporting, with audited financials and filing form 10 w/ SEC.
The President of the Co. who is in China, but was recently visiting US, is Stanford educated and lived in US approx. 6 yrs.
Steve's company is paid in $$, not shares… I think that makes IR cos. Less likely to hype a stock. He explained all the PRs today as having beeen released previously on BW, but received many calls to have them rereleased on other wires.
Steve has had over 20 calls this am from brokers and investors, said call volume has been steady recently.
Compare IMOT to a Yahoo of China, Portal with content, working on deals with bookseller and auction house.
Steve expects more news out sometime between Thursday and next week.
Good luck!!
Kathy
intermost.com |
