Author Topic: IVI.V - Ivrnet  (Read 11646 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.


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: January 07, 2020, 07:03:43 PM »

snowball82

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Re: IVI.V - Ivrnet
« Reply #14 on: January 15, 2020, 07:18:33 PM »
Jeff Young joins Ivrnet at $ 0.025 stock price.

CALGARY, AB / ACCESSSWIRE / January 15, 2020 / Ivrnet Inc. (TSXV:IVI) ("Ivrnet"), a leading developer of value added business automation software, is pleased to announce the appointment of Jeff Young to the new position of Vice-President Sales. This appointment is strategic to the company's plan to accelerate sales and expand growth into new markets in the US and across Canada. Jeff is a seasoned sales professional with over 20 years experience developing markets for leading edge technology software products and a proven track record of strong client service.

"I am delighted to join Ivrnet and lead our solid sales team to enter new markets, increase revenues, and build on our current close partnerships with customers," said Jeff.

"We are very happy to welcome Jeff to the team," said Andrew Watts, President and CEO of Ivrnet. "He brings with him a wealth of experience entering new markets, a strong focus on customer service and a disciplined and rigorous approach to sales.

https://www.google.ca/amp/s/www.accesswire.com/users/amp/viewarticle.aspx%3fid=573231

« Last Edit: January 15, 2020, 07:20:32 PM by snowball82 »

snowball82

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Re: IVI.V - Ivrnet
« Reply #15 on: January 30, 2020, 05:17:07 PM »
Do you know who are the competitors for the Professional Associations vertical market software (CAN & USA) ?

https://youtu.be/xbYSW3r3IkY