PDA

View Full Version : ITE & E (ITE) is Potential Superstar



Pages : [1] 2 3

robbo
23-08-2006, 11:01 AM
ITE & E (ITE) is a Potential Superstar ,

More on this one (ITE) later today, but ITE has all the halmarks imo.

Kindest Regards,

Robbo :)

robbo
23-08-2006, 12:26 PM
ITE.

Two quick initial Clues. :);)

(1) Look who (which ASX listed IT medium sized Co)- has bought a Minority position, into ITE about 2 months ago?

(2) Compare this Company (ITE) with BVA -- in terms of earnings and Market Cap and scale.[:p]

Kindest Regards,

Robbo :)

tommy
23-08-2006, 02:04 PM
quote:Originally posted by davidrob

ITE.

Two quick initial Clues. :);)

(1) Look who (which ASX listed IT medium sized Co)- has bought a Minority position, into ITE about 2 months ago?

(2) Compare this Company (ITE) with BVA -- in terms of earnings and Market Cap and scale.[:p]

Kindest Regards,

Robbo :)




Hi robbo,

Oops, I thought you had opened an IRE thread but it was my mistake[:o)]

Haven't done much research on ITE yet but nonetheless worth a look since it is a tech firm (my favorite field[:I]) but which announcement are you referring to in regards to a listed company increasing its stake in ITE? Can't seem to find it?? Help me out mate!

P.S. Well done with MMS, great results! PGA was not bad either. What do you think of Iress (IRE)?

tommy
23-08-2006, 02:11 PM
oops found it:

3 July 2006
UXC Limited
ABN 65 067 682 928
MARKET ANNOUNCEMENT

UXC Increases Interest in IT&e


UXC Limited has today announced that it has increased its ownership interest in ASX listed Technology Company IT&e Limited.

UXC Executive Chairman Geoff Lord commented that gUXC has had a substantial interest in IT&e for several years. We felt that the timing was right to once again increase that investment as the quality of the specialist risk management products developed and marketed by IT&e to top-tier global financial institutions does not seem to be reflected in its enterprise value. We also believe that UXC can be of some help in improving IT&efs prospects, through such means as assisting to strengthen IT&efs balance sheet and by providing support in a number of IT service areas.h

robbo
23-08-2006, 02:49 PM
HI Tommy,

Think IRE is solid Tommy, but not -imo-- a potential Super Star, as the PEG is so so high and is therfore Fully valued and working off a rather Highish .... Market Cap Base ...vis a vis .... the Opportunity for Growth -- as a Mega Growth Stock.[?][?]

Tommy, Best thing going for IRE -- imo --- is the excellent IRE, High Return on Equity and "the Space"-- it has entrenched itself into....

However; imo,Tommy, For reasons of relative under valuedness; Prefer IWL and GBT, and to leser extent ETR -- in this same space.....

And yes, agree Tommy; that Photon was quite Good, but the real intereting question is what is the Next 6 and 12 months GOING TO BE LIKE; potentially, for PGA going Forward....

Here-in Tommy, at least, imo lies the bigger PGA opportunity ...as most of the NEW -- PGA acquisiotns will be bedded down and earnings accretive. [:p]

Kindest Regards,

Robbo:)

PS ite is a potential SUPER Star, at least THIS is my assessment.

Regards,

Robbo :)

---------------------- ends ----------------------------------


quote:Originally posted by tommy


quote:Originally posted by davidrob

ITE.

Two quick initial Clues. :);)

(1) Look who (which ASX listed IT medium sized Co)- has bought a Minority position, into ITE about 2 months ago?

(2) Compare this Company (ITE) with BVA -- in terms of earnings and Market Cap and scale.[:p]

Kindest Regards,

Robbo :)




Hi robbo,

Oops, I thought you had opened an IRE thread but it was my mistake[:o)]

Haven't done much research on ITE yet but nonetheless worth a look since it is a tech firm (my favorite field[:I]) but which announcement are you referring to in regards to a listed company increasing its stake in ITE? Can't seem to find it?? Help me out mate!

P.S. Well done with MMS, great results! PGA was not bad either. What do you think of Iress (IRE)?

BSA
23-08-2006, 04:22 PM
Hi Robbo,

How goes it?
Do you not see the proposed expansion into US and UK as huge(and expensive) task for them?

Cheers:)

robbo
23-08-2006, 05:13 PM
Hi ya BSA,

Many thanks for your response and interst in ITE (ite) . :)

BSA, Re it&e's "proposed" expansion, into the USA And United Kingdom ... ...

.... errrr ......BSA ....

... ite (ITE) already ARE there (USA and UK) --- (present tense) -- as a current FACT; -- (rather than it being just a proposed expansion ... !)...

-- And to underline that it&e are "there" now already with numerous Large Global welll known internationally Bank clients which are already secured and reported Clients.

This has already been announced to ITE Investors via ITE's recent ASX announcements !!

Not to worry BSA, I also often miss such small details !!

Also; ... Re the Cost and Expense issue; which you raise BSA.:)

BSA, This is really one of those; "Chicken and Egg" ... sort of questions ... !! [:I]:)

By "Chicken &/or Egg", ....What I mean is:

(1) Do we, as ite& e, (ITE) Investors; Want and really prefer ite& e; to go and Get & have Global Clients and Global expansion; in an; On-Line E Commerce Company (like ITE) coming from a Software/E Commerce firm operating in a globalized E Commerce world .... or do we not ??

(2a) Secondly BSA, the expense can be relatevlt; non inicidental in the larger "scheme of things" -- with all of the R& D Development already now having being completed & done in Australia...

ie it is really ONLY SALES CHANNEL Distribution (---ALTHOUGH ADMITTEDLY; SALES CHANNNEL DISTRIBUTION IS A VITAL LINK --- FOR THE CO'S SUCCESS)-- that we are discussing, and Sales Arrangements; can be done through outsourced; IT Re Sellers anyway; who get paid after it&e get paid.


(2b) Related to point (2a)above BSA; and in regards to the Expense and Capex spend required -- to which you allude BSA.... :)....

BSA, it is frankly; the Research and Development and ze "bedding down" of all of the gremlins and "Game Theory Playing" -- ie: all of the multiplicty of Scenarios and Permutations and Combinations (Quality Control and Rigour Testing); and de fragging the bugs ..... which are among the more "expensive costs of doing business" -- imo BSA.

Also related to above BSA, is the cost invloved in THE actual testing; and refining the Integrity and user friendly intuitive nature of the it&e suite of IT PRODUCT's ...

Thirdly BSA; there is the costs incurred in building the it&e proprietary firewalls and Security Mechanisms, and the ability of the it&e (ITE) -- to be truly a Ready for Market Software; to properly and seamlessly execute ---( --in a totally Superior fashion--)...

... >>> -- The Intended Function Promised.....

All this also BSA needs to be effectively integrated into it&e's Client corporations existing IT architiecture; and of course to Perform the various Tasks and Functions; which the Designed it&e PRODUCT --- is intended to fulfill.

It is these sorts of Research & Develpment costs that,..... imo BSA, ..... are the real Cost/Expenses; and.... Risk of-- "sunk opportunity cost" -- for IT players like it&e... imo... BSA !! :)..

Fortunately for it&e inestors, imo, these High Costs and potential Barriers are now thankfully largely behind them (ITE) regards the suite of Banking & Trasury Finance Software; that is now under consideration !! :)

Relative to the above issues and costs, BSA, the actual global Distributon Costs -- in the USA and UK; as per -- "side by side" ---and in comparo; with the rather highish cap ex; which is now already behind them (it&e) -- would imo be relatively inconsequential -- "in the overall scheme of things"....

Where-as conversely BSA; the Huge Upside and Scalability of Global Clients for the Health and growth of the IT&e overall Value and Growth of the it&e Balance Sheet is relatively huge... !!

Hope that helps a tad BSA !

Kindest Regards,

Robbo :)

----------------------------------------------------------------

BSA
23-08-2006, 05:41 PM
Ha ha yes a small bit of info over looked, hey cut me some slack I am basically a TA(read slack) trader,lol. To be honest I have only had a quick glance at ITE since trading them heavily from the 2003 base break(they were talking Euro and US expansion then),...they have certainly come back to earth since then!
It certainly does appear to be basing and could well bust a move from its base area again.

Thanks for the detailed reply:)

Cheers

edison
23-08-2006, 09:50 PM
Hi Robbo,

I had a quick look at ITand E and look at some of their competitors

- Misys PLC: http://www.misys.com/
- Wall Street Systems: http://www.wallstreetsystems.com/
- SunGard: http://www.sungard.com/

plus many more I am sure .....

They are all pretty big companies with big existing clients and have good relationships. Why would anyone overseas want to use IT and E software? Are they that much better or cheaper? Big clients want quality and good service. Also I don't really see them having first mover advantage here either.

I work in IT and I know that integration with other systems are a pain so trying to "steal" clients from competitors would be difficult. I did notice ASX and ANZ are ITandE clients which is a good start as they are big companies. but I just wonder how they are going to expand their client base overseas? I can see huge expenses in system integration, sales (eg perks and sweeteners for clients etc etc etc) .......... What makes u so confident with ITandE?

edison

robbo
24-08-2006, 11:26 AM
it&e (ITE)

Focus for the moment on Basel--11-- :):)--and Europe.


What is, imo, one of the Key: Sustainable Competitive Advantages (Global) for it&e ??[?][?]

One of them, imo, is definitely related to the European Union and the signing up—by all the European Banks, Insurers, and Financial Institutions to the Basel—11 – Accord-- Financial & Regulatory Risk Compliance Accord.

The Big Advantage and Selling Point of it&e (ITE) is ……
that they (ITE) have a Trade Marked and Proven— in their Developed especially for:-- Financial Institutions Risk Management Superior Software Suite –especially with, it&e’s Razor Software ™ -- to be able to effectively Monitor Risk and Comply with Basel –11 in this respect.


What is and does Razor actually do and is capable of:??

IT&e
Add to my projects
IT&e’s products include Razor, which enables organisations to manage their market & credit risk requirements. PTX enables online trading of over counter securities across multiple asset classes. Monarque covers Front, Middle and Back office functionality for Treasury & Capital Markets products.
Full Profile
Razor - Sharper Credit Risk Management
IT&e is a technology company with the reputation for delivering cutting edge solutions to the Financial Services Industry. IT&e is public company listed on the ASX. Our domain expertise includes equities, funds management, financial markets, general banking businesses and insurance.
IT&e offers three flagship products and service-based solutions to enable development of complex application solutions for the financial services industry.
IT&e is headquartered in Sydney and maintains state-of-the-art development centers in Australia and India and regional offices in the USA and Europe.
Benefits
Cutting edge technology.
History
Established in 1999.
Technology / Business focus
Of the three flagship products, Razor, PTX and Monarque, which it&e (ITE) to global financial institutions., let us now only look at RAZOR.
Razor is an enterprise-wide credit, market and liquidity risk management solution, and was recently awarded the Risk Management Software product of the year by Risk Magazine.
Razor provides:
Integrated Credit and Market Risk: Razor enables credit and market risk to be managed within a single application. RazorÂ’s Monte Carlo based Credit Risk module, and VAR based Market Risk module are also available separately.
Performance: We have used grid computing to enable intra-day credit risk calculations using Monte Carlo simulation.
Comprehensive Limit Management: Razor has a comprehensive limit and excess management framework.
Single Customer View: Razor supports integration of a bankÂ’s lending and trading portfolios, enabling a single customer view of exposure across the enterprise.


Remember, it&e have already been recently taken up by:


Existing client business out of our London office comes from the following organizations:

• HSBC
• KBC
• LLBW
• Post Bank
• Bear Sterns and
• Fortis Bank.

All with Basel 11 in mind.

So hre is, imo: The Big Immediate Potential Crux and nub of the Matter..... regards why it&e can be such a biggie, imo, :

Does everyone/anyone — “get it” -- [?][?] as to why, >> Basel – 11, -- is so Significant an Outward Compulsory positive Economic Regulatory Force …. for it&e to now be massively advantaged by; especially in Europe.??

So just for the present, imo—over these next 7-21 Days …f

edison
24-08-2006, 09:54 PM
Hi Robbo,

I will look at this stock further .... Have to say The Chicago Mercantile Exchange is a big client all right .... the biggest in the world! Also looked at their half yearly reports that their revenue of 80% higher than the last year's which is also good news.

Another thing though, do u know how they charge their clients as well, is it fix price contracts with support agreements, or is it per transaction based, or user based charging, etc etc etc.

Anyway Robbo I know that u know your stuff but after what happened to the market since May I just want to be more cautious these days ...

edison

robbo
19-09-2006, 02:12 PM
it&e (ITE

Just a quick reminder...that it&e (ITE) could announce their london Stock Excahnage listiung any day now.... among other things....
(see their Annual Report) .

Also, imo this is potentially a giant ready to awaken out of its slumber, imo......


Also do remember: What imo is it&e's Inique Selling Benefit or Proposition (USP)??


Probably the clear point of differentiation of ite’s Razor Product ….. was // is: -- its Truly Stand Alone and unique among its peers, ability in relation to exposure calculation.”


Their (it&e) Website alaborates on this point like this:

What Makes Razor Unique?

Before IT&e designed Razor, we consulted many industry practitioners to determine the most critical areas that must be addressed to provide a best-practice risk management solution that supports customers today, and will support them in the future. This resulted in six fundamental Razor Principles, and every development undertaken within Razor must meet all of these Razor Principles. Strict adherence to these fundamental Principles is what makes Razor unique and maximizes the benefits provided to our customers.

Principles

Configurable – the product must provide be fully configurable to fully meet the risk policy and analytical requirements of every Razor client.
Accurate – the market and credit risk calculation must be accurate, catering for netting, collateral and economic off-setting.
Timely – the product must provide sub-second response times for the calculation of exposures.
Easy to implement – the vendor must provide an open product with experienced consultants to ease implementation.
Supportable – the implemented solution must be readily supportable within a client’s environment and extendible to meet future business needs.
Return on investment – the solution must provide a strong return on investment for the client. :)

Food For Thought.

Kindest Regards,

Robbo :)

robbo
20-09-2006, 12:13 PM
it&e (ITE)

Heh gals & guys,

Will say just One Last Time--....

This Company(ite)-- is, imo, Low Fruit at the moment--but imo.... within weeks and not months ..... will not be quite as low.

Big Big things, imo, are 'a brewing'-- for ite.:)

The Real re rating Potential, imo, for ite(ITE) is truly massive.

So please, Please.......

>>>>> Do not say:

I did not WARN YOU !! ;)

If interested, Do carefully and closely read all the aspects, and details; of ite on their (ITE) comprehensive Website; and have a gander at the posts on this ite (ITE) thread.

The ite Website -- is excellent and very factually based...with many third party references....

Kindest Regards,

Robbo :)

DISCLAIMER
Views expressed in this email and/or internet correspondences, are my tentative thoughts and opinions only. These views are not to be read as being, or forming…. any form of a recommendation; of any sort whatsoever. Rather, they just simply personal opinions, and are NOT financial advice. Furthermore, these views are unwarranted and ought not to be read, as other than personal opinion and speculations, and are not warranted in any way whatsoever, either expressed or implied, for their accuracy, veracity, or likely predictive outcome. Furthermore, these comments are highly subjective and prejudiced by the writers own opinions and outlook. Therefore these views may be prone to errors, as they have not been checked by a third party, and are possibly incomplete and/or inaccurate. The opinions expressed here; are strictly on a “Without Prejudice” basis only. These personal subjective thoughts herein expressed, are only one view among many, and at best; are only the author’s whimsical thoughts, impressions, and intuitions. Obviously, as with all opinions, they are open to discussion and refutation, as well as consideration of other interpretations and review. For any investment decision, always do your own separate investigations and research, and always seek your own qualified and authorized third party independent financial advice.


Kindest Regards,

Robbo :)

----------------------- ends ---------------------------------------

evedder
20-09-2006, 12:40 PM
Thanks robbo - interesting company. I am going to do a bit more research on this one.

robbo
20-09-2006, 12:50 PM
Hi evedder,

Yeah good picking with ISS as well -- [^][^]

The intel I hear--at The PUB, re ITE is First Rate--and the other multitude of Hard Evidence -- @ note WHO are the Clients--and the Buy Up by UXC of 12.5% of the (ITE) stock, imo, backs this intel up.

Expect significant upward (ITE) re rating--after the, my guess, the obligatory "pre open snap" and large at that very, very soon.


btw, Evedder... guess what sort of Companies--- ;):) are now already on the ite (ITE) Share register...... and errrrr.... just who will imo increase their stake !!:)

PS. BTW, seems fortunately that no one over at that other hot Land of Copper Place...... even knows about ite (ITE) yet... or if they do-- hardly a whisper for months.... so let us hopefully keep it that way evedder .. ;);)

Kindest Regards,

Robbo :)

DISCLAIMER
Views expressed in this email and/or internet correspondences, are my tentative thoughts and opinions only. These views are not to be read as being, or forming…. any form of a recommendation; of any sort whatsoever. Rather, they just simply personal opinions, and are NOT financial advice. Furthermore, these views are unwarranted and ought not to be read, as other than personal opinion and speculations, and are not warranted in any way whatsoever, either expressed or implied, for their accuracy, veracity, or likely predictive outcome. Furthermore, these comments are highly subjective and prejudiced by the writers own opinions and outlook. Therefore these views may be prone to errors, as they have not been checked by a third party, and are possibly incomplete and/or inaccurate. The opinions expressed here; are strictly on a “Without Prejudice” basis only. These personal subjective thoughts herein expressed, are only one view among many, and at best; are only the author’s whimsical thoughts, impressions, and intuitions. Obviously, as with all opinions, they are open to discussion and refutation, as well as consideration of other interpretations and review. For any investment decision, always do your own separate investigations and research, and always seek your own qualified and authorized third party independent financial advice.


Kindest Regards,

Robbo

----------------------- ends ------------------------------------------------------------------------------------------------------------

robbo
21-09-2006, 07:20 PM
it&e (ITE)

Hi good folks,

My last post on the ISS thread; (which also was a response to David H's BIG QUESTION)-- is also, imo, totally just as applicable here...ie: to it&e (ITE).

Basicaly; the Choice between it&e (ISS) and iss(ISS)--imo, is whether the Investor wants what is apparently, imo, Wolrld Class Proprietary and Licenced Software with Annuity Stream Incomes,that are Core to the Business Productivity Applications for either:

(1) (ITE) Banking and Finance (NAB, CBA, ANZ, HSBC,Bank of America--- to name only a few-- etc etc... and Financical Exchanges like the ASX and Chicago Bourse-- -- (Global World Leading Financial & Banking Instituions-- and in four different Countrties and nations to date Then you might decide to consider to Go for it&e (ITE) --)

or.....

(2) (ISS) Oil & Gas and Major Mining World Leading Global Houses --- (Rio Tinto,BHP, Santos, Woodside, Saudi Aramaco, Shell, etc etc--again opeating in many different Countrties and nations to date)-- Then you might decide to consider to Go for ISS.....

-- I am sure none of you will be greedy and even.... possibly ... consider ....... errrrr...... going for both -- ;):)

Kindest Regards,

Robbo :)

robbo
26-09-2006, 12:31 PM
it&e (ITE)

Bubbling...... and (ITE) will not be long now imo .....

Remember ite (ITE) expected to go onto the AIM Board in London in October, and UK Broker presentations will be commencing; any day/week ..... in advance of this ....

The UK listing for it&e (ITE) ; is: Being sponsored by Ernest & Young & affiliates is what I see.

Later in October hear also that it&e (ITE) Australian Broker/Investor presentations for (ITE) --ite will also commnece.....to the Banking Investor Community.

Geeee; I must say: I Do feel:

veery Relaxed..... [8D]

.... with a capital; "R" with this one --it&e (ITE)

Kindest Regards,

Robbo :)

robbo
26-09-2006, 02:59 PM
ite (ITE)

Getting these babies under 16 cents, is imo going to appear in 2 weeks or so; a complete steal....

Why so Robbo ??--

Well.... simply (*Compare Bravura---ASX Code: BVA) ought to give you a realistic pointer at waht a total STEAL imo these ite really are. Clue: (BVA isamarket cap of 220 od millions, ite is only approx 18 millions !!)

And guess which firm; already has the better Top Line, Profit Margins and massive Global Market with Bluest of Blue Chip Global Clients and Networked Partners.?? !![?][?]

Kindest Regards,

Robbo :)

PS. Remember also .... . >>> Do ..... now quickly see my previous (ITE) post today; regading ITE progress on their impending ITE-- new London Stock Market Listing due in now only a weeks.

Kind Regards,

Robbo :)

DISCLAIMER
Views expressed in this email and/or internet correspondences, are my tentative thoughts and opinions only. These views are not to be read as being, or forming…. any form of a recommendation; of any sort whatsoever. Rather, they just simply personal opinions, and are NOT financial advice. Furthermore, these views are unwarranted and ought not to be read, as other than personal opinion and speculations, and are not warranted in any way whatsoever, either expressed or implied, for their accuracy, veracity, or likely predictive outcome. Furthermore, these comments are highly subjective and prejudiced by the writers own opinions and outlook. Therefore these views may be prone to errors, as they have not been checked by a third party, and are possibly incomplete and/or inaccurate. The opinions expressed here; are strictly on a “Without Prejudice” basis only. These personal subjective thoughts herein expressed, are only one view among many, and at best; are only the author’s whimsical thoughts, impressions, and intuitions. Obviously, as with all opinions, they are open to discussion and refutation, as well as consideration of other interpretations and review. For any investment decision, always do your own separate investigations and research, and always seek your own qualified and authorized third party independent financial advice.

Kindest Regards,

Robbo :)

robbo
26-09-2006, 05:24 PM
ite (ITE)

Nice Mooooove .... again today ...! [:p][8D][8D]

Kindest Regards,

Robbo :)

ohmyme
26-09-2006, 06:14 PM
I think this one will hit the radar of a lot of traders tonight. Hopefully some interest in the morning and continued strength. Either way plenty of fundamental news in the pipeline to maintain this re-rate.

tommy
27-09-2006, 11:17 AM
WTF! ITE up 15%, I am wetting my pants[:p]

robbo
27-09-2006, 10:08 PM
it&e -- (ITE)

Hi Tommy,

Re: - ( it&e – ITE) --

Glad to see you decided to Get on Board with it&e ......

to Tommy …and also….. congrats….. to BSA, ohyme, Edison, One Up, and everyone else here at the good ‘ol …. Safe and happy ….. Crownie PUB…..

Actually was just going over the PUB notes/and back of beer coasters ......and ...

it&e (ITE) is up over 65% or so; ...

Since this little thread was started.. ...which was only about 5-6 weeks ago !!

So again, also hope and trust as many Sharetrader.com (ASX Division) fellow Pub Crownie drinkers have got on board (ITE) as possible; and are sharing in these rather healthy capital Gains.

Quickly ought to re-summarize one very important point....


Who exactly are it@e, what do they do and Who are their Actual global clients??? [?][?]


IT&e is: a publicly listed Australian technology company that specialises in delivering technology solutions to the Financial Services industry.

ITE Financial Services division is headquartered in IT&e is headquartered in Sydney, with offices in Melbourne, London, New York, and Chennai India, offering a highly skilled team of specialists who provide technology services across the financial markets and risk management business areas.



it&e (ITE) now offers a highly skilled team of specialists in equities, financial markets and risk management systems.

Some of the current Clients of it&e now do include:

Commonwealth Bank (CBA),

National Australia Bank (NAB),

Westpac (WBC),

HSBC (Hong Kong Bank) ,

Fortis,

Bankers Trust,

Bears Stern Bank (USA) ,

Macquarie Bank,

Chicago Mercdantile Exchange (Worlds largest Commodity Stock Exchange),

Suncorp,

KBC Bank (Europe--Belgium),

Zivnostekska--Gernmany & Swizerland)--Bank,

Brown Bros Harriman Bank in UK and USA,

Penison France --Insurance, Superannuation and Banking,

Post Bank Germany/Europe,

BT Financial Group --United Kingdom,

Australian Stock Exchange (ASX),

ANZ Bank,

and other Banks, and finanical Institutions who have requested confidentiality--see it@e recent ASX announcements.....)....


IT&e offers flagship Trademarked products, RazorTM, PTXTM and Monarque®, to financial institutions.

*** Note the .... TRADEMARKS.

And these unique it&e (ITE) PRODUCTS... specificaly have the following features and unique critical applications and benefits:

Razor enables organisations to effectively manage their credit and market risk management requirements.

PTX enables on-line trading of over the counter securities across multiple asset classes.

Monarque supports trading and treasury management at major banks and broking houses, and comprises modules designed to automate front-office functions.

These products are offered to the global marketplace ...
---------------------------------------------------------------

>>..... Now as I was saying Tommy;

However, imo….for those who have delayed thinking about investing in - ( it&e – ITE) -- ; imo there is……….

…….. Very Good & high upside news ….

Imo, - ( it&e – ITE) -- is quite a rarely ever seen “bird” –in that its is both a Value Share with Global Current increasing significant Revenues and Sales….. and is potentially massively under valued and not yet fully understood…!!

So for that reason: imo- ( it&e – ITE) --, is quite a scarcely seen …. “Specia

Moonshine
28-09-2006, 12:37 AM
Hi Robbo,

Nice looking stock.

Any management concerns on this one, or does it get an up front tick on that front?

I still have a bro-blem that I am hoping will rectify [B)].

This current breakout still looks like it's got legs.

Cheers,

Moonshine

robbo
28-09-2006, 10:17 AM
it@e -- (ITE)

Yep, Good point Moonshine.

(ITE) Management (CEO and Directors)-- of it@e -- (ITE) are very long serving with this one.....seven... (7) plus years from memory-- and none have sold any holdings...in fact the Reverse..Directors have been Buying....and Holding....

Also you can see, that unlike the more spec like Investments, it@e -- (ITE) does now have seven (7) proven consecutive (7) years of REAL Revenues and Real hared dollars of $$$ Globally deriven Sales Inflow Incomes.....


You might also be more re assured to recall that it@e -- (ITE's ) major collobarators and Application Partners are explicitly -- Microsoft and Intel.-- .... who have "got in bed" on this with ite (ITE).

And that clear plain fact, is Published on the ASX announcements, on Micrsofit enthusiastic letter-head,(regarding the Software roll out with the Commonwealth Bank of Australia (CBA)-- and not the letterhead of ite's !


You will also, (I think) Moonshine like the extremely impressive Client list of it@e -- (ITE)--which also (you might assume)-- must have done Some form of Serious Due Diliegence on the veracity of it@e -- (ITE) bona fidas.

What do you think of this Client List just for starters?

You can only be impressed, imo with ome of the current it@e -- (ITE) Clients who you will note now do include:

(1) Commonwealth Bank (CBA),

(2) National Australia Bank (NAB),

(3) Westpac (WBC),

(4) HSBC (Hong Kong Bank) ,

(5) Fortis,

(6) Bankers Trust,

(7) Bears Stern Bank (USA) ,

(8) Macquarie Bank,

(9) *** Chicago Mercdantile Exchange ** (Worlds largest Commodity Stock Exchange),

(10) Suncorp,

(11) KBC Bank (Europe--Belgium),

(12) Zivnostekska--Gernmany & Swizerland)--Bank,

(13) Brown Bros Harriman Bank in UK and USA,

(14) Penison France --Insurance, Superannuation and Banking,

(15) Post Bank Germany/Europe,

(16) BT Financial Group --United Kingdom,

(17) Australian Stock Exchange (ASX) --(incorporating the Sydney Futures Excahange also). (ASX),

(18) ANZ Bank,

(19) ... and other newly won Bank Clinets , and other financial Institutions; who have requested confidentiality-- see the it@e recent ASX announcements.....).

Really glad that You are indeed, finding this of some special interest Moonshine, and of course, a "Hi" -- to all you other sharetraders, out there this morning.! :)

Kindest Regards,

Robbo :)
DISCLAIMER
Views expressed in this email and/or internet correspondences, are my tentative thoughts and opinions only. These views are not to be read as being, or forming…. any form of a recommendation; of any sort whatsoever. Rather, they just simply personal opinions, and are NOT financial advice. Furthermore, these views are unwarranted and ought not to be read, as other than personal opinion and speculations, and are not warranted in any way whatsoever, either expressed or implied, for their accuracy, veracity, or likely predictive outcome. Furthermore, these comments are highly subjective and prejudiced by the writers own opinions and outlook. Therefore these views may be prone to errors, as they have not been checked by a third party, and are possibly incomplete and/or inaccurate. The opinions expressed here; are strictly on a “Wi

robbo
29-09-2006, 12:08 PM
ite (ITE)

Once the T+ 3 Jubey Zoobies, are washed out of the Depth today--aren't they Sillies....fancy selling now--- wow-- imo and my guestimate only; is that ite will be about 17.5 -19.5 cents range by same time, same place-- Next Week --as looks to me that now more Instos are getting set, onto the ite stock Register.

errrr... Why so Robbo ...?

Well look at he quantum and size of the high volume of largish "Buy trades"-- over this last 5 days..... this is not Mums and Dads imo...

Secondly, I reckon we will see the so called sell side disapear suddenly once the T+ 2/3 crowd are washed out of the 'spin dryer'....

And ite(ITE) is a Prime Target for the bigger money to be in this space.... as well as the pipeline foing forward of course...(see previous posts).

Kindest Regards,

Robbo :)

robbo
03-10-2006, 01:12 PM
it@ e (ITE)-- (ITE -- ASX Announcement, just Out this morning)

In my view,

This it&e (ITE-- ASX Announcement, just Out this morning).... 3/10/06)-- -- gives a Very Important and Positive .....

--"Near to Now Time" ---- Clue as to what might be in store for it&e (ITE) investors in the very term ....:);)

3 October 2006 ASX announcement --for it&e (ITE)


IT&e appoints Ralph Pickering as Non-Executive Director


IT&e Limited (ASX: ITE), a leading technology solutions provider to the global financial markets, is pleased to announce that it has appointed Mr. Ralph Pickering to its Board as a non executive
Director.


In conjunction with delivery of the stated strategic objectives of the Company, the IT&e Board Nominations Committee sees benefit in adding further technology related M&A experience to complement the existing skills sets of the IT&e Board.

Mr Pickering, through his past experience and current executive roles, presents an excellent fit to this criteria.


Upon commencement, Mr Pickering will provide immediate assistance at Board level for navigating the Company through delivery of various M&A related initiatives currently being pursued to ensure the sustainable development of shareholder value across its various business activities and geographies of the Company.


Mr. David Bell, Chairman of IT&e said of Mr. Pickering’s appointment:
“Ralph brings with him significant past and current experience assisting to build companies in the technology sector through both organic growth and mergers and acquisition.”


He holds Bachelor of Engineering (Electrical) and Master of Engineering Science (Computer Science) qualifications.

Ralph is a Member of the Australian Institute of Company Directors and a Fellow of the Institute of Railway Signals Engineers.


Mr Pickering’s career highlights include:


• 1986 Chief Executive, Projects Division, GEC Alstom
• 1994 President and CEO, Cegelec USA
• 1997 Managing Director, TechComm
• 1998 Managing Director, Utility Services

• 2000 Managing Director, M&A, UXC

Mr Bell continued: “We are pleased to have Ralph join the team and look forward to his active participation in developing IT&e’s business opportunities over the coming years.”


About IT&e Limited


IT&e is a publicly listed Australian technology company that specialises in delivering technology solutions to the Financial Services industry.

IT&e is headquartered in Sydney with offices in
London, New York, Melbourne and Chennai (India) .

Its staff are a highly skilled team of specialists in
equities, financial markets and risk management systems.

it&e's Clients include Commonwealth Bank,National Australia Bank, Westpac, HSBC and ANZ.


IT&e offers flagship products, RazorTM, PTXTM and Monarque®, to financial institutions.

Razor enables organisations to effectively manage their credit and market risk management requirements.

PTX enables on-line trading of over the counter securities across multiple asset classes.

Monarque supports trading and treasury management at major banks and broking houses, and comprises modules designed to automate front-office functions.

These products are offered to the global marketplace..


Enquiries:

Jim Maranis, Managing Director +61 2 9221 7304
Oliver Carton, Company Secretary +61 412 149 118

--------------------------------------------------------------------

Kindest Regards,

Robbo :)

----------------------- ends --------------------------------------

robbo
03-10-2006, 05:04 PM
it&e (ITE)

Should... I ... ...errrr.... go out on a "bit of a limb" --and make an "educated" .... Pub Dart-Board -- "guestimate"-- (naturally with stated rationale and Value based & "discounted back" -- reasons) -- for the short term --re rating Share Price of ite (ITE) -- ?? [?][?]--

For the following three (3) Time Periods only.....[?][?]


ie: by:

(a) end of October --2006-- ...?? [?]

(b) end of November --2006-- ?? [?]

(c) Christmas to mid January --2006/2007. ?? [?]


Lots currently in the (it&e--ITE) Pipe-Line--and it will imo be zeee.... veeeery interesting.... :);)...

.....hmmmm.......

Kindest Regards,

Robbo :)- [?]

------------------------ ends ------------------------------------

robbo
03-10-2006, 11:13 PM
it&e (ITE)

Actualy AA, was just trying to keep everyone entertained -- [:o)][8D]

in this period of the ASX "Systems Upgrade"-- While The maddening crowd, await to get back their beloved -- "Depth Charges"--errrr...... Dynamic Depth -- back on again onto their PC Screens.....

... And are then able to resume Normal Transmission & get back for Day Trading on CFDs...(Which is not my scene but everyone to his own brand of beer--!! ) …….:):)

.... >>>> --- Okay then,enough stuffing around:

.... Prediction Time....

Ironically ...it is a bit easier, imo,to see out three(3) months….. than only (1) one month…....(from a probability point of view)

So looks like predict the hardest first.--re, what I reckon is feasible for the it&e (ITE) Share price going forward......

(1) End of October(2006) – it&e between: 17.5 cents and 19.5 cents.

(2) End of November (2006) – it&e between: 24 cents and 25.5 cents.

(3) End of December (2006) -- it&e between: 29 cents – and 33.5 + cents.

.... Okay Robbo, that …… was easy.... [:0];)

Why and how so ?

One of the Keys is contained in just .....three (3) little words ....contained in today's ASX announcement....

Those words are bolded in the script below, and are:

..."currently being pursued"....

For the first of these seven (7) Reasons and Clues.... as I said in my last (ITE) post ….

There is one (1) of the seven (7) clues,that I will now discuss that is contained, imo, in Today’s (ITE) ASX announcement.

(1a) Something Big, imo, is going on, and let us put some of the clues and evidence together …. and "join some of the dots"--

“ …… Upon commencement, Mr. Pickering will provide immediate assistance at Board level for ……

……..navigating the Company through delivery of various (Merger & Acquisition -- M&A --) currently being pursued …….. ...>>> to ensure ...<<<....the sustainable development of shareholder value across its various business activities and geographies of the Company…..”

…. >> .. (for more elaboration, see my notes and the Full Announcement on my it&e (ITE) previous post on this (ITE) thread today…..

(2b) Next part of the clue, is to see what Mr. Pickering is also doing now….. ( Director of M&A at 230 Million market cap ASX IT Co—UXC)…..

(3c) Clue 3 -- is the stated timetable of the AIM London listing …. Of it&e….

This is well within the 2- 3 month frame, that is encapsulated in the share price targets I have “guestimated “.

(4d ) – Which brokers in London are likely to …imo, “wheel behind"-- and begin to provide official coverage for the newly listed in the UK,it&e in London…??[?]

Well given one fact that is now in Public domain, & we are talking the advising is being by one of Big Three, Tier One Accounting Firms in the UK, namely done by Ernest and Young, and it&e has its roots in the Banking Sector….—at a minimum would be think

robbo
04-10-2006, 09:51 PM
it&e (ITE)


Hi to all it@e (ITE) watchers….

Yes, AA …. The Depth does begin to look a tad juicy…..:)..And I do agree there on this point......

But for me AA; this fact, was not the key point to come out of today’s 13.4 % rise in the ….. it&e (ITE) …. quoted Share Price ……

- -- Although of course AA, yes.... it was encouraging …..

And also AA, Nor was it …… what took … my eye, the fact that the 13.4% increase in the ….. it&e (ITE) …. share price..... did indeed happen, on a day when the ASX All Ords was down by 40 points, so it&e did today, significantly defy …... the trend.

And yes admittedly AA, it was mildly interesting ……from some Technical folks point of view, that it&e, calmly waltzed through …. an ALL Year High today — [:p]-

....>>> However.....neither was this actually what REALLY took my attention today about the 13.4% increase in the … ….. it&e (ITE) ….share price today….

No. Indeed not AA .....;);)

Actually AA, there were INSTEAD ... >>> TWO (2) OTHER SIGNIFICANT more IMPORTANT elements;imo, (about the it&e's ) - ITE - Trading today -- that took my rather ….. jilted perspective…… -- [:I];)--- from the skewed angle of the PUB hammock:) ….. while reading the comics section of the paper, ..... early this afternoon …..

However, so as not to totally “spoil the party”, would anyone else like to hazard a guess; as to what might also have been…..-->>-- the two (2) more significant things (in my view at least)-- re: today’s trading in it&e (ITE) … ... -- ??[?][?]

Kindest Regards,

Robbo :)

Merseyredboy
05-10-2006, 08:10 AM
Idea one wasn't ralph one of the main characters from happy days.......

robbo
05-10-2006, 11:26 AM
Heh ... Merseyredboy....[8D]

With all the Happy Days memories you have just conjured up Merseyredboy ..... from "Ralph Mouth", Potsy, Richie, The Fonz and the gang.....[8D]

Have to say; The Pub awards you..... Merseyredboy.... one of the Big Prizes......[8D]

Love it..... [:I][^]

Looking through the Pub 'Grab Bag of prizes', yep,..... you get one of Uncle Maxie's only 1/4 eaten Mars Bars----.... errrr.... from last year....

Sooooperb... [^][^]:)

Congrats,and Kindest Regards Merseyredboy...

Robbo :)

robbo
05-10-2006, 12:45 PM
it&e (ITE)

Hi guys & gals, '


it&e (ITE) is Up another 15.5% -- following the nice rise of over 14%.3% for it&e (ITE) yesterday....:)

Might have to soon, REVISE -- upwards ..... that Pub prediction; re: it&e (ITE) likely Share Price by the end of October... from 17.5 cents to 19.5 cents....to over 21.5 cents ....with the way tings are proceeding....;):)

ie: so that Guys, revision..... is....... possibly going to be needful of being....

...... errrr ... >>.. - --- Up --.... :)[^]

--- A further clue, to The answer to one of the two (2) Observations in reply to AA, ;- in my post, only two(2) posts ago, was related to the SIZE of the it&e (ITE) Buyers versus the size of the Sellers....

With the way the it&e (ITE trend is going, and the sort of larger Buyers coming in now, it&e (ITE)-- it&e Could go to 20 cents .....in a heart - beat......... by the looks......

Kindest Regards,

Robbo :)

ohmyme
05-10-2006, 01:01 PM
Wow Robbo that dart board of yours must be really magic. Very nice move for ITE today on top of an already impressive performance over the past month. Good to see a real business with real revenues getting some attention from the market.

cheers.

robbo
06-10-2006, 01:20 PM
it&e (ITE)

One does just have to smile -- :);) at the Brokers who have put the manipulative pseudo ite "Sell Orders" for 750, 000 shares deep Down into the Sell Side ite "Depth"; -- at 20 cents and 21 cents --!! -- respectively ...... and also; the 450, 000 shares at 16 cents ..... --hmmmm -- that is a total of: 1.2 Millions shares that have been "put" [V] ;)--in the ite Sell side depth ....;)

Take the 1.2 millions off the "artifically induced" sell side --

and we have only approx 500, 000 - 650,000 shares on "sell" side... tops ....:)


Sure these same brokers... will "stay" there too.... --not-- [:0];) --ie: when it suits 'em watch em move ...... These brokers Must think; that we are ALL Motley Fools ! [}:)] :)

Back to the Pub's comfy hammock [|)]:).... As we round out a nice week .........

.... >> Still on target to beat the forecasts from 48 hours ago or so -- and ahead of schedule even ... [?]:)

Kindest Regards,

Robbo :)

---------------------------------------------------------------------

robbo
06-10-2006, 04:30 PM
it&e (ITE)

Looks to me,(see also my previous Post here on it&e (ITE) thread) - like the Small Fish are transferring their under-valued wealth -- to the Big Fish--- Again --- this afternoon.... :)...

(Typically today--three smaller silly (imo) Sellers; are being taken out by One Larger Gulp --every time; of a Bigger it&e (ITE) Buyer ... [:0];)

Going to be unfortunately difficult for them (smaller INvestors) --imo, to re enter (ITE) at these sorta lower (ITE) levels... come to Monday.... is my own view....

Oh well, it is Very Good -- [^]:)-- imo, for it&e Current Investors, as the Bigger Buyers will normally Provide more Long term AND Stable Support for THE Value of the ite (ITE) Stock --for the weeeks and months ahead. [^]:)

Kindest Regards,

Robbo :)

robbo
09-10-2006, 01:42 PM
it&e (ITE)

... >>> Hi Everyone,

Do you all know about .... the Basel --11 Financial Accord ....??


Like to .... Focus for the moment on Basel--11-- :):)-- and what this can do for it&e in Europe.... :)[:p][:p]...

This point is, imo, one of the Key: Sustainable Competitive Advantages (Global) for it&e ...in the immedaite next 2-3 months... :)

And this is; imo, definitely related to the European Union and the signing up—by all the European Banks, Insurers, and Financial Institutions to the Basel—11 – Accord-- Financial & Regulatory Risk Compliance Accord.

The Big Advantage and Selling Point of it&e (ITE) is ……

....that they ....(ITE) .... have a Trade Marked and Proven — in their Developed especially for:-- Financial Institutions Risk Management Superior Software Suite –especially with, it&e’s Razor Software ™ -- to be able to effectively Monitor Risk and Comply with Basel –11 in this respect.


What is and does Razor actually do and is capable of:??

IT&e’s products include Razor, which enables organisations to manage their market & credit risk requirements.


Razor - Sharper Credit Risk Management..

Of the three flagship products, Razor, PTX and Monarque, which it&e (ITE) to global financial institutions., ...

let us now only look/focus on: RAZOR (TM) .

Razor is an enterprise-wide credit, market and liquidity risk management solution, and was recently awarded...

>>>... *** the Risk Management Software Product of the Year by: >> 'Risk Magazine'.


Razor provides:

Integrated Credit and Market Risk: Razor enables credit and market risk to be managed within a single application. RazorÂ’s Monte Carlo based Credit Risk module, and VAR based Market Risk module are also available separately.
Performance: We have used grid computing to enable intra-day credit risk calculations using Monte Carlo simulation.
Comprehensive Limit Management: Razor has a comprehensive limit and excess management framework.
Single Customer View: Razor supports integration of a bankÂ’s lending and trading portfolios, enabling a single customer view of exposure across the enterprise.


Oveall it&e as a company can be summarized thus:

IT&e is a technology company with the reputation for delivering cutting edge solutions to the Financial Services Industry. IT&e is public company listed on the ASX. Our domain expertise includes equities, funds management, financial markets, general banking businesses and insurance.


IT&e offers three flagship products and service-based solutions to enable development of complex application solutions for the financial services industry.Apart from the highly successful RAZOR<, it&e also ahs two other Core Software Solutions used as Core Requiremtns by Banks and Stock Exchanges etc.

These include:

(2) 'PTX' which enables online trading of over counter securities across multiple asset classes.

(3) The third product is: Monarque covers Front, Middle and Back office functionality for Treasury & Capital Procesing....


IT&e is headquartered in Sydney and maintains state-of-the-art development centers in Australia and India and regional offices in the USA and Europe.

Remember, it&e Software in Europe; has already been recently taken up by many financial Banks and Institutions:


Existing client business out of our London office comes from the following organizations:

• HSBC
• KBC
• LLBW
• Post Bank
• Bear Sterns and
• Fortis Bank.

[i][b]All with

tommy
09-10-2006, 01:58 PM
Robbo,

Hi mate, it's BASEL II, not BASEL 11...

Here's for reference:
http://www.bis.org/publ/bcbsca.htm

It basically addresses the issues left untouched by the 1988 Accord, see
http://www.bis.org/publ/bcbs119.htm

The regulatory climate is in favor of ITE on an international scale in terms of risk management.

ohmyme
09-10-2006, 02:08 PM
I have done a lot of research into Basel II, its quite funny Basel I was like 10 pages of regulations, however there was lots of room for regulatory arbitrage and criticism from industry about how sp**** it was, well the regulators have certainly fixed this, the Basel II acord is now hundreds of pages and very complicated. To cut a long story short large international financial institutions will have to have more sophisticated systems to track their credit and market risk, however the biggest contraversy is introduction of operational risk, which is basically all other risk except market and credit risk (dont worry ITE's razor back supports operational risk as well). They are trying to force banks to hold capital against their operational risk to stop such things as rogue traders etc.

Anyways I believe that ITE is tuned into the right space moving forward. Banks are throwing squillions of dollars into this to try and meet the requirements on time. As the world becomes increasingly connected and global, this area is only going to become more complicated. Plenty of work for the forseeable future :)

cheers

tommy
09-10-2006, 02:18 PM
Hi ohmyme,

Yeah, I have done a lot of work relating to Basel II too and surely it is a major improvement compared to the original Accord, as financial institutions must meet their capital adequacy requirements in stricter terms under BASEL II.

The Basel II framework consists of three 'pillars':

- Pillar 1 sets out the minimum capital requirements firms will be required to meet to cover credit, market and operational risk.
- The rules under Pillar 2 create a new supervisory review process. This requires financial institutions to have their own internal processes to assess their capital needs and appoint supervisors to evaluate an institutions’ overall risk profile, to ensure that they hold adequate capital.
- The aim of Pillar 3 is to improve market discipline by requiring firms to publish certain details of their risks, capital and risk management.

Risk management comes into play at all three Pillars, and the supervisory approaches are currently being laid down by the authorities (they seem to vary from country to country due to legislative differences but are currently being ironed out towards standardization).

Very interesting field, considering that it is truly the single most significant global regulatory change for the finance sector.

robbo
09-10-2006, 03:01 PM
Hi Tommy and Ohmyme,

Many sincere Thanks for the extra-- exceeellent- [8D] information regards: Basel -II --[^]:) .

Very informative and helpful. Good stuff.

Hey Tommy; do you /did you ever Study Finance Related subjects [?]?? You do sound very informed and aware of this area surrounding Basel II ... [^]

Do know guys; that it&e are NOW focussing much of their Corporate Energy and Sales/Marketing efforts; at present-- in Europe; to take advantage of the opportunities that Basel-II compliance presents-- both with getting new Bank/Financial... Institutional Clients; and also to leverage from theirIITE) exisiting current UK & European Client base. :)

Kindest Regards,

Robbo :)

tommy
09-10-2006, 03:22 PM
quote:Originally posted by davidrob

Hi Tommy and Ohmyme,

Many sincere Thanks for the extra-- exceeellent- [8D] information regards: Basel -II --[^]:) .

Very informative and helpful. Good stuff.

Hey Tommy; do you /did you ever Study Finance Related subjects [?]?? You do sound very informed and aware of this area surrounding Basel II ... [^]

Do know guys; that it&e are NOW focussing much of their Corporate Energy and Sales/Marketing efforts; at present-- in Europe; to take advantage of the opportunities that Basel-II compliance presents-- both with getting new Bank/Financial... Institutional Clients; and also to leverage from theirIITE) exisiting current UK & European Client base. :)

Kindest Regards,

Robbo :)


Hi robbo,

No, my background is law but I frequently work with financial institutions and authorities so I often deal with financial regulations... so that's why I like ITE! Massive potential indeed, major banks across the world are scrambling to find ways to minimize the cost of risk management, especially financial conglomerates which operate in many countries.

However, I am not quite convinced of the competitive advantage of ITE's solutions compared to the likes of:
SAS
http://www.sas.com/solutions/riskmgmt/
or
SAP
http://www.sap.com/solutions/grc/index.epx

Is anyone knowledgable in this field?

robbo
09-10-2006, 03:38 PM
ite (ITE) Thanks Tommy,

Interesting to hear you are a: 'Legal Eagle' -- Take it by that; you are a IT --or related lawyer ??

BTW Tommy, re your specific question:

(1) Is/Are:-- SAP and SAS --Sun Micro Systems/Unix based ..... ?

(2) Related but different Second point on the relative competiviness of ite (ITE) Razor Product line--- which was was my own core area of Research... --Do now know that on quite a few of current Euro Tenders etc... :

ie: The Larger current IT Software for this Function with the Euro Bank Tenders, and similar (R.F.P.'s)-- ie: Request For Product Submissions by the larger Euro Institutions-- did come across, seemingly two new interesting bits of intel that I think is relatively reliable... .... ;)

(a) ite is in the final two--from 15 plus Tender submissions--in most of the Tenders... ... from what I hear ...at The Pub....

(b) Secondly-- Hear that--??-- One of the previous Main players is now leaving this specific arena due to their not being able to compete with ite....on a features/benefits or functinality or speed basis. .. Competitors were; Not even in same ball-park....

(3) Third Pub whisper--is some possible--??-- merger/aquisition--??-- news which might be related to points you raise-- 'on the horizon'--trying to get clarification-- from soures re this Tommy.

PS. Tommy -- Might be having lunch late this week/early nest week--??-- with the ASX Head of IT --Market Systems at the Sydney ASX--who are using Razr--any specific question -- technical or otherwise you would like me to ask him ??


Kindest Regards

Robbo:)

DISCLAIMER
Views expressed in this email and/or internet correspondences, are my tentative thoughts and opinions only. These views are not to be read as being, or forming…. any form of a recommendation; of any sort whatsoever. Rather, they just simply personal opinions, and are NOT financial advice. Furthermore, these views are unwarranted and ought not to be read, as other than personal opinion and speculations, and are not warranted in any way whatsoever, either expressed or implied, for their accuracy, veracity, or likely predictive outcome. Furthermore, these comments are highly subjective and prejudiced by the writers own opinions and outlook. Therefore these views may be prone to errors, as they have not been checked by a third party, and are possibly incomplete and/or inaccurate. The opinions expressed here; are strictly on a “Without Prejudice” basis only. These personal subjective thoughts herein expressed, are only one view among many, and at best; are only the author’s whimsical thoughts, impressions, and intuitions. Obviously, as with all opinions, they are open to discussion and refutation, as well as consideration of other interpretations and review. For any investment decision, always do your own separate investigations and research, and always seek your own qualified and authorized third party independent financial advice.

Kindest Regards

Robbo :)

tommy
09-10-2006, 03:57 PM
Hi robbo,

Nope, I'm no lawyer mate, although I do a lot of legal-related work (more on the legislation side though). And I'm no IT expert, just a geek that loves technology[|)]

You having lunch with the ASX head of IT?! Gee, you certainly are a busy boy robbo[8D]

I would be particularly be interested in knowing his/her opinions in regards to:
(1) Pros and cons of Razor compared to rival solutions from a user's perspective, including stability, reliability, ease of installation, upgrades, maintenance, upscaling, etc.;
(2) Quality of technical support by ITE;
(3) Price competitiveness of Razor
(4) Speediness in responding to "bugs" and other glitches in system

Err... that's all I can think of at the moment. Cheers mate!

BTW, are you suggesting UXC might further increase its stake in ITE?

robbo
09-10-2006, 04:12 PM
Hi Tommy,

Yeah…must admit to racking up the odd Frequent Flyer mile or three… ..

Fortunately do like the odd bit of travel—and different aspects of all the Aussie Capital Cities.!!

Thanks for your questions to ask the guy from the ASX Tommy. Am on it, and will have answers back .... hopefully by the weekend

Being not as intelligent nor as smart as most Share Investors;[8D]--- have to often ....do it.... the old fashioned way; and:-- “talk to those who USE the Co's services & products--- whether it be suppliers, customers, employees, etc etc. –ahhhh well…sometimes still works for me !!

RE: UXC. – Reckon answer Tommy; is a rather, imo, “ higher than likely “ — so imo that is probably a relatively clear “yes”.

But here is the: “curve ball”-- That is not, imo, where the M& A activity--directly-- is coming into 'the equation' — is my best guess.

That 'curve ball'-- could involve --- imo-- ite (ITE) being the acquirer or major Merger Partner — or for the right price –being absorbed into a Larger IT&T European Player …. –Who wants the it&e Proprietary Tech — (due to Base II)--- and who offers the Sector the Euro required entreched Reputation; Size, Capital Structure and cache ….[?]:)

However,imo..and I would be mainly... guessing --but my money is on a hybrid of .... the former option ..– and reckon this is/might be related to:

(1) The AIM London listing to be announced.... any week soon now.

(2) And the recent appointment of UXC Director –( Mr. Ralph Pickering — see ASX announcement)-- who specializes in M&A to also sit on the it&e Board of Directors. –to drive this M&A strategy through—to benefit both parties—both it&e and UXC.

So in summary: Guess it is a case of;

(1) It will be a busy and interdesting next: 1 and 2 months for it&e..... and therefore: >> Watch this space.....!!

Kindest Regards,

Robbo :)

DISCLAIMER
Views expressed in this email and/or internet correspondences, are my tentative thoughts and opinions only. These views are not to be read as being, or forming…. any form of a recommendation; of any sort whatsoever. Rather, they just simply personal opinions, and are NOT financial advice. Furthermore, these views are unwarranted and ought not to be read, as other than personal opinion and speculations, and are not warranted in any way whatsoever, either expressed or implied, for their accuracy, veracity, or likely predictive outcome. Furthermore, these comments are highly subjective and prejudiced by the writers own opinions and outlook. Therefore these views may be prone to errors, as they have not been checked by a third party, and are possibly incomplete and/or inaccurate. The opinions expressed here; are strictly on a “Without Prejudice” basis only. These personal subjective thoughts herein expressed, are only one view among many, and at best; are only the author’s whimsical thoughts, impressions, and intuitions. Obviously, as with all opinions, they are open to discussion and refutation, as well as consideration of other interpretations and review. For any investment decision, always do your own separate investigations and research, and always seek your own qualified and authorized third party independent financial advice.

Kindest Regards

Robbo :)

tommy
09-10-2006, 04:22 PM
Hi robbo,

Thanks for the reply, appreciate your opinion as always[:I]

What da, ITE potentially being the acquirer?! Never thought about that, but it would be an interesting development. Indeed, this space deserves to be watched!

Keep up the good work mate:)

ohmyme
09-10-2006, 04:58 PM
To be honest Tommy I believe (and quite a few others) that Basel II is a joke of sorts, and may be a step in the wrong direction for financial regulation. The level of red tape that it is imposing on financial institutions is staggering, and the level of return or benefit is yet to be seen. The problem stems from the modelling requirements of the Accord. There are certain underlying assumptions in the modeling techniques that just don’t apply to such things as operational risk for example. There are also a range of issues to do with the way they want market risk modeled. They are trying to employ certain actuarial methods that are used for modeling weather for example. The problem with this is that it assumes that the data is external to the participant, as we know this is far from the case and the financial institutions actually make up the market and can effect it, so if a wide range of companies are using the same models to measure the level of risk they are holding, when a crisis does occur, everyone will be acting on the same data, using the same models and the Basel II requirements may actually exacerbate the problem. Anyways this is only the beginning and it’s beside the point, the Accord is going through, and banks will have to implement systems to support it, regardless of the validity of the requirements. This is all great news for ITE.

cheers

tommy
09-10-2006, 05:37 PM
Hi ohmyme,

Certainly Basel II is not without flaws and is copping criticism for the amount of administrative burden imposed on financial institutions by the regulators, not to mention the likelihood of increased financial inspections to ensure compliance with such risk management requirements on top of existing capital adequacy rules. There is also bias against developing countries that have no banks with such sophisticated risk solutions resulting in their limited access to credit (and probably more costly). And, as you said, business cycles might become more violent: in a recession, banks have to reduce loans as their models project heavier loss, which might worsen the recession.

Basel II may be an overkill in terms of red tape, no doubt, with few visible benefits. But there are certain benefits as it explicitly makes financial institutions liable for executing quantitative risk management in the first place, tied with capital adqeuacy, and it seems to make it easier for regulators to have a better grasp what financial institutions are actually doing in their operations (though this is highly debatable).

BASEL II is a compromise between all leading nations, so in terms of financial sector stability, I don't see BASEL II making any difference at all. Ratification and enforcement are two completely separate issues... a nation will have to endorse BASEL II but whether all financial institutions abide by it is up to the regulatory authority of that nation. But lots of financial institutions should be interested in ITE's Razor if it reduces the cost of risk management to keep regulators happy:)

ohmyme
10-10-2006, 11:52 AM
Tommy I am pretty sure that the major players will comply with the requirements of BASEL II, and more importantly will employ the advanced methods for the capital requirements, regardless of whether their government enforces it or not. The carrot for banks to do this is the prospect of holding less capital, its all about show as well, if you are bank XYZ you want to be utilising the advanced methods recommended in the Accord and not the basic ones such as fixed capital ratios. This will send a strong signal to the market.

All that aside, its the process that counts, and I agree that there probably wont be any change to the banking system as a whole. As to whether this will have any effect on market cycles moving forward, I guess we will have to wait and see.

I did my Masters thesis on the challenges facing banks in modelling technology risk (as part of operational risk) in response to BASEL II, in particular the challenges in meeting the advanced capital requirements through modelling etc. Lets just say that the challenges are rather large, and there are no obvious solutions out there (that make sense anyways).

I think Robbo made a very good point about ITE, in order to build credibility and be at the forefront of this industry they will need some pretty impressive people who have lots of experience in Risk management for the financial sector. And coincidently ITE are doing this exact thing (check out the team they are putting together).

cheers.

tommy
10-10-2006, 12:34 PM
Wow ohmyme,

You did a master's thesis on Basel II?! Gee you must be an expert in this field then!

You are definitely right in that most big financial institutions will NOT use standardized or foundation Internal Rating-Based (IRB) appproch but will go straight to the advanced IRB approach in 2008 for the sake of being able to say "yeah man, I'm sooo sophisticated" to its smaller peers[}:)]

If you publish your thesis on the internet, please let me know because I will be highly interested in your analysis mate!
BTW, do banks have to take into account the operational risks arising from tsunamis and earthquakes[?][:o)][:X]

Going back to the subject, I think ITE is surely at the right place (market) at the right time (Basel II)! Let's wait and see how good they are in marketing themselves to the world... happy holding[:I]

robbo
10-10-2006, 12:39 PM
it&e (ITE)

Hi Tommy & Ohmyme,

Spoke to the ASX person, re. to confirm Lunch – that is... the guy who heads up the ASX -- in that central part of the IT area; from the ASX , and who is specifically in charge of the it&e (ITE) Razor Product implementation’ for the ASX ’s ‘Clearing Risk Division’--.

And while arranging for next week, have now gleaned some interesting points. Before sharing them Tommy, must say that your: “ listed questions” were very helpful.

Okay then....

(1) First point was that Razor was chosen against, ……..
.... twenty one ( 21), full Alternative Tenders, from the ( 21) other Global Vendors/ IT Competitors. These competitors came from Israel, USA, Europe, etc....

ASX is seen as a Highly desired ‘Reputation Reference Site;-- for Software Systems Providers,who opeate in the 'space'-- .... in Risk & Compliance—due to the ASX being the largest in Southern Hemisphere, and more importantly due to the reputation of Australia as a first world economy with relatively Stable, Transparent and well Governed/Legislated ….. ethical Compliance Capital Markets.

(2) The Key Reasons, that I gathered from this guy; as to:

'why'.... it&e's Razor was Chosen..... after a six month Investigation and Review ..... of all of the available Options; by the ASX Buying Committee -- was primarily due to four (4) main Key Performance Indicators.(K.P.I.’s)

They were as follows:

(a) Accuracy

(b) Functionality

( c ) Ability to configure, and adapt the it&e Designed Software to ASX Proprietary requirements.


(d) The higher and more comprehensive “real time” level of Support Systems, provided by it&e.

Tommy, the stress from our 'phone chat' -- imo, was primarily regarding the first two (2) main Key Performance Indicators.(KPI's). (K.P.I.’s)— on which the it&e Software Solution, was chosen over the twenty one (21) other ....global Software Tenders.

Simply put, that it&e(ITE) could more readilly handle and 'crunch the numbers'-- and deal with the high level Mathematical Probability quantum of Data better...

This was added to the fact that it&e (ITE) could handle the computational Statistical Data in a far superior mathematical manner, primarilly with a far greater level of: Performance, Speed, and most importantly of all .... Mathematical Accuracy.

So then; It was on (a) speed, (b) accuracy and (c) performance.... to do the required high level “computational grunt’ of the sheer weight of daily Math and the various “risk Profiling” needed to be systematically and regularly done with all the ASX's requirements in ASX's calculations and tests-- that wond the day for it&e.

This was especially the case due to the ASX's High Level as requiements regards to the various permutations and combinations of the ASX's own needs regarding the various mathematical “Risk Scenario Modelling and Simmulations ,the mathematically calculated “Risk Stress Tolerance Tests” that providethe ASX with the info they require to Montor the situation on a minute toi minute 24/7 basis.

It was these reasons, wI gathered, that provided the compelling case to go with it&e (ITE) .

Also, at the end, theire was 'daylight' -- between it&e and the rest--which I found suprising. There was a clear superiority in demostrated funcional performance capability . So, for the ASX, it was a clear choice at the end of the selection process.

He went on to ramble about.....

Due to the Core needs of the ASX re ... -- all the trading from both the global Hedge funds, the Commercial trading and day tr

tommy
10-10-2006, 12:51 PM
Excellent report robbo, cheers for sharing that info with us! You are a legend, high five to da crownies[:p]

So, from the sound of it, ITE has a far superior product compared to its peers though not the cheapest on the market... which naturally makes me think that stock exchanges, big banks and multinational financial conglomerates might be more interested in taking up its product than small regional banks.

I wonder what kind of margin ITE operates on, and how its contracts define the revenue stream (i.e. one-off fee per project? recurring revenue based on annual subscriptions? ongoing maintenance fee after installation?)

Are they primarily targeting US and Europe at the moment? What about Japan?

robbo
10-10-2006, 05:25 PM
it&e (ITE)

Hi Tommy,

Have a lot more fresh new info to share--but Pub a bit busy right at prsent...

Re your reflection & comment about... ** Regional Banks.... in your last post, thought I would quickly add ....

Yep, they (ITE) tend to, and ahve proven that they Win the Larger Stock Exchanges and Global Big Banks --including the Big Four Aussie Banks-- but also....

.... On the 12/12/05-- it&e (ITE also Reported to ASX-- winning the Risk Management Core Process Software.... as Preferred Supplier for a Aussie Regional Bank as well.... :)

Regards,

Robbo:)

ohmyme
10-10-2006, 06:59 PM
Hey Tommy,

That information can be gleaned from a past ASX announcement. Back in 21/04/05 they provided a sales update for their PTX contract for a major Australian bank for their online trading etc. This contract had an initial fee of $3.2million and then $480k per annum in maintenance fees. I think this gives an idea of the pricing mechanism behind their products. The key for me is the maintenance fee, and I believe this plays a large part in why companies select ITE over other companies.

I would expect any contracts for major interntaional banks to be much larger than this. Gives an idea of the scalability and just how easily they will be able to boost revenue and profit figures this financial year, if they land more international contracts that is. Lets just say that the risks of holding this one pale in comparison to not holding. When and if they do announce more contracts, then we shall see the power of leverage.

I believe that this company out of the entire ASX bourse offers the highest utility (in other words for the given level of risk provides potential for the greatest returns). For this reason ITE is my largest holding. Thanks to Robbo's private and independent and extremely raw and unobjective ongoing research on this one. When this one pops it will make SEN's price rise look like a green slope run. For any adventurers out there I believe that ITE could at any moment turn into a diamond black run, I hope everyone is strapped in, there has been plenty of notice given.

cheers

robbo
11-10-2006, 12:24 PM
ITE (it&e)

Here We Go Now.... --All year New -- 12 Month High for (ITE) of 15.5 cents .... now achieved this morning -- for it&e (ITE) -- on Strong Higher bigger Buy-Side Volumes --- (.....Signs may be clear now, of the stronger Fund Money moving in now ....by the looks...[?][^])....[:p]

-- Remember Guys, .... that ite(ITE) did get to 42 cents when it last went for a run .... back in July 2004......And the Company (ITE) is Much more Progressed and established Company now .....

Kindest Regards,


Robbo :)

BSA
11-10-2006, 01:01 PM
Yep remember the previous run to 42c well Robbo as I rode most of it and traded the swings.
Recent price action has been up into an old consolidation zone from 2005 so been having a pause soaking up the sellers from this region,...the next res level to beat is around 18c(lets say 20c for roundism)
Nice to see sabres rattling again this morn:)

Cheers

tommy
11-10-2006, 01:28 PM
Wow, ITE hitting 16c now, I am wetting my pants[:p]

Tempting to collect some profits here but, mmm, will I be able to pick up at low 0.10 again?

This one is going up toooo fast:D


PS Thanks for the clarification ohymyme, appreciate your reply! Keep up the good posts mate!

robbo
11-10-2006, 02:37 PM
it&e (ITE)

Hi gals and guys,

I personally now 'smell'-- ;)-- that a biggish it& e (ITE) Announcement------(which imo, will put it&e (ITE) --into a "Pre-Open" situation... / ... or, short term '4' hour -- "ASX Trading Suspense"- ) -- errrrr .... is.... now,... not very far away......in fact, not far away .... at all .... :);)

For me the Interesting Facts regards it&e (ITE) about the 14% share Price rise; to 16 cents,is not:

(1) So much the 14.5% percentage increase, in today's it&e Share Price.

(2) The fact it&e has hit 16 cents on Strong Volumes....

These points are interesting but are not, imo, as Fundamental.

(3) Instead; The Fundamental fact (and excellent Good News--imo--- for the Underlying Long Term re rating of it&e's Truer Value, and Long Term Holder/Investor support for it&e, (for me), is that much of the it&e (ITE) Stock Buyer Activity in it&e Stock; is now at larger chuncks of Investment Monies; usually .... between $20 000 and $30,000 and $45, 000 per purchase, and 'buys' at at a time.... with One Buyer, now regularly "taking out" of the it&e game .... say 4 or 5 smaller previous it&e share-holders who became short term profit takers and Sellers.... :)...

Was also interesting, to go back only one (1) week ago---

........ >>> ...--- When I wrote this: (unedited)


".... >>>> --- Okay then,enough stuffing around:

.... Time To Predict it&e (ITE) short Term going Forward.... (ITE) Share Price ....

Ironically ...it is a bit easier, imo,to see out three(3) months….. than only (1) one month…....(from a probability point of view)

So looks like predict the hardest first.--re, what I reckon is feasible for the it&e (ITE) Share price going forward......

(1) End of October(2006) – it&e between: 17.5 cents and 19.5 cents.

(2) End of November (2006) – it&e between: 24 cents and 25.5 cents.

(3) End of December (2006) -- it&e between: 29 cents – and 33.5 + cents.

.... Okay Robbo, that …… was easy.... [:0];)

Why and how so ?

One of the Keys is contained in just .....three (3) little words ....contained in today's ASX announcement....

Those words are bolded in the script below, and are:

..."currently being pursued"....

For the first of these seven (7) Reasons and Clues.... as I said in my last (ITE) post ….

There is one (1) of the seven (7) clues,that I will now discuss that is contained, imo, in Today’s (ITE) ASX announcement.

(1a) Something Big, imo, is going on, and let us put some of the clues and evidence together …. and "join some of the dots"--

“ …… Upon commencement, Mr. Pickering will provide immediate assistance at Board level for ……

……..navigating the Company through delivery of various (Merger & Acquisition -- M&A --) currently being pursued …….. ...>>> to ensure ...<<<....the sustainable development of shareholder value across its various business activities and geographies of the Company…..”

…. >> .. (for more elaboration, see my notes and the Full Announcement on

tommy
11-10-2006, 02:46 PM
Hi robbo,

Surprising they haven't got a speeding ticket yet... is the rise attributable to the London AIM listing being just around the corner?

robbo
11-10-2006, 03:32 PM
it&e (ITE)

Hi Tommy,

Answer is sorta: imo-- 'Yep'-- ...........

But the impending; it&e (ITE) AIM listing in London.... is not the 'main driver'--imo-- of the current larger:-- >>-- Longer term Money.... which is now 'getting set' ... onto the current -- it&e (ITE) Share Register-- "

- Tommy, in my own view -- how can I say--??-- , it is sorta like..... imo-- and from my own assessment // research and investigations-- ;);) -- like-- now it&e's -- 'Time has Now Come' ....--.

..And the significant, 'confluence' of Events and Commercial developments bubbling away; for it&e -- are all possibly about to soon/ and... 'now-ish' -- begin to now.... really merge and meet ...This is my 'read' Tommy, of what we are now seeing ....

--Again I reiterate--look at; the Size...of the it&e Buys--. :)--which are "gettting set" onto the (ITE)-- share register .

Kindest Regards,

Robbo :)

tommy
11-10-2006, 03:43 PM
Hi robbo,

Cheers for your opinion mate, highly appreciated. Damn, I should have topped up more ITE yesterday but I was hoping for a temporary pullback due to T+3 sellers... which obviously did not happen! Kicking myself for trying to "time" the market for a good top-up point but oh well, at least RFG is now waking up too[:I]

Any idea when ITE might do an investor presentation or roadshow? Or are they just too busy selling and marketing their products?

robbo
11-10-2006, 05:17 PM
it&e (ITE)it&e (ITE)

Interesting point you make Tommy...

I really take my HAT off to those folk who CAN actually 'Time' the market....like that....

I know I would NOT be one of them, nor would I ……ever, ever….. be able to do that Tommy.

For me, ......there would be too many….. unknown ……permutations and combinations -- at least, from where I sit. ...

But then again, I have never ever tried to: "time the market"---[:I]

How does the, "Time the market theory" sorta work Tommy...??

-- Do you sorta:-- "Buy"-- and then set your clock for say-- 48 hours, or ....84 hours...??

--And then do you try to ..... nimbly and dexterously --- try to get--- 'in and out' -- as quick as a flash-- 'at the top'.... and quickly & quietly..... .'creep in again' ..... at the bottom of the 'little small dip' .... and then, try to "time"-- just precisely ..... 'when' and 'how' that may be .... and 'how' .... and 'why'.... that may. ... or even 'when' that may, or may not occur .... ??

Is this not .... sorta .... sometimes, a little stressful..??[?]

And how do folk who can "time the market"-- ever gauge ... precisely ..... What exactly.... other people or Fund Mangers, who may want to 'sell' or 'buy' --at a random particular moment of time -will want to do when and how mcuh and everything else...- ??

How do they (market timers' )-- actually manage to actually -- 'do that' and know others intentins all the time... .... Tommy ?

-- And do be able to 'predict'-- the mind opf another person-- and the 'decision making process of another person-- --hour to hour-- of hundreds of other 'actors' in the 'game'-- wow.... and also; to do this 'consistently' all the time ....

Is this how folks try to 'time' the market-- or some such ??[?]

Hmmmmm .... do not think I could ever get to that sorta..... 'forward forecasting' --- Capability ....or Level of 'time the market' Ability-- :( :(

Can you actually 'do' that 'market timing' Tommy.... ? wow.... [8D]

Compared to those sort of guys, I must be a bit of a novice... and a bit of a stock market idiot!!--

I mean all I can do; is pretty bland and basic.

Tommy,all I really know.... and only, a very little bit about... is .... simply .... to keep analyzing and keep looking at the facts which make up the Actual Business Operation..... and its competitive advantage .....and the Actual Business Operation's ability to make growing future consistent higher than Industry standard ‘margin on their profits’....

Tommy, that is really all I know….. a very small amount about.... :(:([:I]

Oh well, it will just have .... 'to do' ... for now !!

Kindest Regards,

Robbo :)

tommy
11-10-2006, 05:21 PM
Hi robbo,

As for "timing" the market, I try to pick up some shares BEFORE the next leg by just looking at the charts, depth, etc. but actually I am absolutely hopeless[:o)]

I think I am a better investor than a trader in that sense, its easier to make money assuming a timeframe of 6 months or more than a timeline of a week or two[xx(]

I personally prefer undervalued illiquid tech stocks the most because the only way is up when there is price movement:)

Have you checked out RFG today? It's flying!

robbo
11-10-2006, 05:26 PM
ite/RFG.

Tommy....

Come on mate !!

How can I possibly.......keep an eye on the bloody share price of RFG and ite....[}:)][:0]

When me and Maxie are busy trying to clear enough Bloody Room.....in the Shed at the back of The PUB, ......

..... >>> For all those cold Crownies..........

...>>> that you and Ohyme 'bloody well'-- now owe me !! ;)[:p] [8D][8D]

Kindest Regards,

Robbo:)[:p][:p]

robbo
12-10-2006, 11:35 AM
it&e (ITE)

Well, well, well ... derrrrrr...

That silly Broker has AGAIN-- decided to play his silly games AGAIN -- and placed 750, 000 'pseudo' shares --IN the Depth on the Sell side-- deep down and out of range, at 20 and 21 cents respectively ---.... ;)

What a wan*&*%#@ker.... [}:)][8D]

Might he just have ....some more buyers ....he is 'trying' to get 'set' and entry for.

Kind Regards,

Robbo :)

robbo
12-10-2006, 12:27 PM
it&e (ITE)

Looks now like -- once these 'T +3 traders' --- ( WHY-- oh why-- [?]--do they do that silly stiff -- yawn.... ;):)--)-- at 16c and 16.5 cents are polished off, and 'cleaned up; - we will be sailing to that first Target point of 19/5-22 cents range....

Still on schedule imo.

Kindest Regards,

Robbo ...:)

OneUp
12-10-2006, 12:40 PM
quote:Originally posted by OneUp


What kind of profit do you think they can manage this year?

They are currently profitable - but $100k in NPAT is hardly very impressive. And it looks like they were breakeven in the second half of 06. So what of 2007? Management comments not especially bullish or revealing looking forward.

Don't hold and don't understand why ITE are on the rise - except the AIM listing.

[B)]



quote:Originally posted by davidrob
I reckon that it&e will do a NPAT of between $3.5 - $4.5 millions for the half. (4.5 months tiem apprix)-- -- Based on extrapolating the same Revenue Increases pro rat from LAST annual reports.

However this is conservative.


Company announcement today:

Company may not be profitable for the half!

Don't care who their clients are if they can't turn a profit. Long sales cycles. Timing issues...just an excuse.

The investment case for IT&E just fell to bits.

ohmyme
12-10-2006, 01:06 PM
OneUp you bring up an interesting question. Do we really need management to spell out profit forecasts in black and white? I actually like that management arent making outlandish bullish forecasts. I think they are laying the building blocks for a battle galatic spaceship. Credibility is the key.

Scalability is evident through the pricing structure of previous contracts (see previous posts). ITE managed to reverse an $8million defecit from the previous year. They managed to reduce costs and still grow revenues by over 50%. They are building a pipeline of annuity style revenues from a whos who of blue chip financial organisations across the globe.

Once a company signs up for ITE's products its very difficult to change. There is so much evidence in the public domain that reflects on the quality of ITE's products, one such example is the fact that Comsec has recently surfaced as a client (Hmmm I wonder why? Something to do with CBA being a client as well maybe?).

This is an "inbetween the lines story", but it seems so bleeding obvious to me (especially when someone like Robbo holds your hand through it) :) I know of a lot of astute and very successful investors who wont touch ITE until they see black and white results, good luck to them, however by then there may not be any value left.

cheers and good luck with any decisions you make, based on your past picks OneUp I dont think you will have any problems.

robbo
12-10-2006, 01:08 PM
it&e (ITE)

Excellent question One Up....

Its all about; what is the "The Break Even" point, imo, for it&e...(ITE)... ??..

And here One Up, is the .... 'Very Good News' ... right now...:)

With a company like it&e (ITE) --once you go past that: 'break even point' -- most of the remainder excess revenue and annuity sales growth-- over and above that low capex figure-- falls straight to the profitable Bottom Line ... ..:)[:p]

Why so?

Due to the Low Cap Ex in a company like it&e -- it is all Knowledge Capital and so due to the High Scalability; the Profits are very lucrative, sutainable and fat.

And the reason for all this share price increase (although it is still very EARLY days yet fortunately for us !!--imo--is they know they have finally "woken up" to the past FACT --that they are past that point ....

Which Company did also know and UNDERSTAND this-- imo, is UXC --whose management are VERY close to it&e and ....that is ...why..... Geoff Lord (UXC's CEO) increased his holding of ITE to: 12.67 % of the paid up capital of it&e-- (see ASX announcment on both ite and UXC site-- on 3/7/06--

Also do go and see f UXC--CEO-- Geoff Lord's comments and his clearly laid out reasoningfor this significant up grade and purchase of ite shares ).

Okay then, let us get down to tin tacks.

... The numbers.

I reckon that it&e will do a NPAT of between $3.5 - $4.5 millions for the half. (4.5 months tiem apprix)-- -- Based on extrapolating the same Revenue Increases pro rat from LAST annual reports.

However this is conservative.

Now it it&e are rated like Bravura (BVA) then the market cap flies to the moon.

But if they are only rated at say 24-27 PE, then pro rata and annualized, the NPAT becomes about $6.7 to $8 millions in 11 months time.

However, imo only... you must remember One Up, which "space" --and JUST who their (ITE) Clients actually are-- and the annuiity revenue relatinships they have with them, and the fact that what they Provide is CORE ....and not just Peripheral optional IT Risk Mgt Systems --

And therefore is at the VERY heart ..... of what matters to them (Banks)-- (ie: what matters to the:-- Global Banks, Regional Banks, Stock Exchanges & various global-- USA,New Zealand, Australian,European, and even Scandanavian (Denmark)-- -- and that is ... presently and currently-- larger Financial Institutions, who ARE now already it&e's (ITE) Current core Clinets)-- )-- ----namely --what is importatn to them...??-- Control, Management and Supervison of RISK -- when you consider & calculate that actual -- likely -- :)future forward rated PE figure... !! ;):)-- One Up.... ;)

So One Up; imo only, if you took even the lower figure -- pro rata... of even 5.5 millions NPAT--and that is a bit too low imo-- and PE'd it at say 21--and see my comments above re. PE.....

Then you stil have 'only'-- a 'market cap' of: $115 Millions, for it&e (ITE) .....

So Here is the Preent Value Opportunity imo One Up:

*** ]Today it&e is a market cap of still only--- under $30 millions.[:p]:)

Do you See the potential 'Intrinsic Value -- re (ITE) now', One Up ..?? [?]

And that of course One Up, is only the 'scratch on the scratch '--only the very very....current beginning .....of where this revenue and net profit flow for (

robbo
12-10-2006, 02:05 PM
it&e

Yep major, that is absolutely correct mate...

I have NO idea at all....

Regards,

robbo :)




quote:Originally posted by major

So basically, Robbo, you have no idea?

Can you please explain how the PE ratio can influence the NPAT figures- as your following comment states?-

"Now it it&e are rated like Bravura (BVA) then the market cap flies to the moon.

But if they are only rated at say 24-27 PE, then pro rata and annualized, the NPAT becomes about $6.7 to $8 millions in 11 months time."

tommy
12-10-2006, 04:32 PM
ITE hits 17c, up 9% [:0] When is it gonna take a breather[?]

tommy
12-10-2006, 06:18 PM
Closed at 16.5 c, not bad on impressive volumes... time for a breather soon or is this gonna continue rising?

robbo
13-10-2006, 11:14 AM
ITE (ITE)

Hi Tommy and also hi, to all other it&e (ITE) followers;

(and Donnie will also come back on that other thingo...)--

In my view guys, and based on the evidential facts; ...

There is now an even stronger ... case that it&e (ITE) will actually... imo...'sail all the way'--- to about 55--65 cents range...... over the next 5 weeks to max of about 2 months--.:)

For those who find this a bit challenging, I ask you to go back to my Senetas (SEN) thread--and my INdependent Practioner Network; IPN thread--on this forum-- when they were at the equivalent of when it&e (ITE) was a Market cap of around $-15 millions.

it&e is now only 33 millions market cap.

Now from 20/8/04 until less than only 3 months later -- at 19/11/04--Senetas(SEN) went from -- 5.7 cents when I first flagged it and had bought heavilly into Senetas ... -- to approx 43 cents and settled back to 35 -37 cents range... 35-37 cents was a at the time around about a market cap of: $149 millions for Senetas --at only 33 cents.

So for Investors (like me)--who HELD for that 3 months--they obviously made between approx 600% and 675 % range--.. and could have made more (doubled again)-- as Senetas(SEN) doubled again ....over the next 9 or so months....

At this time-- (OCtober 2004) .... when I was assessing, researching and analyzing the qualities of the business which Senetas (SEN) was in:

Namely:

--Unique and Highly scalable strong Competitive Advantage --MUST HAVE TECHNOLOGY --- by large Defence organizations-- -- ie: Software encryption technology--


I must admit; I was roundly mocked, ridiucled and a avalanche of sceptiticsm flowed in -- on this very forum .... [8D]:)--
about my share price predictions ..... for Senetas. (SEN)

And this continued; and continued and continued.....

No MATTER -- how much I resolutely--- 'stuck to the logic' ......of the rational facts and 'rational case' of the actual (SEN) Business and how the market would value the Business.....

Please go back to the Senetas forum; to see this truthfully in detail for yourselves.

-- Next step.

Ind Practioner Network.(IPN)

I was roundly condemned for suggesting that IPN had huge prospects --

At only 3 cents less than two years ago --when the Market Cap was only approx 32 million (sound familiar...?? [?]- ;))-- and I suggested that Investors would see a multi bagger.

Today IPN is approx 22-24 cents range and IPN investors have made again about 650 --700%.

On this forum however; people screamed out to take profits with IPN-- at 6 cents, and said I was just.... 'a total idiot' --a Motley's Fool if you like ...[:o)];)[8D]..

Again in the arnea of New Technology -- I suggested people buy HWW Media (HWW) --and agina was ridiculed.

Within about nine months (HWW) had trippled in price.....

Finally; there is the case of another 'internet' based Stock --where I started a small thread-- .....you may .....or may not have heard of this share... ... ;)

It was called-- Emitch (EMI).

Again; the Emitch (EMI) thread is again on this very forum ....:)

I suggested people consider to invest in Emitch (EMI) at around 7-8 cents ....and again at 11 cents ....and again at 22 cents (when Emitch (EMI) -- was around the $30 million market cap-- mark) sound familair again-- ;)-- and Guess What..??

YEp, again.... I was roundly criticsed, with an avalanche of skepticism and ----"yeah right Robbo"-- [b]Emitch worth more than 40 cents-- !! </b

donnie
13-10-2006, 12:04 PM
Dont worry about the critism david we all do it because we love your comments:D[:X](group hug):D

LOL;)

robbo
13-10-2006, 12:16 PM
HI Donnie,-- :D

ITE it&e

......(2 posts before this one) .....is a run down of how I see it&e (ITE) -- unfolding over next week or two and beyond....

.... do Feeel ... sooo ....much beter now donnie...!! [8D];)

Especially after a HUG from your gorgeous self Donnie-- -- [:X][:X]

But as this is not a "chat you up site "-- (LOL) ---- like say -- MY Space-- [:o)][:I]-- then back to boring 'ol shares -- hey what !!

btw on that score Donnie; --with Tooday-- as a spec; a nice little 'ol semi- arbitrage play-- -- 'quickie-- trade '-- & possibly a goodie -- but just also 'watch out'--- that the 'Steinpress Boys & Co"-- do not "SPIKE" -- you .... if you know what I mean .... ;)

Kindest Regards,

robbbo:)

donnie
13-10-2006, 12:36 PM
Thanks for the advice dave[8D].

What are your thoughts about AUZ Australian Mines they've only got some small nickel plots. do you reckon they might be a goer.;)[8D]

robbo
13-10-2006, 12:39 PM
Yep, know AUZ mines a bit....


errrr..... 'What thread'---here at S/T-- do you suggest--??-- ; and want me to arrange my thoughts on such concepts --on--??

btw, did you also get onto it&e (ITE) ...Donnie...??

Regards,

Robbo :)

donnie
13-10-2006, 12:48 PM
no didnt have any spare money to buy any ite, im to busy paying a house off.:(

start your own tread for AUZ if you like.[8D]

robbo
13-10-2006, 01:00 PM
ITE (ITE)

Hi Tommy and also hi, to all other it&e (ITE) followers;

(and Donnie will also come back on that other thingo...)--

In my view guys, and based on the evidential facts; ...

There is now an even stronger ... case that it&e (ITE) will actually... imo...'sail all the way'--- to about 55--65 cents range...... over the next 5 weeks to max of about 2 months--.:)

For those who find this a bit challenging, I ask you to go back to my Senetas (SEN) thread--and my INdependent Practioner Network; IPN thread--on this forum-- when they were at the equivalent of when it&e (ITE) was a Market cap of around $-15 millions.

it&e is now only 33 millions market cap.

Now from 20/8/04 until less than only 3 months later -- at 19/11/04--Senetas(SEN) went from -- 5.7 cents when I first flagged it and had bought heavilly into Senetas ... -- to approx 43 cents and settled back to 35 -37 cents range... 35-37 cents was a at the time around about a market cap of: $149 millions for Senetas --at only 33 cents.

So for Investors (like me)--who HELD for that 3 months--they obviously made between approx 600% and 675 % range--.. and could have made more (doubled again)-- as Senetas(SEN) doubled again ....over the next 9 or so months....

At this time-- (OCtober 2004) .... when I was assessing, researching and analyzing the qualities of the business which Senetas (SEN) was in:

Namely:

--Unique and Highly scalable strong Competitive Advantage --MUST HAVE TECHNOLOGY --- by large Defence organizations-- -- ie: Software encryption technology--


I must admit; I was roundly mocked, ridiucled and a avalanche of sceptiticsm flowed in -- on this very forum .... [8D]:)--
about my share price predictions ..... for Senetas. (SEN)

And this continued; and continued and continued.....

No MATTER -- how much I resolutely--- 'stuck to the logic' ......of the rational facts and 'rational case' of the actual (SEN) Business and how the market would value the Business.....

Please go back to the Senetas forum; to see this truthfully in detail for yourselves.

-- Next step.

Ind Practioner Network.(IPN)

I was roundly condemned for suggesting that IPN had huge prospects --

At only 3 cents less than two years ago --when the Market Cap was only approx 32 million (sound familiar...?? [?]- ;))-- and I suggested that Investors would see a multi bagger.

Today IPN is approx 22-24 cents range and IPN investors have made again about 650 --700%.

On this forum however; people screamed out to take profits with IPN-- at 6 cents, and said I was just.... 'a total idiot' --a Motley's Fool if you like ...[:o)];)[8D]..

Again in the arnea of New Technology -- I suggested people buy HWW Media (HWW) --and agina was ridiculed.

Within about nine months (HWW) had trippled in price.....

Finally; there is the case of another 'internet' based Stock --where I started a small thread-- .....you may .....or may not have heard of this share... ... ;)

It was called-- Emitch (EMI).

Again; the Emitch (EMI) thread is again on this very forum ....:)

I suggested people consider to invest in Emitch (EMI) at around 7-8 cents ....and again at 11 cents ....and again at 22 cents (when Emitch (EMI) -- was around the $30 million market cap-- mark) sound familair again-- ;)-- and Guess What..??

YEp, again.... I was roundly criticsed, with an avalanche of skepticism and ----"yeah right Robbo"-- [b]Emitch worth more than 40 cents-- !! </b

robbo
13-10-2006, 02:15 PM
it&e (ITE)

Promised I would have posted an analysis of why this share(ITE) is worth significantly more than current low share price-- by about lunch time--.

And that is correct.

Time now is about 12.15 pm (Austn Easern Standard). Hope to have it posted in 1 & 1/4 hours time.

Kindest Regards,

Robbo :)

edison
13-10-2006, 02:34 PM
Hi Robbo,

Thank you for your posts ...... U are always welcome here in Sharetrader. I actually bought ITE late (at 14c) but still appreciated with your detailed analysis of each company and have the courage to face the ridicule of other posters .....

Keep up with your good work, you are doing investors (and Australia) a great service :)


donnie:
As for AUZ yes it could be a 3-bagger ...... It is only 24Million in cap and is already profitable producing Nickel with highly probable extension to their Blair mine. It is one of the last nickel producers to have a run whereas every other Nickel producers (IGO, MRE, JBM, etc) already have their runs and is at a high premium. Very high volume traded today. Another one to look at is MBN.

tommy
13-10-2006, 03:16 PM
Yo Robbo,

I am still waiting for a "breather" to top up more ITE stocks but this baby just keeps on flying like a bullet!

Don't you think they deserve a speeding ticket? I want the price to come down so I can buy more[}:)]

robbo
13-10-2006, 03:55 PM
it&e (ITE)

Unmatcheable Internationally; -- by a long stretch:

...... Accuracy and Speed --

..... is ..... The Reason for it&e's suddenly the "word gets out" -- re why, imo, .... this is ....

A very rare and special Investment Grade -- Quality Company.

There are a number of key business drivers; which are creating the current ever increasing Demand .... and will continue to create Demand….

It will be untenable for one Bank to have Razor’s (1) Accuracy, (2) Speed, (3) Configurability, and (4) robustness; and for another to not have it …..

Why so?

Because the other 15 Banks have assessed RAZOR against the competition—and completely re built their Risk Architecture around RAZOR.

This will give them a massive “time” advantage and “accuracy” “advantage” …..

It is like one Bank; .....&gt;&gt;&gt;

....&gt;&gt;&gt;&gt; having at the heart of its Risk Management IT infrastructure—

... &gt;&gt;&gt; A-- :-- “: World Class Leading V8 High Tech Highly Efficient engine….

That is Both, ....Capable of both a devastating sprint AND winning consitent marathons-- accuracy, speed AND staying power… taht is designed such — that every drop of ‘fuel’ –( ie: every piece of critical 'real time' derivative and trading credit risk numerical data )-- that is being constantly re-calibrated and calculated with ground breaking efficiency and accuracy.

The sort of Very .....rare situation..... a Company comes out with a Solution whihc is: where Pure Design and Capability – meets Purereliable and unmatcheable Performance.

That is the wonder of RAZOR—™.

And most of the Big banks are now getting to 'discover' that.

For the mathematically highly numerate people who head up the Banks's “ Engine-- back room” in the derivatives and risk management section of a Financial Institution like a Bank — this is Pure Gold. ... It is like going from a 'cut throat 19th century "Razor" to a 21st Century High Tech triple Blade Gillette latet and greatest Razor. Like from being used to drving a Model T Ford ....to a BMW M3.

When they ‘trial’ Razor (TM) — they sort of say: yep—...

its NOW ---- mojo time:— [8D][8D][:p]

.... “let’s rock & roll”…. .

And say its costs ..... $10 million or so.... for a Bank every year—errrrr.... this is not.... a large transaction for them.

It is simply (in the context of what they are get from a Return on Investment)-- – just not a large number….

For peoples whose primary job is to: make money and control risk—in all of combinations and permutations—using Monte Carlo simulations and modeling—the cost is incidental to their core Need and want.

For people with a strong analytical frame of mind—this is a total ‘no brainer’., and mission critical to Risk Management strategy.

In Banking guys, it is all about:

(1) Utilizing available credit lines with maximum efficiency.
Ie: Financial Institutions aim to maximize their return on available risk capital. One key component is to ensure that available credit lines are being utilized as profitably as possible. In many cases, organizations turn away profitable trading opportunities because of insufficient credit line availability.

This is most common within traded portfolios, where legacy credit calculation techniques fail to account for economic offsetting effects within derivative portfolios. Credit exposure for structured products or credit derivatives is often overstated as the credit exposure cannot be calculated accurately so overly conservative approaches are taken which increase the reported credit exposure. Razor’s simulation methodology accurately calculates credit exposure for traded products which can result in credit exp

OneUp
13-10-2006, 04:15 PM
G'dday Robbo,
have IT&E lost any tenders recently to your knowledge? i.e. how many banks rejected Razor? (this is a question that only ITE management may know the answer to!)

Dipped my toes in the water yesterday.

tommy
13-10-2006, 04:19 PM
quote:Originally posted by absolut-advance

Question for you Robbo and other followers of ITE and ISS

In your opinion if you had available funds

To either

use the money to top up ISS at 19c via SPP

or buy more ITE at 18c

as im struggling with the decision

thanx in advance

Disc: Hold both but larger holding is Iss

cheers

AA


Wow AA, you're in exactly the same boat as me!

Only difference is... I'm topping up both [}:)]

robbo
13-10-2006, 04:32 PM
Hi One UP,

If I knew that--then I would be "an insider" One UP !!
quote:

However see my post a few days ago--re the ASX reference I did-- and what they said--and how many Tenderers it&e competed with.

Also-- do hear -- that ite have a "lot"-- and I mean a significant NUMBER--- of genuinely-- NOW-- and ready to 'pop'-- in the pipeline large and significant deals " -- and by that; hear 'on grapevine'-- that this is ..... at the very very end of the PIPE LINE -- and here is the Juicy bit-- this sentence applies equally to North America--Canada and the USA---

And to Europe and to the United Kingdom....

And looking at the size of the Buy orders this last week for ITE stock-- I would maybe guess-- ;);) -- that just maybe--some Larger Investors-- and people who usually only buy in $25K and $55K and higher amounts per Buy Orders of it&e Stock-- all day-- errrr...maybe they ... errrr.... just maybe....they.... also feel there just might..... be some biggish orders not far away... to be seen.... ;)

Then again; maybe the sustained Large Buy Orders-- and sustained Volume--and refusal of the share price to retreat -- is maybe ...

:just sheer random coincidence.... :)--"....

Kindest Regards,

robbo :)



Originally posted by OneUp

G'dday Robbo,
have IT&E lost any tenders recently to your knowledge? i.e. how many banks rejected Razor? (this is a question that only ITE management may know the answer to!)

Dipped my toes in the water yesterday.

tommy
13-10-2006, 04:36 PM
quote:Originally posted by absolut-advance

lucky you , i must choose one from the two,

?????

help?


AA

I got a bucketful of ISS already so topping up ITE.

Problem is that none of us actually are specialists of this kind of software, so we don't know the real nature of the competition, we can only guess (but robbo's doing a great job filling the knowledge vaccum, cheers mate!)

For example, what about Fujitsu (I think they supply Tokyo Stock Exchange, second largest stock exchange in the world... serious competition I would assume.
http://www.fujitsu.com/global/services/software/interstage/solutions/riskmanagement/financial_services.html)

Is RAZOR supplied to Chicago Mercantile Exchange or is it another ITE product?

Yet, I love the potential of ITE, see much more upside than downside at this price level.

robbo
13-10-2006, 04:48 PM
it&e

HI Tomy,

Using logic that the ASX as a STOCK Exchange is utilizing the RAZOR Product-- then imagine that is also what Chicago Exchange is utilizng as well.

But that is only using that logic, as although it&e declare Chicago Exchange as a valued client, there is no formal announcement (on ASX which I can see--at any rate)-- of which (ITE) product suite they are using. !!

Kindest Regards,

Robbo :)

robbo
13-10-2006, 04:52 PM
it & e (ITE)

Hi AA,

yeah AA, would agree with you--as next week could see ite doing another easy 30-40% as the Bigger Money is now definitely--imo-- swinging behind it--

And I reckon .... that --- iss--- is now looking (coz of the Placement primarilly--and a few other issues)-- like a 'November story'-- at least that is ....from where I sit...--but that of course is only -- my opinion !!

Kindest Regards,

Robbo :)

robbo
13-10-2006, 05:40 PM
it&e (ITE)

Yep... indeed.

What I also, really do.... like ... in a detached way-- with ITE is the Volume of Evidence.....

It is, from; imo, a 'mathematical probability'-- point of view-- very very solid....imo...

In fact it is frankly amazing....

Think about, and calculate the probabilities... just for a minute.

15 -20 Global Banks and Major Financial Institutions -- change their entire Core Risk IT -- Infrastructure --

( Why ?? [?]_ -- To reduce their Credit Risk -- sort of rather important issue uh --??-- !!)

-- To go with ite (ITE) having considered say --at least... 20 other IT Proposals .... and then.... having then; deliberated .....

...... for at least 6-12 months--BEFORE coming to such a central decision-- from each of the 20 Banks and Insurers and Large Stock Exchanges....--choosing from at least 20 Tenders in.... EACH CASE .....

Got It ... :);)[?]???

And these SEPERATE independent rational detached Buyer Decisions ..... were actualy made in about 7 different discrete Major Nations.... at Head Office...--...with different Cultures..--...assessing on diferent criteria.... and up against Home Country Opposition -- in the case of Germany, United Kingdom and USA and Scandanavia....

And in the case of ANZ-- up against Sun-Microsystems...

Sun-Microsystems/Unix lost...

And guess what.??[?]

Instead.... They chose it&e....!!---[^]:D

Think about the probabilites associated with that.....

Just do the calculus ....

Makes you really smile imo.....:)

KIndest Regards,

Robbo :)

sharehap
13-10-2006, 06:27 PM
Hi, Robbo

Enjoy reading your posts. Thanks a lot for your effort. I feel I can learn a lot about stocks from your detailed analysis.

In ITE and intend to hold for a while, though it's very tempting to take profit now.


Have a great weekend.

Flying Goat
14-10-2006, 01:17 PM
quote:Originally posted by absolut-advance

cheers Robbo have sold down my ISS holding and have loaded into ITE just before market closeing just in the nick of time.
Will take up my full SPP allowance in ISS, but my main holding now is ITE, will move back into ISS at a later date.

cheers

AA
[quote]Originally posted by davidrob

it & e (ITE)

Hi AA,

yeah AA, would agree with you--as next week could see ite doing another easy 30-40% as the Bigger Money is now definitely--imo-- swinging behind it--

And I reckon .... that --- iss--- is now looking (coz of the Placement primarilly--and a few other issues)-- like a 'November story'-- at least that is ....from where I sit...--but that of course is only -- my opinion !!

Kindest Regards,

Robbo :)



Hey AA, Robbo and other followers of this very exciting thread and mulling the ITE vs ISS questions.

Just sitting going through the recently released annual reports for both companies, and comparing side by side, if you like.

This has lead to me to a few questions for you guys who clearly have aa much better understanding of these two comanies than myself.

A lot has been discussed about the upside for ITE, and i agree it is very compelling on the depth of it, so instead of paraphrasing all the strong points that have been well covered (and thanks for that) I am playing the role of devils avacado before jumping in both feet...!


Question 1) Not quite sure how the it was agreed that the limit of the agrregate amount payable to ITE's two non-executive directors was set at $1,150,000 at a time when the company still have not managed to contain enough expenses to break even.

In comparison, ISS who achieved an NPAT of $1.48 million set the non-executive director aggregate remuneration at just $200,000 which seems a lot more prudent in context.

To add some more context, larger companies (e.g. CHH pre Graeme Hart takeover) capitalised at $3 billion earning NPAT in the 000's of millions typically non-exec directors aggregate of closer $250,000..!

This may not affect the quality of the underlying investment, but I guess my question is, can anyone think of a reasonable explanation for this? Sorry to be a stick in the mud, but this topic often grated me as I was never that keen on having MY shareholder money OVER spent on players who are not spending much time on the field ie 12 meetings pa

Question 2) Does anyone have a detailed understanding between the fixed and variable cost structure with ITE?

Clearly it is true that with further PRODUCT SALES as well as license / annuity style revenues the majority of revenue growth hits the bottom line - great, could not think of a better position to be in. PRODUCT SALES currently represent 45% or $6.9 million of revenue, how far can we project that number to 2007, 2008 and 2009... is this key?

However... while SERVICES actually currently make up 55% of revenue or $8.47 million I feel that the this is where the cost containment is and may continue to be a bit of a problem, leads me to....

Question 3a) My assumption (i may be completely wrong, hence the question) based on other IT sector busines models in the is that a large part of the service side involves a lot of contractors / consultants who are paid high salaries, this revenue goes through the profit and loss so helps to improve revenue figures but do ITE take a margin on these third parties or is this money simply passed straight through?

Question 3b) My other assumption is most of this SERVICE revenue is also variable, as a result of contractors / consultants t aid with the implementation phase of the products. Based on assumption in 3a) ie that the

robbo
14-10-2006, 01:30 PM
it&e (ITE)

Hi Share-Hap,

Glad you have been getting some 'semi-useful' minor benefits; here at ST, Share -Hap .....[^]:)

When I was shampooing my hair in the Shower this moring Share hap....

.... Was thinking aloud; about some of ...the very issues, which you raise....

So then Share-Hap -- The more I think about what I would prefer to focus on nowadays; and in future; in forums like this; the more I desire to resolve .....to want to:-- "keep it real" -- ...

That means, I guess, those few, rare and unique situations…. Where we uncover… imo…. stocks like it&e... and less stocks like (MTN).

And therefore; to "steer clear" -- of speculative 'hyped'-- 'spiky stocks' -- but rather, instead... to continue to research and report on Stocks that are evidencing strong Genuine growth in Earnings -- (ie: real historical profits, real increasing Sales, Real increasing substantial new Contracts and and renewal of existing Contracts).

To find under-valued compaies with real Clients, with Repeat and repeatable regular Sales ....based on scalability; Real present Revenue Growth, Real Future Long Term likelihood of Growth in Present and Growth in the immediate future sales, and….. ditto growth in the verifiable present and immediate future net premium margin profits....

So .... to focus nowadays; only on those 'rare and unique situations'; where we can locate, and ascertain…. at least on my own assessemnt; Real Growth -- based Stocks -- that are also; again, only, in my assessment, realistically ..... which are Also.... genuinely very very Under -- Valued.

And it&e(ITE) is, imo such a Stock.... :)

Now Share-hap—let me also say this—

There is a time, imo… to Sell any Stock. (No matter how Good is the underlying business ).

Repeat: There is a time, imo… to Sell any Stock. (No matter how Good is the underlying business ).

But, imo, with it&e(ITE) , now is not that time....

So then... Robbo.... in your view, when is that time …...to sell, a stock... ??[?][?]

When the market, views a stock too optimsitically; and becomes un-realistic in the forecast of discounted future earnings—

and sunsequently over prices the sahre price. That is when.

No more.

No less.

. ....&gt;&gt;&gt;&gt; Or another way to phrase it;

When the ‘margin of safety’ is no longer, rationally in evidence.

You may notice that on many occasions; I have suggested, that now MAY indeed, be the time..... to consider to SELL a Stock ......

Which previously I very, very much.... had enthused about; and intrinsically liked … ( as a business)....

— And also still, as a business-- still like — but the Share Price is not longer justifiable, and is ridiculously optimistic.

Three (3) quick real examples.

(1) Emitch (EMI)

When Emitch(EMI) was north of $1.00—and the price to Earnings(PE) was PE: of 68—72 range — I said this is now too expensive.

Now let me tell you; I still LOVE that business.(Emitch)-- (EMI)

But it would have to be, imo, a “Google’ style global business 'franchise' — to justify that sort of massively High Price Earnings (PE) …imo…

And I said so.... :)

(2) Senetas (SEN) --

(a) When (SEN) directors started to:-- imo--- ‘Over-Promise’ and….‘ under deliver’ …..and this behaviour became repeated

robbo
14-10-2006, 02:18 PM
it&e (ITE)

Hi Flying Goat,(FG)

Excellent post.

And "yes" --Definitely--Do please keep 'playing the Devil's Avocado'-- or 'Devil's Advocate' or , 'Devil's Whatever'...[^]:)

It is VERY important to question the 'assumptions' and test them against the evidence.... And I welcome this Flying Goat .

Flying Goat, Firstly I like ISS and it&e equally.

I suspect that AA was trying to 'time' the market-- and that if it was me -- Well I not not HOW to time markets-- so I always simply 'split 'em' ...... straight down the middle-- equally.

My only response yo AA, (who was presumably looking for some of the it&e current 'action'--)-- was that ISS is perhaps looking now more like a November story -- but again:-- as intrinsic investments:

I like ISS and it&e (ITE) equally.-- and for different reasons.

Although they are both 'software sector"--- They have very different 'economic forces' driving their respective agendas and destinies, imo..... !!

Re: Your querries F.G. re the annuity versus the service contract versus the licence fee fixed income --and how much of the contractor fees are 'expensed' into the P&L....--am going over that now.....

Will come back on that.... by Monday arvo latest...??--

Secondly, will speak to the it&e(ITE) Financial Contrtoller--as we get on quite well--and get his take on it...although will then interpret that and not accept it at face value.

Thirdly-- the it&e operating expenses are coming down --year to year-- and the balance sheet is looking progressively stronger (albeit VERY early days)-- but agina--let me come back to you v.soon.

Fourthly; re: Your it7E (ITE) Directors compensation comments...

I will answer this comprehenisively--coz this did pique my curiosity-- but before I do-- let me ask a ---indirectly--- related question:

What do you think Flying Goat,--??-- caused the it&e (ITE) Share Price-- on the sutained Increase in Volumes ---in the past month to Increase So Rapidly ?[?]

-- And for the market toso quickly and decidely.... to begin to re-rate it&e (ITE) -- to go from 7.4 cents to 18 cents ..... ?? [?]

Promise then will come back to the director compensation querry-- and not to necessarilly 'just' defend it; either.

Again FG. thanks again for playing ze Devil's Avocado/Advocate'

Helps to 'Keep it Real',which IS very good.... [^]:)

Kindest Regards,

Robbo :)






quote:Originally posted by Flying Goat

[quote]quote:Originally posted by absolut-advance

cheers Robbo have sold down my ISS holding and have loaded into ITE just before market closeing just in the nick of time.
Will take up my full SPP allowance in ISS, but my main holding now is ITE, will move back into ISS at a later date.

cheers

AA
[quote]Originally posted by davidrob

it & e (ITE)

Hi AA,

yeah AA, would agree with you--as next week could see ite doing another easy 30-40% as the Bigger Money is now definitely--imo-- swinging behind it--

And I reckon .... that --- iss--- is now looking (coz of the Placement primarilly--and a few other issues)-- like a 'November story'-- at least that is ....from where I sit...--but that of course is only -- my opinion !!

Kindest Regards,

Robbo :)



Hey AA, Robbo and other followers of this very exciting thread and mulling the ITE vs ISS questions.

Just sitting going through the recently

Flying Goat
15-10-2006, 09:57 AM
Thanks for the encouragement Robbo, and for looking into my questions.

In response to your question about why I think the ITE has done a double in the last couple of weeks - well, perhaps it is a rhetorical question, becuase YOU my friend are certainly a much more knowledgable soul than myself to anwser that one, and actually you kind of have answered it in earlier posts...! Never the less, I will have a go though, in my simple, goat-like way, but feel free to tell me that I am way off the mark..!

[8] At 8 cents, this company was clearly RIDICULOUSLY undervalued, the type of stocks many of us here at sharetrader love, fortunately for those who bought already, YOU pointed this out at the perfect time!

[8] The second driver might be (uncannily simialr to ISS circumstance) that the MAJORITY of ITE's impressive revenue to balance date 2006 is coming out of Australia, yet many of the costs incurred and new contracts signed have been involved with major offshore offices/deals.
This imo is where the megalith potntial lies with both ISS and ITE to crudely simplify in goat terms: a)Years spent developing product, "building moat" as yourself or mr B would say b)Product now up and running. commercialized and adopted by HUGE profile Australian companies c) Now lets take to product to the world and start knocking on the doors of HUGE OFFSHORE companies. It is very uncanny that both ITE and ISS are at step c) and already have ink drying on the paper of the new contracts...!! This might prompt one to double-back-down-negative-reversal question of: [?] The market new about this a little while ago, why did they not act then? [?] Simple, when SP languishes and meanders aimlessly for long eneough, from a psychological perspective people expect it to continue doing the same. They wait for the break out (like say David HArdman in this forum tends to do) and then they pounce, I guess some breakout materialise quicker than others but as YOU say Robbo, you never can know when the market will wake up to the reality so you're better off making your own judgements of value and happily gathering hem up while the SP is in the doldrums... then become a :D happy man, liek sharehap,, eh sharehap!!



[8] Now, thirdly, less likely but still a possibility that cannot yet be ruled out: Based on the background of latest addition to the exec team, I cannot buck off the sneaking suspicion that someone might be buying someone, be ITE the hunter or the prey i this billygoat knows not, but "corporate acitivity" (as the numpties in the papers call it) - always seems to draw generate acitivity.

[8] Fourthly and probably most obviously, being on AIM should be great , give profile and access to new money, big money - give savvy investors over there in the land of warm crownies and cold pies something to look at and reference against other similar stocks that are listed there... more reference points from which its true value will be able to be established...

[8] Five - yes, there seems to be institutional buying alright and perhaps some of the big bankers (pronounced with w, not b) - although I must confess I would not have picked this up without reading about it in this forum as my time spent understanding the dynamics of the MARKETS has been second place to my effort in understanding the BUSINESSes, but i respect and appreciate that you guys are so insightful in this area, quite educational....!


Robbo, et al. I am thinking of getting in if SP takes a breather, do you think there will be buying below 18 cents from here on in or has the rocket up ITE's bVm been firmly ignited? Thoughts...?!

Anyway, have to run and take Mrs FG out so have a great weekend all.

Cheers
FG

sharehap
15-10-2006, 02:14 PM
Hi, F.G,


I would like to know the answer to your last question too. :)

To Robbo

I certainly get some useful benefits here at ST – the proof is in my position in ITE. Happy Happy , very Happy.

I am intrigued by the timeframe you gave re SP. (like ISS, 3 bagger in three months?).

Let me try to differ in regards to the timeframe of the market to realize the value. By doing this , I hope to learn.

Since the first post of this thread, the SP of ITE has doubled. But I suspect the business of ITE is just as usual, which means that its business value has probably not doubled. So the market could just say: OK that’s enough. Show me you deserve the doubling in price and I’ll come back in six months or a year and see what happens? And depend on my mood, I may give you a P/E of 10 or I may give you a P/E of 100. But no promise.

Personally, I am happy to hold both ITE and ISS. As you have convinced me, ITE is probably worth more and is not a sell now. But I would not have expectation that ITE would be a 2 or three bagger in, say, 3-6 month. (Well, if it happens, great for us all :):)) .

Thanks to you and other posters, I am also in ISS now and will take my full entitlement of SPP. Again, I would say it’s not necessary that ISS will be a “November story”. On the ohter hand, it doesn’t really matter to me when the market will like the ISS story, as long as it doesn’t take Mr Market too long to truly fall in love with the story.

robbo
15-10-2006, 02:34 PM
it&e-- (ITE)

Okay then Flying Goat--

Will Keep it nice and Brutally Simple.

And will quickly.... now---- "cut to the 'chase".... with a easy pointer and simple juicy Clue; as to-- in ny own assessment; -- just WHAT exactly and Where exactly... is the:-- it&e Share Market support deriving now from....??

imo.... There is now some very Significant .... global Economic forces, and Flows.... of Significant Investor interest, and Fund -- Money --$$$$ -- -- attracted to -- it&e (ITE)
...

... So actually F.G; --in my assessment; this... is now coming from; a clearly identifiable source... in strong support of it&e ITE)..... ...?? [?]

Can you work it out yet ... F.G....??

ie: --&gt;&gt;-- Where the Smart Investor Money cometh from ??--

-- Clue --imo-- and ALSO-- can you 'See and Connect'-- ??-- some of the related emerging clear facts which are tangible -- ..

ie: What will actually have, imo, real Value Adding High Impact -- series of Related Reasons -- .... for (ITE) Share Price 're rate' and why ITE will continue to be, imo, upwardly re- rated .... ?!

: Hint: These new Clear facts; have not -- NOT ---yet in the slightest; been alluded to... on this thread on ite before-- 'At All'... --So am not re-hashing old info --here .. ....

ie: This intel is totally New and Fresh.

...&gt;&gt;&gt;..... And to suggest Flying Goat; .... As to why I assess -- NOW -- and hypothesize now -- why now ..... the:-- "Very Smart Money" -- is running hard ... and now is almost dashing rather swiftly -- to try to 'get set' -- in a clear effort -- to manage to 'jump onto' the (it&e)(ITE) -- Band Wagon --..
with the clear mandate, imo.. and clear purpose -- To maximize their potential capital Gains Profits -- And to maximize their holdings in this (ITE) gem. imo-- to maximize their leverage.... which is why the support is coming for (ITE) it&e.....

Fortunately Flying Goat -- (whew)--- so far, and only so far-- no one at ALL ....from Hot Copper.... has read one of my (ITE) posts ...so far ....on this S.T.--(ITE) thread ....

..... Anyway..... as I was mentioning.... some of the:....

Oh No !! ... gulp....

WAIT ...! Watch Out... [:0] Mr Postman [:0][:0]

.... The British are Coming, The British are Coming, The British are Coming.....

... hey there.... Slow down Mr. Postman ... ...

..... &gt;&gt;&gt;--- "The British are Coming" --

And the Brit fund managers; who imo are--among those-- with the 'in the know fundie money'--- is starting--imo-- to now..... errr... .... how can I say-- to now begin to :-- 'Connect the Dots'....

-- And the pace is quick.

Lightning Quick .... as it were ......[8D][8D]

...yep, ...&gt;&gt;... Very quick. ...

How Quick Robbo...???

Let me describe it Flying Goat as quicker than a 'goat flying at Mach speed... [:o)][:o)][:I]"-- and as quick as a

:--- Mercedes Benz Kompressor

robbo
16-10-2006, 10:49 AM
it&e (ITE)

Very impressive AA, very very impresive ! [^][^][8D]

Okay; then gals and guys; AA has started the 'ball rolling'-- but although very impresive--was offon a bit of a tangent--although a good one..... errrr.... so no Mars Bar.....at this stage anyway...


So then; how good are you at 'joining the dots'-- and cutting and pasting the Joint Development Project ...

--with Mclaren F1... /Mercedes Benz---??

Here is the first step--

Note that Greg Meekings was appointed .....as the new it&e ITE London based Director-- on 7 August -- of this year--

Note that Greg Meekings ... is also-- the Independent Chairman of Reuteurs Pension Fund and was the Chief Information Officer of Reuteurs Europe...

And jsut as impressively -- Greg Meekings is the Chairman now of SmithBayes....

So here is the:

"The British are Coming, The British are coming"----- 'cruncher'--...

Who is the Company in London [?]--called-- SmithBayes[?][?]--who have a v.interesting website-- [?];);)

..... And why is this important, right NOW--[?] &gt;&gt; imo--

for it&e, and significant for the immediate outlook now .....for the it&e share price ? [?]

Kindest Regards,

Robbo :)

senor guacamole
16-10-2006, 11:21 AM
from the v. interesting website....

SmithBayes is a joint venture with McLaren, the Formula 1 racing team, and has taken the sophisticated decision technology used to underpin race strategy and applied it to the corporate market.

Our focus is to deliver software that is easy to use and visually appealing.

Our driving principle is that strategic decisions are complicated and inherently uncertain. This uncertainty can come from changes in the market, technology, or the actions of competitors or regulators. The decisions are often significant bets in terms of investment or competitive position – yet they still have to be made.

Our vision is to give our clients a professional platform that will enable them to consistently make the very best strategic decisions and ensure that they remain the optimal choice over time.

sophisticated decisionmaking software company, eh?. sounds like a sweet fit with ITE, are you in fact implying some kind of takeover from a cashed up smithbayes given the greg meekings recent appointment?

robbo
16-10-2006, 11:25 AM
it&e (ITE)

Hi gals and guys,


Okay -- since it is creeping...just a little closer to the ASX 'open'-- thought I might put part of the 'answer' to my puzzle-- here on S.T.

Remember:

Greg Meekings is now; the Chairman of Smith Bayes and is now the London based director; of it&e (ITE) as of 2.5 months ago--- ....

Look at the previous post to this; and then check out the Smith Bayes Web Site-- and soon 'penny might drop'--.. :):)


From Time Magazine .Sunday, Oct. 01, 2006

......... 'Rapid Response'


McLaren and its partner, British software company SmithBayes Ltd., are this week launching a business version of the team's "decision-engine" software.

What can business learn from auto racing? Split-second decision making, says a British tech firm

McLaren and its partner, British software company SmithBayes Ltd., are this week launching a business version of the team's "decision-engine" software. They believe that many companies, across a number of sectors, compete in environments not too dissimilar from F1 racing: countless variables and constant volatility. "Businesses make a lot of strategic decisions that involve uncertainties this software can track," says Simon Williams, ceo of SmithBayes.

When a safety car appears in Formula One (F1) racing, it generally means there is some kind of hazard or debris on the track. Drivers must temporarily slow down, and F1 crews typically use the opportunity to bring their cars in for a pit stop. But when a safety car rolled out in the 25th lap of last year's Monaco


Grand Prix, Team McLaren Mercedes made the counterintuitive decision to keep driver Kimi Raikkonen on the track. The ploy worked; Raikkonen won. But the decision wasn't made at trackside. It came from team leaders based at the McLaren Technology Centre in leafy Woking, south of London, who were using prediction software they've developed to help them make split-second tactical decisions in a sport where speed is king.

All F1 teams have their own versions of software that analyze thousands of variables — from weather and road conditions to fuel levels and competitors' likely actions — and how they may interact to affect a car's performance, before and during a race. The program spits out possible options, and assesses their chances of success. Now that racetrack technology is coming to the equally fast-paced world of business.

McLaren and its partner, British software company SmithBayes Ltd., are this week launching a business version of the team's "decision-engine" software. They believe that many companies, across a number of sectors, compete in environments not too dissimilar from F1 racing: countless variables and constant volatility. "Businesses make a lot of strategic decisions that involve uncertainties this software can track," says Simon Williams, ceo of SmithBayes.

The software's potential corporate uses are wide ranging. Companies can use it to measure the risks and rewards of moving into new markets, bringing out new products, or making capital investments. Myriad data and assumptions can be plugged in: possible new technologies, changes in government regulations, what rivals may do. The one constant most businesses can count on is churn. "If you know something to be true, it's already history," Williams says. A recent McKinsey & Company online survey and study found most executives are unhappy with their company's strategic planning. But it also found that corporate strategies often fail because managers are loath to admit they were wrong and make midcourse changes. Prediction software, Williams argues, makes it easier for executives to "accept uncertainty and move on."

It also helps co

robbo
16-10-2006, 12:11 PM
it&e (ITE)

And here comes-- 'The Fund Money'--- now as predicted and thought.....

...&gt;&gt; The British are Coming... the British are Coming....:)

Check out those 'Buy' orders in size...

Kindest Regards,

Robbo :)

robbo
16-10-2006, 12:48 PM
it&e (ITE)

Have something significant to convey--re (ITE)--

re: Reuters....

but not really..... sure .....whether the .... 'interest" ....is out there ....here at ST-- yet on this company...(ITE)... ??[?][?]

So; if there is any decent level interest to know this intel; --errrr..let me know--and I will put it down -- by noon... [?]..

Or alternatively will wack it down tonight--- after a few cold cleansing crownies, down.... at The PUB this arvo...

Kindest Regards,

Robbo:)

ONTHENOSE
16-10-2006, 01:13 PM
Robbo,

There is pleanty of interest i assure you.... :-)

robbo
16-10-2006, 01:43 PM
(ITE) -- it& e.

As a preamble for what I will discuss at Lunch Time-- (but it is in the SYNTHESISING of this; imo, -- where 'one of the keys'-- to unlock and discern where this intrinsic Value comes from--)-- more soon-- this article, for now-- from Reuters News Wires... ....--again, only recent article-- from earlier this month.(October. 2006.).

Before you read it below; imo-- *** Remember guys; .....

(1) Greg Meekings (current ITE it&e --Director); .....
is the ..... Current Chairman of the Reuters Pensions/Superannuation Funds (x2) in London -- which curently has over 8500 Super Fund Members, and over $1.65 AUD $$ Billion Dollars .... Funds under Management.

Until v.recently, Meekings was also the CIO of Reuters, with 2700 staff reporting through to him.

(2)

Mclaren Applied F1 (Formula 1 Technologies) -- (Jointly also Owned by Mercedes Benz Global)-- which this October--2006 'Reuters' - article discusses ....

-- Is a current Joint Venture (JV) with SmithBayes-- of whom it&e (ITE) London based Director, Greg Meekings is also SmithBayes, Current Chairman.... ;):)

-- errrr.... does now... the.... "Penny Starts to Drop?"-- [?]....

*** PS. Remember, imo, do not be; 'sucked in' --by Broker manipluation of the (ITE) "DEPTH" as (ITE) share price heads past 20 cents.

*** My next Share Price Target for it&e (ITE)is at least now 37-38--43 cents--conservative-- -- and will tell you why within 24 hours-- firm time line....and firm factual evidence based reasonings ....

What helps allay any of my fears/concerns -- apart from what is now happening in Europe-- is even the Australian current Clients of it&e (ITE)-- which is jsut plain cold FACT and; to repeat include :


The Commonwealth Bank (CBA), Westpac Bank (WBC), National Bank (NAB), ANZ Bank (ANZ) ,a Large undisclosed Australian regional Bank, Suncorp Bank, Australaian Stock Exchange (ASX) ,and --- HSBC --in Hong Kong China and Australia.

And what it&e provide these multinational Bank & Exchange Clients is absolutely CORE.

It is Not --imo-- periphery.

And it&e is almost impossible, imo, to replicate.

So here then guys; is the article from Reuters:

Mon Oct 2, 2006 2:37pm ET -- Reuters World Service.

'F1's McLaren to pit technology wits in boardrooms.'

By Marc Jones

LONDON (Reuters) -

It may be a long way from the glamour of Monaco, Monza or Magny-Cours, but Formula One team McLaren is gearing up to sell its race strategy software in company boardrooms.


One of McLaren's commercial spin offs, McLaren Applied Technologies, in a joint venture with British start-up firm SmithBayes, has designed a system based on its F1 analytics technology which it hopes

robbo
16-10-2006, 02:12 PM
it&e (ITE )--

*** [/b]PS. Remember also guys,just a friendly reminder-- ;)[8D]- imo, do not be; 'sucked in' -- by the Broker manipluation of the (ITE) "DEPTH" as (ITE) share price heads past 20 cents.

*** My next Share Price Target for it&e (ITE)is at least now 37-38--43 cents--conservative-- -- and will tell you why within 24 hours-- firm time line....and firm factual evidence based reasonings ....

What helps allay any of my fears/concerns -- apart from what is now happening in Europe-- is even the Australian current Clients of it&e (ITE)-- which is jsut plain cold FACT and; to repeat include :


The Commonwealth Bank (CBA), Westpac Bank (WBC), National Bank (NAB), ANZ Bank (ANZ) ,a Large undisclosed Australian regional Bank, Suncorp Bank, Australaian Stock Exchange (ASX) ,and --- HSBC --in Hong Kong China and Australia.

And what it&e provide these multinational Bank & Exchange Clients is absolutely CORE.

It is Not --imo-- periphery.

And it&e is almost impossible, imo, &gt;&gt; to replicate..... [:p]

(1) Greg Meekings (current ITE it&e --Director); .....
is the ..... Current Chairman of the Reuters Pensions/Superannuation Funds (x2) in London -- which curently has over 8500 Super Fund Members, and over $1.65 AUD $$ Billion Dollars .... Funds under Management.

Until v.recently, Meekings was also the CIO of Reuters, with 2700 staff reporting through to him.

(2)

Mclaren Applied F1 (Formula 1 Technologies) -- (Jointly also Owned by Mercedes Benz Global)-- which this October--2006 'Reuters' - article discusses ....

-- Is a current Joint Venture (JV) with SmithBayes-- of whom it&e (ITE) London based Director, Greg Meekings is also SmithBayes, Current Chairman.... ;):)

-- errrr.... does now... the.... "Penny Starts to Drop?" -- [?].... ###---

So here then guys; is now the article from Reuters:

Mon Oct 2, 2006 2:37pm ET -- Reuters World Service.

'F1's McLaren to pit technology wits in boardrooms.'

By Marc Jones

LONDON (Reuters) -

It may be a long way from the glamour of Monaco, Monza or Magny-Cours, but Formula One team McLaren is gearing up to sell its race strategy software in company boardrooms.


One of McLaren's commercial spin offs, McLaren Applied Technologies, in a joint venture with British start-up firm SmithBayes, has designed a system based on its F1 analytics technology which it hopes will help steer company executives and managers toward making strategic decisions.

Before, during and after races, Formula One teams plug in and stream vast amounts of test and real-time data into highly complex modeling software which, on average, analyses 8 million pos

robbo
16-10-2006, 02:23 PM
(ITE) it&e.

Status of Bottom Line (as I see it ... ):

From all the Clues in last Post... (And see also my Share Price Target Prediction; in that last post)....

(1) Do you reckon it&e (ITE) will get the London Stock Exchange Listing in the next few weeks. ??[?] :)

(2) Do you think they will Attraction to Invest in it&e (ITE)-- and get the strong institutional commercial support from the Finance Sector; in.... 'the CITY' -- in London--?? [?]

ie: from the London based, and European based Fund Managers..... who will want to coniser strongly, imo-- to now Invest in (ITE) it&e.... Especially considering just WHO are ITE's Blue Chip current and prospective Clients now ARE; and when one considers; just what ITE actually do and Provide-- and who are the it&e Common Directors with 'powerful friends' in London-- .....And where 'they' operate --and from exactly what epi-centres -- in Europe ... ?? [?]

(3) How much of a global 'market darling' is it&e likey to be ...?? [?]

(4) Will(ITE) be likely to now get even more European Banks as Clients [?]

(5) Will the Paereto Effect start to 'kick in now' ?[?]

(6) Will (ITE) be likely to get excellent Media Coverage on the BBC World Service, Reuters, and Time Magazine and The Times and the Financial Times, -- in the forthcoming 2 - 5 weeks; etc etc etc...[?]

(7) What sort of leverage does a common Senior Director and Chairman; -- from .... McLaren Technologies/Mercedes Benz//Smith Bayes..... and Reuteurs (Global)- London; give it&e (ITE) ... now.. ?[?]

errrr..... Maybe the above; in the light of previous recent info on recent posts; is some interesting 'Food for Thought' ..... ;) :)

Kindest Regards,

Robbo :)

PS. also.... will analyze my (ITE) Share Price Projection (from my last previous post )-- in More detail -- in next 24 hours....

Regards,

Robbo :)

DISCLAIMER

Views expressed in this email and/or internet correspondences, are my tentative thoughts and opinions only. These views are not to be read as being, or forming…. any form of a recommendation; of any sort whatsoever. Rather, they just simply personal opinions, and are NOT financial advice. Furthermore, these views are unwarranted and ought not to be read, as other than personal opinion and speculations, and are not warranted in any way whatsoever, either expressed or implied, for their accuracy, veracity, or likely predictive outcome. Furthermore, these comments are highly subjective and prejudiced by the writers own opinions and outlook. Therefore these views may be prone to errors, as they have not been checked by a third party, and are possibly incomplete and/or inaccurate. The opinions expressed here; are strictly on a “Without Prejudice” basis only. These personal subjective thoughts herein expressed, are only one view among many, and at best; are only the author’s whimsical thoughts, impressions, and intuitions. Obviously, as with all opinions, they are open to discussion and refutation, as well as consideration of other interpretations and review. For any investment decision, always do your own separate investigations and research, and always seek your own qualified and authorized third party independent financial advice.

Kindest Regards,

Robbo :)

ONTHENOSE
16-10-2006, 03:09 PM
Robbo,

Could you please explain the significance of listing on the AIM??

And most importantl for those who dont know (like myself) how a listing on another exchange effects our market??
Is this called a dual listing????

Thanks

Mike

robbo
16-10-2006, 03:49 PM
it&e (ITE) --

Hi Mike,

Subject: Significance, or Otherwise ....of AIM Listing .. -- (London) - ....

Had a few emails on this very question too.....

As with many questions of this type; the answer is, "it all depends".

In other words, it is a CONTEXTUAL thing -- ie: What is/are, the circumstances ... and CONTEXT...; of the AIM lisiting...?? [?]

So what is said now;is only my view, and.... is specific to this stock (ITE) -- as AIM listings on any stock, imo, would have to be considered.... 'on its own merits' -- And, in relation to the effect.... or otherwise...... of a AIM lisiting .....

In ite&'s case... my assessment and views are as follows:

(1) It will somwhat; imo, depend Who does the it&e(ITE) Underwrite and 'sponsors' the Lisitng and who they bring in as Initial Investors--onto the London --AIM-- bourse.

And knowing who it&e(ITE) are dealing with now; and also the Ernest & Young (Tier One Chartered Global Accountants)-- connection, and .... the Smitch Bayes Connection, and the UXC connection here in Australia--- and the ASX CLIENT reltaionship and the connections that will have-- then I am rather confident this will be for (ITE):

(a) A Reputed larger Broker

(b) Well Supported in the IPO for (AIM) by institutional money.

(c) Will add to Liquidity and Media exposure....

(2) And now the 'dominoes' from this willl begin to fall--it sounds better if Reteurs or the Financial Times make an announcment in Europe and/or London--and say that, for example: "

An announcement along the lines of: "ITE, a Sydney ASX listed Company which is also dual lisited on London's AIM-- today signed up a 5 year relationship with Rothschilds or Deutsce Bank or whoever..and they are now lloking forward to all the benfits of the Razor/Monarque, PTX, it&e Product... etc, etc, etc, etc, etc... "

(3) Would not at all suprise me to see subsequently after AIM-- a more 'formal'--[?][?]-- 'alliance' with Smith Bayes -- again much easier to 'sell' to Smith Bayes/Mercedes Benz/Mc Laren-- stakeholders when listed in London as well.....--and again this will greatly assist the development and rollout in the second largest Economy in the world--namely Germany.....

(4) Securing new Euro Banks; as (ITE) corporate on going Clients; vis a vis Basel II--will be made easier by having the London listing--due to the asssurance it will give the constituents -- namely the Euro and English Banks and Insurers etc....

(5) Obviously it will also attract more European and English Institutional Investor interest and access more Euro Money -- Which said Investors; who can now invest via a Local Excahange in London (AIM) ----than in another Time Zone/Hemisphere.... and through another Exchange - -the ASX ....

(6) My other feeling is that the AIM listing will only be a stepping stone--to getting listed thereafter (12-15 months--??_ onto the Main Board, namely-- the London Stock Enchange itself. That is definitely the stated (see --ITE -Report) it&e (ITE) formal strategy here. ....

(7) It would also be a 'coup' (and again more likely, imo, )-- for it&e to get the London Stock Exchange as a clirnt--remeber they already have the ASX, Canada Stock Exchange and Chicago Exchage in the USA .....

(8) (ITE) operates -- in a very very--- "GLOBALIZED space--namely in as a prmier and unique Software Provider-- to Financial Markets-- who need to monitor risks associated with derivatives, Hedge Funds, Currency Exchange and general Trading Desks...

So, In it&e's case-- this Global Factor Imperative --makes it very significant for it&e----- to be taken, even more seriously, in London and Europe-- --as London is one of the Key Financial global HUBS; in the world and the Northern Hemisphere--......

Do Hope Mike; that this, adds maybe just 'a

tommy
16-10-2006, 03:56 PM
Mmm, massive volume again today, serious action going on here or what[:p]

I agree London AIM listing will be a good stepping stone for ITE in European market, simply to get more exposure...

Still surprised there is no speeding ticket issued by ASX.

Flying Goat
16-10-2006, 07:22 PM
quote:Originally posted by tommy

Mmm, massive volume again today, serious action going on here or what[:p]

I agree London AIM listing will be a good stepping stone for ITE in European market, simply to get more exposure...

Still surprised there is no speeding ticket issued by ASX.


indeed... did you guys and girls know that approx 1.23% of the company changed hands today...!! no liquidity problems for this small cap!!! must admit it is an exciting one, strap yourselves in sharetraders...
from the other end of the coin, for every buyer, someone is also selling, or does the market manipulation theory involve fundies just rotating stock in an effort to keep trading within a range...?

Cheers
Flying Goat

tommy
17-10-2006, 12:33 AM
What would technical analysts say about the chart of ITE at the moment?

http://asx.netquote.com.au/charts.asp?code=ite&x=0&y=0

Blue sky? Gap needs filling? Needs a breather?

I have no idea what will happen to ITE's share price in the coming few weeks without an announcement... trading has been crazy since last week and totally beyond my understanding for such a small cap company!

gjc
17-10-2006, 04:05 AM
I can't comment on what the chartists and analysts would say about ITE's recent performance, but all I can say is WOW! Once the games stop, and the big money gets set and ITE start formally announcing their future plans, I think the chartists and analysts will be looking for new phrases to describe ITE's performance!!

I would also like to say a big thank you to Robbo for bringing ITE (and many others) to the attention of the ST forum. Robbo, as always your uncanny insight and analysis delivered in such a good natured fashion is as entertaining as it is educational. I am amazed at how prolific and profitble your posts are, and just hope that you can maintain the energy and enthusiasm to keep the posts and intel coming.

Thanks again mate, I'm set on ITE and set early thanks to you, and will follow its progress over the coming weeks/months with great interest for what should be a very, very interesting ride!

Regards, GJC.

robbo
17-10-2006, 11:15 AM
It&e (ITE).

Good Morning to you all …… :)

……….to FG, AA, gjc, One Up, Ohyme, Share-hap, Senor Guacamole, On The Nose, …… and all others watching it&e (ITE) …..:)

AA, Definitely, imo, you are ‘spot on’ with your views regards the brokers suppressing the Depth—and putting the ‘illusion of the ‘sells’ at 20 cents.... [}:)];)[}:)]

Here is the easiest part of the evidence…...

On my ‘screen’— like I am sure some of you also have—is a: “Depth Detail’ tool….

....And here is the fact of it….

As soon as we have 19.5 cents on the ‘buy’ side’ and 20 cents on the ‘sell side’— ....or ....even if it is 19 cents on the ‘buy’, and 19.5c .... on the ‘sell’ — but the sells are thinning out—the ‘order’ of the 20 cents sells suddenly changes-- ..[}:)];)

ie: -- If there are say eight (8)..... 20 cent-- ‘sell' orders in the ‘depth’—then the first 4-5 will be for a nominal amount of 20 cents share ‘sell orders—which is probably mostly ‘inter-broker’ secret share swap anyway-- —and the larger …… 200,000, and 275, 000 and then a token 100, 000 and then a 400, 000 'block of ILLUSION sell shares' ---suddenly--- and coincidentally-- [}:)];)- falls quickly down, again; ---suddenly--- and coincidentally-- [}:)];) -- to the Bottom of that DEPTh Sell Side-- ‘take up’ list… and… if it thins too much—-- & the closer one gets to to the ‘buy’ –suddenly-- ....'lo and behold' --The Depth-- of 'sells'-- 'magically'-- disappears …. ...[:0][}:)];)

So why are they doing this....??? [?]

.... Cyncial greed..... I guess .....[:0]

Co-incidental of course... as well; ;)-- That There was as.... a clear emperical fact Yesterday-- -- The best part of 500,000--(1/2 a Millions dollars)-- Invested yesterday (MONDAY)-- in (ITE) yesterday--on double the already record (ITE) Volumes--with a lot of larger chunk Buyers... Geeee .... Funny that..!!

-- Wonder why, errrr... that was ...?? [?]

### -- errrrr.....On a slightly more serious note: ther are 'other' little tricks in the 'broker' bags of naughty and 'nasty' [}:)][8][}:)]'tricks' -- to try to achieve the same outcome -- transferring the (ITE) wealth from the 'worry wart smaller holders' to the instos ...

.... Will detail these 'tricks' in more detail soon.....

Especially this stuff is more critical now; with the now tight time line for (ITE) we are on b/w now and end of November. ... [:p]:)

These brokers are trying to ‘vacuum up’ (on behalf of thier 'commerical and larger Investors'-- the possible available and lurable-- (ITE) shares …and lure …. from the ‘mums and dads’ ……who perhaps cannot really get to, ‘ the heart’-- of what is the ‘intrinsic value’ that resides now in it&e… (ITE)— which by the way—imo is WORTH NOW-- a conservative minimum of 45 cents….

Repeat:

imo--it&e(ITE) is now worth,imo, a conservative: 45 Cents ...


Repeat, imo, that the bare conservative Minimum ……share price to even ‘consider’-- selling ……it&e (ITE) in my view, is -- 45 cents—…..which would put it&e(ITE) on a Market Cap of: about 91 or so millions Market Capitalization…( $ 91M—Market Cap-- # 45 cents )-- . (un diluted).

Strategically (for those fortunate (ITE present Investors, imo)-- also…....it all gets, imo, much more ..... interesting indeed.......(over these next few weeks)--

Much, much More interesting.... now .....;)[8D]

[b]
And

robbo
17-10-2006, 12:31 PM
it& e (ITE)


So Brokers are now playing -- 'go quiet games'-- for a an hour or three ...[|)] --yawn..

How Quaint ....

Regards,

Robbo :)

sharehap
17-10-2006, 12:38 PM
OK, Robbo. I'll just do that --- sit back, enjoy and relax.
:)

ohmyme
17-10-2006, 12:49 PM
Wow very impressive run in ITE, even nicer considering that I spent the past 4 days away from the screen surfing in Byron Bay :)

Some nice research being flung around this thread now. Keep up the good work guys, its nice when more people get involved in the research.

cheers.

BSA
17-10-2006, 01:08 PM
quote:Originally posted by BSA

Recent price action has been up into an old consolidation zone from 2005 so been having a pause soaking up the sellers from this region,...the next res level to beat is around 18c(lets say 20c for roundism)


Well 19.5c is near enough:)
Happy to see it consolidate its gains below 20c for a time a pull back to 16c ish perhaps.
Apart from broker scenario Robbo, many traders are sitting on tidy gains and looking to lock in profits around this region.
A breather is a healthy thing(he who still holds).

Cheers

robbo
17-10-2006, 01:25 PM
(ITE)

Good post BSA,yeah fair enough BSA--

Guess that 150% in 3.5 weeks-- was okay...

Do not expect to see much lower than 17 cents though....

And the traders versus the investors need to dotheirthingo....

Will wack up my valuation appraisal shortly BSA....

Kindest Regards,

Robbo

robbo
17-10-2006, 02:26 PM
it&e (ITE)

Okay gang,

My thoughts; re it&e’s (ITE) Valuation; are multi-dimensional —

And primarily; they 'Boil Down'---- to where it&e(ITE) -- are up to now; Globally—....

(1) In their internal ‘Time in the Sales Cycle ‘ (over a 5 year programme—[they are in the 5th year…]--

— .... And, to the:

(2) Application of “Critical Mass Principles”.

In the post after this, will try to elaborate on ‘critical mass’ issues —b ut in quick thumb nail version for in the it& e Case, is in the Answer to this question:

Already in Europe , ITE have won the following European Banks and clients:

• HSBC • KBC • LLBW • Post Bank • Bear Sterns and • Fortis Bank.

Now what clients (in Europe) are going to be harder or easier for it&e (ITE) to win...???

The next new Clients in Europe......

SALES STAGE: (A) -- with Numbers:-- 7, 8, 9, 10 and 11....... (Banks and Financial European Corporations....??? )-- ??--

or.....--????

SALES STAGE: (B)

for the (ITE) potential New Sales numbers..... Numbers ..... 12, 13, 14, 15, 16, through to say new established Client numbers 33, 34, 35, ... through to 43 ... say.... ???

And would, ---??-- SALES STAGE A -- be easier or harder, for it&e (ITE)-- in Europe .....if they had no clinet now at all in Europe ??

Or because; they (ITE) already have,.... as Client Proven reference Sites:--the following:

• HSBC • KBC • LLBW • Post Bank • Bear Sterns and • Fortis Bank.--as Clients in Europe..... ???

What you come up with, in answer to the 'above'-- well, This is the answer to the 'critical mass' principles.....

We also know that it&e (ITE) have released these listed major Clients from around the Globe: lsited below:--

Commonwealth Bank (CBA),

National Australia Bank (NAB),

Westpac (WBC),

HSBC (Hong Kong Bank) ,

Fortis,

Bankers Trust,

Bears Stern Bank (USA) ,

Macquarie Bank,

Chicago Mercantile Exchange (Worlds largest Commodity Stock Exchange),

SunCorp,

KBC Bank (Europe--Belgium),

Zivnostekska--Gernmany & Swizerland)--Bank,

Brown Bros Harriman Bank in UK and USA,

Penison France --Insurance, Superannuation and Banking,

Post Bank Germany/Europe,

BT Financial Group --United Kingdom,

Australian Stock Exchange (ASX),

ANZ Bank,

and other Banks, and financial Institutions who have requested confidentiality--see it@e recent ASX announcements.....)....

**** ...#### ---&gt;&gt;&gt;-- Now let us 'Devils Advocate' -- just-- for a minute ---

Maybe,..... All of these above Global Corporations--- namely….....

-- == Commonwealth Bank (CBA), National Australia Bank (NAB), Westpac (WBC), HSBC (Hong Kong Bank), Fortis, Bankers Trust, Bears Stern Bank (USA) , Macquarie Bank, Chicago Mercantile Exchange (Worlds largest Commodity Stock Exchange), Suncorp, KBC Bank (Europe--Belgium), Zivnostekska--Germany & Switzerland)--Bank, Brown Bros Harriman Bank in UK and USA, Penison France --Insurance, Superannuation and Banking, Post Bank Germany/Europe, BT Financial Group --United Kingdom, Australian Stock Exchange (ASX), and the ANZ Bank... and on top of that the number of Financial Instos whom have confidentiality contracts with..... it&e ITE. .....


---- All Either:---

(1) Acted impulsively and installed, it&e’s (1) Core Risk Profiling –and algorithmic Software—to drive the day to day Trading Decisions of their Operations – on a whim….... ???

(2) “Coincidentally …. And ironically”-- all agreed that--- it&e (ITE)-- was the Best Loing term solution for this Core IT infrastructure Software…... ??

(3) That the Hong Kong, German, Swiss, Danish, British, Canadian, and American Clients—would have preferred to go with a small hitherto unknown Australian Software Supplier— for their most Mission Critical core needs, rather than a large well known Sun Micro Systems—because it was Australian—and because American Banks and Large Stock Exchange

Snow Leopard
17-10-2006, 06:18 PM
17c -2c. You guys need to be selling the story a little harder [}:)]

regards
Paper Tiger

Snow Leopard
17-10-2006, 07:10 PM
quote:Originally posted by absolut-advance

The Doji Star yesterday clearly showed the resistance and pointed to todays outcome, did note the playful lower volumes today, tomorrow will be interesting, fundamentally very very strong as Robbo points out.


AA


Doji Star, used to read it everyday when I was in India. :D

Just be aware that I might be treating this thread as a substitute for the NZO thread.

I wish you all well
Paper Tiger

WASL
17-10-2006, 10:18 PM
Hi All,

I admit to being a part of the buy volume on 16/10.

I cannot get away from the quality of the client (and potential client)base that this company is addressing. This to me, plus the quality of the products, is my main driver.

This seems to be a day-trader stock by accident - it's really a look-at-fundamentals; hold-your breath; hang-in-there, type of prospect.

Good luck as always


WASL

robbo
18-10-2006, 11:42 AM
it&e (ITE)


imo, let her consolidate....for a few days.... 4 - 5 days tops--??--

So....just (as usual)-- 'a little Patience'...

Regards,

Robbo:)

robbo
18-10-2006, 01:56 PM
it&e (ITE)

Made small -- ammedment to that last (ITE) post today-- -- imo only-- about 2-3 more days now of side-ways .... share price sprad in the 16.5-17.5c-- range approx... ??-- at, imo, 'tops' time frame ....;)

-- &gt;&gt;&gt;-- .... Why so, and how do you figure that .... Robbo ....??

(1) Just noticed that ANZ Broking (E-Trade) etc etc... had recently put it&e on their Margin Lending (CFDL list of approved shares-- so explains the overhang-- ......

And --IMO-- the quasi--unofficial "market making" -- and Buy/Sell spread-- by theSE BROKERS-- ; WITH Ord Minetts--[?]I think it's them--??[?]-- will now only be able-- at least; on my assessment to allow the (ITE) trades at around these sorta levels 16.5--17--17.5 cents SPREAD RANGE-- .....

(2) AGM Report FOR IT&E (ite)-- proably NOW OVER-due, and OUGHT to be out, imo, in about 4 days--


This will have more Detail/ immediate future Guidance etc....etc

(3) AIM London Lisiting for (ITE) probably announced at least.... on my asesment/guestimate-- 3 weeks--??-- before actual (ITE) Listing starts to actually trade in London-- (which.... ought to be Trading in November--) and thier will be the obligatory (ITE)-- "Research Report" ----and with the obligatory 'build up' and promotion of (ITE) by the London Brokers before-had etc etc etc-- --

so AIM Listing Ageement for (ITE) ought to be announced --guestiamte-- toward end of this month-- ie: October is my guess...

(4) Look ..... also....Now; at the (ITE) 'Sell Side Depth'-- there are no, really .... even half, SERIOUS large sellers-- smart larger money--is in thier for the Medium and Longer haul--...

Having said that; the brokers might now read this--and promptly put some pseudo ones there !! ----.....(just kidding)--....

Do not forget .... the LARGE SIZE (not just the much stronger Sustained Buying volume) ---of those (ITE)larger (ITE) 'buy orders' over the last fortnight-- and especially over these.... last few consecutive days --.....

That was definitely- only imo-- Strong 'sophisticated'; 'Buy and Hold' --- (ITE) Investor Monies-- imo-- and not just smaller trader CFD E--Trade play time money -- again only in ..... imo).....

.... So What do I .... nrmally do now....&gt;&gt;... ??--

... errrr....Easy !!....

..... Have a crownie & Relax, and also .....

Keep going over, and refreshing --"What are the the facts here..."

Theat is; what are the FACTS --- that pertain to this Company (ITE) and its immediate growth prospects..... by re reading all the informataion on this thread.....and on the Company website and on the ASX Website.

.... AND. ....also....

Recalling; not .... realyy.....what Robbo thinks....

..... But instead; ..... recalling something else.... [?]

.....Namely;

Who and What Current Customers......of (ITE)-- think...??--

.....Also......

Which--- Customers-- ie: Which actual Corporations have entrusted-- ... and.... 'Do as well', ....already agree....; that it&e (ITE) have the best --


.... Available .... 'Counter-Trade ...Risk Management Software Tools'--- that are now currently available on the Global Market:

.....for these (ITE)-- Customers which are:

-- == Commonwealth Bank (CBA), National Australia Bank (NAB), Westpac (WBC), HSBC (Hong Kong Bank), Fortis Bank,....

and..... Bankers Trust (B.T.), Bears Stern Bank (USA) ,and Macquarie Bank,....

and....

Chicago Mercantile Exchange (Worlds largest Commodity Stock Exchange), Suncorp, KBC Bank (Europe--Belgium), Zivnostekska Bank--Germany & Switzerland)--Bank,

and...... Brown Bros Harriman Bank in UK and the USA, Penison Bank and Insurance and Funds Mgt in France --Insurance, Superannuation and Banking, Post Bank in Germany/--& Europe, BT Financial Group --United Kingdom, ...and...

the ....Australian Stock Exchange (ASX), and the ANZ Bank in New Zealand and Australia......

and on top of that the number of Financial Instos ...whom have confidentiality contracts with..... it&e (ITE). ..... =====

Who a

djones
18-10-2006, 02:12 PM
Is it still a good time to buy this stock?? At what price is it not a good time to buy in your opinion?

Flying Goat
18-10-2006, 08:29 PM
quote:Originally posted by WASL

Hi All,

I admit to being a part of the buy volume on 16/10.

I cannot get away from the quality of the client (and potential client)base that this company is addressing. This to me, plus the quality of the products, is my main driver.

This seems to be a day-trader stock by accident - it's really a look-at-fundamentals; hold-your breath; hang-in-there, type of prospect.

Good luck as always


WASL


Hi WASL and team...

I also have a confession... Ditto..! Yep, I was a buyer on that day [:I], and also today when she dipped to 16.5 cents :) have been freeing some money from the old faithfuls on the NZX to gather some more ISS in particular, but also get on board ITE in the dips (if we will see more[?], probably[V], but not to phased becuase am in for the long haul :D and see great forward momentum here. Also had a chance to do a bit of

Also see quite phenomenal MOMENTUM and SUPER VALUE one ticker up the ASX board at ISS :D and am looking forward for that stock to begin trading at a greater volume, now here is a crazy idea - perhaps they will be thinking about AIM-ing themselves if liquidity does not pick up to such a rate that the underlying company warrants and deserves?!

Cheers
Flying Goat

PS Keep it coming guys, just love the interaction on this thread!!!

treadcarefully
19-10-2006, 12:45 AM
Hi All,
As this is my first post you'll need to go easy on me.

Great posts on ITE all, very informative and love the read.
I to haved been buying up big on this one at 14c and 17-19c.

This is just a heads up on an article I read in the Australia yesterday and it probably is unrelated to the likes of ISS, IT&E etc however there is enough of a relationship to think that there are companies out there ready to pounce.

Tata group are a billion dollar Indian co that I'd never heard of. However they currently sell systems in the Finance and Banking Industry. This is thier F&B website.

http://www.tcs.com/banking/Business_segments/risk_management.aspx

Big Indian hunts down takeover
Australian I.T
Simon Hayes
OCTOBER 17, 2006
INDIAN software giant Tata Consultancy Services is shopping in Australia again.
The company's chief executive has confirmed that it is negotiating to make a "significant" local acquisition.

Barely a year after snapping up Melbourne financial software firm FNS for $US26 million ($34.6 million), TCS -- part of India's biggest company, the Tata Group - is close to another announcement.

TCS is one of India's largest offshoring companies, logging a profit of 60 billion rupees ($1.75 billion) on revenue of R132.4 billion last year.

"We are looking at another acquisition in Australia that is still in negotiations, which for commercial reasons I cannot name," TCS chief executive Subramaniam Ramadorai said in an exclusive interview with The Australian.

"It is significant and it will complement our current operation here."
The acquisition would be the third big Australian buy by an Indian major, after Infosys got in first, paying $31 million for Melbourne development company Expert Information Systems in 2003.
Expert now forms the bulk of Infosys's Australian presence.
Its founder, Gary Ebeyan, is now the local head of Infosys.
TCS's local operations are smaller than those of its two key Indian rivals - Infosys and Satyam Computer Services - with the company employing 250 staff in Australia, of which 45 are local residents.

Worldwide, TCS has 72,000 staff, of whom 7000 are not Indians.

"TCS has a healthy appetite for acquisitions across the globe but they must make business sense and provide synergy to our current operations," Mr Ramadorai said.

"We have made a number of very successful acquisitions in many countries, one local example of which is FNS."

TCS is looking at pushing further afield with FNS, which has made big strides in developing markets such as the Indian subcontinent, Asia and the Middle East, but is little-known in North America.

TCS anticipates that US banks will consider using FNS's B@NCS core banking system when they get around to replacing their legacy gear.

FNS "is one of the leading core banking providers on the globe and is well-known in many markets in Asia, the Middle East, Europe the Americas and even Africa," Mr Ramadorai said.

"Its footprint is everywhere and it is based here in Australia."


About FNS
Founded in 1982, Financial Network Services Pty Ltd (FNS), acquired by TATA Consultancy Services is a specialist banking software and services company which ranks highly among the world's top suppliers of universal banking solutions.

FNS has enhanced its flagship solution, BANCS, to incorporate universal banking functionality spanning treasury, trade and payments capabilities built on the same advanced technology foundation.

Cheers[:p]:D[8D]

wns
19-10-2006, 03:17 AM
Just had a quick look over their historical financials.

Over the last 4 years...

Revenue has totalled $45.4m...

for a net profit after tax (totalled over the last 4 years) of negative $15.97m.

They've made a loss every year for the last four years.

This "might" be one for the traders, but from a fundamental buy & hold point of view, I wouldn't touch it with a barge pole.

Yes the market cap is "only" $34m but I wouldn't call that cheap or under-valued.

TheBossMan
19-10-2006, 06:52 AM
TCS has a significant sales network in US & Europe and is quite capable of taking any software/systems integration firm globally.

Sourced from Right Hemisphere's website (the one in the limelight re: funding from NZ government, happens to be a partner of TCS):

"Tata Consultancy Services Limited (TCS) is the world-leading information technology consulting, services, and business process outsourcing organization that envisioned and pioneered the adoption of the flexible global business practices that today enable companies to operate more efficiently and produce more value. TCS operates in over 47 countries and 160 offices across the globe."
(Retrieved 19/10 7:50AM--http://www.righthemisphere.com/company/partners/system_integrators.html)

ohmyme
19-10-2006, 11:48 AM
Interesting development here.

As quoted from ASX announcement 03/10/06:

"In conjunction with delivery of strategic objectives on the company, the It&e board nominations committee sees benefit in adding further technology related M&A experience to complement existing skill set. Mr Ralph Pickering through his past experience and current executive roles, presents an excellent fit to this criteria".

cheers.

Flying Goat
19-10-2006, 12:04 PM
More breaking news... to ponder, relevant to ITE:

Chicago merger creates super-market

Thursday October 19, 2006
By Stephen Foley


Chicago's two commodities exchanges are to merge in a US$25 billion ($37.7 billion) deal that will create the world's biggest market for derivatives.

The new super-exchange will trade contracts worth more than US$4 trillion every day.

In the most dramatic example of the consolidation sweeping the world's exchanges, the Chicago Mercantile Exchange is paying US$8 billion for its smaller cross-town sibling, the Chicago Board of Trade.

The pair pioneered financial futures trading in the 1970s, and the explosion in such trading in the past decade - particularly because of the rise of hedge funds - has turned them into international powerhouses.

The merger brings together the CME's expertise in interest rate, equity and foreign exchange derivatives and the CBOT's strength in interest rate futures and commodities.

"This is a landmark agreement for our companies, our industry and the city of Chicago," said CBOT chairman Charlie Carey, who will become vice-chairman of the combined group.

"As a single entity, we will be the world's premier financial marketplace in terms of product breadth, global reach and market capitalisation and ensure that Chicago remains the centre for risk management worldwide."

Both exchanges still operate open trading floors, which will be combined on the CBOT premises.

The CBOT's electronic trading will be switched to the CME's highly successful Globex trading platform.

CME chief executive Craig Donohoe said he believed increasing competition between global exchanges and other inter-bank dealers would prevent regulators from stepping in to block the deal.

"We've been very well advised by the Department of Justice on antitrust issues, and we're not expecting any regulatory issues," he said.

Exchanges around the world are combining, in part to cut costs in response to pressure for lower trading costs.

The New York Stock Exchange has agreed to merge with with Euronext, owner of the Liffe futures exchange, and the London Stock Exchange is being wooed by Nasdaq.

The Chicago exchanges' merger will help them compete with Intercontinental Exchange, which owns Europe's biggest energy market and which agreed last month to buy the New York Board of Trade.

Both exchanges were started in the 19th century. The CME, known as the Merc, opened in 1898 as a trading post for butter and eggs. The CBOT's history dates to 1848 when it began exchanging contracts for future delivery of flour, timothy seed and hay.

CBOT demutualised and floated last year, and soaring trading volumes and excitement over industry consolidation have pushed the shares up from its initial US$54. The takeover price was set at US$151 in CME stock or with a part-cash alternative.

CME shares are at a record high in anticipation of an acquisition that will boost the pool of liquidity and the breadth of derivative products.

Last month was its second busiest month ever, with overall trading up 15 per cent on the year before.

The company has long expressed an interest in consolidation and has flirted with several other exchanges. Recent rumours have linked it to the Intercontinental Exchange and Deutsche Borse.

- INDEPENDENT

Cheers
Flying Goat

robbo
19-10-2006, 12:11 PM
it&e (ITE)...

Hi all, .....

and a special welcome to out new Member, -- 'treadcarefully':):D:)

...&gt;&gt;&gt; Welcome Aboard 'treadcarefully'.!!

Really great to have you here, at S/Trader (ASX Division)-- [^]:)

Agree also with ohyme's last post & note re. the new (ITE) director appointed with the Ralph Pickering connection.....

and his (ITE) Board appointment via UXC-- expressly witht he purpose: ....." to guide through any merger and acquistion" activity in the near future"-- paraphrase; from the last (ITE) report .....

What I felt was significant from treadcarefully's First and excellent post, quoting from The Australian Newspaper; was the following 3 paragraphs -- quoted by, 'treadcarefully'--


"We are looking at another acquisition in Australia that is still in negotiations, which for commercial reasons I cannot name," TCS chief executive Subramaniam Ramadorai said in an exclusive interview with The Australian.

"It is significant and it will complement our current operation here."


"TCS has a healthy appetite for acquisitions across the globe but they must make business sense and provide synergy to our current operations," Mr Ramadorai said.

Also interesting waht treadcatrfully quoted about the BANCS software system vis a vis FNS.. which would be complimentary-- btw; they are not in opposition, or competitionl to the (ITE) 'counterparty credit risk-and 'Monte Carlo simmulation'-- Software Risk offering;)[8D]

Yes indeed.... very.....'Interesting'.....

More soon.

Kindest Regards,

Robbo :)

robbo
19-10-2006, 12:16 PM
quote:Originally posted by Flying Goat

More breaking news... to ponder, relevant to ITE:

Chicago merger creates super-market

Thursday October 19, 2006
By Stephen Foley


Chicago's two commodities exchanges are to merge in a US$25 billion ($37.7 billion) deal that will create the world's biggest market for derivatives.

The new super-exchange will trade contracts worth more than US$4 trillion every day.

In the most dramatic example of the consolidation sweeping the world's exchanges, the Chicago Mercantile Exchange is paying US$8 billion for its smaller cross-town sibling, the Chicago Board of Trade.

The pair pioneered financial futures trading in the 1970s, and the explosion in such trading in the past decade - particularly because of the rise of hedge funds - has turned them into international powerhouses.

The merger brings together the CME's expertise in interest rate, equity and foreign exchange derivatives and the CBOT's strength in interest rate futures and commodities.

"This is a landmark agreement for our companies, our industry and the city of Chicago," said CBOT chairman Charlie Carey, who will become vice-chairman of the combined group.

"As a single entity, we will be the world's premier financial marketplace in terms of product breadth, global reach and market capitalisation and ensure that Chicago remains the centre for risk management worldwide."

Both exchanges still operate open trading floors, which will be combined on the CBOT premises.

The CBOT's electronic trading will be switched to the CME's highly successful Globex trading platform.

CME chief executive Craig Donohoe said he believed increasing competition between global exchanges and other inter-bank dealers would prevent regulators from stepping in to block the deal.

"We've been very well advised by the Department of Justice on antitrust issues, and we're not expecting any regulatory issues," he said.

Exchanges around the world are combining, in part to cut costs in response to pressure for lower trading costs.

The New York Stock Exchange has agreed to merge with with Euronext, owner of the Liffe futures exchange, and the London Stock Exchange is being wooed by Nasdaq.

The Chicago exchanges' merger will help them compete with Intercontinental Exchange, which owns Europe's biggest energy market and which agreed last month to buy the New York Board of Trade.

Both exchanges were started in the 19th century. The CME, known as the Merc, opened in 1898 as a trading post for butter and eggs. The CBOT's history dates to 1848 when it began exchanging contracts for future delivery of flour, timothy seed and hay.

CBOT demutualised and floated last year, and soaring trading volumes and excitement over industry consolidation have pushed the shares up from its initial US$54. The takeover price was set at US$151 in CME stock or with a part-cash alternative.

CME shares are at a record high in anticipation of an acquisition that will boost the pool of liquidity and the breadth of derivative products.

Last month was its second busiest month ever, with overall trading up 15 per cent on the year before.

The company has long expressed an interest in consolidation and has flirted with several other exchanges. Recent rumours have linked it to the Intercontinental Exchange and Deutsche Borse.

- INDEPENDENT

Cheers
Flying Goat


Sorry-- [B)]:)--- Flying Goat, must have clicked my last new post in reply to ohyme and our New Member--'treadcarefully'-- just after your excellent post.

Yes indeed FG,....

Agree, that What you have just now posted; is also ... imo Veeery interesting and significant for (ITE) investors....-- imo .....[:0]

How did you posssibly ever 'discover' this little bit of intel gem FG..[?]!![^]

Regards,

Robbo. :)

robbo
19-10-2006, 12:32 PM
ITE) it&e.

ASX Announcement for (ITE) has Just now been Released:

.... re: the (ITE) Speeding Ticket....

In my view, the significant sentence, made by (ITED) just now to the ASX; is this one:

...... "The Company intends to lodge an announcement shortly; .... updating .... --the market on information already released..."

Any of you guys good with ....'cut and paste' ....who can wack up this whole ASX announcement page --? [:I]- [?]

Kindest Regards,

Robbo :)

robbo
19-10-2006, 01:17 PM
(ITE) it&e.

So the: '$64 dollar' question, I suppose, is just exactly....

What is meant by word: ..... 'shortly' ? [?].....;)


in para 3. of that ite announcement ... to ASX ...

Regards,

Robbo :)

robbo
19-10-2006, 01:42 PM
it&e Clue.....(ITE)

Guys there is, imo a Big Clue... as to what actually .....will be .... released; that is contained in this (ITE) ASX 'teaser reply ' from the (ITE) announcement, just this morning... before the market re-opened...

And the answer to the 'juicy clue'-- has, imo, 3 seperate parts/aspects to it....;)....;)

So then: Anyone like to have a quick stab [?], or even a Wild Guess .... [8D][?].... what the answer might be [?]??

Uncle Maxie, has been sent down to the Milk Bar, as we speak, to get 3 Mars Bars...in preparation for the Prize Ceremony shortly.... [8D]

Kindest Regards,

Robbo :)

treadcarefully
19-10-2006, 01:51 PM
Hi All,

In response to your question David

1. Additional C/T's;
2. M&A activity;
3. Progress in Euro/Nth America mkts

Cheers:):D

robbo
19-10-2006, 02:03 PM
Hi Treadcarefully,

Well done to TC... !! [8D][8D]..

Grand Prize of 3 Mars Bars are on the way......(Just be careful, bl*&^%ody, 'ol Uncle Maxie..... might have a had a small bite on 'em, and carefully tried to jam, said half eaten Mars Bars back in ze wrappers... --[}:)][}:)]

But do not worry TC, as U. Maxie is .....relatively... germ free ...[:0]

.....btw... TC.... tried to email U .....but your Hotmail did not like my Telstra Bigpond connection... [:I]??

PS. Would add maybe one more of course, and that is the LSE issue--but agree tha the 3 you nominated, especially the M& A ....is the interesting one.... together with the C/T's...:)

Kind Regards,

Robbo:)

djones
19-10-2006, 02:40 PM
My guess for shortly is Thu 19 Oct 06, 5.13 PM Sydney Time.

robbo
19-10-2006, 03:23 PM
(ITE) ite

Hypothetically speaking;


... To …….. ‘misquote’ ;)--- Phil Burgess (Director of Telstra) – ....
.....if asked:....

Would I now ... buy .... it&e (ITE) shares at the moment: ....for my ;)- Mum [?]….... [?]??—

…. My Answer, would be: -- ‘ definitely; ‘yes’,

And if asked, hypothetically-- would I buy ‘em…. before too soon…. ?”

…. my answer, would be: definitely; ‘Tes’,

And if asked, hypothetically-- would I buy ‘em …..before tomorrow …?—due to the pending announcement…. …. my answer, would also, be: definitely; ‘Yes’....

.....All totally.......;)

.......hypothetical questions and answers --- ‘of course…”--;) ...

Kindest Regards,

Robbo :)

PS. My own guess --??[?]:
At the latest -- Monday morning--before theopen--maybe even Friday; tomorrow evening... for (ITE) update announcement, as pre-empted today by the company.



DISCLAIMER
Views expressed in this email and/or internet correspondences, are my tentative thoughts and opinions only. These views are not to be read as being, or forming…. any form of a recommendation; of any sort whatsoever. Rather, they just simply personal opinions, and are NOT financial advice. Furthermore, these views are unwarranted and ought not to be read, as other than personal opinion and speculations, and are not warranted in any way whatsoever, either expressed or implied, for their accuracy, veracity, or likely predictive outcome. Furthermore, these comments are highly subjective and prejudiced by the writers own opinions and outlook. Therefore these views may be prone to errors, as they have not been checked by a third party, and are possibly incomplete and/or inaccurate. The opinions expressed here; are strictly on a “Without Prejudice” basis only. These personal subjective thoughts herein expressed, are only one view among many, and at best; are only the author’s whimsical thoughts, impressions, and intuitions. Obviously, as with all opinions, they are open to discussion and refutation, as well as consideration of other interpretations and review. For any investment decision, always do your own separate investigations and research, and always seek your own qualified and authorized third party independent financial advice.

Kindest Regards,

Robbo :)

tommy
19-10-2006, 03:55 PM
ITE again facing "Great Wall of China" on sell side (must be all those "rabbits"), trading volume today has decreased over past few days so ITE might hover around this level for a while before announcement...

ASX speed ticket was way overdue!

Not doing bad for a down day like this though.

robbo
19-10-2006, 05:21 PM
(ITE) it&e.

Hi Tommy great post-- and I particularly liked the 'rabbits and Wall of China reference !! :D

All those 'rabbits'-- that are kept out of China-- by the-- Great Wall-- yeah-- very good AD that one-:D:D-- by Telstra's very Creative-- Ad Agency-- hey what--!! Tommy-- [8D][^]...

Of course imo Tommy, the sell side pseudo Depth--

are just the Silly 'assigned'-- 'unofficially of course';--imo-- --stacker Brokers; who yet again; are 'trying'.... to 'stack' the 'Depth Sell Side' -- like yummy Maple Syrup & Creamy Ice Cream with fresh strawberry jam [:p][:p]'stacked' Pancakes--....[:p]

And are simply, imo, put their by the self appointed; 'unofficial'-- (ITE) 'market makers" [}:)][}:)]-- Tommy-- ;)

ie:the market makers'-- for ite who are Unsuccessfully again; -- ;)-[8D]trying to, 'keep a lid 'on the potential (ITE) buyers --getting theior allocation before the next big Run again-- any day now ...imo...

The biggest thing these silly (ITE) 'Depth suppressers' want to do:

is to lure & get folk to focus on .... the pseudo/false-- -sell side--... derrrr....

And take the Proper focus; away from, something which is very hard to refute, very evident and factual and, imposible, imo to argue at all effectively against; .....

Namely:


What it&e (ITE) have already released as some of their listed major Blue Chip Clients from around the Globe: listed below:--

Commonwealth Bank (CBA),

National Australia Bank (NAB),

Westpac (WBC),

HSBC (Hong Kong Bank) ,

Fortis,

Bankers Trust,

Bears Stern Bank (USA) ,

Macquarie Bank,

Chicago Mercantile Exchange (Worlds largest Commodity Stock Exchange),

SunCorp,

KBC Bank (Europe--Belgium),

Zivnostekska--Gernmany & Swizerland)--Bank,

Brown Bros Harriman Bank in UK and USA,

Penison France --Insurance, Superannuation and Banking,

Post Bank Germany/Europe,

BT Financial Group --United Kingdom,

Australian Stock Exchange (ASX),

ANZ Bank,

.....and .....all of the other ....Blue Chip Banks, and Blue Chip financial Institutions who have requested confidentiality--see it@e recent ASX announcements .....--

-- As well as other Blue Chip Banks and Financial instos in the Multi national Blue Chip Client Pipe line...[:p]:)

All is Rather obvious, in my view.... [|)][|)] :)

Kindest Regards,

Robbo :)...

DISCLAIMER
Views expressed in this email and/or internet correspondences, are my tentative thoughts and opinions only. These views are not to be read as being, or forming…. any form of a recommendation; of any sort whatsoever. Rather, they just simply personal opinions, and are NOT financial advice. Furthermore, these views are unwarranted and ought not to be read, as other than personal opinion and speculations, and are not warranted in any way whatsoever, either expressed or implied, for their accuracy, veracity, or likely predictive outcome. Furthermore, these comments are highly subjective and prejudiced by the writers own opinions and outlook. Therefore these views may be prone to errors, as they have not been checked by a third party, and are possibly incomplete and/or inaccurate. The opinions expressed here; are strictly on a “Without Prejudice” basis only. These personal subjective thoughts herein expressed, are only one view among many, and at best; are only the author’s whimsical thoughts, impressions, and intuitions. Obviously, as with all opinions, they are open to discussion and refutation, as well as consideration of other interpretations and review. For any investment decision, always do your own separate investigations and research, and always seek your own qualified and authorized third party independent financial advice.

Kindest Regards,

Robbo :)
------------------

djones
19-10-2006, 05:27 PM
Everyone should save some money up until we have enough combined to buy all of the brokers shares that they are using to create an image of a sellers market. They would get the shock of there lives as there 300,000 shares get snapped up in minutes.

At an agreed time we should buy up the 300,000 shares that they are putting up at 20 cents. They would get such a shock that they have sold all there shares and if we all did it at the same time they wouldnt have enough time to pull the sale of there shares and would end up with nothing....

(we would also eliminate the sell side so that the upward rising price could begin)


Note: Just starting out so know idea if this would work!

==========

EDIT: Now that I have checked out the sell side I have realised it could be a huge task.

At 20.5c and below there are 2,147,005 shares and to buy them all up and leave the sell side basically empty we would need to have $420,000 so I cant see it as a practical idea lol.

robbo
20-10-2006, 11:39 AM
(ITE) it&e

Chicago, Chicago ..... Its My Style of Town !!...

Hi Guys,

Positive (real time) global Development here, imo, for it&e (ITE)

Might be worth a moment to reflect; on the potential positive, impact on this massive merger between the:

Chicago Mercantile Exchange, and the Chicago Board of Trade.

Fact One. Chicago Mercantile Exchange (CMX) is a Core it&e (ITE) Client -- for the provision of Software tools to calculate, simmulate (Monte Carlo style) -- Counter Party Credit risk.

Fact Two. Chicago Mercantile Exchage is now; in the formal process of 'buying out' in a 'friendly merger'-- the Chicago Board of Trade. (CBT) .

-- The two Chicago markets, will have a combined market value of $26 billion,(if this merger goes through, as is expected)-- and the underlying value of contracts which they trade daily.... (get this bit guys)-- is a gigantic $4.2 trillion.

.... errrr gals and guys, yep, that is Yes, that's trillion with a "t" ....

Fact Three. CMX will merge its technology derivatives platforms into the joint entity.

This will be, imo VERY good Growth opporturnity for it&e (ITE).


All it really took was the Chicago Mercantile Exchange joining forces with the Chicago Board of Trade and Wam, Jam & Bam! -- what do we now have 'on the cards' -- ...[?][:p][8D]

Chicago, not New York, becomes now the largest financial market in the world (once the merger is approved....)... [:p][8D]


What is at the heart of this move, in The Pub's view of this development...??

.... It's all because of derivatives,...
Derivaties, (as some of you of course know)-- are very sophisticated and controversial investment products; that few people outside financial services understand, in all their complexity....[?][:I][8D]


Sometime in the past approx # 20 years, more money started pouring into derivatives than all the stocks, bonds and any other investment vehicle you can think of.....


The two Chicago markets have a combined market value of $26 billion, and the underlying value of contracts they trade daily is a gigantic $4.2 trillion.

.... errrr gals and guys, yep, that is Yes, that's trillion with a "t" ....

This fact, making 'derivatives' the dominating ruler of capital around the world -- even though some investors (Buffett for one)-- reckon they're dangerous. (While guys like George Soros et al love 'em !!)...


Warren Buffet, the so called "Oracle of Omaha" who runs one of the largest conglomerates in the world, Berkshire Hathaway, often gets a bit stressed....about the derivatives market.

Buffet calls derivatives "financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal time bombs, both for the parties that deal in them and the economic system


That may be so, but even the Big B cannot deny how popular, derivatives ahve become--even of cours here in Australia and New Zealand...?

What are derivatives....??

Well I for one do not deal in them, (I am too boring)-- but the basic concept goes like this:

In the dictionary it says that:

The word "derivatives" actually is actually a generic term that refers to an assortment of financial products that work like contracts. They "derive" their value from movements in things like stocks, or bonds, currencies, interest rates, commodities, and just about anything you can think of.


So in essence, ; you "bet" that 'the value'[}:)](or so called value--not intrinsic value ;);))-- from the underlying asset; .....will either increase or decrease-- ( ie: yep, you can profit by someone's loss) -- by a certain amount of money $$--

robbo
20-10-2006, 02:02 PM
ite (ITE).

In a word: This Market Update, is imo-- Excellent.:)

Makes, imo, ite a much stronger undervalued, even clearer-- easy decision to 'buy' ite now. :)

Transparent, detailed and so many layers of value and new earnings drivers.[^][^]:)

This is, better than i could have hope for guys.

Indeed it is really brilliant-- And has multi layers-- in adding tangible, identifiable, factualk and real intrisic earnings grwoth value--

And so Transparent.

More anlaysis very soon.

imo-- ite(ITE) is a now much Stronger Buy.....

Regards,

Robbo :)

senor guacamole
20-10-2006, 02:06 PM
market update is out. thoughts, comments, suggestions? i thouhgt the third paragraph
'notwithstanding the increase in business opportunities, ther continues to be uncertainties in predicting the timing of CONTRACT CLOSURES AND THE ASSOCIATED REVENUE AND CASHFLOW STREAMS...
was fairly strongly stated. therefore may be a bit of that going down.
as an aside.. can someone inform me what are the tiers or banks ie what differentiates a teir one from a teir 2 bank/institution?

robbo
20-10-2006, 02:11 PM
Hi Senor guacamole--

Good point you highlight- SG

But it is only the 'timing' which they (ITE) are right to be conservative about -- and are being so transparent and honest about-- rather than hypey ...

What They(ITE) are simply doing, imo SG, is that (ITE) are doing a 'Disclosure'--

Like saying-- 'not withstanding all of the detailed laid out final '2 or 3'-- on the shortlist in 3 different continents---'

--which will analyze more this arvo--...

we need to say that the precise 'timing' cannot be of course guaranteed...--until the money is formally in the bank...

However problemo SG.

By then the (ITE) share price will be north of $1.20... :)

So one must make a 'cool' assessment . [8D]

Which is now a LOT lot easier.....

Any analyst worth her/his salt; can see the intrinsic value happening here: for ....ite (ITE)....

And the value has gone up imo by a significant multiple..

In a word: This Market Update, is imo-- Excellent.:)

Makes, imo, ite a much stronger undervalued, even clearer-- easy decision to 'buy' ite now. :)

Transparent, detailed and so many layers of value and new earnings drivers.[^][^]:)

This is, better than i could have hope for guys.

Indeed it is really brilliant-- And has multi layers-- in adding tangible, identifiable, factualk and real intrisic earnings grwoth value--

And so Transparent.

More anlaysis very soon.

imo-- ite(ITE) is a now much Stronger Buy.....

Regards,

Robbo :)

treadcarefully
20-10-2006, 02:16 PM
Hi All,

Robbo good call on the timing of the announcement. Great ann Re: Aust,Euro & Amer's etc however in the last para their comment on the timing of Contract sales and purchases of new businesses etc will or may lead to a loss for the December half.

Does this concern you at all [?][?][?][?]

OneUp
20-10-2006, 02:25 PM
quote:Originally posted by OneUp


What kind of profit do you think they can manage this year?

They are currently profitable - but $100k in NPAT is hardly very impressive. And it looks like they were breakeven in the second half of 06. So what of 2007? Management comments not especially bullish or revealing looking forward.

Don't hold and don't understand why ITE are on the rise - except the AIM listing.

[B)]



quote:Originally posted by davidrob
I reckon that it&e will do a NPAT of between $3.5 - $4.5 millions for the half. (4.5 months tiem apprix)-- -- Based on extrapolating the same Revenue Increases pro rat from LAST annual reports.

However this is conservative.


Company announcement today:

Company may not be profitable for the half!

Don't care who their clients are if they can't turn a profit. Long sales cycles. I just took my toe out of the water!

The investment case for IT&E just fell to bits.

robbo
20-10-2006, 02:32 PM
(ITE)

No Concern What-so-ever.... The reverse in fact.

They are just being honest, scrupulously honest. And it is an excellent outlook.

Do the probability & the math.[^]:)-- we are now October 20. All they are doing.... is saying they need to get some sign offs by December 30--which is perfectly prudent...

The underlying fundamentals are brillaint now.

Look calmly and collectedly at the situation they are now IN.

Yeah.

BTW; usally they are up agaisnt 22-30 or so tenders--
they are in the top 2 or 3 and have a history of winnning already--both ehre in Oz,in Europe and USA and England and Hong Kong.

Be cool.[8D] Buy when others irationally Panic is my motto now.



The enterprise Value--and future earnings value here is clear than ever.

Small traders now will exit--Large Big Funds will buy.

I have personally just executed BUY orders for anothr $32 K b/w 16c and 18 cents-- .

wns
20-10-2006, 02:40 PM
quote:Originally posted by OneUp
Company may not be profitable for the half!


surprise, surprise

robbo
20-10-2006, 03:10 PM
ite (ITE)

The "Summary Section" of the (ITE) announcement said in full:-- with no edits--


Summary.

As mentioned above, the Company would not expect that all of the current opportunities willnecessarily develop into actual sales.

However, the opportunities that are presenting
themselves .....

and, our ability to achieve short listed status gives the directors confidence in the business and its strategy.

The Board continues to hold the view that IT&e has created significant momentum over the past 12-15 months.

The Board believes that the Company is capable of continuing to grow a profitable, attractive and sustainable business for all of its stakeholders.

The Board is mindful of the risks inherent in aggressively delivering change and development throughout this organization and is focused on ensuring that the Company can be developed in a measured way without exposing undue risk to shareholder value.

The Board is confident of delivering increased profitability for the full financial year ....as previously announced.

For the half year to 31 December, the Company may not be operationally profitable given the long sales cycles being experienced, business development
costs associated with the new opportunities, and the operation of guidelines and internalpolicies concerning revenue recognition.

The Board will provide a detailed further update and plan outline at the forthcoming AGM in November.

Read this --IN CONTEXT-- and you will imo make a lot of money, very soon, with your (ITE investment).... This is a High quality Business Enterprise--with Global Sales now and in the Pipeline-- punching far, sucessfully, 'above its weight' ....

Kindest Regards,

Robbo :)

DISCLAIMER
Views expressed in this email and/or internet correspondences, are my tentative thoughts and opinions only. These views are not to be read as being, or forming…. any form of a recommendation; of any sort whatsoever. Rather, they just simply personal opinions, and are NOT financial advice. Furthermore, these views are unwarranted and ought not to be read, as other than personal opinion and speculations, and are not warranted in any way whatsoever, either expressed or implied, for their accuracy, veracity, or likely predictive outcome. Furthermore, these comments are highly subjective and prejudiced by the writers own opinions and outlook. Therefore these views may be prone to errors, as they have not been checked by a third party, and are possibly incomplete and/or inaccurate. The opinions expressed here; are strictly on a “Without Prejudice” basis only. These personal subjective thoughts herein expressed, are only one view among many, and at best; are only the author’s whimsical thoughts, impressions, and intuitions. Obviously, as with all opinions, they are open to discussion and refutation, as well as consideration of other interpretations and review. For any investment decision, always do your own separate investigations and research, and always seek your own qualified and authorized third party independent financial advice.

Kindest Regards,

Robbo :)

ohmyme
20-10-2006, 03:22 PM
The company hasnt actually announced that they will be reporting a loss this half. I think this is more of a timing issue. Whether they book a multi-million $ contract in December or January does not concern me in the least. What does concern me is the following:

1. Board has re-affirmed a full year net profit.
2. Company converts at least one of the 4 short listed international contracts within the next 9 months.
3. Converts some of the 8 international commercial mandates within the next 9 months.
4. Closes out any of the 6 Asia Pacific advanced deals in the pipeline within the next 9 months.
5. Locks in one of the two European strategic initiatives within the next 9 months.
6. Lists on AIM London very shortly.

Happy volatile investing everyone :) I am a comfortable and cool holder of ITE. Looking now towards a market cap of $120million within the next 8-10 months, or a +400% return on investment at current prices.

ciao

djones
20-10-2006, 04:01 PM
"Barramundi Limited intends to raise $65 million to become a listed investment company investing in smaller, growing Australian companies." The closing date for this offer was 1 minute ago.

This could/will mean ISS and ITE could be a couple of there potential investments so better to get your buy orders in before these guys!

Flying Goat
20-10-2006, 04:20 PM
quote:Originally posted by djones

"Barramundi Limited intends to raise $65 million to become a listed investment company investing in smaller, growing Australian companies." The closing date for this offer was 1 minute ago.

This could/will mean ISS and ITE could be a couple of there potential investments so better to get your buy orders in before these guys!


Hi djones

I was thinking exactly the same thing a few weeks ago, this is just the type of business Carmel and co would be interested in.... more on that later.

Cheers
Flying Goat

tommy
20-10-2006, 04:57 PM
Hi all,

Don't understand why ITE had to be dumped this sharply after the announcement, ITE's announcement is very clear in that it simply clarified the timing issue of contracts which might lead to lumpiness in sales and thus revenue.

All in all, I like the announcement and see more positives than negatives: one major contract signed and ITE will fly like a rocket.

[Positives]
- Management's confidence and reaffirmation of full-year revenue growth
- Clarification of progress in ongoing sales efforts in Europe, US and Australia
- Clarification of Mr. Meekings' role

[Negatives]
- How much cash does ITE have right now? Will they have to raise capital in the near future?
- I am surpised ITE is NOT targeting Asia at all (especially Japan, followed by Singapore and South Korea). Are the likes of TSE (2nd biggest stock exchange in the world), Mizuho, Mitsubishi UFJ and other financial giants made aware of the existence of ITE's product at all? Or is it because they can't compete with the technologically superior(?) Japanese tech firms?

P.S. I'm still holding. Someone sell me more ITE at 10c!!!!
____

20 October 2006 ASX announcement
Market Update – 2006/07 Strategic Initiatives Progress Report


The Board would like to take this opportunity to report on progress to date on delivery of the strategic initiatives outlined in IT&e’s market update of July this year.

Overall, IT&e continues to see expanding new business opportunities for the Company and its products across all its markets in the European, American and Australia/Pacific regions. The prospects for growth remain positive.

Notwithstanding the increase in new business opportunities, there continues to be uncertainties in predicting the timing of contract closures and the associated revenue and cashflow streams. This should be borne in mind in considering the possible impact of the
opportunities described below.

European Business:
In addition to IT&e’s existing client business, IT&e’s EMEA team is currently:
- Short listed in the RFP processes at a total of 3 Tier One and Tier Two European based banks for the Company’s flagship Razor Risk Management product line; and
- Bidding for mandates with a further 5 banks throughout the region, for which those banks have identified commercial requirements for application of technologies provided by IT&e across the Company’s current risk and trading product sets.

IT&e is enhancing its market position and has, during the past 3 months, established a focused business and delivery partnership in Europe and the Americas with Capco, a leading management consulting company specializing in the financial markets area. In July, the Company reported that it was taking the initial steps towards achieving dual listing status on both the ASX and the London Stock Exchange’s AIM. The Company can report that the AIM admission process is progressing to plan with all the relevant advisors having been appointed.

As an associated activity, the Company reported that it was in the process of appointment of a London based and domiciled Independent Director with relevant experience in the European financial services industry. It was announced last month that the Board had appointed Greg Meekings as UK domiciled Independent Director. Greg has over 30 years experience in Information Technology from both the supply and consumer sides of the industry, including 18 years experience in the financial services market through his time at Reuters Plc where he was their CIO prior to retiring in 2004. Whilst at Reuters Greg held a
number of senior roles including responsibility for all global IT product development and operations. [b]He also had overall management and P&L responsibility for a number of Reuters global divisions, including Dealing 3000, Transactions and Trading Systems, with global
revenues of £800m and profits of £200m. Since then he has been pursuing a number of nonexecutive roles. Mr Meekings is actively involved with the Board, providing guidance on the European market and is curr

robbo
20-10-2006, 05:04 PM
it&e (ITE)

Preliminary reflections; on the (ITE) announcement...

Firstly:-- Humble Suggestion:

Actually Print Out of your printer, the (ITE) announcement; actually print it .... off on your Printer,..... and go away ....from the PC, ....and get a nice cup of tea,.... and sit down with a Good Pencil ....and read the announcement out aloud to yourself, slowly --twice--....

Do that...... ..... Just for Robbo. [:I]

(1) Get a Big Blue Texta.... and count for yourself -- carefully -- the actual Number & Quantity --- of Large Blue Chip Global future annuity Clients .... that (ITE) are now, at advanced stages of negotiation and/or serious high level Proposal with....right now... as we speak....??

(2) Add to that .... the impact of the Chicago Xchange connection

(3) Ask yourself when you are ready; how successful ite have been; thus far, at stacking their system up--on only its merits--against the competition... and winning the business -- on merit.... ??

(4) Think of how the London Investors will respond to a company like it&e(ITE) come November (next month). ...??

(5) Ask yourself; if you want to be associated with a co. that only ever tells you ..... best 100% scenario possible--??-- and only---- the 100% rosy picture-- or tells you the entire detailed transparent picture--.... with all the variables..??

(6) Then reflect on this:

If the larger investors --re rate it&e(ITE) up to say 22 cents next week, What will subsequently then be likely to happen....in your opinion; with every subsequent New it&e (ITE) Client Announcement henceforth ....?[?]...over the next few weeks and months immediately ahead..??

(7) What will be the effect of Greg Meekings( new London Director) new 2 European strategic initiaves on earnings going forward....??

(8) What will be the effect on earnings of the New Business that are acquiring whicc they are Memo Of Understanding (MOU) stage with .??

(9) Note how comfortable it&e(ITE) are to be so forthright and detailed .....about the 'totality' .....of their excellent Business --in the USA, Canada, Asia, London, manland Europe, and Australasia...

So then: imo.... Just keep reading and reflecting on what the flow on short and medium term OUTCOMES and CONSEQUENCES are going to be; from what is contained in the document.

And then, just keep re- reading again; the actual Primary Document.

'Filter out the noise'.

And only... 'read the document' and ponder who ITE are dealing with--??-- and getting to final stage negotiations with on top of their sales succeses thus far.??

If you do nothing else, just read the document.

Nothing More. .. Nothing Less.

Just calmly and analytically-- read the (ITE) Market Up Date -- all 3 pages-- and reflect deeply -- and calmly... for a bit ......

Regards,

Robbo :)









() Note that the Monarque sytem is being even further up graded in capabilities.

ohmyme
20-10-2006, 05:12 PM
Robbo you are missing the alliance they have formed with Capco in Europe. Their website is www.capco.com -&gt; pretty impressive company.

I cant find anywhere what size the company is, and it looks like they are a private company backed by a venture capital firm. On reflection they look quite large, here is an excerpt from the website describing what they are about:

"With offices in North America, Europe and Asia, Capco is the leading global provider of integrated consulting, processing services and products, engineered by financial services experts exclusively for the financial services industry. As pioneers of new ways of transforming operational capability and efficiency, we help clients successfully increase revenue, reduce costs and enhance control."

tommy
20-10-2006, 05:19 PM
To get a clearer picture of the competition environment, these are the type of companies ITE is up against at least in the risk management market (as of Dec 2005... sorry, can't find anything newer):

http://www.risk.net/public/showPage.html?page=306358

Special Reports

Technology: Technology
December 2005 | Volume18/No12

Software Survey 2005

Risk's annual roundup of new technology for pricing, trading and risk management shows continued innovation, including delivering software as web-based services, while unprecedented consolidation means a number of familiar names have disappeared

ALERI

In November, the company released Aleri Streaming Analytics Platform, which offers real-time data aggregation and analysis for enterprise risk management. The platform aims to provide non-intrusive data aggregation across any number of disparate streaming and static data sources, applying complex processing as the data arrives to combine, filter and analyse the data. Results can be published in real-time and/or stored for ad-hoc queries, analysis and reporting. Adapters are available for common platforms and messaging environments, and stored data can be queried using tools conforming to data standards SQL and ODBC, and Olap for multi-dimensional aggregation and drill-down.

ALGORITHMICS

Among the enhancements to its product suite over the past year, Algorithmics upgraded its Algo OpVantage First Database to level 2 BIS business lines and event types for mapping into operational risk categories required under Basel II. Version 4.5 of its Algo Suite risk management system included enhancements to the integration of economic capital measurement and regulatory compliance, introduced credit workflow functionality and reduced complexity and cost of ownership. In January, the company plans to release Open Mark-to-Future, a programming interface to the Mark-to-Future valuation framework to allow both client and third-party pricing engines to create Mark-to-Future cubes.

ALLEGRO

To its multi-commodity trading and risk management system, Allegro has added a real-time executive 'dashboard' that enables users to monitor different business processes important to the company's operations, including transactions, trades and risk factors. Additional enhancements include multi-language support, maps, advanced graphing tools for reporting and analysis, improved functionality for FAS 133 compliance, and new collaboration tools such as calendars, documents and correspondence. In addition, a new hedge module can identify and calculate hedge effectiveness for FAS 133 reporting, calculated for any given time period, based on user-selected parameters.

ANVIL SOFTWARE

This year, the company launched Anvil Margin, an enterprise-wide exposure and collateral management application that covers global trading exposure and resultant collateral. It supports a wide range of products, including swaps, options, foreign exchange, equities, futures, bonds, repo and money markets. Features include modelling of legal agreements and documentation to allow trades to be netted for the purposes of margin, real-time monitoring and display of mark-to-market exposure (variation margin) for the present and future, ability to book margin calls of cash or securities, and cross-product netting.

APPLICATION NETWORKS

By combining its JRisk financial software with buy-side specialist GlobeOp's services, Application Networks has created a trading, risk and control infrastructure that provides pre-trade analytics, sensitivity and what-if analyses for traders, and sensitivity and scenario analysis, stress testing, value-at-risk and limit monitoring for risk managers. The web-based system can be customised to users' requirements and will support a wide variety of asset classes, including fixed income, credit and equity derivatives, mortgages, foreign exchange and hybrids.
APT

APT has improved its risk models for fixed income and multi-asset portfolios, and plans to make all its models available in a multi-currency framework in 2006. It ha

ohmyme
20-10-2006, 05:23 PM
More juicy stuff on Capco, nice company to have backing your products:

"Capco is a leading global provider of integrated transformation services designed specifically for the financial services industry. These services include consulting, managed services, and technology solutions. They all leverage Capco’s deep expertise in the financial services industry. Capco's clients include most of the world's top 50 financial services institutions in the corporate and investment banking, asset management, hedge fund and retail financial services segments. As leaders in ways to transform operational capability and efficiency within financial services, Capco helps its clients successfully grow revenues, reduce costs and enhance control. For more information, please visit www.capco.com."

robbo
20-10-2006, 05:26 PM
Hi Tommy,

(1) yep--have discussed that list to Senior Mgt at ite.

(2) Example 98% of those systems--from RISK Magazine-- take 7-9 hours to do what ite systems do in about 15 minutes--Real Time-- That is why so many Senior Banking people--and I mean Sneior--are getting onto the Board of ITE.. example: Elliss Bugg from CBA -- and that guy headed up the entire Risk Division.

(3) If you think about it for a minute Tommy-- and actually Read the Report-- now just released; you would ask--why are ite (ITE) always getting onto the Top of the Short list, with all these major Bankls and Financial Institiutions...??

Answer: Capability, Accuracy, Speed, Robustness, and Perfomance.

They have a cleer tangible sizeable advantage. The oppostion of (ITE) --on that list-- Tommy; is not even... not even close.

Most of those are using antiquated and out of date technology--that is not both Accurate and Fast enough--to do the High Powered Monte Carlo Simmulations for the derivative counter offer Trade simmulatins in the seconds required...

That is WHY ite has been so successful--winning more than 80% of the tenders; it puts in for to date...

Kindest Regrds,

Robbo

tommy
20-10-2006, 05:46 PM
Yo robbo,

Good thumbs up for ITE against its competitors, this is still the very EARLY stages for ITE's expansion into the global risk market, so we shall see how things go:)

The fact that leading financial institutions have taken up ITE goes to show that ITE's product offering is technologically superior to its peers, so I'm not worried about that at all... I'm hoping they are marketing their product aggressively enough.

While I do expect turbulence in share price (ITE seems to be becoming a bit of a day traders' stock too, like the early days of SEN) and growing pains associated with operational expansion, financial institutions are increasing their pace to adapt to BASEL II requirements and investing more money into this field, which translates into more opportunities at tenders and thus more exposure.

BTW, How much cash does ITE have right now? Will they have to raise capital in the near future?

Would UXC be interested in pumping a bit of money into its little bro ITE?

____

Hi ohmyme,

Who are capco's clients?? Can find very little info on them.

robbo
20-10-2006, 06:01 PM
HI Tommy,

Excellent points.

Answers to your Questions:

(1) Cash at present.. As of June 30 -- 2006 -- $4.4 Millions.

(2) Re UXC-- UXC says, in relevant UXC latest ASX announcement; that from the UXC point of view; 'yes' -- that is what they (UXCC) would like to do...

Whether that is the financial means; which (ITE) Directors feel is best; is up to the ite directors...-- However they (ITE) are/were trading very profitably... as of last Reported quarterly trading numbers.....

(3) Selling/Marketing aggressively enough...?

Answer: "Read the lastest Market Up Date --in detail Tommy--twice ! -- Really [:I][:I] !!

(4) Tommy, I beleve (based on extensive evidence to date)-- that indeed; the .... Next [2-3 weeks], and [2 months] , [3 months]-- -- through to-[ 7 months[-- and I mean all those SEPERATE four (4) time frames -- are ....imo going to be.... among the most exciting of times (and yes a little volatile!!)-- from a real business Development point of view --

And will be also, a very financially rewarding, from the share investor's point of view, imo-- in this real 'tangible gearing up' -Period we are in Right NOW.... - of it&e's expansion and ....imo, high potnetial of (ITE) re rating in market cap terms...

Kindest Regards Tommy & have-a-good-weekend-- !!

Robbo :)

tommy
20-10-2006, 06:06 PM
Thanx robbo for your quick replay mate,

Yeah I have read the announcement and am sure they are marketing their products to the best of their ability in the West, but what I mean is that they should probably hire more reps like tech localization firms/distributors in Japan, Singapore and South Korea to get their product out there, and even China and India.
Am I being too greedy? hehehe

Enjoy your weekend[:I]

steve fleming
20-10-2006, 10:13 PM
quote:Originally posted by wns

Just had a quick look over their historical financials.

Over the last 4 years...

Revenue has totalled $45.4m...

for a net profit after tax (totalled over the last 4 years) of negative $15.97m.

They've made a loss every year for the last four years.

This "might" be one for the traders, but from a fundamental buy & hold point of view, I wouldn't touch it with a barge pole.

Yes the market cap is "only" $34m but I wouldn't call that cheap or under-valued.


Hi Robbo

With reference to WNS's post and i must admit, i haven't spent too much time on ITE but, in some of your previous posts you have detailed the numerous clients of ITE, yet in 2006 t/o was only $15mil with a g/p of just $6mil....just what sort of $$$'s is each client worth to ITE??...the retained losses mentioned by WNS suggests that ITE has been failing to cover costs??....2005 there was a negative gross profit which is really, quite appalling....as with BQT, it is all very well having these high profile clients, but if the market is competitive etc or whatever and ITE is struggling with margins, they are in most cases better off without them...

anyway, just a little curious, Robbo...appreciate your posts, as always.

cheers

gjc
20-10-2006, 10:51 PM
Dear all,

Re ITE announcement today, I have to say that I agree with the bulk of the sentiment expressed already today here at ST that it was a very positive announcement. ITE are about four years into a committed five year plan to reposition itself as a premier player in the global financial services IT market.

Considerable time and effort has been spent developing new products and improving existing ones. In the software engineering game this is very expensive to do, and for the type of software ITE develop, it is extremely expensive.

ITE have also spent money on strategic acquisitions of firms such as NextSet and TMS to broaden their product base and software engineering capabilities. Again expensive exercises.

ITE have expanded staff (including the key appointments of Ralph Pickering and Greg Meekings) and opened new offices, both here in Australia and in Asia, Europe and the US, again at great cost.

And whilst a good portion of these restructuring and repositioning costs have come from capital raisings in 2003 and 2004, the bulk of these expenses have come straight off the bottom line of the company, particularly in recent years.

In spite of all these costs, they still managed a result in the black for their Jun 06 figures and may yet do the same to Dec 06. For those out there that are concerned that ITE have not been profitable on paper in recent years it must be remembered that these restructuring costs will start to wind down in the very immediate future. And those concerned that ITE cannot (or more correctly, will not) nail down contract timings for their sales, please remember that ITE aren't selling boxed software like MYOB over the counter where sales revenue is immediate, they are selling high-end/high-value IT solutions to very large institutions where the final sale date can never be accurately known until the solution is finally installed and implemented and the contract filled.

And all the while, ITE have been quietly yet consistently bidding for and winning an astonishing percentage of contracts with an enviable list of premier global financial services instrumentalities.

To my way of thinking the bulk of the hard work and financial pain is well and truly behind ITE now. Solid foundations have been laid and bridges to the future have been built, and paid for. From here on in the future is - imo - extremely bright for ITE.

A factual and level-headed announcement from them was exactly what I was looking for today, and that was exactly what we got. Such an announcement will see a cementing of the recent SP gains to an appropriate price, and future announcements (and there will be plenty over the coming months - new business, repeat business, new alliances, AIM listing, move to profitability, etc, etc) will see an appreciable rise in SP with every positive announcement.

Regards, GJC.

Flying Goat
20-10-2006, 11:08 PM
quote:Originally posted by tommy

Hi all,


[Negatives]

- I am surpised ITE is NOT targeting Asia at all (especially Japan, followed by Singapore and South Korea). Are the likes of TSE (2nd biggest stock exchange in the world), Mizuho, Mitsubishi UFJ and other financial giants made aware of the existence of ITE's product at all? Or is it because they can't compete with the technologically superior(?) Japanese tech firms?





hi tommy, ohmyme, Robbo, AA, djones, oneup, senor guacamole, wns, David Hardman, treadcarefully and team

tommy, first up thanks for all the competitive info, good work - will take a closer look next week via the porters frame work. Just wanted to clear you up on one isse re: your comments above, see extract below from todays announcement:

"In final contract negotiations for the first sale and delivery of the upgraded Monarque application to a Tier One Asian Bank"

In my mind this was among the key substantial pieces of info: FINAL CONTRACT NEGOTIATIONS - TIER ONE ASIAN BANK my friend, the world is their oyster... Asia included, and when this deal is sealed they will have a valid and prominent reference point in the region...!

Robbo, i agree, now is better time to buy than sell, patience and foresight leave me feeling comfortable as the darkest days are over for IT&E and in twelve months, those selling today will be regretful!

OneUp, surprised that you lost yr cool with ITE today? No dramas in the announcement, you seem switched on and surely know that a fast growing business often runs a deficit in their formative years - particularly in this industry with massive fixed overheads from the outset. Important to remember that with ITE the hardest work has been done, the products have been developed from the ground up and further work will be less capital intensive becuase it is more enhancement than "ground-up" develoment. Their flagship product is becoming an INSDUSTRY STANDARD and they are know throwing money at building a strong sales / account management / business development team, as a shareholder I would be (and am) comfortable with that, expecially taking a LONG TERM view . The operational and reputational momentum is ABSOLUTELY THERE and difficult to deny, even from the most cynical perspective. Perhaps it will be two years before all the planets truly align in the way that sends a strong wakeup call but when it does will you be able to buy sub $35 mil market cap, no i doubt a piece of the action will be available sub $90 mil by then.

Thirdly, anyone still reading this post, I have some thoughts on CONSULTANCY related aspects of the announcement:

The significance of ITE broadening their reach and moving vertically down/up the supply chain by purchasing, expanding and increasing their ties/presence with their relevant industry CONSULTANCY firm(s) was VERY SALIENT STIMULI imo for the following reason: I work as a Market Analyst for a large multi-national company, we are currently in the process of implementing software called COGNOS (COGNOS is a listed sotware company from Canada i believe but inroads globally). As market analyst i am also the super-user for the new business intelligence tools and have been involved at every step of the way from conceptualising what we need to what software we will select. Along the way I have had numerous discussions with all stakeholders and gleaned an insight into how the decision making process ocurred at the top of the food chain (aove my head) with ITE and ISS in the back of my mind: this is what I learned by way of an ITE relevant example:

STEP 1:

ORGANISATION A (E.G. TIER 1 BANK) NEEDS NEW TECHNOLOGY TO DO THEIR JOB BETTER AND TO COMPLY WITH EVER CHANGING REGULATORY DEMANDS.

WHAT DO THEY DO?

FIRST PORT OF CALL IS THE THE CONSULTANT..!!!

THE CONSULTANT CONSUMES A GREAT DEAL OF TIME

Flying Goat
20-10-2006, 11:14 PM
Hi gjc

With regards to your post above, just wanted to say: excellent post and ditto to all the things that you expressed, in much more clear and succint manner than mine :) which incidentally is just below yours because I must have been writing at the same time....!

Cheers
Flying Goat

OneUp
20-10-2006, 11:35 PM
quote:Originally posted by gjc
In spite of all these costs, they still managed a result in the black for their Jun 06 figures and may yet do the same to Dec 06.


No IT&e lost $0.64m for FY06 under the current accounting standards, AIFRS.

The $0.1m "profit" was under the old GAAP system which did not allow for the expense of issuing options to executives.

So IT&e could lose $0.2m for FY07, or so, and still claim to have posted an improvement in profitability.

(BTW: someone suggested that IT&e management were upfront and candid, but headlining their FY06 results "delivers operating profit" when infact under current accounting rules they did not - hardly qualifies as being upfront and honest!)

I would have much preferred no market update, and taken a reasonable short term profit from the British funds continuing to buy up ahead of the AIM listing. May still happen, but downside risk too great for me now.

Good luck to holders.

gjc
20-10-2006, 11:36 PM
Flying Goat,

Thanks for the kind words and for the great post, it is an interesting read and in no way long-winded or boring. Great stuff, really!

Particularly liked your comments about consultants. This was one area of today's announcement that I did not touch on, but a phenomenom that I know only too well. In my game if you want to have any chance of selling your products to high-end or large-scale customers you must first sell your products to the ubiquitous consultants who are advising the customers what they should be buying. Good pick up!

Regards, GJC.

gjc
20-10-2006, 11:56 PM
Originally posted by OneUp:

Quote:

No IT&e lost $0.64m for FY06 under the current accounting standards, AIFRS.

The $0.1m "profit" was under the old GAAP system which did not allow for the expense of issuing options to executives.

So IT&e could lose $0.2m for FY07, or so, and still claim to have posted an improvement in profitability.

(BTW: someone suggested that IT&e management were upfront and candid, but headlining their FY06 results "delivers operating profit" when infact under current accounting rules they did not - hardly qualifies as being upfront and honest!)

I would have much preferred no market update, and taken a reasonable short term profit from the British funds continuing to buy up ahead of the AIM listing. May still happen, but downside risk too great for me now.

Good luck to holders.


Dear OneUp,

Fair enough point we ITE's FY06 profit.

Do you accept, however, that ITE's profitability in recent years has been driven down by structuring and expansion costs, and that as these costs now wind down and sales revenues continue to climb, then ITE's profitability will surely increase? Or do you see some barrier to their future profitability that I'm missing? Also, does cash in the bank and zero debt in spite of ITE's lack of profitability in recent years count for anything in your book?

Not trying to sound smart here, so I hope this post doesn't read that way, just hoping to further the discussion and welcome your further thoughts, thanks.

All the best, GJC.

OneUp
21-10-2006, 12:17 AM
Most software companies - especially loss making ones - have low debt. (It's the nature of the business that it has few tangible assets over which to get bank loans and the costs of financial distress are high - i.e. all its talented software architects walking out the door). IT&e have raised their cash from outside sources (notably UXC) rather than generated them internally so I fail to see why this is a plus.

As for future profitability, I'm not interested in anything beyond the current financial year, and in IT&e's case I'm concerned about the half year result. The bottom line is that IT&e have delivered what I interpret as a profit warning.

If IT&e start to deliver material profits and is set for stratospheric growth into the future, then there will be plenty of time to get in and make a killing. I look forward to the promised update at the November AGM.

gjc
21-10-2006, 03:33 AM
Thanks for your further thoughts, OneUp, all good grist for the mill. I guess I just don't read ITE's current situation as being as potentially dire as you do. On further study, I still feel very up-beat on ITE.

Trying to stop myself from looking at the future for moment as you suggest, and instead examining the past, I just don't see today's announcement as a negative. Rather I view it as a confirmation that the board's plans for the company are well and truly on track.

By Nov 2000 ITE's SP had fallen from over $1.00 to below $0.20. The new incoming board at that time took drastic but necessary steps to address this situation over the coming year by deciding to off-load or wind-up the unprofitable segments of the business, particularly the manufacturing and distribution arms of the company.

After a naturally painful result in FY01 ITE returned to profitability in FY02 as an IT "services only" company and the SP bleeding was stabilised around the $0.10 mark.

With an eye on the future and wanting to grow long-term SH value, the board embarked on further restructuring to turn ITE into the premier IT "product and services" company for the financial services industry globally.

Debt was retired, further non-core arms of the business were divested, and the expensive program of expansion, acquistion and product development outlined in previous posts was undertaken over the past four years.

During this period the SP initially responded to the restructuring plans well, trading in the $0.20 to $0.40 range through 03/04/05 until understandable (but not entirely justifiable imo) concerns about the profitability of the company saw investors take their eyes off the long-term plans of the board and the SP waned through 05/06 to $0.10 and lower.

I firmly believe that the board's strategy, and implementation thereof, has been right on since Nov 00. Further, I believe that the worst of the restructuring financial pain is over, and that a return to profitability is therefore imminent. I am also of the belief that the board has put the necessary steps in place to secure increased and on-going sales and service revenue, as outlined in the announcement and discussed in this forum.

Accordingly, I feel the time is right for a serious and sustained upward re-rating of ITE's SP over the coming weeks, months and years.

Just my two cents worth, of course, and I welcome your (our anyone else's) further comments.

Regards, GJC.

treadcarefully
21-10-2006, 03:57 AM
Great posts all (Tommy,Robbo,ohmyme,oneup,gjc,Goatie,Flemo) keep up the good work.

I do agree with you all that this was a great update today and I'm sure this company will go places.
[8D]

However I did feel that I was back in the SEN way of updating the market today when it came to the "Almost profit warning".:(

ITE stated the following -"The Board is confident of delivering increased profitability for the full financial year as previously announced. For the half year to 31 December, the Company may not be operationally profitable given the long sales cycles being experienced, business development costs associated with the new opportupolicies concerning revenue recognition.[u]</u>

If we analyse the sentence and the following words in particular "may not be", one needs to ask why is this so!!!!![8)]

This doesn't from my understanding mean a profit warning as they usually know to a % decrease this certainly isn't the case here. My belief is that this statement should have been left out until there was more certainty around the half year result.
I can't help but think that this was stated to either cool the share price for some reason.
I'II need to think more on this. Maybe I'm barking up the wrong tree however when these statements are made they are usually made for a reason!!!!!!

Anyway have a good weekend.
Cheers
TC

tommy
21-10-2006, 05:12 AM
Hi all,

Some good healthy discussion going on here between highly respected posters here, always good to see a balanced debate to get an objective view of a company's positioning. Let me get on the bandwagon and throw in my few cents worth. I myself NEVER invest in a company with a long term perspective, especially in techs: I only invest with a short/medium term time frame because tech sector is way too fast-changing to make long-term assumptions.

In the case of ITE, the only long-term assumption is that BASEL II is gonna kick in and financial institutions are gonna have to adapt to it by 2008. That is the only thing in favor of ITE that operates in the risk management market of the financial sector, where there is solid demand for its solutions (and similar solutions offered by competitors) from among financial institutions scrambling to meet the new BASEL II capital adequacy requirements.

So, at least we know there IS a big market globally for ITE i.e. it's in the right market at the right time (pre-BASEL II finance sector).

Will it be able to snatch a big piece of that big pie?

Well that depends on ITE's product offering and management. This is where we have to conduct some short/medium-term analyses.

As far as past performance is concerned, we should be able to agree on the fact that:
- ITE made a loss for years. Awful, really!
- ITE streamlined and invested heavily into product development by focusing on limited products.
- ITE's revenue did increase last year.

This is the current status of ITE:
- ITE has quite a few impressive customers in its clientele list.
- ITE is claimed to have one of the best products (Razor) in the industry.
- ITE is working hard to market is products overseas, especially in US and Europe.
- ITE is an unknown company on an international scale and has to face competition from much more well known brands.

This is the inevitable nature of ITE's business:
- Contract timing will affect cash flows ("revenue lumpiness").

I won't get into the "undelivered promises" or "potential of winning new clients and winning contracts", etc. because if we start doing that, ITE's share price might as well be one dollar[}:)]

From my point of view, there is a lot of POTENTIAL in this company, and that really is enough for me at this price level. Not many people have bought into this stock knowing what kind of market it is operating in, and few people understand that often techs go up SIMPLY BECAUSE OF SPECULATION i.e. hype. Come on, there is NO guarantee in any of the projections or forecasts made by the management based on past performance! If there is no announcement of contracts by ITE, then share price will plummet no doubt. But if there is one, it will skyrocket. Simple as that: high risk, high return. (I do not apply margin of safety concept to techs...)

I think IMHO that in the coming months, there is enough room to exploit market sentiment created by lazy analysts/traders who just realized they might be missing out on the stock/industry because they read about it in Sydney Morning Herald!

I might sound cynical but that's only because I will drop any stock like a hot potato if I find out that there is a better deal elsewhere... time is money, opportunity cost is real, and new knowledge should always be applied to reevaluate one's portfolio.

And don't forget, ITE rarely attaches any dollar figures to the contracts it has won, which does leave a question mark over disclosure obligations.

____

PS Thanks ohmyme and flying goat for pointing out capco, I like it a lot! Their website is terrible in structure though... they should pay someone to sort our the navigation! Anyway, here we go:


Capco profile:
http://www.capco.com/general.aspx?id=938
Capco fact sheet
Key milestones

1998 - 1999
* Incorporation of The Capital Markets Company NV in July 1998
* Open offices in Belgium, London, New York, and Frankfurt

2000
* Open offices in Paris, San Francisco, and Singapore

2001
* Rebrand as “Capco” to reflect expanding ca

OneUp
21-10-2006, 01:15 PM
quote:Originally posted by davidrob
That is WHY ite has been so successful--winning more than 80% of the tenders; it puts in for to date...


Have been in contact with IT&e and they refused to disclose their win rate as being "inappropriate".

I must have been talking to the wrong guy.

robbo
23-10-2006, 11:00 AM
it&e (ITE)

Hi and a Very good Morning to all,

What a refreshingly insightful set of posts we are now recevieing on this it&e (ITE) thread.

Many thanks to you all.

The last few posts by Flying Goag and gjc, were also; imo-- terrific 'added value' to the (ITE) thread, and were particularly thoughtful.

Thanks folks.....

Two (2) fresh quick points.

On 4th of this month,)--October (2006)-- I made the following prediction.

--re, what I reckon is feasible for the it&e (ITE) Share Price ... immediately going forward......

(1) End of October(2006) – it&e between: 17.5 cents and 19.5 cents.

(2) End of November (2006) – it&e between: 24 cents and 25.5 cents.

(3) End of December (2006) -- it&e between: 29 cents – and 33.5 + cents.

Well, we have alrady now (this month)-- last week-- hit 19.5 cents as of this month - October --- and now -- with this latest Market Up Date-- and the amount of new short listed Tenders :) that it&e (ITE) have been selected for-- [^]:)as articulated in Friday's-- Market Update-- I would say we are well ahead of schedule.

So then: Here now; is here is my revised (ITE) Share Price forecast.....for (ITE).

Simple really,.... I would now say; it&e (ITE)-- imo-- will hit--

and stay approx at: 35-36 cents--by the end of November-- (one month EARLIER & 2 cents higher ) and not the previous guestiamate of December --as previously predicted....;)[8D]

Will give my reasonings more throughout the day. The key one--is the probability of this company being much more a dominant successful player is now greatly enhanced, now having digested and read the Market DUpdate.

Will put more 'flesh on the bone' however ; as promised.

Finaly---thought I would just remind us, of what gjc said on the weekend. This was, imo an Excellent post gjc ....!![^]:)

[quote]quote:Originally posted by gjc


Dear all,

Re ITE announcement today, I have to say that I agree with the bulk of the sentiment expressed already today here at ST that it was a very positive announcement. ITE are about four years into a committed five year plan to reposition itself as a premier player in the global financial services IT market.

Considerable time and effort has been spent developing new products and improving existing ones. In the software engineering game this is very expensive to do, and for the type of software ITE develop, it is extremely expensive.

ITE have also spent money on strategic acquisitions of firms such as NextSet and TMS to broaden their product base and software engineering capabilities. Again expensive exercises.

ITE have expanded staff (including the key appointments of Ralph Pickering and Greg Meekings) and opened new offices, both here in Australia and in Asia, Europe and the US, again at great cost.

And whilst a good portion of these restructuring and repositioning costs have come from capital raisings in 2003 and 2004, the bulk of these expenses have come straight off the bottom line of the company, particularly in recent years.

In spite of all these costs, they still managed a result in the black for their Jun 06 figures and may yet do the same to Dec 06. For those out there that are concerned that ITE have not been profitable

robbo
23-10-2006, 11:38 AM
it&e (ITE)

Brokers playing their mind games on the Depth again this morning....

They are trying to re calibrate (short term) the price-- as they have stacked the "ask"--sell side of the depth in the 20+ range-- to the blazes !!

We.... however; ...... will not be fooled ! :)

That 16.5 cents --'match out'-- 'yeah right' -- on the opening Bid/Ask-- -..... errrrr.... at exactly [}:)]-;)- 100 000 shares, on either side-- could be a bit 'cute'; if it was not sooooo silly & obvious though -- I am so suprised and... soooo...
shocked [:0].... 'not'-- ;) ---[8D]

This share; it&e--(ITE)-- on the most conservative of my valuation models---- is realistically now worth at a bare minumum -- &gt;&gt; than..&gt;&gt;-- 36c -38c ++ cents ...now imo.... and that is just for now ....

Suggestion: Do Go to the it&e website-- and do a 3 minute 'free demontration' on it&e's Monarque or Razor products-- and tel me what YOU think.

Kindest Regards,

Robbo :)

ohmyme
23-10-2006, 02:49 PM
Sorry Tommy,

I disagree about your statement that ITE is high risk high reward play. If you want high risk high reward Tommy; go dabble in the mining sector.

I am sorry but we are on completely different pages here.

Disclosure of contract prices does not concern me after all we are dealing with banks here Tommy. Privacy and non-disclosure go hand in hand with them.

I am not sure what your experience is with Software companies, but I have worked in many and still do, and my experience tells me that it gets easier; not harder the more contracts you win and the more highly credible reference sites you build. (Obviously the quality of your product and systems in place help as well.)

Last time I checked ITE had a pretty impressive reference site; on three (3) continents.

Some people may think that the time it takes and long sales cycles involved in these sorts of contracts is a negative….

I actually see it as a positive, as it means that once ITE have their foot in the door the banks are committed to them for the long haul, and this acts as a High Barrier to Entry…… to other players in the sector.

It is this reason Tommy; which I believe will lead ITE to eventually commanding superior PE multiples.

Tommy, what I see developing before us can be likened to a symbiotic mutually beneficial relationship.

As ITE's products become increasingly entrenched throughout the banks operations, the Quality and Utility of their products will continue evolving. This means as time goes by the banks reliance on ITE is only going to grow.

This isn’t like some non-critical convenient side application that the bank can change at a whim.

This is a core profit maximizing regulatory required utility.

ITE’s footprint is spreading across the globe. The more clients they have the faster they will grow. And the great thing is, ITE doesn’t just grow horizontally across organizations, it can grow vertically as well, as each existing client offers ITE the potential to sell its other products – (this is evidenced through the likes of ANZ which has signed up for both PTX and Razar).

cheers.

tommy
23-10-2006, 04:15 PM
Hi ohmyme,

Good post there mate, appreciate your opinion[:I]


quote:Originally posted by ohmyme


Disclosure of contract prices does not concern me after all we are dealing with banks here Tommy. Privacy and non-disclosure go hand in hand with them.

mmm, don't financial institutions ever allow contract figures to be released?
I just can't ASSUME that ITE is securing healthy profit margins and are good at cost management on large scale projects that extend over years because I have't seen that happen yet.


quote:Originally posted by ohmyme


I am not sure what your experience is with Software companies, but I have worked in many and still do, and my experience tells me that it gets easier; not harder the more contracts you win and the more highly credible reference sites you build. (Obviously the quality of your product and systems in place help as well.)

I admit I'm no software specialist... but just love investing and making money from techs by exploiting market sentiment[}:)] e.g. made a killing on SEN, ENG, FRE, EMI, etc. (thanx robbo!)
Winning more contracts obviously is a must, but in order for a company to become profitable, good management is the key. Looking at past performance, ITE still has yet to prove itself, that's all I meant to say. ITE is in the growth/expansion phase, and whether or not ITE can successfully undertake many large scale projects across the globe is yet to be seen. I don't doubt that ITE's sales will increase in the future, it's just that it has no history of increasing shareholder value continuously through profitability growth, that's what I meant by "high risk" (by my standards, anyway... perhaps my risk tolerance is too low?!)


quote:Originally posted by ohmyme


Some people may think that the time it takes and long sales cycles involved in these sorts of contracts is a negative….
I actually see it as a positive, as it means that once ITE have their foot in the door the banks are committed to them for the long haul, and this acts as a High Barrier to Entry…… to other players in the sector.

Yes, there is that element I must admit. But remember, cash flow is the lifeblood of any company... I hate dilution of shareholder value through issue of shares!! If they run out of cash mid-year, how are they going to finance their operations? Turn to UXC? Borrow from a bank?
Also, I'm not a strong believer of barriers to entry in the long run unless the company has some proprietary technology that other's can't imitate or is protected by regulations or patents (or unless you are IBM!) Once ITE does get its foot in the door, things will certainly get easier, but ITE first has to show its customers that it is better than those that are already in that door. Larger organizations tend to be more conservative and cautious of new/smaller companies that are less known, which is the challenge for ITE.

[quote]quote:Originally posted by ohmyme


As ITE's products become increasingly entrenched throughout the banks operations, the Quality and Utility of their products will continue evolving. This means as time goes by the banks reliance on ITE is only going to grow.

This isn’t like some non-critical convenient side application that the bank can change at a whim.

This is a core profit maximizing regulatory required utility.

robbo
23-10-2006, 05:40 PM
it&e (ITE).

Hey Tommy,

Great post Tommy -:)-....

The cash flow/ebita profit now-- discussion-- --and ...
Please demonstrate a 'in the black EBITA Now' -- at all costs-- Versus ---seizing global growth asap-- is a perennial discussion point-- with Investors and Venture Capitalists--and with all those who are intrigued with entrepreneurialism generally....

Worth throwing around more-- and I am sure, we all enjoy to do so ... !!

This 'push & pu;;'-- is Always a interesting 'creative tension'-- ! :)

Obvious to me from The Market Update-- that; it&e are 'going for growth'-- and if this means they might not be able to meeet the accounting deadlines -- then so be it .....:)

I am not at all worried Tommy, about their 'cash burn' versus it&e's (ITE)steadilly increasing incoming-- Revenue & Sales inflows (latest increase by 57%)-- and I suspect this year will be about 120% increase on that--namely arund 170%--and the evidence we have now goty in The Market Update-- points to that number-- will document the logic behind this statement clearly and specifically in next 48 hours... -- so imo-- chill out on 'that score' though Tommy....:)

However Tommy, this quote.... from your good self; :)--in your last post, did intrigue me..... a little bit .....[?][?]:


"Once ITE does get its foot in the door, things will certainly get easier, but ITE first has to show its customers that it is better than those that are already in that door. Larger organizations tend to be more conservative and cautious of new/smaller companies that are less known, which is the challenge for ITE....."

Tommy, name me .....say 2 or 3 other Software Companies.... (with a market cap under $40 millions) on the ASX that have their...

...."foot in the door"....

to the extent it& e have....already,,......

their.... "foot in the door"....;):)

I mean someone the other day, had the temerity to compare it&e with BQT (on the basis of Blue Chip Clients)-- and Revenues-- !!---for goodness sake !!

To me, it&e (ITE) have already demostrated a "foot in the door"-- as some of their listed major Blue Chip Clients from around the Globe: listed below:--

Commonwealth Bank (CBA),

National Australia Bank (NAB),

Westpac (WBC),

HSBC (Hong Kong Bank) ,

Fortis,

Bankers Trust,

Bears Stern Bank (USA) ,

Macquarie Bank,

Chicago Mercantile Exchange (Worlds largest Commodity Stock Exchange),

SunCorp,

KBC Bank (Europe--Belgium),

Zivnostekska--Gernmany & Swizerland)--Bank,

Brown Bros Harriman Bank in UK and USA,

Penison France --Insurance, Superannuation and Banking,

Post Bank Germany/Europe,

BT Financial Group --United Kingdom,

Australian Stock Exchange (ASX),

ANZ Bank,

.....And .....all of the other ....Blue Chip Banks, and Blue Chip financial Institutions who have requested confidentiality--see it@e recent ASX announcements .....--

-- As well as other Blue Chip Banks and Financial instos in the Multi national Blue Chip Client Pipe line...[:p]:)

All this, imo, is rather not bad going, in the...

'foot in the door 'department'....., in my view.... [|)] :)

Kindest Regards,

Robbo :)...

DISCLAIMER
Views expressed in this email and/or internet correspondences, are my tentative thoughts and opinions only. These views are not to be read as being, or forming…. any form of a recommendation; of any sort whatsoever. Rather, they just simply personal opinions, and are NOT financial advice. Furthermore, these views are unwarranted and ought not to be read, as other than personal opinion and speculations, and are not warranted in any way whatsoever, either expressed or implied, for their accuracy, veracity, or likely predictive outcome. Furt

tommy
23-10-2006, 06:24 PM
Hi robbo, good post mate[:I]

err, let me rephrase myself in regards to what I meant by that "foot in da door" statement, I did not dispute that ITE has made inroads into large financial institutions.

All I meant was that ITE has more work to do compared to other long-established, bigger companies that probably have existing contracts with potential clients of ITE, because simply ITE does not have that international reputation or brand power yet. It's a newbie, and da new kid on the block's products have to outperform those of existing well-known companies in order to win contracts (equivalent performance isn't good enough!) So far, ITE has been doing a good job though[:I]

As for other software companies with market cap under $40 million on the ASX that have their "foot in the door" with multinational companies are...mmm, must admit I can't find any under 40 million apart from ISS. Otherwise, I won't be investing in ITE!!!

Flying Goat
23-10-2006, 09:33 PM
quote:Originally posted by steve fleming

....just what sort of $$$'s is each client worth to ITE??.... it is all very well having these high profile clients, but if the market is competitive etc or whatever and ITE is struggling with margins, they are in most cases better off without them...



Hi Team,

Firstly, steve flemming, I have been pondering the above question that you posed to Robbo last week, and have observed and considered posts today from ohmyme, tommy and Robbo that both directly and indirectly touch on that very same, and very valid and relevant question.

Spending time looking over the information that we have available, in an effort to better understand the facts led me to the points below that imo highlight the actual upside that exists from the fact that ITE have yet to REALLY monetize most of their existing relationships:

1) We are only seeing AUSTRALIAN revenue so far...!

- Please take a moment to check out page 39, Note 3 to the Financial Report for Yr ending 30 June 2006: Basically this is a segmental breakdown of the profit and loss statement. It is here that we learn that of the $15m revenue for the year ending 2006 $14m was generated in Australia! Furthermore, less that $7m of that revenue was generated by product sales! Meanwhile, many of the costs incurred during the same period have been for fortifying internationals sales activities.

(The sub-conclusion here, is that with regards to the FY06 result what we are basically looking at revenue, that is just a fraction of the potential, highly probable future product related revenue, combined (due to timing and accounting standards) with costs that relate to the successful building of the internationa sales channels). With light on this it becomes more clear to me that margins are not and will not be an issue.

I believe that by full year results as at June 2007 we will see that the underlying profit margin is infact very high and that the lack of profitability we are currently looking at is simply the product of the scenario above: yesterdays sales revenue less tomorrows expenses.


Australia is the only region in which ITE have had sufficient time to devlop relationships that enable them penetrate existing accounts with a wider range of products. This has demonstrated their ability to do this and I do not see why they would not be capable of doing the same abroad. Which leads me to the next region...

2) Yet to scratch the surface in AMERICA yet...!!!

It is necessary to revisit an excellent comment by ohmyme earlier today when he stated that ITE have orgnanic growth prospects both vertical and horizontal once their "feet are in the door" - and also keeping in the back of our minds the key customers with which ITE has working relations in America, as Robbo has reminded us. Now, the relevance of these big fellas, like the Chicago Merchantile Exchange and its new MASSIVE merged entity is that ITE does not yet sell them their core products, infact they are only using the Monarque product for their treasury management hence the absence of significant revenue being generated from this segment.

However, reading and re-reading all the information available and trying to join the dots, the strategy becomes more evident. Please let me deviate on a necessary tangent for a moment with a quote from latest market update: "The architecture of the new version of Monarque will be shared with that of the company's existing PTX product to provide a co-prdinated approach to IT&E's trading products suite."

Clear as mud?? Just imagine you are the IS Manager for Chicago Mer Exchange, you meet regularly with ITE for support etc on Monarque system and he highlights the value of having other functions done on ITE software such as PTX which operates with same architecture... my point is that, imo, sitting face to face and having a relati

tommy
24-10-2006, 02:54 AM
Excellent post Flying Goat mate, appreciate you sharing your analysis with us. Also thanx for correcting me on the "tier one Asian bank" contract in da works!

I personally think half of our questions/suspicions/gut feelings/expectations regarding ITE will be not be answered until FY2007 results are out. In the meantime, let's all enjoy the ride (turbulence!)

ITE is a company in its growth/expansion stage, there are as many companies that have "flopped" as those that have succeeded in expanding into the global market. Having a good product ain't a guarantee of success, it requires disciplined management with a clear vision to make a company grow without sacrificing shareholder value.

I will be extremely interested in how ITE management will explain their positioning regarding the recent announcement (possibility of not breaking even in first half) at the AGM. As long as we (shareholders) are informed of the company's operational strategies/objectives and the progress status, first-half losses are irrelevant, at least at this early a stage. If ITE fails to announce any contracts/alliances or get listed on London AIM within the next 8 months, I will definitely kiss ITE goodbye[:o)] but otherwise, ITE's potential is truly massive. No wonder UXC increased its stake a while ago.

TheBossMan
24-10-2006, 06:39 AM
Question 1:
Quote: "1) We are only seeing AUSTRALIAN revenue so far...!". and "$14m out of $15m was generated from AUS sales".

If this is the case, why is it that ITE could only generate $1m out of all these clients overseas?
List quoted from davidrob: 23/10 6:40 - Bears Stern Bank USA),Macquarie Bank, Chicago Mercantile Exchange, KBC Bank,Zivnostekska--Gernmany & Swizerland)--Bank,
Brown Bros Harriman Bank in UK and USA, Penison France --Insurance, Superannuation and Banking, Post Bank Germany/Europe,BT Financial Group --United Kingdom)

Question 2: is the firm unable to acquire repeat business from the blue chip clients, and if so, why not?

Q 3: Does ITE have support staff in these countries to trouble-shoot product-faults? If so, what is their billable time/ratios?

Q4: You may find that resolution of product faults are carried out of Chennai considering the savings in labour costs, timezone difference etc.). does this add value to ITE or actually seen as a negative aspect in acquiring contracts?

Q5: To my knowledge, all these overseas countries have different regulatory framework. To what extent are ITE's products generic to function in any of these markets? In other words, does ITE have to customise their product every time they implement it in an overseas firm? If so, this may put off some potential clients, especially in light of the lead time to do these, additional costs, locked-in to supplier etc.

Q6: If ITE has only $4m cash left, and its revenues are lumpy in nature, how soon does it run out of cash, if it cannot acquire any further contacts for a while? (4 months? 6 months?). I'm guessing the firm can hardly cut costs to survive (except suspending new product development), so it needs more contracts sooner rather than later?

Q7: What are the key growth and profitability drivers of ITE?

Disc: Held some. Awaiting next announcement/results. In my view, there is no urgency to buy.

robbo
24-10-2006, 12:02 PM
Hi The Boss,

I really love your name 'The Boss'... are you 'The Boss' at work, at home or 'The Boss'.... in other contexts....?!

Anyway, I really do like your style Boss, ....assertive and questioning... this is very welcome, Boss....:)

Boss, just quick note on your first two (2) questions:

Answer (q.1).Out of Europe (London Office), India and the USA, there was:

$5 733,000 Revenue-- (that is,Revenue of AUD -$5.733 Millions of dollars)-- for this latest 2006 Reported Period. (Source.Annual Financial Report--and also Preliminary Financial Report- page.9 of that document-- see ASX announcements ).

Answer to Question 2.

(1) Already renewed contract with ANZ Bank for perpetuity...

(ii)Finalizing renewals with other EXISITNG cliens now-- See Market UpDate--released last Friday.

(iii)-- Other Clients are to new and fresh--Razor for example was only released to the Market in 2004-- 2 years ago Boss--so steady on, Boss !!-- .. Most of the Bank and Exchange Contracts are for an initial 2 or 3 years....)..

Will answer all other questions today.

Finally-- yes there is ....definite urgency... Boss, to get in to it&e now (ITE), imo, -- as when one of these 23 New Sales and Marketing Pipleline Items pops, the AuIM lising commneces in November, the Corporate PResentation takes place in November, or a larger buyer wades back in-- will all act to double ++ this current undervalued share price.

Kindest Regards Boss ....and thanks for your excellent questions...

Kindest Regards,

Robbo :)

--------------------------------------------------------------------






quote:Originally posted by TheBoss

Question 1:
Quote: "1) We are only seeing AUSTRALIAN revenue so far...!". and "$14m out of $15m was generated from AUS sales".

If this is the case, why is it that ITE could only generate $1m out of all these clients overseas?
List quoted from davidrob: 23/10 6:40 - Bears Stern Bank USA),Macquarie Bank, Chicago Mercantile Exchange, KBC Bank,Zivnostekska--Gernmany & Swizerland)--Bank,
Brown Bros Harriman Bank in UK and USA, Penison France --Insurance, Superannuation and Banking, Post Bank Germany/Europe,BT Financial Group --United Kingdom)

Question 2: is the firm unable to acquire repeat business from the blue chip clients, and if so, why not?

Q 3: Does ITE have support staff in these countries to trouble-shoot product-faults? If so, what is their billable time/ratios?

Q4: You may find that resolution of product faults are carried out of Chennai considering the savings in labour costs, timezone difference etc.). does this add value to ITE or actually seen as a negative aspect in acquiring contracts?

Q5: To my knowledge, all these overseas countries have different regulatory framework. To what extent are ITE's products generic to function in any of these markets? In other words, does ITE have to customise their product every time they implement it in an overseas firm? If so, this may put off some potential clients, especially in light of the lead time to do these, additional costs, locked-in to supplier etc.

Q6: If ITE has only $4m cash left, and its revenues are lumpy in nature, how soon does it run out of cash, if it cannot acquire any further contacts for a while? (4 months? 6 months?). I'm guessing the firm can hardly cut costs to survive (except suspending new product development), so it needs more contracts sooner rather than later?

Q7: What are the key growth and profitability drivers of ITE?

Disc: Held some. Awaiting next announcement/results. In my view, there is no urgency to buy.

ONTHENOSE
24-10-2006, 01:46 PM
Another slow day for ITE...... :(

robbo
24-10-2006, 02:27 PM
[quote]quote:Originally posted by TheBoss

Question 1:
Quote: "1) We are only seeing AUSTRALIAN revenue so far...!". and "$14m out of $15m was generated from AUS sales".

If this is the case, why is it that ITE could only generate $1m out of all these clients overseas?
List quoted from davidrob: 23/10 6:40 - Bears Stern Bank USA),Macquarie Bank, Chicago Mercantile Exchange, KBC Bank,Zivnostekska--Gernmany & Swizerland)--Bank,
Brown Bros Harriman Bank in UK and USA, Penison France --Insurance, Superannuation and Banking, Post Bank Germany/Europe,BT Financial Group --United Kingdom)


Answer (q.1).

Out of Europe (London Office), India and the USA, there was:
$5 733,000 Revenue (that is: AUD $ 5.73 millions dollars)-- for this latest (ITE) 2006 Reported Period.

ie: $5.733 AUD millions dollars for:-- "these clients overseas?"-- which you make mention of Boss, in your post, and not the mere $1 millions to which you refer.... :)[/b]

(Source.Annual Financial Report--and also Preliminary Financial Report- page.9 of that document-- see ASX announcements )....


Question 2: is the firm unable to acquire repeat business from the blue chip clients, and if so, why not?

Answer to Question 2.

(i) Already renewed contract with ANZ Bank for perpetuity...

(ii)Finalizing renewals with other EXISITNG cliens now-- See Market UpDate--released last Friday.

(iii)-- Other Clients are to new and fresh--Razor for example was only released to the Market in 2004-- 2 years ago Boss--so steady on, Boss !!-- .. Most of the Bank and Exchange Contracts are for an initial 2 or 3 years....).....


Q 3: Does ITE have support staff in these countries to trouble-shoot product-faults? If so, what is their billable time/ratios?

Answer to Q 3. :

Boss, I think, that altough this is a good question imo-- you are now getting into 'operational detail'-- which is excellent-- but an outside investor; would rarely,.... I presume[?], know this level of detail-- so.... will Take this excellent question on notice Boss, (and ask it at AGM in November Boss,:))--

Q4: You may find that resolution of product faults are carried out of Chennai considering the savings in labour costs, timezone difference etc.). does this add value to ITE or actually seen as a negative aspect in acquiring contracts?

Answer: Boss, I think, that altough this is a good question imo-- you are now getting into 'operational detail'-- which is excellent-- but an outside investor; would rarely,.... I presume[?], know this level of detail-- so.... will Take this excellent question on notice Boss, (and ask it at AGM in November Boss,:))--
Ditto as for Q.3

Q5: To my knowledge, all these overseas countries have different regulatory framework. To what extent are ITE's products generic to function in any of these markets? In other words, does ITE have to customise their product every time they implement it in an overseas firm? If so, this may put off some potential clients, especially in light of the lead time to do these, additional costs, locked-in to supplier etc.

Answer.

Have you read all the material re Basel 2 and Sarbanes Oxley--[?] in the USA ---on this (ITE) thread Boss...&gt;?? [?]

....... &gt;&gt;.. In terms of meeting the various Clients DIFFERENTY and unique configurable bespoke needs, and the various Potential Clients different configurability needs ---(see it&e Website on this ability to address the configurability issue--covered extensively tehre ---and also do the free Demosntration on the variouys products re c

robbo
24-10-2006, 02:41 PM
quote:Originally posted by TheBoss

Question 1:
Quote: "1) We are only seeing AUSTRALIAN revenue so far...!". and "$14m out of $15m was generated from AUS sales".

If this is the case, why is it that ITE could only generate $1m out of all these clients overseas?

Answer:

Out of Europe (London Office), India and the USA, there was in fact:
$5 733,000 Revenue (that is: AUD $ 5.73 millions dollars)-- for this latest (ITE) 2006 Reported Period.

ie: $5.733 AUD millions dollars for:-- "these clients overseas?"-- which you make mention of Boss, in your post, and not the mere $1 millions to which you refer.... :)[/b]


List quoted from davidrob: 23/10 6:40 - Bears Stern Bank USA),Macquarie Bank, Chicago Mercantile Exchange, KBC Bank,Zivnostekska--Gernmany & Swizerland)--Bank,
Brown Bros Harriman Bank in UK and USA, Penison France --Insurance, Superannuation and Banking, Post Bank Germany/Europe,BT Financial Group --United Kingdom)

Question 2: is the firm unable to acquire repeat business from the blue chip clients, and if so, why not?

Q 3: Does ITE have support staff in these countries to trouble-shoot product-faults? If so, what is their billable time/ratios?

Q4: You may find that resolution of product faults are carried out of Chennai considering the savings in labour costs, timezone difference etc.). does this add value to ITE or actually seen as a negative aspect in acquiring contracts?

Q5: To my knowledge, all these overseas countries have different regulatory framework. To what extent are ITE's products generic to function in any of these markets? In other words, does ITE have to customise their product every time they implement it in an overseas firm? If so, this may put off some potential clients, especially in light of the lead time to do these, additional costs, locked-in to supplier etc.

Q6: If ITE has only $4m cash left, and its revenues are lumpy in nature, how soon does it run out of cash, if it cannot acquire any further contacts for a while? (4 months? 6 months?). I'm guessing the firm can hardly cut costs to survive (except suspending new product development), so it needs more contracts sooner rather than later?

Q7: What are the key growth and profitability drivers of ITE?

Disc: Held some. Awaiting next announcement/results. In my view, there is no urgency to buy.

robbo
24-10-2006, 02:44 PM
quote:Originally posted by TheBoss

Question 1:
Quote: "1) We are only seeing AUSTRALIAN revenue so far...!". and "$14m out of $15m was generated from AUS sales".

If this is the case, why is it that ITE could only generate $1m out of all these clients overseas?

Answer...

Out of Europe Boss, (London Office), India and the USA, there was:
$5 733,000 Revenue (that is: AUD $ 5.73 millions dollars)-- for this latest (ITE) 2006 Reported Period.

ie: $5.733 AUD millions dollars for:-- "these clients overseas?"-- which you make mention of Boss, in your post, and not the mere $1 millions to which you refer.... :)[/b]

List quoted from davidrob: 23/10 6:40 - Bears Stern Bank USA),Macquarie Bank, Chicago Mercantile Exchange, KBC Bank,Zivnostekska--Gernmany & Swizerland)--Bank,
Brown Bros Harriman Bank in UK and USA, Penison France --Insurance, Superannuation and Banking, Post Bank Germany/Europe,BT Financial Group --United Kingdom)

Question 2: is the firm unable to acquire repeat business from the blue chip clients, and if so, why not?

Q 3: Does ITE have support staff in these countries to trouble-shoot product-faults? If so, what is their billable time/ratios?

Q4: You may find that resolution of product faults are carried out of Chennai considering the savings in labour costs, timezone difference etc.). does this add value to ITE or actually seen as a negative aspect in acquiring contracts?

Q5: To my knowledge, all these overseas countries have different regulatory framework. To what extent are ITE's products generic to function in any of these markets? In other words, does ITE have to customise their product every time they implement it in an overseas firm? If so, this may put off some potential clients, especially in light of the lead time to do these, additional costs, locked-in to supplier etc.

Q6: If ITE has only $4m cash left, and its revenues are lumpy in nature, how soon does it run out of cash, if it cannot acquire any further contacts for a while? (4 months? 6 months?). I'm guessing the firm can hardly cut costs to survive (except suspending new product development), so it needs more contracts sooner rather than later?

Q7: What are the key growth and profitability drivers of ITE?

Disc: Held some. Awaiting next announcement/results. In my view, there is no urgency to buy.

robbo
24-10-2006, 04:55 PM
Hi FG, Steve, ohyme, gjc, tommy, one up, boss, on the nose etc etc etc...

(1) Re: Steve's excellent querry .... Regarding, Waht exactly are it&e's:

Exisiting & Potential Client Contract Values [?]:

Tier One Bank or Financial Institutions:

Razor Licence Fee for 2 years is: $6,000,000 ($6m)- and Service & Implmentation fees annually is: $2,500,000.


For Tier One Banks & Financial Institutions...

PTX $2,500,000 (two year licence) and $550,000for Service & Implement Fees)

** Most Tier One Banks and Xchanges; do go with BOTH.

For Tier Two Banks and Financial Instos the following average fees apply:

Monarque

T2 Razor 2 year Licence: $ 1,000,000 and Service & Implment Fees are: $ 500,000 per annum.

PTX 2 year licence: $2,250,000 and Service and Implementation fees are: $750,000 per anum

Monarque Licence Fees are: $750,000 1 year and $400,000 per annum


Tier 3 Smaller Instos.

Razor or PTX ... both are each $400,000 each seperately for 2 year licence fees and annual service fees of: 150,000 per software suite.....


Ditto for: Monarque Licence Fee: $ 450,000 Licence Fee and
$ 150,000 service fees.

***** My Source for above Licence and Implementation & Maintenance Figures; was from it&e (ITE) official ASX Announcements.... (Year. 2005).

(2)

Hey FG, re your querry...

..... PS. hey Robbo, yeah saw the heavy sell side depth manipulation today also quite a decent volume of shares traded so guess someone picking them up at a more favourable price. Still, the buy side looked weak. By the way, would it be fair to assume that once the big buyers (insto) have their holding they will do the opposite, i.e. push the price up in order to accentuate the performance of their portfolio?....

My answer is as follows:

(1) Getting in to the stock, like (ITE) for instos; is much harder than getting out for instos...

.... Why so... ?[?]?

&gt;&gt;...&gt;&gt;... Mainly coz of the Market Cap..... ie: if getting in sub 20 cents -- is a market cap of $40 millions (and a bargain)-- and you have, (for example)-- 4 or 5 funds -- all wanting say betwen a holding of between $1.5 millions and $4 millions ..... IN THE STOCK in Question.... you obviously have limited available stock, for them to be able.... 'lay their hands on '...

So it will take time and 'Social Proof Psychological Persuasion...[}:)][:0]. ..

They have to.... basically, 'persuade' ;)--the smaller guys to give them their stocks....

.....Errrr... what do you mean .....[?].....

..... Robbo, by: the term, 'Social Proof Persuasion'...[?]

Well let us first, for example.... loook calmly.... at the Stock Structure .... in it&e(ITE) --for example--but the same could apply, imo, to any small cap under valued listed company.....

... Now we firstly, need to take into account with (ITE).... also the fact that UXC in this case have 13% of stock tied up--- in this case at 40 millions--m/cap- about 5.2 milions-- and then add (ITE) Directors have probably from memory, have another 23% of stock tied up ....that is another $8 millions-- and then sophisticated investors also, who know the VALUE of the intrinsic Enterprise Value of it&e (ITE) and will not sell for quids...... that may be another say 7% of available stock--

In this 'scenario'-- $17- $18 odd

Flying Goat
24-10-2006, 05:34 PM
quote:Originally posted by tommy

I personally think half of our questions/suspicions/gut feelings/expectations regarding ITE will be not be answered until FY2007 results are out. In the meantime, let's all enjoy the ride (turbulence!)


Thanks TOMMY!

I genuinely agree with you on that one, after all if there is one thing we CAN be sure of is that ultimately we cannot predict the future and therefore I do concede and agree there IS an element of risk involved, as you mentioned a while back...! Or as I read on a t-shirt in Prague a few months ago: "You can neverrun out of things that can go wrong..!!" Will still remain quietly optimistic though
:D

Cheers
Flying Goat

Flying Goat
24-10-2006, 05:56 PM
quote:Originally posted by davidrob




Boss, just quick note on your first two (2) questions:

Answer (q.1).Out of Europe (London Office), India and the USA, there was:

$5 733,000 Revenue-- (that is,Revenue of AUD -$5.733 Millions of dollars)-- for this latest 2006 Reported Period. (Source.Annual Financial Report--and also Preliminary Financial Report- page.9 of that document-- see ASX announcements ).



Hi TheBoss (see i'm not the only Bruce Springstein fan in this thread then:D), Robbo, steve flemming, and everyone..!

Firstly, it appears that I may have made an error in interpretation of the financial statements and have made a contradiction* in my last post - my sincere apologies for that [:I] - and thanks Robbo for pointing this out. Actually I was (and still am) confused re: the layout of the revenue statement in so much as it states total revenue of $19m (including the $14 mil from Australia and the $5 mil mentioned by Robbo, then it goes on to deduct the $4 mil of "intersegmental revenue" (presumably from the stated $5 mil.. in the intersegmental revenues) to leave the total reported revenue of $15 mil. It may be a case of me being a bit simple here but does anyone care to explain!?! My question being: why is the money from intersegmental revenues being shown, if it is then being eliminated? Is this "real"...???

Robbo, thanks for providing excellent detail on the pricing structure for the different products, I believe that was a much more objective, relevant and useful reply to steve flemming's original QUESTION than my shiraz-swilling willy nilly attempt at an explanation last night;)

TheBoss, thanks for the questions and the much needed devil's advocate line of thinking that I am sure will lead us all to opeing up new lines of thinking re: what could go worng and that is always good. I see that the much esteemed (effecient and energtic as always) Robbo has taken the liberty of responding and I dare say he is the more qualified than person than myself for this task. Never the less I will mull over the questions and consider them over the next week and if I can add anything I will be sure to...

Cheers
Flying Goat


*

PS before anyone bothers to point it out :D, I am aware that there was a contradiction in yesterday's post [:I] in the sense that the financial reports claim an NPAT of $1.4 mil out of europe, but at the same time are charging only $1 mil revenue out of that region (due to "intersegment elimination" of the revenue apportioned to it in intersegment sales) sounds complicated but check the statements for yourselves so that we are all on the same page.... basically a result of the same issue I raise at the start of this post...

ONTHENOSE
24-10-2006, 11:02 PM
Robbo,

Are you saying the current maket manipulation is not good for us investors???

Keep up the good work guys. appreciate all your time and efforts ;)




Mike

steve fleming
24-10-2006, 11:34 PM
Hi guys...Thanks for your response to my query, FG & Robbo,…it would be interesting to get a breakdown of ITE’s revenue (and costs) per client….certainly ITE has very impressive potential…....however whereas previously I would have jumped at an opportunity like ITE with bells on, now taking a far more disciplined approach when investing in 'turnarounds'..….and now adopt the ‘believe it when I see it” approach to turnaround spec companies turning decent profits, no matter how much potential.... maybe just getting older and more conservative!!



If you look at some of Robbo’s greatest turnaround spec picks – EMI, SEN, HWW, IPN – BY FAR the GREATEST share price appreciation came AFTER the company had displayed generally 2 years of solid profits….saw ASU mentioned before, it has been profitable past 2 years and now finally looks like it is being re-rated….. If a company has a track record of historical profits , it makes the market far more comfortable/confident in assessing future prospects and therefore re-rating to an appropriate forward multiple….the converse is also true in that promising specs with no record of historical profits get punished if things don’t progress as planned as inevitably happens…..as Tommy said, until guidance is given on FY07 and guidance is actually met, who really knows what the future has install? and accordingly market's confidence is going to be limited….another loss for HY07 will do ITE no favours in establishing markets confidence in it….and with a m/c of $35mil and no earnings, IMO it is already fairly priced...plenty of $30 mil companies making $3-4mil a year profit already..



If ITE is going to be as successful as people predict, and the comments made by Robbo, Tommy, FG and others certainly suggest it is definitely on the right track, any share price appreciation over the next few months is likely to be insignificant compared to the gains experienced once ITE is delivering solid profits year on year…..of course everyone has their own unique risk profile/different investment philosophies etc… guess that is why for every one selling ITE, someone else is buying

Cheers

TheBossMan
25-10-2006, 06:31 AM
Thanks davidrob for taking so much time to address these queries. And FG for clarifications.

Operational details are sometimes required to understand the inner workings of profitability drivers. If the product support staff are sitting in UK and they could only bill 20% of their time to existing customers, the remaining 80% would be chewed up in new product development, when the firm's strategy itself could be to suspend such activity. And worse yet, allow technical staff to do pre-sales talk in new markets.

In terms of Q7: "What are the key growth and profitability drivers of ITE?" - what I was looking for are:
7a. Growth drivers - more clients/more markets from a revenue perspective? And organic growth/acquisitions etc. from a firm size position.

7b) How is the company anticipated to grow and what is driving the growth? Does ITE have the ability to quickly bring in staff (given the niche product, which of course is my assumption), train them and provide high-quality implementation and support services to valuable clients?

7c) profitability drivers - the product is not off-the-shelf like MYOB (build once, sell million times), but is easily customisable to suit any overseas market. In such cases, the product would continuously be enhanced based on a key customer's requirements (new reports, tighter integration with backend systems etc.). The question though is, for each $1m ITE spends in enhancing the product, how much earnings will accrue year-on-year? Isn't that where the profitability would come from?

The name 'TheBoss' is to re-affirm that I'm the boss of my own mind.

robbo
25-10-2006, 01:38 PM
Hi .... Steve,

....hmmmm..&gt;&gt;&gt;-- Yes indeed, an Excellent & impressive post. As always.....[^]:)

Steve, a small point--which for me, is a big area of Study, research & focus with my own investing strategy-- is your quote:


....."..... If you look at some of Robbo’s greatest turnaround spec picks – EMI, SEN, HWW, IPN – BY FAR the GREATEST share price appreciation came AFTER the company had displayed generally 2 years of solid profits …....." ......

This Topic Steve, for me anyway !!-- -- is a biggie...:)

Analyzing where the juncture is, on the graph-- that ALSO, successfully combines....

.....A higher 'Margin of Safety'--- and, that can be well combined -- with what are factually and rationally assessable -- high probability logical outcomes; of -- 'where and when'-- to enter the -- 'Stock in Question'-- and, at what price, to achieve .....

.... --Out- Perfomance Capital Gains -- for one's overall personal profit Returns -- in the form of strong Capital Gains share price Rise and Appreciation -- from the actual low entry point Share Price, at which one enters the actual stock..... and eventually exits the actual stock. ...... to achieve a personally very profitable, satisfactory and excellent outcome ....

ie: 'Hockey Stick Style -- v. High Growth Returns' ...... is, imo Steve, ....probably -- when all is finally said and done; --
'part art'..... And .... 'part science'.....:):)

Here at the pub, I have reams of research on this Very point.:):)

So Steve, you have touched on something which really does resoundingly resonate :) !!

And, imo Steve, the 'devil is indeed... in the detail'....

And, imo, no 'one single model' -- fits all situations.....

Will just start Steve, in reply to your post, with say 5 quick succinct points.... :)

Specifically with the shares ...which Steve, you mentioned ...

(i)(IPN)-- entered... (and flagged, (here at Sharetrader)- when the IPN share price was: 3.3 cents on or about... around August to September 2004.... ///)-- ...

IPN -- share Price is now, between 20-22 cents range.

Interestingly IPN was still in the red, and the last 4 (six monthly) trading periods were in the EBITA red.

History shows, that I was 'lucky', and this was indeed, the best 'optimum time' (with benefit of Harry hindsight)-- to enter IPN.....

Specificaly, in the case of IPN, it was the interpretation & variant perception to the general market, of the 'global drivers'-- behind what was in store immediately ..&gt;&gt;&gt;--(going forward)--&gt;&gt;-- --IPN that were/was at the time, imo, 'the relevant catalyst' .....

(ii) Emitch -- (emi)-- Best entry point to maximize Time/Return-- -was when emitch(EMI) was 3-4 cents--...Sept 2003.

At this stage--the profit was a measly $ 126K--and the previous three consecutive half year periods were in the red.... and again if you had have got in six months later, when (EMI) share price had trippled to 10 cents-to 11 cents-- you only had that history plus only .... one other 'half' of: $500K ebita.

(iii)-- HWW was significantly lighter on the profit history than emitch was, -- with a mere 75K in ebita--with all previous periods, firmly, in the red.

(iv) -- Senetas (SEN) was the strongest of the four shares (there have been many others)-- which you cited Steve.

I asssessed SEN as a bargain at 5.7 cents in August/Sept 2004--and they (SEN) --had-- just immediately prior, put down $2.295 millions ebita.

However SEN's two immediately previous reporting annual earning periods, were: a$4.327 Millions in the Red, and $6516 Millions in the red ....

*** There was no two year history of solid Profit Growth .... on any of these shares at the optimal time to achieve Capital Gains --- on any of these four mentioned shares....

And there is very very good reason and logic for that.

Final point.

Would I have cons

tommy
25-10-2006, 03:46 PM
Hi gang,

Does anyone have the any idea of when scheduled London AIM listing is likely to take place?

Also, anyone want to have a stab at the price at which ITE might be listed? ITE share price on London and Australian markets will to some degree be correlated so it should be of interest to all shareholders here.

tommy
25-10-2006, 06:27 PM
mmm, ITE closed at 15c today, looks like the market is treating the recent market update as a profit warning considering that the share price has been falling since...yawn.

ONTHENOSE
25-10-2006, 07:20 PM
Hopefully a nice announcement soon... dont want to see it get any lower... [V]

Flying Goat
25-10-2006, 07:21 PM
quote:Originally posted by tommy

Hi gang,

Does anyone have the any idea of when scheduled London AIM listing is likely to take place?

Also, anyone want to have a stab at the price at which ITE might be listed? ITE share price on London and Australian markets will to some degree be correlated so it should be of interest to all shareholders here.


Hi All

tommy, relative to the points raised you raised in the last two posts, namely the listing on aim, and the market update announcement (interpreted by some as a "profit warning") - i wonder: is it possible that there is a connection between the two, in the sense that costs involved with listing could be the reason that the operating breakeven will not occur until after half year?? Does anyone care to comment on this theory?? The reason I say this is because if listing on AIM is anythin like listing on the NZ Stock Exchange then we (shareholders) can expect all the costs associated with this to have six zeros (ooo,ooo) on the end. Anyhow, if so i also view this as a short term setback relative to the big picture.

Cheers
Flying Goat

Flying Goat
25-10-2006, 07:23 PM
quote:Originally posted by ONTHENOSE

Hopefully a nice announcement soon... dont want to see it get any lower... [V]


Hi ONTHENOSE

i'm actually looking on the bright side here, if she heads much further south from here i for one will be using the opportunity to top up :D

Cheers
Flying Goat

tommy
25-10-2006, 07:29 PM
Hi FG, good point you made there!

Found out how much it costs to list on London AIM, here it is:

http://money.cnn.com/2006/06/14/smbusiness/vc_aim/

"A listing on the AIM costs about $922,000, less than half the $2.3 million going public on Nasdaq would run a company, according to estimates from investment bank Cannacord Adams."

So, this translates into approx. 1,211,385.98 AUD at the current exchange rate!

Looks like this is a big expense that will put a dent in their cash position. They better raise a lot of money from the listing so they don't run out of cash in 12 months!

David Hardman
25-10-2006, 08:02 PM
quote:Originally posted by tommy

Hi FG, good point you made there!

Found out how much it costs to list on London AIM, here it is:

http://money.cnn.com/2006/06/14/smbusiness/vc_aim/

"A listing on the AIM costs about $922,000, less than half the $2.3 million going public on Nasdaq would run a company, according to estimates from investment bank Cannacord Adams."

So, this translates into approx. 1,211,385.98 AUD at the current exchange rate!

Looks like this is a big expense that will put a dent in their cash position. They better raise a lot of money from the listing so they don't run out of cash in 12 months!




Are they actually raising money with their AIM listing?

From what I can tell they are just dual listing the existing shares they have on issue. In which case no additional funds will be raised.

On the flip side I suspect if its just a dual listing then the AIM fees will be much lower than 1.2m.

My guess is the only reason why they are listing in the UK is to get exposure/cred in the european market. Funny way to go about it IMHO. Why not try and be the "purple cow" and invest in your product rather than some non tangibale marketing exercise such as listing in AIM.

The market sure hated the "market update". Reckon its going to actually take a signed deal to turn around sentiment now.

TheBossMan
25-10-2006, 08:07 PM
A key point of difference in Razor is its computational capabilities re: exposure calculation. The product is better than its competitors simply because Razor requires less processing speed. (i've paraphrased some of the above from an article in ITE's web site re: award from Risk magazine)

If technology improves further (as they usually do) and the costs for distributed computing and parallel procesing come down, won't this competitive advantage be negated?

tommy
25-10-2006, 08:17 PM
quote:Originally posted by David Hardman
Are they actually raising money with their AIM listing?

From what I can tell they are just dual listing the existing shares they have on issue. In which case no additional funds will be raised.

On the flip side I suspect if its just a dual listing then the AIM fees will be much lower than 1.2m.



Hi Dave,

err, getting completely confused with the AIM listing issue now, I need to clear my head.

How can existing shares be listed on London AIM at the same time? Does it mean that some of the existing shares listed on ASX are somehow gonna be "transferred" to London AIM, and if so, how on earth is that done????? I had naturally assumed they were gonna issue new shares on London AIM, since they are going through the trouble of getting listed in the first place. Dear me, someone clarify this matter for me!! I've never owned a share subject to dual listing so I have no idea... the closest thing I had is Buka (BKA) which got delisted from ASX and then relisted on both ASX and LSE as Scarborough Minerals (SRB).

Flying Goat
25-10-2006, 08:22 PM
quote:Originally posted by tommy

Hi FG, good point you made there!

Found out how much it costs to list on London AIM, here it is:

http://money.cnn.com/2006/06/14/smbusiness/vc_aim/

"A listing on the AIM costs about $922,000, less than half the $2.3 million going public on Nasdaq would run a company, according to estimates from investment bank Cannacord Adams."

So, this translates into approx. 1,211,385.98 AUD at the current exchange rate!

Looks like this is a big expense that will put a dent in their cash position. They better raise a lot of money from the listing so they don't run out of cash in 12 months!




Excellent intel tommy, was pleased to note paragraph below:

"And every stock on AIM has at least one analyst assigned to it, making it easier for small companies to attract the attention of bigger, more experienced institutional investors."

However one thing I was unable to extract from that the approximately AUD$1.2 million estimated listing costs was if that included cost of advisors or not as I suspect their portion will not be insignificant.

Also see below from June 2005 Article in Legal Week:

"AIM Listing costs

The total average fees on an AIM admission depend on the nature of the company coming to the market,which affects the nature and level of due diligence needed. As an indication however, the base level for admission costs would normally be about 8%-12% of funds raised.The level of fees on an AIM admission depends on a variety of factors."

Source: ir.teleunit.it/doc/News/LegalWeek30-06-05.pdf

Cheers
Flying Goat

David Hardman
25-10-2006, 08:41 PM
quote:Originally posted by tommy

[quote]Originally posted by Tommy


Hi Dave,

err, getting completely confused with the AIM listing issue now, I need to clear my head.

How can existing shares be listed on London AIM at the same time? Does it mean that some of the existing shares listed on ASX are somehow gonna be "transferred" to London AIM, and if so, how on earth is that done????? I had naturally assumed they were gonna issue new shares on London AIM, since they are going through the trouble of getting listed in the first place. Dear me, someone clarify this matter for me!! I've never owned a share subject to dual listing so I have no idea... the closest thing I had is Buka (BKA) which got delisted from ASX and then relisted on both ASX and LSE as Scarborough Minerals (SRB).




If a stock is dual listed then you can "shunt" the stock to the other exchanges share registry. Simply fill out some paperwork and a few days later the stock will be available to trade on the other exchange.

I can't find anywhere in the IT&E announcements where it indicates that they are actually *raising* money when they list on AIM. (admittedly I have not looked that hard).

That said the AIM listing will give them easier access to funds in the future should they need it..... Why would they need funds though? Haven't they just spent the last few years investing heavy in their product suite and now these products should be bringing in positive cashflows!

The AIM listing is marketing. Nothing more.

Flying Goat
25-10-2006, 09:01 PM
quote:Originally posted by David Hardman

[quote]Originally posted by tommy

[quote]Originally posted by Tommy


Hi Dave,

err, getting completely confused with the AIM listing issue now, I need to clear my head.

How can existing shares be listed on London AIM at the same time? Does it mean that some of the existing shares listed on ASX are somehow gonna be "transferred" to London AIM, and if so, how on earth is that done????? I had naturally assumed they were gonna issue new shares on London AIM, since they are going through the trouble of getting listed in the first place. Dear me, someone clarify this matter for me!! I've never owned a share subject to dual listing so I have no idea... the closest thing I had is Buka (BKA) which got delisted from ASX and then relisted on both ASX and LSE as Scarborough Minerals (SRB).


If a stock is dual listed then you can "shunt" the stock to the other exchanges share registry. Simply fill out some paperwork and a few days later the stock will be available to trade on the other exchange.

I can't find anywhere in the IT&E announcements where it indicates that they are actually *raising* money when they list on AIM. (admittedly I have not looked that hard).

That said the AIM listing will give them easier access to funds in the future should they need it..... Why would they need funds though? Haven't they just spent the last few years investing heavy in their product suite and now these products should be bringing in positive cashflows!

The AIM listing is marketing. Nothing more.

Actually I think you are right David in the sense that they have not signalled capital raising intent (as yet) but perhaps will be expected as they have signalled their intention to pursue Merger Acquisition activity - so given the current cashflow vulnerability it would be a logical step. David, you might be right in that underwriting costs will not be required but I would have thougt they will need due diligence done on the business (as well as other costly formalities) just to get them selves onto AIM...? Not too sure, no doubt someone will fill us in soon...?

Cheers
Flying Goat

treadcarefully
25-10-2006, 09:02 PM
DH - this maybe related to their proposed M&A activities

gjc
25-10-2006, 10:15 PM
Hello to all ITE believers ...and doubters.:)

I've been out of town the past few days on business and haven't had time and energy to post on ST. Back in town now and firstly wanted to thank Robbo, AA, FG and others for their kind words following my posts on this thread last week, appreciate it.[^] Also wanted to thank you all for your consistently engaging discussions on this thread, really great stuff!

I am naturally disappointed in ITE's SP performance over the past few days:( following their last announcement, but remain very enthusiastic about the future for ITE and will use the current low levels to top up holding.;)

Re the current focus of this thread - the potential London AIM listing for ITE - I too agree that this is a "marketing tool", if you like, to expose the company to a larger global pool of investors. This si also a very important and necessary step that the company must take given the circles that it wants market its products and services in globally. I can't find any info from ITE suggesting that they intend to use the AIM listing as a capital raising exercise, although it is a fantastic vehicle for doing just that should they need to now or in the future.

With regard to AIM listing costs and procedures, the following couple of links and cut & pastes from the AIM website might be of interest to those wanting to find out more. You will see from the below that the AIM market offers a simplified and cost effective admission process for those companies who have been listed on certain approved exchanges internationally. The ASX is one such approved exchange. Prices are for listing are not discussed, but the simplified process that ITE will have access to is considerably cheaper than listing a company on AIM from scratch.

Regards, GJC.


http://www.londonstockexchange.com/en-gb/products/companyservices/ourmarkets/aim_new/About+AIM/

Admission criteria & process

The admission criteria for joining AIM are straightforward and simple. They involve:

No minimum size of company
No minimum proportion of shares to be in public hands
No trading record requirement
No prior shareholder approval for the majority of transactions
No restrictions on the transferability of the company's shares*
No requirement to be incorporated in the United Kingdom

The main requirement is that a company coming to AIM must have a Nominated Adviser at all times.

*See the AIM Rules for further details.

Joining AIM - The process

Once you have made the decision to seek a quotation on AIM, the first step is to identify and appoint a Nomad to help your company join the market. Click here to find out how to choose your Nomad.

As well as a Nomad, your company will also need to engage a number of other market specialists to help you through the application process. These will usually include a broker (which may be the same firm as your Nomad), law firm and public relations (PR) investor relations (IR) adviser. After appointing your advisers, you will need to complete an admission document and provide supporting details about your company’s directors, financial position and business activities. This is done in close consultation with your Nomad.

Please see the AIM admission timetable for details of the steps involved and their timing.

To help you reach the right decision over whether to join AIM, you can download a number of documents and guides to assist you, including information about fees. Please click here for a list of these publications.

We are of course always happy to help companies with any information they might want on any aspect of admission to AIM. Please contact us for more details.

Joining AIM - International companies

For companies whose securities are already traded on another international exchange, it may be possible to use our special ‘fast-track route’ to join AIM. Click here to find out more about this fast-track route.

AIM Designated Markets - the fast track route to AIM

This streamlined process to join AIM makes it

tommy
25-10-2006, 10:40 PM
Hi Davidhardman, FG, glc, treadcarefully and all other ITE holders/watchers,

Thanks for the further info guys, highly appreciate your feedback[:I]

So, the consensus is that ITE has NOT (yet?) declared that it will necessarily raise capital upon London AIM listing... however, even if it is a "marketing tool" as some have suggested, won't it make more sense to issue shares on London AIM that will increase the liklihood of analyst coverage and so that more investors will have actually have access to its shares? That said, if there are limited number of shares on London AIM, it might put upward pressure on the share price there due to lack of sell-side. mmm...

GJC's post (good job mate!) on AIM Designated Markets includes ASX, so does this mean that it won't incur as much as AUD$1.2 million? Gonna have to do more research on this, the more we get to know ITE, the more questions we seem to have[:o)]

Another interesting point raised by treadcarefully was M&A activity: the question is, then, will ITE be the acquirer or the takeover target? Still too premature to even speculate, but London AIM listing would surely help boost its profile in the City.

treadcarefully
26-10-2006, 12:59 AM
Hi All,

Some of this discussion has evolved in the ITE "Market Update Announcement" on the 20/10. I too would like to know how the AIM process works.

So what has ITE been good enough to tell us.

AIM listing - Quote -"On July 12th ITE reported that it was taking the initial steps towards achieving duel listing on both ASX & AIM. The Company can report the AIM admission is progressing to plan with all relevant advisors being appointed."

12/7/2006 announcement states the following 4th Para.
Notwithstanding the results expected of our current organic business growth in the European market, IT&e is looking to accelerate its plan to capitalise on its product related opportunities and to consolidate and enhance its position through acquision, merger or similar transaction with an existing profiled local party in that region. The benefits sought from such a transaction include 5 major points etc.


In support of this plan,
POINT 1 - TAKING THE INITIAL STEPS TOWARDS ACHIEVING DUAL LISTING STATUS ON BOTH THE ASX & LONDON STOCK EXCHANGE THROUGH THE AIM. THIS ACTION WOULD ALSO PROVIDE IT&E WITH A FURTHER SOURCE OF ACCESS TO RAISING CAPITAL AS AND IF NECESSARY TO MEET THE DEVELOPMENT INITIATIVE NOTED ABOVE.
POINT 2 - WORKING WITH ERNST & YOUNG IN LONDON TO ADVISE AND GUIDE ITE THROUGH THE AIM PROCESS. OUR ADVISE TO DATE IS THAT ITE QUALIFIES FOR FAST TRACK LISTING ON THE AIM. IF THE AIM LISTING PROCEEDS ITS EXPECTED TO TAKE 3 MONTHS.

So all relevant advisers have been appointed pre 12/7 the actual Fast track method only takes 4-6weeks so we could expect this at any time.

However a couple of points that I'd missed previously are;
1. IT&e is looking to accelerate its plan to capitalise on its product related opportunities and to consolidate and enhance its position through acquision, merger or similar transaction with an existing profiled local party in that region via Greg M appointment.
Point 1 raised the issue of raising capital however it doesn't state how either through the listing or via capital markets.
However the doco refered to by (gjc) Admission to AIM using the fast-track route does not, however, give the ability to raise funds at the time through a public offer as that would involve the publication and regulatory approval of a prospectus. It does, however, allow prior or subsequent institutional placings which can also take place without the costs of a public offering. The fast-track route takes between four to six weeks. [u]</u><s></s>[u]</u>[u]</u><s></s>


Hope this helps the great discussion
Cheers
TC
[^][:p]:D[8D]

treadcarefully
26-10-2006, 01:09 AM
Also on the 20/10 ann - last sentence Mr Meekings is actively involved with the the board, providing guidance on the European market and is currently working on 2 European strategic initiatives for the company either being M and/or A.

Q1. So if they arn't going to raise capital on the AIM listing they must be going to raise it via an institutional placement for an acquisition of some kind.

Q2. I'm completely vague here on this one so if they list on the AIM the only shares that are traded there are sourced from the ASX. Is that correct??????



Cheers
TC[xx(][:I]

robbo
26-10-2006, 11:51 AM
it&e (ITE) ...

Hi ... everyone ....

Really good; to see such a healthy and robust discussion, which makes this it&e (ITE) thread really excellent value. ...

Let me just say one 'broader global picture' thing. re (ITE) :

I sincerely have now come to this assessment:

-- That the more I do the modelling, permutations and combinations and decison tree analysis on (ITE)-- I feel we are sitting on a total -- "Rocket Ship"--.... and that, those who sell now will be very very piss**Ed ...come 3, 4 and 6 weeeks time respectively....

Regards the recent questions raised about some peripheral issues; ..... here is my take:

Re:

(1) Merger & Acquisition activity,

(2) AIM listing .

(3) Raising of Capital.

Here is my experience of these things, and in particular what I assess will.... soon 'pan out' .... in approximation for it&e.(ITE).

(1) it&e (ITE) is an acquirer and not a buyer -- not a target...

In that light, expect to see ...new ....earnings accretive and synergistic acquisitions,(with (ITE) as the acquirer) .... in next few weeks, or at most before Christmas, is my relatively firm assessment.

(2) AIM lisiting (Rasing of Capital) ---will probably incorporate a 'non prospectus' requiring capital raise to cover the costs of the lsiting plus an additional $500K to $1 million.

My Rationale....

.... Makes sense, imo, for cash flow and secondly gives something to the lead English broker to see to his/her clients-- and helps Broeker, imo, re fees and makes 'the move' cash positive.

Thirdly, this is also relatively consistent with what I have observed, occur in 'non mining stocks' ....(mining joint lisiting stocks, have diffeernt dynamics and expectactions...)-- via the ASX in Sydney -- to London joint AIM listings in recent times, before .....

(3) AIM listing timing....??--

Expect as follows as a guestiamate:

Expect to see trading on London AIM-- by mid to late -- November.(2006)

(4) Yes AIM lisiting will make it&e (ITE) more palletable -- and indeed be able to even more 'mandate-able'-- to more Euro and English exchanges and banks and financial institutions--...

Also this rationale would be broadlyy, consistent ..... with the Smith Barnes 'partnership'-- and ditto the 'Capco' 'partnership -- plus the (ITE) strategic inititivaes Greg Meekings is now working on currently ....

Kindest Regards,

Robbo :)


Disclaimer (please read):

Views expressed above are unwarranted. These views ought not to be read as warranted, either expressed or implied, for their accuracy or veracity. Views expressed above, cannot be read as warranted, either expressed or implied, for their accuracy or veracity. Comments expressed here; are on a “Without Prejudice” basis only. Views are only the author’s personal, subjective whimsical thoughts, sometimes experiences, and intuitions. Obviously, as with all opinions, they are open to discussion and refutation, as well as other interpretations and review. In that light, for any investment decision, always do your own research, seek independent financial advice and independent counsel you can trust at all times. Therefore, please take these opinions and sentiments only in this context.

Kindest Regards,

Robbo:)

gjc
26-10-2006, 03:20 PM
This just in...

ITE annual report and notice of AGM just released. You can download them here:

http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode&allinfo=on&asxCode=ITE&companyName=&principalActivity=&industryGroup=NO

Haven't had a chance to read them yet, and as such no comments to make on them yet, just thought you all might be interested.[?]

Regards, GJC.

robbo
26-10-2006, 04:09 PM
it&e(ITE)

Hi ... there .... everyone... :)

Yes, I did like the tone, and info in 2006 Annual Report. Very good.

My First impressions of (ITE) Annual Report are excellent.

And the larger (ITE) buyers ....agree ....with that view....

See that One buyer typically taking out 3 sellers.... so the Big fish taking out the ..... etc etc.... again....:);)

And today's (ITE) share Volumes traded, are over double --by Lunch time-- yesterdays --'sit back" -- traded volumes .... with over a million shares whizzing through already before 2.00 am.....:)

.... btw.... Did some more research on the AIM listing issue; -- there has to be... for all New Co's that list on AIM-- a 20 day Notice----- AIM rules.......announced to us here at the ASX.... as the necessary time lapse before the starter's gun goes off for thenew New British buyers to soak up -it&e (ITE)-- shares....

And there is 99% of the time a timely:-- "English Broker Research Report " -- to accompany the Listing.... to tell all of our British brethren.... about the merits of this corporation....;):)

.....So therefore, I now reckon, that, if we see the.... 20 day notice.... by approx, say, 7th November--??-- then 20 days from there & 'up and running'....on London's bourse--AIM...

... &gt;&gt;&gt;.... @@ -- &gt;&gt;&gt;--

...&gt;&gt; Finally see that today -- in the 12 page Notice for Annual Gneral Meeting-- to held 29 November in Sydney-- that .....


JM Asset Management -- ( -- JM Asset Mgt are a ... Insto/Fund & Commercial Desk Broker) -- have now today, officially announced that they have nominated ....

...... one of their own Board Directors -- Chartered Accountant-- Ms Jane Yuille -- as an external director nominee.!! ..;)...

** ..... Yet another clue gals and guys...

.... Yet another :)- .... easy clue... ;);)[8D]

Kindest Regards,

Robbo :)

tommy
26-10-2006, 04:32 PM
Hi all,

What do you guys think of the number of options on issue?

http://sa.iguana2.com/cache/78d520aa480f3bd6f153c016a263e675/ASX-ITE-264047.pdf

Total options issued 19,081,250
Total options lapsed/cancelled 9,461,333
Total options issued with additional shareholder approval 6,849,500
Total unexpired options issued prior to 27 November 2003 5,454,917
Total options currently on issue 21,765,750


I wasn't aware of this previously...

robbo
26-10-2006, 04:44 PM
ite (ITE)

They are rewarding guys like Greg Meekings and Ellis Bugg--- with performance based Options---in lieu of Large salaries.....

And note the CONDITIONS on said Options....

Put simply--all major listed --or unlisted for tha matter, Software Companies--- go down this route for the incentivization of Talent. Name of the game.

Microsoft, Intel, SUN, Google all.... spring, to mind.....

And a good thing to......

Tommy, You say you were not aware of this before; [?]....

errrr..... Did you read any of the previously published material, released on the ASX Tommy.... Alsost all of this, if not all was already in public domain... !!?

Tell me also Tommy what you think of the SIZE Salaries that these two guys --Meekings and Bugg-- are drawing....

And more importantly Tommy, what did you think Tommy, of the CONTENT ...in the Chairman's Report.... and Directors Report -- as regards .....the Strategy and achievements of the it&e (ITE) actual Organization....for this last 12 months-- and their strategy Going Forward.... [?][?]

Regards,

Robbo :)

tommy
26-10-2006, 05:13 PM
Hi robbo,

Yeah, I have been reading announcements but obviously scanning through them isn't good enough! hahaha
Just worried that ITE doesn't end up doing SEN-like Appendix flooding (issue of options left right and center).

As for strategy, there was very little info that we didn't already know... or was there? And as for the future strategy, ITE says:

"Outlook
IT&e enters 2006/07 with optimism. The Board and Executive Management will continue to work to consolidate and develop the Company’s performance, using the results of 2005/06 as a solid foundation for business moving forward. The Company will pursue its strategy with a focus on winning quality sales and increasing our revenues across all regions.

As IT&e’s success in the global markets builds, the Board believes the positive results will continue to be delivered.
IT&e will continue to judiciously invest in management, delivery, sales and pre-sales resources across its business. Enhancement
and development of the Company’s Executive team will be a continuing objective to ensure that IT&e is best resourced to take advantage of the opportunities throughout the regions and across the various functions of this growing Company.

All product development for our current products (and any acquired throughout the year) will come under the Chief Technology Officer. It is important that as the Company grows, its product development is managed for both a client focused and strategic long-term technology direction.

The Board and Executive Management team will continue to work together closely to navigate the Company through these critical further stages and deliver a commercially sustainable, affordable and growing business with the appropriate levels of diligence and prudence necessary to protect and develop all stakeholders’ interests.
The Board and Executive Management would like to take this opportunity to thank the staff for their dedication over a demanding 2005/06 year.
The Board would also take this opportunity to acknowledge the support of IT&e’s shareholders for their support and commitment to the
Company’s strategy."

Okay, I must be a cynic because I find this statement optimistic but very ambiguous: no targets whatsoever (fair enough, they can't set any).
Furthmore, London AIM listing isn't even mentioned (although mentioned in another part briefly in annual report).

The continuous fall in share price appears to reflect the market's disappointment in that regard too? (relatively large volume today...)

djones
26-10-2006, 05:20 PM
quote:Originally posted by tommy
The continuous fall in share price appears to reflect the market's disappointment in that regard too? (relatively large volume today...)


1012380 Shares Traded Currently.

For every seller thats dissapointed enough to sell there is a buyer that is excited by the prospect of ITE, and are happy to get in at the 14-15cent mark.

Wish i waited a day before buying in as I bought in at 16cents but never mind its only a few cents!

tommy
27-10-2006, 03:05 AM
quote:Originally posted by davidrob
JM Asset Management -- ( -- JM Asset Mgt are a ... Insto/Fund & Commercial Desk Broker) -- have now today, officially announced that they have nominated ....

...... one of their own Board Directors -- Chartered Accountant-- Ms Jane Yuille -- as an external director nominee.!! ..;)...

** ..... Yet another clue gals and guys...


Hi robbo,

I'm trying to work out where you got the Ms. Jane Yuile = JM Asset Management connection, can you help me out?

Below is the profile of Jane Yuile:

____________________

http://sa.iguana2.com/cache/78d520aa480f3bd6f153c016a263e675/ASX-ITE-264047.pdf

2.5 Jane Elizabeth Yuile
Jane Elizabeth Yuile has been nominated by a member to be appointed as a director. Her appointment has not been
sourced by IT&e.
Ms Yuile has advised as follows:
Ms Yuile has over 25 years experience as a finance executive. She is a Chartered Accountant and past chair of the Institute of Charted Accountants SA & NT. She had 10 years experience as the finance director of a publicly listed IT company and now has her own consulting firm which specialises in business risk management and
strategy development.
Currently Ms Yuile holds the following positions
- Since 1999 - Independent Chairman, VICTEC Limited - a company that employs and contracts to industry over 550 electrical apprentices and trainees (Chairman Finance & Audit committees)
- Since 2002 - Independent Chairman, Jam Factory Contemporary Craft & Design - Adelaide's centre for design, creation and exhibition of glass, ceramic, metal and furniture works (Chairman Finance & Audit Committees)
- Since 2006 - Independent Director, Electricity Supply Industry Planning Council (SA) - provides independent advice to the Minister for Energy and the Essential Services Commission (Member Audit Committee)
- Since 2005 - Independent Finance Committee Member, University of Adelaide
- Since 2004 - Independent Finance Committee Member, Southern Adelaide Health Service Ms Yuile's recent executive management roles include
- 2001 to present - Amik Consulting (Executive Director)
- 1998 to 2001 - Utility Services Corporation Limited (Finance Director & Company Secretary)
- 1991 to 1998 - MITS Limited (Finance Director & Company Secretary)
Other recent roles include:
- 2001 – 2006 Institute of Chartered Accountants in Australia – SA and NT
- Chairman (2005) , Vice Chairman (2004)
- 2002 – 2004 Flinders Medical Centre – Director
- Member - Finance committee, audit committee
She also had 10 years experience in audit with Price Waterhouse (Melbourne & London) and Arthur Young (San Francisco).
IT&e has not independently verified any information provided by Ms Yuile.

____________________

I am aware that JM Asset Management's stake in ITE dates back to 2004 (http://www.ftpartners.com/pdf/Financing_01.22.04_IT&e_Limited.pdf), but I cannot confirm that JM Asset Management nominated Ms. Yuile... can you tell me where you got this info mate, your research skills are much better than mine:) thanx in advance

[:I]

robbo
27-10-2006, 11:26 AM
Hi Tommy,

Just to clarify one small point.

it& e (ITE)-- have 198 m shares on issue.

This compares to Senetas (SEN) which have 465 million sahres on issue.

Senetas(SEN) have double and a half-- shares issued and Dilution ....-- what it&e have issued....

ie: SEN have an extra 134 % shares on issue tcompared... (ITE).

That means Tommy, in ADDITION to ITE) --[:0]

To reiterate.... SEN have seriously Diluted their share base-- with over ... a massive 465 million shares (SEN)on issue....[8D]-- which is an extra... ..267 million shares issued More, and over and above that of (ITE)......

That said: if it&e go to $168 millions market cap..... on their first significant upgrade on.... share price 'run' --like SEN did-- then..... that is totallly fine !! ;)[:p]

Re your Appendix worries.

Do not yet see..... one single Appendix..... being retrospectively--and willy nilly handed out to mates and directors-- or suddenly issued...??


As I say; the Options were awarded on an Incentive basis to primarily Bugg and meekings.


Did you notice precisly.... what their low salaries were... Tommy??

Kindest Regards,

Robbo :)

-------------------------------------------------------------------



[quote]quote:Originally posted by tommy

Hi robbo,

Yeah, I have been reading announcements but obviously scanning through them isn't good enough! hahaha
Just worried that ITE doesn't end up doing SEN-like Appendix flooding (issue of options left right and center).

As for strategy, there was very little info that we didn't already know... or was there? And as for the future strategy, ITE says:

"Outlook
IT&e enters 2006/07 with optimism. The Board and Executive Management will continue to work to consolidate and develop the Company’s performance, using the results of 2005/06 as a solid foundation for business moving forward. The Company will pursue its strategy with a focus on winning quality sales and increasing our revenues across all regions.

As IT&e’s success in the global markets builds, the Board believes the positive results will continue to be delivered.
IT&e will continue to judiciously invest in management, delivery, sales and pre-sales resources across its business. Enhancement
and development of the Company’s Executive team will be a continuing objective to ensure that IT&e is best resourced to take advantage of the opportunities throughout the regions and across the various functions of this growing Company.

All product development for our current products (and any acquired throughout the year) will come under the Chief Technology Officer. It is important that as the Company grows, its product development is managed for both a client focused and strategic long-term technology direction.

The Board and Executive Management team will continue to work together closely to navigate the Company through these critical further stages and deliver a commercially sustainable, affordable and growing business with the appropriate levels of diligence and prudence necessary to protect and develop all stakeholders’ interests.
The Board and Executive Management would like to take this opportunity to thank the staff for their dedication over a demanding 2005/06 year.
The Board would also take this opportunity to acknowledge the support of IT&e’s shareholders for their support and commitment to the
Company’s strategy."

Okay, I must be a cynic because I find this statement optimistic but very ambiguous: no targets whatsoever (fair enough, they can't set any).
Furthmore, London AIM listing isn't even mentioned (although mentioned in another part briefly in annual report).

The continuous fall in share price appears to reflect the market's disappointment in that regard too? (relatively large volume today...

robbo
27-10-2006, 11:36 AM
Hi Tommy,:)

As a Fund/Commercial Broker-- JM asset Management are well known in certain circles.....;)

Jane is prominent ..... at the Chartered Accountants Institute in Adelaide......as ....among a few other professional things..... a professional director... or proxy director type....

Put 2 + 2 together...... in addition to some help, from what one hears, and partly knows from my contacts via Adelaide and add this to t the first point .... with waht one knows re JM Asset Mgt....

Also, On a Related point....Tommy ...

Whether Jane and the Grp she represents-- gets the director nomination-- 'up', imo will depend ....on the attitude of Geoff Lord at UXC mainly ....and secondly--to a lesser extent--??--on Simon Yenkins votes...??-- is my personal view...

Kindest Regards Tommy,

Robbo:)






quote:Originally posted by tommy

[quote]quote:Originally posted by davidrob
JM Asset Management -- ( -- JM Asset Mgt are a ... Insto/Fund & Commercial Desk Broker) -- have now today, officially announced that they have nominated ....

...... one of their own Board Directors -- Chartered Accountant-- Ms Jane Yuille -- as an external director nominee.!! ..;)...

** ..... Yet another clue gals and guys...


Hi robbo,

I'm trying to work out where you got the Ms. Jane Yuile = JM Asset Management connection, can you help me out?

Below is the profile of Jane Yuile:

____________________

http://sa.iguana2.com/cache/78d520aa480f3bd6f153c016a263e675/ASX-ITE-264047.pdf

2.5 Jane Elizabeth Yuile
Jane Elizabeth Yuile has been nominated by a member to be appointed as a director. Her appointment has not been
sourced by IT&e.
Ms Yuile has advised as follows:
Ms Yuile has over 25 years experience as a finance executive. She is a Chartered Accountant and past chair of the Institute of Charted Accountants SA & NT. She had 10 years experience as the finance director of a publicly listed IT company and now has her own consulting firm which specialises in business risk management and
strategy development.
Currently Ms Yuile holds the following positions
- Since 1999 - Independent Chairman, VICTEC Limited - a company that employs and contracts to industry over 550 electrical apprentices and trainees (Chairman Finance & Audit committees)
- Since 2002 - Independent Chairman, Jam Factory Contemporary Craft & Design - Adelaide's centre for design, creation and exhibition of glass, ceramic, metal and furniture works (Chairman Finance & Audit Committees)
- Since 2006 - Independent Director, Electricity Supply Industry Planning Council (SA) - provides independent advice to the Minister for Energy and the Essential Services Commission (Member Audit Committee)
- Since 2005 - Independent Finance Committee Member, University of Adelaide
- Since 2004 - Independent Finance Committee Member, Southern Adelaide Health Service Ms Yuile's recent executive management roles include
- 2001 to present - Amik Consulting (Executive Director)
- 1998 to 2001 - Utility Services Corporation Limited (Finance Director & Company Secretary)
- 1991 to 1998 - MITS Limited (Finance Director & Company Secretary)
Other recent roles include:
- 2001 – 2006 Institute of Chartered Accountants in Australia – SA and NT
- Chairman (2005) , Vice Chairman (2004)
- 2002 – 2004 Flinders Medical Centre – Director
- Member - Finance committee, audit committee
She also had 10 years experience in audit with Price Waterhouse (Melbourne & London) and Arthur Young (San Francisco).
IT&e

tommy
27-10-2006, 03:12 PM
Thanks robbo for your reply mate, appreciate your insight as always[8D]

I must admit SEN vs ITE analogy was a bit too crude in terms of dilution, and yes, you're right I'm being paranoid...

I wonder what kind of impact Jane Yuile's appointment to the board will have on ITE if she is admitted?

It would be interesting to find out what her agenda (and the group she represents) is, and whether the existing board would recommend would declare their position (FOR or AGAINST) voting her in. Interesting times indeed!

robbo
27-10-2006, 07:03 PM
it&e

The clue for the group that Jane represents.....imo lies in:

(1) Share Price Return Maximization in the short term-- and I hear talk of JM Mgt Agenda -- in this hypothes...

(a) You see Tommy, if you read the Annual Report just out, and look ..... Carefully..... ....at page 5 .....of the Investor Highlights Page-- and go to the first investor highlight... and in particular read the second aspect on the second line of that First highlight - .....

there is Clue One....

(b) Look at the New Definition of what it&e has become by looking at its self description,,,, on pages 2, 3 and 4... and reflect deeply about that in Context....

(c) Remember the Capco and Smith Barnes(Mc Laren Mercedes F1)-- and the USA partnership with the firm mentioned....;) it is also, ...in the Report--

(d) Look at Ellis Buggs and Greg Meeking formal immediate senior background...

(e) read the Annual Report of UXC and their last Half Yearly--and see their agenda....

You might be able to put the dots together...

Basically may I say-- broadly-- without giving away the specific answer-- that it&e Board, this will be a coveted Board to get on-- for a host of tangible reasons-- -- and that it is dawning on some of the Players-- that this co(ITE) maybe a lot.... LOT Bigger ..... than most have given credit for.. as they are playing (and winning)-- in the Biggest Game in the global town....

But some still are majoring in the minors-- the very minors-- and some fail to allow the 'penny to drop'... 'yet' ....;)

Kindest Regards,

Robbo :)

Flying Goat
27-10-2006, 11:13 PM
quote:

Robbo:

As a Fund/Commercial Broker-- JM asset Management are well known in certain circles.....;)

Tommy:

I am aware that JM Asset Management's stake in ITE dates back to 2004 (http://www.ftpartners.com/pdf/Financing_01.22.04_IT&e_Limited.pdf), but I cannot confirm that JM Asset Management nominated Ms. Yuile... can you tell me where you got this info mate, your research skills are much better than mine:) thanx in advance



Hi Tommy / Robbo

You guys are aware that JM Asset Management SOLD their entire remaining stake (12,225,667 shares) in ITE earlier this year, right?! Happened in June. Just checking we are all on the same page here.

Cheers
Flying Goat

robbo
28-10-2006, 12:12 AM
it&e

Hi FG,

You are correct FG.

Maybe I've got my wires crossed....& my brain muddled...[B)];)[:o)]

Did therefore FG-- JM Asset Mgt sell on to UXC...[?] & if so, then maybe ....she is a proxy.... for UXC.... ?? [?](which would also make a modicum of sense)....

BTW -- either way, my hypothesis theme is still broadly --- The Same-- influential folk -- do now give a damn ..... is what I'm trying to get to, which was the main point--

but point taken FG, on the JM Asset sell down.... and the old memory tells me that was UXC...in aoff market transfer...[?] but will check .....

....Back to my intel room .... to do some 'cross checking'....[B)][:o)][:o)]

oooops....[:0][B)]

Regards,

Robbo:)

djones
28-10-2006, 12:33 AM
It was UXC on 26th june.

Read this announcement:
03/7/2006 13:18:28 Change in substantial holding from UXC

Flying Goat
28-10-2006, 09:07 AM
quote:

Robbo:

Did therefore FG-- JM Asset Mgt sell on to UXC...[?]



Hi Robbo

Weighing up all the facts surrounding the transaction:

- JM selling 12,225,667 shares between 26/05/06 and 28/06/06

- JM avergae selling price for that parcel &lt; 6.9 cents

- UXC purchasing on market 11,079,482 shares on 28/06/06

My personal conclusion is that its very likely that UXC bought the majority of JM's parcel of shares, although according to the UXC announcement it was done on market - so not off. Looks like JM were doing the house cleaning bfore balance data, probably frustrated at the underperforming share price and did not have the patience to wait for ITE to work through their turnaround, and for the market to catch the ITE scent... bet someone at JM is kicking themselves now...!! After all SP has gone as much as 250% higher since then and ITE outlook has imo never been more exciting. (Oh well, it was only a $1.3 million mistake, probably small change for players like that...) On the flip side UXC were using this sell down as a great opportunity to top up on a business that they have quite a bit of faith in (backed up by their 12.67% holding). Reminds me of the old Buffet classic about the financial markets being a place of "transfer of wealth from the impatient to the patient"... hehehe :D

Cheers
Flying Goat

robbo
28-10-2006, 11:05 AM
it&e (ITE)

Hi FG....

we are of similar minds re the Buffett classic....

FG, must admit to being a Value Investor///Intrinic Value seeker freak..... and am a bit of a classic .... Buffettologist/P Lynch/G. Soros fan club...:)

Hey FG.... Tell you what would be more of a classic...[?]!!...

......If JM has subsequently bought back.... in ....Again........;)

.....after the price began to move up again [:0];)--post the Annual Report sign off-- ie: Month of late September/October...

Will research this one....

Kindest Regards,

Robbo:)

Flying Goat
28-10-2006, 01:52 PM
I bring news...!

Jane Yuile was Finance Director & Company Secretary (1998 to 2001) of what was formerly known as Utility Services Corporation Ltdd, now known as Utility Solutions Group and is one of three major business divisions of UXC... UXC ARE NOMINATING JANE...!!!

So you can be sure that she will get 12.7% of votes as a starter, based on Jane's profile my thoughts are that UXC want someone to be in there making sure that the board is sufficiently robust from a financial control perspective.

Fair enough, so the deal makers / breakers are likely to be those directors with the largest holdings, as Robbo pointed out. How will they view this? Based on my logic above, I will put my stake in the ground and suggest that perhaps they will not welcome the nomination.

Why not?

Becuase Stephen Simpson is a CPA and Fellow of the Institute of Chartered Accountants and has extensive financial control experience.

In addition, David Bell holds a Business Degree majoring in Banking and Finance etc...

In my analysis of the make-up of boards for similar small cap listed company's the two gents mentioned above provide MORE THAN ADEQUATE accounting and finance representation to the current board and Jane might prove to be just another salary to pay.

In UXC's defence however, I can understand that they want someone on the inside, especially when they have so much money tied up in the company, and in their own minds probably that via Jane they can add value in a hands on way as they have done to other smaller tech companies in which they have invested.

Once again these are just my thoughts, and I have yet to decide whether my 220,000 votes will go for or against the additional director.

Anyway, more importantly: Robbo, do I get a Mars bar for working out the connection!!!??? :D

Cheers
Flying Goat

underground
28-10-2006, 03:25 PM
mars bars...? i thought robbo only deals in crownie'z :D

robbo
29-10-2006, 03:31 PM
it&e (ITE)

Great piece of investigative Journalism and Research ....re Jane... there FG... wow !! -- [:0]:)

Consequently... Mars Bar/s .... is/are.... now ....on the way FG....

The guys at Mars; are... so happy with all the free 'PR' emenating from The PUB, re their yummy Products; ....that they sent us some free samples-- ,actually, a free box ....of 500 --- mini sample ---- mars bars... ... [:p][:p]

..... So we convened, an emergency Committee Meeting.... here at the Pub, and determined in a close run vote--- to errrr ...... on the side of mega generosity --- (you must have caught us with our guard down FG ....) ...

-- And elected to send you.... two of those ..... [8D];)

-- Agree FG, wit you that I do not 'buy into' (ITE) needing any more 'bean counters'-- type of arguments-- so UXC probably want to know the (ITE) strategy ..... going forward--....

'from the inside'.......

Which also may-- indicate whether, they want to see how --[?];)--- they can somehow [?]--be more involved in a mor----e 'tied in manner' ----with it&e(ITE) in the months/years ahead......(which is also consistent.... with ...

'the WORDAGE'--- of their (UXC's) -- last related to this topic; announcement; when they bought the it&e shareholding up to 12.7%...

For me FG, --- the critical ..... 'two words' .... in that UXC --ASX -- Announcment --.... (re the UXC increasing in (ITE) share holding from a few months ago)-- .... was the UXC perception of what they in their words, called: .... it&e (ITE)'s undervalued 'Enterpise Value'-- which I would also probably describe; and call as, ....'untapped'.... but very preent and undervalued.... Intrisinc Value--- that is now starting to really unfold its true potential petals, and demonstrate the potency of [8D].... as it begins now to blossom and flower ...:)[:p].

All very interesting...... and again thanks for the 'Heads Up'-- re the UXC proxy nomination.... FG. -- Great work my friend.

Kindest Regards,

Robbo :)

PS. Hey FG...

Have you done the 5 minute Free Live Demonstration--[?]:) on Monarque, PTX, and Razor :)-- which is available-- on the (ITE) website ... ??-- [?][?] [8D]-- it is imo really cool and amazing stuff ...[8D]

Regards,

Robbo :)





[quote]quote:Originally posted by Flying Goat

I bring news...!

Jane Yuile was Finance Director & Company Secretary (1998 to 2001) of what was formerly known as Utility Services Corporation Ltdd, now known as Utility Solutions Group and is one of three major business divisions of UXC... UXC ARE NOMINATING JANE...!!!

So you can be sure that she will get 12.7% of votes as a starter, based on Jane's profile my thoughts are that UXC want someone to be in there making sure that the board is sufficiently robust from a financial control perspective.

Fair enough, so the deal makers / breakers are likely to be those directors with the largest holdings, as Robbo pointed out. How will they view this? Based on my logic above, I will put my stake in the ground and suggest that perhaps they will not welcome the nomination.

Why not?

Becuase Stephen Simpson is a CPA and Fellow of the Institute of Chartered Accountants and has extensive financial control experience.

In addition, David Bell holds a Business Degree majoring in Banking and Finance etc...

In my analysis of the make-up of boards for similar small cap listed company's the two gents mentioned above provide MORE THAN ADEQUATE accounting and

Flying Goat
29-10-2006, 06:05 PM
Thanks Robbo, will be looking forward to those sugary sweet mars bars:D

Just on a related point to my previous post - to point out to anyone who was not already aware: Ralph Pickering (the "Merger/Acquistion-Man" who was just this month appointed to the ITE board) is currently a senior executive at UXC and was therefore... ALSO NOMINATED BY UXC.

This fact, combined with what we learned about Jane Yuile's connection to UXC is IMO rather interesting! It would appear that UXC are really looking to increase their involvement in the ITE story. Have yet to come up with any speculative theory on their intentions yet, but the mere fact that they are so MOTIVATED is, IMO, a positive for sure.

So, Robbo, I agree that as ITE investors, we should have one eye on UXC's activities, STRATEGY, track record and other alliances - as these may help us join the dots re: potential developments for ITE!?


Cheers
Flying Goat

PS FYI - The Jane Yuille vs UXC connection was sourced from UXC Annual Report 2001, this being the year she resigned from her role with them.

tommy
29-10-2006, 07:43 PM
Hi robbo and FlyingGoat,

Been away over the weekend and just came back to Sydney! Great piece of info FlyingGoat and robbo, appreciate your posts highly.

Might have to consider buyinto UXC too at this rate, this implications of this nomination could be more far reaching than initially anticipated.

Keeping a very close eye on AGM[:I]

Flying Goat
29-10-2006, 08:16 PM
quote:Originally posted by tommy

Hi robbo and FlyingGoat,

Been away over the weekend and just came back to Sydney! Great piece of info FlyingGoat and robbo, appreciate your posts highly.

Might have to consider buyinto UXC too at this rate, this implications of this nomination could be more far reaching than initially anticipated.

Keeping a very close eye on AGM[:I]




Tommy

Yeah, it would be good to get along to the AGM indeed, will you make it? I cannot unfortunately because I am in New Zealand :(so I hope that any attendees will fill us all in on the detail afterwards;)


Robbo, btw, yes I did try out the demos on the ITE website, looks powerful, especially when you consider the weight (read: number of 000,000's on the end) of the transactions they handle![:0]! coupled with the strong ROI proposition. Also seems simple and intuitive from a user perspective, must help with gaining staff buy-in for such a tool...!

Cheers
Flying Goat

robbo
29-10-2006, 08:19 PM
it&e (ITE)

To be blunt out about it--....

UXC would --imo--- LOVE to get 'their mits'--- on it&e (ITE) ....

But the key 'bloc' to that of course; will be whoever is behind .... [?][?]----Parwood P/L, Merril Lynch Nominees, Invia Custodian P/L---[?]-- with those 3 only, combined -- equalling-- 8.37% -- of the controlling (ITE) voting stock-- which is Seperate and Distinct ... from; .... the Biggie .... ..... being Simeon Yenkin, via his holding thru NS Software--10.25%-- being a total of: # 18.62%, next to UXC's stock holding-- of: 12.5%... as of end of August...2006.....

Of course then there are other minorities-- probably accounting for another-- 15.88 % in the 'Top 20'-- .... errrr.....and of course ......other Investors ....who may or may not be in Top 20.... but have disguised their interests .... through various vehicles and Trust Co's etc.... with more than 1 million shares in each entity.....;)

But here is another 'not quite known'-- 'spanner in the works'-- ....

My (ITE) Trading Reports tell me this fact: -- that, in (ITE) -from just, two (2) months) ago-- ie:- since September 1st of this year-- 2006-- there have been: 24, 572, 500 (ITE) shares traded.... which is about 13.2% of the total Ordinary Voting (ITE) Shares on Issue..... ie: post the date from the numbers I just quoted from in the just released 2006-- (ITE) Annual Report....

Compare that to the 7,035, 700 (ITE) shares traded in the previous equal time period of again; 2 months exactly-- prior to that; that preceded this just finished 2 month period ....in the most recent last previous 2 months .... just traded ....

Summary Conclusion based on the Data:-- ie: There was, as a mattter of record and fact, 345% more/greater...&gt;&gt;&gt;&gt;--- (ITE) shares traded; - in these last two months, -- than the previous two(2) months ...... hmmm... ;)

There is a lot I may possibly.... extrapolate .....:)from this evidentiary statistical 'time series'-- sets of facts; but I will not bore you ....with all my usual cryptic hypotheses and analyses .....

Except of course.... to raise one.... rather obvious point.... [:0]

Of those 25.5 million odd (ITE) shares traded,in the last 60 odd days-- what percentage..[?] ..... were strategic long term Voting Shares and 'holds' that are -- friendly to the UXC camp... [?] --hmmmm --- ???

The plot thickens.... my dear Holmes.....while you suck on your Opium pipe; I think I might join you, in the Pub Club-smoking room if I may Holmes-- and take a seat on the Chesterfield leatehr sofa, ,with my Baskerville hounds -- by The PUB fire-- with a stiff crownie or two... ;)--- and quietly.... mull all of this over ... some more....

.....Mark me down Holmes-- -- something's a brewing Holmes .....hmmmm.... something's a brewing....

Kindest Regards,

Robbo ..:).. (with sincere apologies.... to Doctor Watson...)

Flying Goat
29-10-2006, 08:37 PM
quote:Originally posted by davidrob

it&e (ITE)

To be blunt out about it--....

UXC would --imo--- LOVE to get 'their mits'--- on it&e (ITE) ....



Watson dear fellow...;)

While it does make for interesting speculation that UXC could be looking for a more significant, i.e. controlling or even full takeover stake in ITE and would be in keeping with their VERY AGRESSIVE GROWTH STRATEGY laid out in pages 7 and 8 of their latest annual report, my only reservation to this theory, Watson dear fellow, is that the AIM listing would certainly pose as more a hinderance than a help to their cause, would you not agree? If wanting to be greedy and swallow up ITE, ny time spent mulling things over a few puffs on the opium pipe of logic lead me to think perhaps they would have moved before the AIM-listing wheels were set in full motion[?] Think i'm gonna sit back and watch things unfold anyway...[|)]

Cheers
Flying Goat

robbo
29-10-2006, 09:07 PM
(ITE) it&e....

I find the Deer Stalker Cap you wear.... quite becoming FG....;)..
and ....& ... so while you mediatate... in your opiate trance.....

....There is, I'm afraid, still a knotty problem.... in all of this.....

As.... putting the whole issue ....'under the microscope'.... so to speak... we are still left; with a slight mystery and unsatisfactory conundrum .... that remains...to deduce....FG....

Which although.... not quite to the level of complexity; of a Freudian Oedipus & the Spinx psychological thriller; or a whodunnit page-tuner....where.... who alone-- knows....[:0][?][?]-- the deeper riddles; that give only.... but one clue.... to the enigma... wrapped in a mystery .... inside The Pandorras Box....;)

We .... are...Still left in.... a small vacuum.....encapsulated in a simple question .....

......."but....Why......?? "

Three strands of evidence now...FG....

(1)UXC have publicly & loudly taken out a 12.5% holding in (ITE)...with the rather enigmatic accompanying statement...about wishing to be more; 'than just a passive bystander.."

(2) R.Pickering (from UXC Camp)-- joins board--with the Merger & Acquisiton strategy....

(3) And now J. Yuile proposes to joing (ITE) Board....??


....So.... what are we are left with.... ??.. [?]

......."Why...?..."

Sort of reminds me of a Sir Arthur Connan Doyle, infamous 'logician style quote'--- I am sure you too remember this one FG....:

..".... When you have finally, satisfactorilly eliminated -- the imposible-- you are left--no matter how seemingly improbable--- by process of elementary deduction My dear Watson.... with the solution..." (Sherlock Holmes)....

Must fly FG, ...the evil genius of Moriarty... never rests ....and .... my Hansom cab beckons....

Kindest Regards,

Robbo :)-- (trying to stay,.... one step ahead of the Bow Street runners... ;))...

Flying Goat
30-10-2006, 11:00 AM
By the looks... today is going to be another BIG VOLUME day... a question (not rhetorical, i would really appreicate an answer if anyone knows!!): legally speaking, is it possible for "someone" to be acquiring a stake in a company on behalf of "someone else" so that the first mentioned "someone" does not have to announce to the market what they are up to (for obvious reasons)????

FG

djones
30-10-2006, 11:56 AM
quote:Originally posted by Flying Goat

By the looks... today is going to be another BIG VOLUME day... a question (not rhetorical, i would really appreicate an answer if anyone knows!!): legally speaking, is it possible for "someone" to be acquiring a stake in a company on behalf of "someone else" so that the first mentioned "someone" does not have to announce to the market what they are up to (for obvious reasons)????

FG



Could they not just create a number of companies with trustee as there lawyer or something to that affect and begin buying up shares??

Cant see any reason for it to be illegal for someone to do it for you. I could buy heaps of shares under my name to later "sell" to you.

robbo
30-10-2006, 12:44 PM
it&e (ITE)...

Hi FG...
You are now eneetering into the murky aread of Takeovers Law under the Takeovers Act... and legislation.... and many a legal battle has been fought out inthe courts over that one.

And not being a QC in Commercial Law-- I will desist from trying to answer with any authority whatsoever...--although I can see it might be hard to 'prove' that different parties/corporate entities-- had previously agreed ---to be acting somewaht collusively... to a pre agreed agenda/plam-- to assume and obtain control; when that is exactly... in actual fact ...what they had always.... intended....

To some extent this is 'in another form'-- to some degrees, imo, what the current C7 Case is currently about.... between Seven (stokes) and News/Foxtel.... I think that is the case anyway ....

Regards,

Robbo :)

robbo
30-10-2006, 12:59 PM
(ITE) ITE &e

...hmmmm....

..... Tempted to just now ....'buy & clean out:)' that entire 17 cents (ITE) line ---including 'the jubey' with 500 000 -- on the tail--of the 17 cents depth line-- just for fun...;)[8D]

Kind Regards,

Robbo :)

djones
30-10-2006, 02:06 PM
quote:Originally posted by davidrob
..... Tempted to just now ....'buy & clean out:)' that entire 17 cents (ITE) line ---including 'the jubey' with 500 000 -- on the tail--of the 17 cents depth line-- just for fun...;)[8D]


Please do :)

Flying Goat
30-10-2006, 03:20 PM
quote:Originally posted by davidrob

(ITE) ITE &e

...hmmmm....

..... Tempted to just now ....'buy & clean out:)' that entire 17 cents (ITE) line ---including 'the jubey' with 500 000 -- on the tail--of the 17 cents depth line-- just for fun...;)[8D]

Kind Regards,

Robbo :)




I hear ya mate, its pretty damn annoying isn't it[V] oh well, let them play their games - there is only so long they can last...! :) Volume has nearly crossed the AUD100k mark again, someone is gathering, gathering, gatherng..[:0][:p]

FG

robbo
30-10-2006, 03:32 PM
ITE (ITE)

Hi FG,

Obviously this forum has looked at the ..'lets be fearful angle"-- which was probably-- worthwhile--(see Tommys & other's posts last fortnight etc)... but actually what about the other angle...??

And I mean; let us be.... just for the exercize.... a little more ... specific.

And say, that (ITE) announce not seven or eight, not even five or six, not even four..... but at this stage.... only two or three Extra (over & above already existing)-- Blue Chip Banking Clients .... out of the UK and Europe...;):) --

--....&gt;...&gt;&gt;-- and here is the Clincher.... -- ... before this Christmas ..... 2006.

...--- Now this, imo..... is not maybe, so very fanciful...

Why so, reasons...Robbo....???

Because, Europe operates, (unlike Australia)-- on a---
...-- Calendar Finanical Year... ---that is why-- .... and so therefore, signing off larger style IT infrastructure-- style-- contracts may be opportune before Chrismas for that plain reason....and implementaion may be easier over late December/January....-- ....not from (ITE) point of view -- but from the Euro banks point of view....

-What would 'this scanario' ---- 'signal' to the market -- in a multi-dimensional sorta way..;):)??...[?]

Kindest Regards,

Robbo :)

robbo
30-10-2006, 03:45 PM
it&e (ITE)

To add to the hypothesis I formed, in the previous post-- (regarding late November/December being a possible opportune time for overseas banks to 'come on board' and sign up---- ( ..on the few occassions that (ITE) did choose to actually announce.... a specific New Client-- the majority have not been seperately announced ....)...

... --- HSBC from Hong Kong -- decison made also out of London-- was announced in both late November and early December respectively-- from last year...(for different take ups on it&e products repectively ..) --- and another Regional Bank deal, was announced in November, Penson from France was anounced on 13 December --and Canadian Bank was also .... as a a (ITE) client... announced likewise in early to mid November....)...

food for thought...

Regards,

Robbo:)

robbo
31-10-2006, 12:45 PM
(ITE) IT&e...

Good afternoon everyone...

Thanks again for some of the nice emails ....re: ISS,PYM, EKA, ANG, PBD, and .... of course.... this one... IT&e (ITE) ....:)

IN ... reference to one of the points raised, some of you....raised ... in those various missives....;)

...&gt;&gt;&gt;--- Just now .... doing the 'final touches'-- to some Pub confirmations -- re some of the source material-- and re-testing of some of the data for the hypotheses....re (ITE) ...

.....And assess, that .... by: tommorrow (Wednesday. 1 November)-- -- mid morning - lunch time-ish---[?]--- will be ... hopefully,-- in a better postion to ..... put out-- a Pub Predicition... for (ITE) share price -- in the range of:

The Pub's -- (ITE) predicted Share Price-- for it&e .....

(a) over the next few days to (b) # 2 weeks time period ...

And it is .... remember everyone, only ...-;)-
... The Pub's .... prediction !! ...:)

Kindest Regards,

Robbo :)

caktus
31-10-2006, 01:06 PM
Robbo - Appreciate your research into ITE & ISS (among others ):)
Ihave taken a small stake in ISS & a larger stake in ITE. Both look good the question being which will run first ?
Frustrating traffic jam @ 17c ITE would love to take it out but am still hanging in on Senetas though to a far lesser extent than in the recent past. Right now they are in limbo pending an ann.:D
Should be a good one though I am of the opinion ( humble )[B)]that the big move is a few months off.
Cheers -Caktus

robbo
31-10-2006, 01:57 PM
it&e (ITE)

Hi Caktus ... (really sincerely glad; that you are enjoying--and even also benefiting maybe.... a tad--;))-- from some fo the research from here, at The Pub....

It is not only, imo humble--;)[:I]-- opinion-- which one, will run first-- but on what volumes... and how far and to what degree of sustainablity ... and share market support....

Since we are on the it&e thread, and I like both (ISS and ITE)-- as you know--

It is worth noting, some of the developments-- and emerging clues....

However, I will leave ....two of the more juicy clues.... untill tommorrow ....as promised ....;):)

But will re cap some I have made already-- that are likely to emerge as significant re share price re rating in the next week or so.....again ... humbly caktus-- ;)[8D]....imo....


(1) When the next larger buyer bumbles along, the 17 cents line will be gone in a flash... and that imo will occur in next # 48 hours...

(2) A relatively strong case ....could now be made... that UXC wants to be far more than 'just' a passive investor... with the posts from Flying Goat, Tommy and myself.... over the last few days.... covering most of the issues on this specific point ....

That tells us Caktus, imo-- a signicifcant.... whole lot.... about how ... much... [?][:p]--UXC --as a Board of Directors-- (and note carefully WHO is on that Board--)-- independently now really covet and VALUE ....the (ITE) it&e business....imo...

(3) Looking at the almost nil base salaries of Ellis Bugg and Greg Meekings -- this also tells us what they have appraised, and self-intererestedly--regarding their almsot purely performance hurdle weighted remuneration -- what THEY independently -- think/appraise-- re (ITE) -- of the Immediate future for (ITE) and the prospects ... /Sales/Revenues/Share price potential of (ITE).

Now in that vein Caktus, do, imo, note carefully & well, just for instance where Ellis Bugg also works -[?]-;)and what his very senior job is....

(3b)-- Caktus, The (ITE) Annual Report, also dropped ... imo... ;)-;)-- a nice, and not too heavilly disguised... clue.... about this point.... re. Ellis Bugg.

(4) Review my (ITE) post--from (29/10/06. -- Sunday-- in fine detail-- about the figures and statistics I researched re the (ITE) Volumes Traded time series data... and ask yourself the 'why' question... and then ask it again.... multi-dimensionally....;)

(5) Next review my post from yesterday(30/10/06) regarding the November/December phenomena-- and what has factually historically happened in the past 2 consecutive years --as a matter of factual record-- and WHY -[?]--[?] re (ITE) winning new Sales Contracts.... in these calendar months...[?]--;)

(6) Now imagine Caktus, that you were to put my post on a 'overlay style'-- transparency ... just... for a minute ...?[?]?--

....And then ....take for yourself; a copy of the oficially released: (ITE) Market Update Document-- -- with the '... 23 --approximately-- Marketing New Business Possible Deals that are now in the Pipeline' that were outlined in that (ITE)-- Market Update Document--released on ASX announcements on 20/10/06--

(7) Then extrapolate only a 20% -30% 'win rate'-- and get a figure to add to the curent reported levels of revenues-- with the knowledge that most new banks coming on board spend b/w $4.5 million and $6.6 millions up front-- (see my post quoting this statistic again from the it&e(ITE) doc from the ASX)-- on the initial sign up and service agreemnt take up--
...

.....And extrapolate what the market might do when it does the numbers on the likely ebita....

(8) Then remind yourself that the London Market, via the (ITE)-- pending AIM listing-- in November -- is going to be likely doing the same exercize....weighingu