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Report Link: Updated Research Report (Dated 08/22/2019)
Analyst: Howard Halpern
Taglich Rating: Speculative Buy
Price Target: $0.20
Time Horizon: 12 Months
Rating Established: February 26, 2018
Price When Established: $0.15
Most Recent Report: August 22, 2019
Price When Issued: $0.13
Intellinetics Acquires Graphic Sciences
On March 4, 2020, Intellinetics Inc. announced it acquired Graphic Sciences, Inc., a Michigan based company that specializes in document scanning and digital conversion services.
The initial purchase price for Graphic Sciences consisted of approximately $3.5 million in cash, on a cash-free, debt-free basis, and is subject to a post-closing net working capital adjustments.
Graphic Sciences will operate as a wholly owned subsidiary of Intellinetics. The IntelliCloud solution suite will be expanded to include Graphic Sciences’ document scanning and microfilm services.
Intellinetics Reports 3Q19 Results
On November 14, 2019, Intellinetics Inc. reported 3Q19 results for the three-months ended September 30, 2019.
INLX reported 3Q19 net loss of $399,000 or ($0.02) per share, on revenue of $756,000. In the year-ago period the company reported a net loss of $480,000 or ($0.03) per share on revenue of $673,000.
We forecasted 3Q19 revenue of $620,000 and a net loss of $510,000 or ($0.03) per share.
Intellinetics Inc., headquartered in Columbus, OH, has developed IntelliCloud™ a software solutions platform enabling customers to capture and manage documents across its operations. IntelliCloud is a secure document management solution for organizations that have critical document requirements such as for audit trails and credentialing. The company’s primary targets are organization and governmental agencies within the health and human services and education (K - 12) markets.
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