Vertex has over $1b in assets, so selling ITMSF can't be about money. It was less than a month ago that ITMSF and Vertex renegotiated debt, so it stands to reason that Vertex knows if ITMSF is about to default, or if a contract fell apart, and they are selling on this info, all of $1.2m worth. So to me, the fact they are selling means there is no negative coming. Now why are they selling now instead of last year? They could be making room on the books for more, I don't know what agreements they have **EDIT** I looked up the rule. I take their selling to be a very bullish signal. It does mean they are making room for debt conversion, warrant execution, or a issuance of stock for royalty elimination. Can't see any negative, would appreciate the devils advocate to step out.
Here is the rule
What Happens if I Become a 20% or Greater Shareholder?
Do not become a 20% or greater shareholder without first speaking with Canadian legal counsel. Canadian securities laws prohibit acquisitions of outstanding securities of an issuer that result in an investor holding 20% or more of a class of voting or equity securities of a Canadian public company without making a formal takeover bid (that is, a public tender offer). There are a few exceptions to this requirement, including purchases through private agreements and limited public market purchases, but it is important to get specific legal advice about them before increasing your ownership level to 20% or more
Vertex likely wants to see 2 things before they drop the interest rate on these loans to a reasonable rate. 1. That the DRC makes its payments on time with Intermap executing the contract milestones. 2. That Intermap is not a one hit wonder, but that they can in fact close multiple deals. The debt now being due in Aug tells me that Intermap believes they can accomplish whatever it is that Vertex wants to see, well in advance of Aug.
we have about 3-4 more weeks at this level. 2 things will happen at the same time, either $12m and debt/royalty restructure, or 2nd contract debt/royalty restructure. Either one sends this up big because it will remove all remaining fears/caution.