Is it Time to Liquidate InteliData?
InteliData Technologies Corporation (INTD) was formed in late 1996 with the merger of U S Order, Inc.(USOR), Colonial Data Technologies Corporation (CDTX) and Braun-Simmons Corporation.
The stock hit a peak in early 1996 of over $20 per share and has steadily slid downward to a low of around $1 per share this month. The equity value investors lost exceeds $100 million in less than two years. InteliData has never been consistently profitable. It's cash position went from over $30 million in early 1996 to less than $9 million in the recent 10Q. After the mergers, InteliData took charge off amounts in excess of $100 million. Recently, senior executives received large salary increases, some as large as $50,000, taking his salary to over $300,000. They also re-negotiated their stock option plan to their advantage.
Some questions need to be answered.
Is it time to liquidate the company while some cash and assets still exist?
Was false and misleading information used in the merger presentations to coerce investors and stockholders to approve the mergers?
What did InteliData do with the $50 million in cash it gained from the mergers?
Why has most of the Colonial Data Technologies business been discontinued?
Why has most of the Colonial data Technologies assets been sold as a reduced price?
Why were products announced in press releases resulting in stock increases, and never produced and sold?
Why did InteliData executives exercise stock options shortly after the stock went up?
Did InteliData lose $1 million due to negligence and mismanagement?
For the last two years I have been accumulating proprietary, confidential and legal information that answer these questions. I have been authorized by a group of stockholders to seek out other stockholders that suffered losses in InteliData stock. If you have an interest in exploring this opportunity, please write to:
ALR Consulting
Suite 215
13908 Lee Jackson Highway
Chantilly VA 20151 |
