Intermap Technologies (IMP-T)

They provide very detailed 3-D maps which are primarily used in the oil/gas industry, but have a variety of applications. His concern was that they are competing against Google Maps, which essentially provides the product for free, which is tough to compete against.

Hasn’t looked at this for about 10 years. They make very high resolution digital maps. A concern he had was the competition against Google maps. They explained that to be in oil/gas, you need a much higher resolution map. The problem is, you have to invest in a library, and then you have to monetize it and sell it. Thinks it is pretty tough to compete against Google.

(Market Call Minute.) Have a huge deal they are working on, and it seems they are getting awfully close to getting that deal nailed down. If so, it would be quite significant for them going forward. A reasonable speculation to buy.

(Market call Minute) They just landed a large contract, but near term earnings are not going to grow. People are looking for the contract to pan out for them.

Their specialty is mapping and 3-D mapping, particularly in the US and Britain, trying to figure out where the floodplains are. Their customers include insurance companies. This is not covered by any analyst. Overall earnings growth has not been great and free cash flow is not positive. It really evolves around them getting big contracts.