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Intermap CEO: The Opportunity Is Bigger Than We Ever Imagined

Author's Note: This article discusses a microcap stock. Please be advised of the risks associated with microcap stocks. The text of the interview is an abridged transcription of a conversation between Lazarus Investment Partners LLLP and Intermap Technologies Corp. Intermap had no input into the selection of the title of this article nor into the commentary and analysis that precedes the interview. Lazarus is a shareholder of Intermap. Lazarus received no compensation for this article.

Introduction. Intermap Technologies (OTCQB:ITMSF) (TSX: IMP.TO) is one of the newer investments in our fund. In 2007 the stock traded at $10.50 a share. Today shares trade around $0.30 and the company is way off the radar screens of most investors. When we first started looking at the company we couldn't help but wonder why its shares were priced more than 95% below prior levels and whether it might be able to recapture some of its past glory. (To be fair, the company has more shares outstanding today than it did in 2007, but we are still talking about a market cap that was once something like 14x what it is today.)

What they do. Intermap provides geospatial solutions with particular strength in 3-D terrain tools that help companies, organizations, and governments make better terrain-based decisions. Think, for example, of a telecom company that is planning where to put its towers, or an insurance company pricing policies in a flood zone, or a disaster-management agency developing a fire containment strategy. All need sophisticated mapping technologies with industry-specific tools, far beyond anything offered by Google Maps. They need to study everything from the slope of the terrain to area demographics so they can plan their business, projects, and budgets accordingly.

Intermap takes data from a variety of sources, such as satellite imagery, population databases, and, very importantly, data it gathers by

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We have investment positions in some of the securities we write about, and our positions are subject to change at any time. Nothing here is to be deemed a solicitation for investment nor investment advice. Please read our full legal disclaimer.

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