ihg...one to watch g'day balmersdog, i called computershare...

ihg...one to watch g'day balmersdog,
i called computershare yesterday to ask about the IHGN,i was told that they were not offically recognised...but it was up to individual brokerages to have a market for them...what ever that means:).

chart wise IHG is looking ok,quite happy with todays action..came down to close the gap at .032 and closed on its highs.i would prefer that it stays around these prices for the rest of the week so that it doesnt move to far away from its 34 day moving avg. a .035 to .038 close for the week would be suffice for me.to much more and one would expect a pull back.

the thing that drew us to IHG was why these sophisticated investors were prepared to invest their money in the company,apart from sabatica pty ltd the remaining 4 sophisticated are all new money.they were entitled to the rights issue thru the convertible notes that they took over the company which entitled them to 336 miilion shares at .025...the thing is it wont be these guys selling their shares[IHGN] over the last few days as they are in escrow for at least 6 mnths.incedently IHGN has traded approx. 16 miilion shares so far...a very small amount considering there r 725 million on issue.even tho 78% was taken up the lead under writter has agreed to under write the whole lot.i notice that the majority of the IHGN trades were x-trades...perhaps pattersons selling to its clients.if u have a read thru my recent posts on IHG u will see that i have calculated that the sophisticated investors have an average buy in price of .02877 cents thats fully diluted including options and converting their convertible notes to shares...so if one was able to get in at around these prices this stock is worth the punt...as stated in my previous posts our average buy in price including the rights is .028....so for now we r still in

also worth considering is something good surely must be comming up if the banks and major creditors r prepared to take stock in the company in lieu of cash at this point.

i emailed the company over the week end and got a reply today...basicly all they said was that they couldnt tell me anything for corporate governace reasons and that they usually released thier half yrly report towards the end of feb.....if they can achive what the say in thier recent announcments interesting times lay ahead....cheers