Intermap Reports 2015 First Quarter Financial Results

Posted by Rich Mohr

May 15, 2015 2:56:00 PM

DENVER – May 15, 2015 (TSX: IMP) – Intermap Technologies Corporation (“Intermap” or the “Company”) today reported financial results for the first quarter ended March 31, 2015. A conference call will be held today, May 15th, at 5:00 p.m. Eastern Time to discuss the results.

All amounts in this news release are in United States dollars unless otherwise noted.

Intermap reported total revenue of $1.0 million for the first quarter of 2015, compared to $2.1 million recorded in the same period of 2014. Operating loss for the first quarter of 2015 and 2014 was $4.0 million in each period. First quarter adjusted EBITDA for 2015 and 2014, a non IFRS financial measure, was a loss of $3.6 million in each period. Adjusted EBITDA excludes restructuring costs, share-based compensation, change in value of derivative instruments, gain or loss on the disposal of equipment, and gain or loss on foreign currency translation.

“Our focus for the quarter continued to be on further development of our 3DBI® software platform and the pursuit of an anticipated Spatial Data Infrastructure (“SDI”) contract,” said Todd Oseth, President & CEO of Intermap. “Notable progress was achieved on both fronts with a concentration on the analytics portion of our Orion Platform™. Our platform based approach to solving geospatial problems allows each of our customers to customize their geospatial related requirements in a rapid manner, eliminating the need for lengthy development times that would otherwise be required in non-platform based software applications. We believe this approach is key to attracting new customers that have never had available to them this type of flexibility, speed and power.”

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Topics: Financial Results, Investors

Intermap Mourns Death of Valued Board Member

Posted by Rich Mohr

May 12, 2015 8:28:00 AM

DENVER, May 11, 2015 - Intermap Technologies Corp. (IMP.TO) today announced the passing of L. David Sikes on Thursday, May 7, 2015. A member of the Intermap board of directors since April 2014, Mr. Sikes received his Electrical Engineering degree from Massachusetts Institute of Technology (MIT) and spent the majority of his career as an executive in the semiconductor industry working for companies such as National Semiconductor, Motorola, Eastman Kodak, ASM International, MicroComponent Technology and Ramtron International Corporation. He was most recently the owner/principal of Exeter Consulting, working with technology startup companies across the country.
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Topics: Board of Directors, Investors

Intermap Issues Warrants and Announces Q1 Reporting Date

Posted by Rich Mohr

May 7, 2015 8:02:00 AM

DENVER, May 7, 2015 - (TSX:IMP) - Intermap Technologies Corporation ("Intermap" or the "Company"), reports today that it issued 4,530,166 warrants to a previous debt holder following shareholder approval of the issuance at the Company’s May 1, 2015, Annual General Meeting.

The warrant issuance is part of a debt financing that occurred on January 14, 2015, which included the issuance of warrants to purchase 6,000,000 Common Shares of the Company. Of this amount, 1,469,834 were issued at the time of closing and the issuance of the remaining 4,530,166 shares was subject to shareholder approval. The warrants have an exercise price of C$0.08 (US$0.06), expire in three years, and are subject to adjustment in certain events.

Intermap 2015 First Quarter Conference Call
Intermap issued notice today that it will release its 2015 first quarter financial results after market close on Friday May 15, 2015.

A conference call to review the results will take place May 15, at 5:00 pm ET. To participate in the call, please dial +1-647-427-7450 approximately 10 minutes prior to the conference call and provide conference ID 39755918. A recording of the conference call will be available through July 31, 2015. Please dial +1-416-849-0833 and provide pass code 39755918 to listen to the rebroadcast. The call will also be available on Intermap’s website at http://www.intermap.com/investors for replay.
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Topics: Financial Results, Investors

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