Jan. 22 at 5:54 PM
$ITMSF This is STILL a SPECULATIVE investment. A minority of the 2026 guidance (insurance + Malaysia + existing programs) is currently under contract. The majority of the guidance depends on new awards & successful milestone execution that are not yet contractually secured.
Recent quotes puts this around the current
$1.25/sh price with a market cap near
$85–90M. This price reflects "option value" on contracts that are still pending rather than a locked‑in 2026 revenue stream.
What they clearly have today?
Net cash:
$20–21M +/-(cash minus total liabilities) as of Q3‑2025.
Trailing business:
$10M +/- trailing 12‑mo revenue mostly from insurance & existing mapping contracts
A PATH but not proof of scaling.
Equates to: total equity value band of
$25–40M which using the current share count equates to
$0.40–0.70 per share.
If they get the contracts, technically the price shouldn't move (but might on excitement.) If they announce NO new contracts, it will drop.
Changing my mind ...I'm out!