Author Topic: IVI.V - Ivrnet  (Read 15277 times)

Foreign Tuffett

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Re: IVI.V - Ivrnet
« Reply #10 on: August 27, 2019, 07:17:12 PM »
The vast majority of this company's debt is at 17% (!) interest.  At 6/30/19 they were out of compliance with some loan covenants.....

Unless I am missing something company looks like it is teetering on the precipice of insolvency.

@Foreign Tuffet I think you will find some responses there :

"but the company has progressed to a point where it believes less expensive capital is an option...

Over the last 3 months Ivrnet has explored options with alternate financers and has several proposals on the table. "We want to ensure that Ivrnet takes the right deal for the company, not just the first deal that comes along, so we have presented to them a relaxation of the loan repayment to provide time to evaluate and select the best deal", stated Conrad Krebs of RC Morris. As part of the loan restructuring, RC Morris will allow Ivrnet to make interest only payments for up to 18 months. The intent, however, is to remove the RC Morris loan before that time.

"RC Morris' goal has always been to work with clients that could not find alternative financing and help them grow to the point that we are no longer needed. We are proud of the positive impact this has on our clients and feel Ivrnet is ready to take this step", continued Mr. Krebs.

https://www.accesswire.com/529703/RC-Morris-Relaxes-Repayment-Terms-Ivrnet-Seeks-to-Replace-with-Less-Costly-Capital

https://ivrnet.com/news/2018/08/29/default/august-2018-letter-from-the-president-to-shareholders/

The links you posted are from August 2018 and December 2018, so well before the 1H 2019 report.
Former Teldar Paper Vice President


snowball82

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Re: IVI.V - Ivrnet
« Reply #11 on: August 27, 2019, 07:36:11 PM »
The vast majority of this company's debt is at 17% (!) interest.  At 6/30/19 they were out of compliance with some loan covenants.....

Unless I am missing something company looks like it is teetering on the precipice of insolvency.

@Foreign Tuffet I think you will find some responses there :

"but the company has progressed to a point where it believes less expensive capital is an option...

Over the last 3 months Ivrnet has explored options with alternate financers and has several proposals on the table. "We want to ensure that Ivrnet takes the right deal for the company, not just the first deal that comes along, so we have presented to them a relaxation of the loan repayment to provide time to evaluate and select the best deal", stated Conrad Krebs of RC Morris. As part of the loan restructuring, RC Morris will allow Ivrnet to make interest only payments for up to 18 months. The intent, however, is to remove the RC Morris loan before that time.

"RC Morris' goal has always been to work with clients that could not find alternative financing and help them grow to the point that we are no longer needed. We are proud of the positive impact this has on our clients and feel Ivrnet is ready to take this step", continued Mr. Krebs.

https://www.accesswire.com/529703/RC-Morris-Relaxes-Repayment-Terms-Ivrnet-Seeks-to-Replace-with-Less-Costly-Capital

https://ivrnet.com/news/2018/08/29/default/august-2018-letter-from-the-president-to-shareholders/

The links you posted are from August 2018 and December 2018, so well before the 1H 2019 report.

You are 100 % right, I added the link for the previous reference from the lender. So they still have time vs the goal mentioned there : « RC Morris will allow Ivrnet to make interest only payments for up to 18 months. The intent, however, is to remove the RC Morris loan before that time. »

The reduction of the debt cost and MRR addition are the keys.  If they execute well on those fronts the stock price shouldn’t stay at $ 0.015. I keep my large position.
« Last Edit: August 28, 2019, 04:24:28 AM by snowball82 »

spartansaver

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Re: IVI.V - Ivrnet
« Reply #12 on: October 18, 2019, 10:14:46 AM »
Would anyone that is a shareholder mind posting or PMing me the subscription document related to the offering? Many thanks.

snowball82

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Re: IVI.V - Ivrnet
« Reply #13 on: March 28, 2020, 08:54:07 AM »
I have had a large position in this company for years but it is the first time I see they are offering Business continuity solutions. Maybe a link with the Covid-19 context.

https://ivrnet.com/wp-content/uploads/2020/03/Ivrnet-Business-Continuity-Solutions-Overview.pdf

We can also see they offer audio conferencing service with Shaw Communication (SJR-B.TO) in Canada and USA.

http://conferencing.ivrnet.com/

http://conferencing.shawbusiness.ca/

Ivrnet is a very small player in this field.



« Last Edit: March 28, 2020, 11:58:33 AM by snowball82 »

snowball82

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Re: IVI.V - Ivrnet
« Reply #14 on: June 10, 2020, 07:29:17 PM »
Traded again at $ 0.01 today.. for each CSU's share value we can buy 151 400 IVI's shares at $ 0.01;)

New June investor presentation

https://ivrnet.com/investor/corporate-presentation/
« Last Edit: June 10, 2020, 07:55:23 PM by snowball82 »

Foreign Tuffett

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Re: IVI.V - Ivrnet
« Reply #15 on: June 11, 2020, 06:51:02 AM »
Why are they having such a tough time filing their financials for last year? CFO left last December, and now  they are changing auditor!?

Former Teldar Paper Vice President

snowball82

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Re: IVI.V - Ivrnet
« Reply #16 on: June 11, 2020, 02:08:43 PM »

snowball82

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Re: IVI.V - Ivrnet
« Reply #17 on: July 04, 2020, 10:49:18 AM »
Ivrnet to Continue to Rely on Extension For Time to File Financial Statements

Calgary, Alberta, (June 29, 2020) - Ivrnet Inc. (TSX.V: IVI) (“Ivrnet” or the “Company”) announces that, as
previously news released on April 28, 2020 and May 27, 2020, it will be relying on the extension period granted
by the various securities commissions in Canada as a result of the COVID-19 pandemic in respect of certain of its
filing requirements including, but not limited to, its filing requirements related to its quarter ended March 31,
2020 (the “Interim Filings”). The Company is continuing to work diligently and expeditiously to file and deliver its
Interim Filings on or before July 14, 2020. In the interim, management and other insiders of the Company are
subject to a trading black-out policy that reflects the principles in Section 9 of National Policy 11-207, Failure toFile Cease Trade Orders and Revocations in Multiple Jurisdictions.

As of the date of this news release, there have been no material business developments since the issuance of the
Company's last news release on May 27, 2020 regarding its intention to rely on the aforementioned extension
period granted by the various securities commissions in Canada.

About Ivrnet
IVRnet is a software and communications company that develops, hosts, sells and supports value-added business
automation software. The company's products and services are delivered through the Internet and traditional
phone network. These applications facilitate automated interaction through personalized communication
between people, mass communication for disseminating information to thousands of people concurrently, and
personalized communication between people and automated systems.

For further information: please contact Andrew Watts, President and CEO, Ivrnet Inc.; Suite 222, 1338 - 36 Avenue
NE, Calgary, Alberta T2E 6T6; Tel/fax 1.800.351.7227; E-mail: investors@ivrnet.com; www.ivrnet.com
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.