Shorts are starting to cover. 1.16 million shares short in a stock that trades only 19,400 shares on average. It would take 2 months to repurchase these shares at that rate at a very higher price
The shorts bet on a bankruptcy.... but now.... the company sold or liquidated the losing businesses and the remaining identify business is very profitable.
If the company is purchased, this could be a home run
I would not be surprised if Experian bought this business too.
Michael M. Thomas
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Experian acquired CS Identity (which had approximately $120 million of revenue in 2016) in April 2016 for $360 million.
Based upon that math, INTX is worth about 3 X $164 million or $492 million or $20.75 a share assuming 23.7 million shares outstanding.
EBITDA of the Core remaining businesses for 2016 was reported as $13.15M vs $9.9M a year ago a 33% increase.
Can you imagine being short this stock at $4 today
Shorts are finally covering..... the company will soon report earnings and report the two disposed of business as disc operations.
With those two businesses gone the company is profitable and will generate free cash flow.
There are 1.1 million shares short and the stock trades an average of 8,808 shares a day.
You have to love being long this stock.
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The 1.1 million in shorts will soon realize that this company is not folding up.....to the contrary.... it will be very profitable with the disposition of the businesses that created the historical loses.
Based upon current trading volume, this could create a short squeeze of monumental proportion.
Stay tuned around March 22 .....
Back to basics.... sale of the bail bond software was a great idea..... there's no point in wasting money and focus on businesses that don't generate any cash.
Now we can focus on cash flow and grow the core business.
I hope these two business closures/sales generate a few dollars in sale proceeds to improve the balance sheet.
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New CEO at $750,000 a year plus 35,000 RSU ? If he had faith, he would taken $500,0000 plus 250,000 RSUs
INTX is a sell above $4. Its a good exit point - 2 yr high for a stock with no growth.
With the pet business finally closed down the remaining company will generate $10M in EBITDA. Life Lock sold for 44 times EBITDA. So the simple math.... 44 x $10M = $440 million.....divided by 24m shares equals about $18-$19 a share in value. This stock has some room.
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