I have been researching the background of IMON for about two months now, and the product has promise. As noted in the Nov 30 issue of Barron's in the "Current Corporate Reports" section, "the Patent and Trademark Office has allowed ALL 34 claims contained in a patent application for its 'Method and Apparatus for Database Transformation and Adaptive Playback'". As quoted, "This new invention is the core of ImaginOn's proprietary technology forming the basis for it's three software products: World Cities 2000, WebZinger and sellONstream. From a user's perspective ImaginON's invention means access and viewing from vast networks like the world Wide Web will become easier and faster."
To additionally quote, " ImaginOn Inc. also announced that it will release in late January 1999 the internet's FIRST "Supra Search Engine" - WebZinger 6.00 (TM) Unlike anything before it, WebZinger 6.00 is all-in-one web software, doing the whole job for internet researchers: searching, locating, downloading, formatting, presenting and browsing."
The big step for this company was achieved last December when California Pro Sports merged with ImaginOn. Like many small internet companies I have been following, this company has the potential and the financial backing of investors to become the real thing.
When I spoke to the company last month, many investors of CALP purchased stock in the company at share prices that are higher than what it is trading for now. (See prices in October and November) Obviously there are no guarantees of how any stock is going to do, but we have all seen in the past few months how quickly low priced ($1 - $10) internet stocks can flourish.
This is not a fluke. It is because of the power of the Internet. Wall Street used to be a secure domain for traders, and high-priced full service brokers. Like everything else, the power will eventually shift into the hands of individual traders. The technology has made this so. We have in our hands for the first time the resources, the technology, and the research to become sophisticated and well-learned traders.
So while P/E ratios, Quarterly earnings, and financial statements are still important factors in selecting stocks, who can possibly explain the rise of so many stocks with such little paper value. A big part of this is because of the power shift of WHO is trading. Maybe the OUTSIDERS will eventually gain strength on determining the value of a stock. Maybe the OUTSIDERS will become the INSIDERS of many new internet stocks that follow. This is only the tip of what will come.
So as far as IMON is concerned, it is one of many new INTERNET companies that has a lot of potential, and if the INTERNET community thinks so, it may become another one of those stocks that increases in value not because of what it is worth on paper, but because of the POTENTIAL it has.