I have no idea. I intend to start reducing my position. What is that saying about kicking a gift horse? Unless the bottom drops out in the next couple of days INOC will have been a very profitable venture for me.
good luck to all!
What is it, have you guys been ignoring what I have been saying for the past months?
Isn't it interesting how the board so conveniently allowed Dadante and his groiup to not only exceed the 15% ownership level that would trigger the poison pill, but allowed them an additional 10%. Personally I think there is something going on here...
If you take their average cost per share you will see that IPOF stands to make a VERY large sum of money.. and INOC gains from having their stock price inflated..
I think Scott and David Gamsey have a LOT to explain at the conference call, but I am SURE they will not even broach the subject since it is an Earnings call and not a "how our stock is being manipulated" call.
Now that you guys are catching up to what is going on, does anyone REALLY think the value of the stock is being driven by company performance?
Also, we have had 3-4 real bull market days and INOC seems to be struggling daily to keep its current position. This leads me to believe that IPOF is no longer buying and may be looking to start selling off those shares at a profit..
VERRRRY INTERESTING.... that IPOF managed to "inadvertently" buy over 15% (now over 20%) of INOC without realizing it! And at an average CPS of $1.40, with the most recent (disclosed) buys between $6 and $6.50. Sounds like a lack of due diligence to me.
"IPOF" last known purchase was on 8/5/03 @ $6.45. No reported transactions the rest of the month. Perhaps the price got to high for them and they are waiting for it to come down.
Still the question; who are they and why are they taking such a large position in INOC? Is there M/A activity in the works?
Insiders hold over 45% of the stock and it is a pretty small group of insiders. Would someone want to take the Company private?
inocinside, have you searched to see what other enterprises the individual insiders may be involved in? The Dorfman brothers have cashed out of companies that they built, perhaps they want something that they can run without shareholders.
A team of Scott, Larry and Martin Blank would be rather substantial. Add Joel Marks and his investment banking contacts and it could be a strong group.
Glad to see you guys are finally catching up to what I have been asking for a while...
Obviously you can do an internet search since you came up with the Injured Police Officer Fund. Take a close look and you will find that the police fund is located in Las Vegas Nevada. IPOF that we are watching is supposedly located in Ohio.
Here is what is known.. IPOF is supposedly a limited partnership in Ohio, with David Dadante as the managing partner. A search of the Ohio state records - via their secretary of state office - does not show any listing for IPOF fund, or any derivative thereof in Ohio. Further confusing things, if you look at the filings on the SEC site, you will see IPOF also referred to as IPOF Group. Makes one wonder what the real name of the group is. Bottom line is, there is no record of a limited partnership with Dadante in Ohio, at least that can be easily found - this fact alone leads one to question the validity of IPOF.. Would be an interesting question to ask at the next conference call..
A search for David Dadante on the Ohio SOS site shows that Mr. Dadante owned a couple of businesses prior to being the managing partner of IPOF. These businesses consisted of restaurants.
Whether they are still buying or not is a good question. Given the lackluster performance of the stock in the past few days, I would say that they have stopped purchasing, or at least throttled back their buying spree. My bet is that they are approaching the magic 25% number and want to hold some purchasing capacity in reserve in case the stock starts to slide..
So the big question is - is the rise over? Should we sell now?
IPOF is the acronym for "Injured Police Officer Funds".....They are set up in several states and cities throughout the country....I cant believe that this is one of those funds..If it is, then why Innotrac? there certainly are more stable investments than this. Filings show this IPOF Fund holds 2.2 Million shares...over 20 percent of the company......I too am asking what or who is this IPOF Fund....?