INT, INTERMOCO LIMITED

[macduffy]

Wow, 2c after a 400 for 1 consolidation!

That's .00005c in the old money! Some sort of record?

[kiril]

Back in business hey....the Titanic has been raised.

Some very big names now involved, lets see how the rebirth pans out.

Kiril.

I hold.

[fraz2]

INT re-listed today after the 400 to 1 consolidation and last traded @ 2c on a volume of 650,000 for a daily total of 3,425,000.

[melua]

In Reply To: bri's post @ Oct 8 2013, 03:15 PM

I see INT are basically a listed shell looking for a project to vend in. I proposed exactly that to INT last year and was told they are not interested.

[bri]

All Intermoco shareholders:

Please take the time to load this link:

https://jumpshare.com/b/szSJRWgJLicU7gJiA31K

contained within this link is 3 files;

*an Administrator produced Intermoco creditors report file (including details of 2 present bids for the shell of Intermoco ltd).

*an overview to the shareholders of Intermoco file.

*a proforma letter of shareholder support file. (That u may like to complete. As can be seen there is a creditor vote 9th October. A prompt reply with your letter of support might be handy to do. If your not seeing this msg until after 9th of October, I would still suggest that interested holders still complete the attached letter of support as shareholder approval is still required.

[nathanblack]

In Reply To: melua's post @ Aug 22 2013, 09:56 AM

Yeah, Agree. Doubt even creditors will get back their full amount considering the level of convertible notes. But it would be decent if Administrator or company treated the shareholders with the decency of saying what the sale amount was. I know we will eventually find out. Most likely from people attending the creditors meetings. But it shouldn't be that way imo.

[melua]

In Reply To: nathanblack's post @ Aug 9 2013, 05:23 PM

Equity is worth zero nathan.

[nathanblack]

In Reply To: melua's post @ Aug 7 2013, 10:24 AM

The customers are worth something but not much imo. Its not like their is a contract in place. Customers/tenants can walk at any time. Not many of the contracts are profitable, probably none if you take the startup/install into account. But if someone can find synergies and claim the tax loss then it has value. But now it appears the party looking to buy the business is a shell setup by Meehan and has no customers of their own. So synergies look minimal. But atleast it can eliminate debt and management costs.

[melua]

In Reply To: melua's post @ Aug 6 2013, 04:00 PM

nathanblack: 'Our customer base is worth something, especially the ones already earning revenue. The tax losses too. "

Not for existing shareholders. Current equity is wiped out.
I understand a private group are buying the customer base and it will remain private and creditors will get minimal cents in the dollar. Shareholders get nothing.

[melua]

In Reply To: melua's post @ Jul 22 2013, 06:39 PM

Interesting post over the road by joewolf:

"Okay I now give in - This really has not been a great experience and I would be unhappy to invest on the ASX if this is the norm.

It seems to me that no-one is really ever going to challenge anything as the creditors want the cents in the dollar. By the way I saw a creditors list and as I understand it from the data there is a claim from what I believe is a former directors company for $400,000.

What is fascinating is that the company only employed 11 people outside of the directors yet the administrator refers to the company spending $250K per month more than its income. He also refers to a $7000 credit card bill that had to be offset against the fixed deposit.

Well guys maybe we should have these guys running the government. IMO they seem better at spending money than all the pollies put together 11 chasing 200K thats a very high cost - really this has been my worst evaluation in my entire life. This company has been living the high life IMO much like the pollies and even using deficit spending as a method of choice. The only missing element is the ability to levy taxes.

Personally I have no doubt that whatever happens the next company shall/ will run a much lower expense regime. It is even noted that the level of expenditure was higher until the closure of certain offices.

I have learnt from this or have I not - I have no idea because I have believed many times that management had this under control. I still believe the market is there and the customers are there - The management - well that was what was lacking IMO.

I have a stake - enough at last price to two maccas meals for the family. Well starting this week I am going to forgo that - I need some more insight into how to avoid these blue sky and no feet on the ground type investments.

Yes I am also saying I dont believe shareholders will play any role in the future here.

I would recommend those that lost a lot of money follow what happens and see what unfolds because I believe it will give insight into things we never understood. whether it will help in recovery of the money - who knows I dont hold out much hope.

I wish there was a sentiment for I have been stupid here!"