Investors in Intelligentias convert debt position to stock

How do you know a company is in the right space and is doing well? There are people — smart, savvy people — who are glad to convert their debt position in the company into common stock equity. Now, there is a vote of confidence for you.

The company is Redwood City, California-based Intelligentias, a specialist in providing data retention, tracking, and investigatory services for telcos, ISPs, homeland security, and law enforcement agencies around the world, announced today that it has signed an agreement with New York-based Vision Opportunity Capital Management, an investment adviser specializing in private placements, to convert the entire $8,000,000 debt position of Vision manages into common stock equity. The agreement, signed by Adam Benowitz, cofounder of Vision Opportunity Capital Management, calls for the firm to convert $8,000,000 of the principal into shares of common stock. Vision accepted restricted shares, with Benowitz explaining, “After watching the growing activity in the Data Retention space over the last several months, and how Intelligentias was so successfully capitalizing on the opportunities presented by current and upcoming legislation requiring all Telcos and ISPs to utilize Data Retention technology to maintain call and web records, we became more and more confident in our investment, and we ultimately decided that this was a company that was going to be an integral part of the market, and one we could support over the long term.”

Luigi Caramico, president of Intelligentias, said: “I think it says a lot about Intelligentias and how we are positioned in the market to have such a large vote of confidence from an organization like Vision, which is becoming a real name on Wall Street as one of the most astute registered investment advisors in small companies.”

Intelligentias markets homeland security products aiming help in preventing terrorism, cyber-crime, and child exploitation. One of Intelligentias portfolio company, Retentia,sells data retention, tracking, and forensics software. Another portfolio company, Investigatia, is being launched this year to offer data investigation solutions, focusing on fraud, identity theft, identity authentication, and verification. Then there is another portfolio company, Interceptia, which is also being launched this year, with the description of being a “lawful intercept company.” Interceptia will focus on legal interception of telecommunications by law enforcement authorities.