IAS
Integral Ad Science Holding LLC
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Are penny stocks worth it? 3 to watch right now.
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Fun fact, even high net worth folks get fleeced by EJ: https://www.edwardjones.com/sites/default/files/acquiadam/2022-07/IAS-3936I-A-FS_Final.pdf Put in $8 million? They charge $62,600, not including additional platform fees. Meanwhile there are at least half a dozen investment options that would **pay** you to put money in their account (via their promotional offers). I moved a $270,000 account from M1 Finance to JP Morgan Chase investing. Chase's investment UI and features are terrible, but I'm getting a $1000 bonus and then I'm hopping to another investment site.
Into the dollars potentially. Id send an image of my Ai to take up less space but cannot post images. **Where TXTM sits today under GAAP:** TXTM is a US domiciled company filing under US GAAP. Under GAAP ASC 905 — agricultural accounting — biological assets like seeds are recorded at **historical cost**. Dr. J donated the original seeds at $1/seed. Multiplication yields from the grower are recorded at $0 because no cost was incurred to produce them. Result: 1.25 billion seeds sitting on the books at approximately **$505 million.** That's what the market currently sees. **The IFRS switch — why it changes everything:** IFRS IAS 41 — the international biological asset accounting standard — requires biological assets be marked to **fair value** at every reporting period regardless of what was originally paid for them. TXTM cannot use IFRS on a US exchange as a US domiciled company. So the plan is to **redomicile** — move the company's legal home outside the US — becoming a Foreign Private Issuer. Foreign Private Issuers are explicitly accepted by the SEC filing under IFRS. More importantly JSE and LSE are both IFRS native exchanges that require it. The moment redomicile completes and IFRS audits are filed — the balance sheet transforms. Seeds stop being recorded at historical cost and get marked to independently verified fair value. **The $2.17 thesis — current seed inventory:** A third party commissioned valuation established **$15.26/seed** fair value in 2024. Deloitte is currently engaged to independently validate the enterprise value — providing Big 4 credibility to that number. 1,250,000,000 seeds × $15.26 = **$19,075,000,000** $19,075,000,000 ÷ 8,791,221,631 shares = **$2.17 per share** From current price of $0.00875 that is a **247x return.** This is seeds only. No revenue. No technology. No RWA infrastructure. No carbon credits. No bonds. Just the existing seed inventory marked to fair value under IFRS divided by shares outstanding. **The $4.60 thesis — full multiplication delivery:** The seed multiplication agreement requires the grower to return 4x what was sent. 600 million seeds were sent in April 2025. 1 billion were returned in June 2025. **1.4 billion seeds are still contractually owed.** When delivered: 1,250,000,000 current + 1,400,000,000 owed = **2,650,000,000 total seeds** 2,650,000,000 × $15.26 = **$40,439,000,000** $40,439,000,000 ÷ 8,791,221,631 shares = **$4.60 per share** From current price that is a **526x return.** Again — seeds only. Nothing else included. Lets use the $2 share example, even if you discounted that by 75% that share price would still be Way higher than the current .008 (pre institutions, Pre uplist).
Latest report (23/02/26) shows that they do indeed have debt \~$700K. A preliminary engagement for a valuation is not the same as being "audited by Deloitte". Deloitte provides consulting or valuation services to smaller firms for a fee without the same level of rigorous oversight required for a full public audit. You say that assets currently worth $1 under US GAAP will be worth $15+ under IFRS leading to a $20 billion valuation**.** This relies on IAS 41 which allows biological assets (like hemp or medical plants) to be measured at fair market value rather than historical cost. FMV is highly subjective. Just because a plant could be worth $15 doesn't mean the company has the sales channels, licenses, or infrastructure to turn 1.25 billion plants into $20 billion in cash. The company acquired some seeds and then passes them to a third party to cultivate them. The grower then returns the crop and the seeds from the new plants and collects a fee for doing so. This cost is already baked into the value of the asset (the seeds) and so the value rerating depends on how they process the crops. How many hemp farms claim that their "proprietary process" is the best ? This is just an accounting trick at best to make the assets worth more on paper. Do I think they could get a rerating in the future ? Yes, however assuming its going to 15X is absurd. This sounds like Jack and the beanstalk to me. Full porting into magic seeds is very regarded indeed. https://preview.redd.it/gr4ni1pvshmg1.png?width=1082&format=png&auto=webp&s=4d1f6fe53edfce2c84109d3c08f9a25ac7627933
CAAP earnings: Consolidated Revenues ex-IFRIC12 reached $472.1 million, up 16.6% year-over-year (YoY), driven by increases of 18.0% and 15.2% in Commercial and Aeronautical revenues, respectively. Excluding rule IAS 29, consolidated revenues ex-IFRIC12 increased 17.5% YoY to $475.4 million. Key operating metrics: 9.3% increase in passenger traffic to 23.3 million. 3.4% decrease in cargo volume to 93.5 thousand tons. 6.9% increase in aircraft movements to 230.3 thousand. Operating Income of $147.0 million, compared with $100.9 million in 3Q24. Adjusted EBITDA ex-IFRIC12 increased 33.6% to $194.3 million, from $145.4 million in the year-ago period. Excluding the impact of rule IAS 29, Adjusted EBITDA ex-IFRIC12 rose 34.9% to $195.3 million. Adjusted EBITDA margin ex-IFRIC12 expanded 5.2 percentage points to 41.2% from 35.9% in 3Q24. Adjusting for rule IAS 29, Adjusted EBITDA margin ex-IFRIC12 increased to 41.1% from 35.8% in the prior-year quarter. Maintained strong liquidity position with $540.4 million in Cash & Cash equivalents as of September 30, 2025. Net debt to LTM Adjusted EBITDA remained at 0.9x as of September 30, 2025, reflecting continued financial discipline and solid Adjusted EBITDA growth.
KRKNF, GH, AUR, IAS, and obviously RKLB
Air India report: The aircraft achieved the maximum recorded airspeed of 180 Knots IAS at about 08:08:42 UTC and immediately thereafter, the Engine 1 and Engine 2 fuel cutoff switches transitioned from RUN to CUTOFF position one after another with a time gap of 01 sec. The Engine N1 and N2 began to decrease from their take-off values as the fuel supply to the engines was cut off. In the cockpit voice recording, one of the pilots is heard asking the other why did he cutoff. The other pilot responded that he did not do so.
I dont think they will report it in q2, according to IAS 37.14 and 86, and crwd can postpone it to even next year if they are smart (legally speaking)
IAS partners with Reddit to provide AI-driven measurement to advertisers Bullish
With ORCL shutting down their ad integrity offerings, wonder if IAS or DV worth a swing here? Dont know the industry well but it seems like an easy thesis with dv/ias down so much already and potentially some churn moving to them now “In Q4, we decided to exit the advertising business, which had declined to about $300 million in revenue in fiscal year ’24"
OK, just for fun. Here is a stock screen (Market Cap > $1B, Analysts covering > 10, upside > 100%). I'll check back in 6 months to see how close the price targets are. Symbol Cap Price Target PT Diff. (%) CERT 2.71B 16.95 46.81 178.80% NTLA 2.38B 24.68 67.64 175.91% DNLI 2.69B 18.85 43 128.18% SHLS 1.31B 7.66 17.13 127.04% PLUG 1.94B 2.79 6.2 123.42% YETI 3.37B 39.55 85.43 115.73% RARE 3.46B 41.67 87.86 111.43% XPEV 8.51B 8.13 16.83 106.38% IAS 1.34B 8.42 17.42 105.43% ARWR 3.08B 24.87 50.8 103.93% MIRM 1.22B 25.88 52 102.57%
Good to know, it did seem like from other actual users on reddit that the products were not "mission critical", so that could also explain pricing weakness if that is a generalized perception. Do you have any thoughts on IAS vs DV? I would be curious if its the same
Digging to DoubleVerify a little bit since its down -37% AH which seems worth looking into, quarterly growth came in at 15%. Still calling out connected tv and social as their fastest growing segments. Full year guide reduced to 17% at the midpoint down from analyst expectations of more like 23%. So basically a very serious de-acceleration from a business that did 27-36% annually for the period of 2019-2023. Volumes were up but pricing was down, so if I had to just guess as to why it got hit so hard its basically that the business moat isnt holding up against pricing wars from competition like IAS which has called out pricing pressure previously, but DV management had said they were not seeing it iirc. This specific business is very much outside my circle of competence and I already have way to much advertising exposure, but still interesting to keep an eye on.
I bought 100 shares of IAS because I heard your are supposed to “buy low”. Now I just need to sell high somehow.
Long on RIVN and IAS, short on ARM and SOUN
Leaps on IAS. thank me later
IAS 20c Vol 4, but could hit.
>The BAWAG Group has decided to continue using hedge accounting in accordance with IAS 39. This means that the group will use fair value hedging to offset interest rate risks on fixed-interest financial instruments. Interest rate swaps are primarily used as hedging transactions.
>Yes because discrimination doesn't end at the village level. lol.. yeah right.. son/daughter of IAS/IPS officers will routinely get denied entry to a hotel because of their caste.. so much casteism everywhere.. > So you're openly advocating for fascism? Gotcha. Since for you everyone is a fascist, what else can I advocate for?
>Son/daughter of IAS/APS officers deserve quota seats because some hapless villager has to face "castism"? Yes because discrimination doesn't end at the village level. > And I would have no problem with it if it were true.. and god I wish it were true.. in reality BJP is such a pathetic party that they are not even good at fascism.. not uniform civil code, no NRC, Unable to kick-out illegal Bangladeshi/Rohingyas, Unable to stop massive religious subsidies to muslims, failure to reign in archaic madarassa system.. the list goes on.. They need to learn fascim from maino family.. she stopped conversion of NE christians into Jewish faith without any fuss.. So you're openly advocating for fascism? Gotcha.
>You're implying that casteism was a thing of the past and doesn't exist anymore Son/daughter of IAS/APS officers deserve quota seats because some hapless villager has to face "castism"? > multiply it by 100 and you could attribute that to the BJP. And I would have no problem with it if it were true.. and god I wish it were true.. in reality BJP is such a pathetic party that they are not even good at fascism.. not uniform civil code, no NRC, Unable to kick-out illegal Bangladeshi/Rohingyas, Unable to stop massive religious subsidies to muslims, failure to reign in archaic madarassa system.. the list goes on.. They need to learn fascim from maino family.. she stopped conversion of NE christians into Jewish faith without any fuss.. > And why do the citizens of our country vote for the more extreme fascist? Answer is simple.. one is our fascist. The other is someone else's fascist.. One fascist group claims it wants to make India Superpower, the other one goes to pakistan and touches feet of their military jarnails.. and goes to china and gets into secret agreements with CCP. I mean, is it even that hard to choose? lol..
I want to believe in India's potential, but when I tried to get deeper into this topic (for modern India's history: *India after Gandhi* by Guha and for a more technocratic approach to 21st century India's problems: *Reimagining India* by Nilekani), the problems are either insurmountable, or addressing those problems to just *begin* taking on big challenges of a contender of world leader, can take decades, if not centuries: * impending ecological (and possible political) disasters: it's already really bad. Temperatures are above 40 C in summers, high humidity, massive, prolonged blackouts, shortages of all kinds: from food, water, good raw materials to develop reliable infrastructure to lack of a *true* technological imprint (no sign of competitive semiconductor fabrication plants). And these deficits are only increasing. Population burden is large enough already. Even with the tapering in birth rate, it will take decades to make it sustainable. States are busy fighting with each other, hoarding what resources they can. Not as deeply polarised as USA, but not really as coherent as a potential leader nation should be. * massive loss of state businesses to China: some northern states, that had established industrial centers, have already gone bust decades ago, because China kept undercutting them in prices. Others are now subsidising businesses, creating huge budget deficits. So forget about actually become a destination for businesses, most are just struggling to survive. *If* China implodes from all its covered up crises, maybe Indian businesses will be revived again. I think part of the reason people voted for this current PM twice, was primarily this yearning for expanding India's entrepreneurial base. * general corruption, aversion to technology, and financial handicaps: still impossible to set-up businesses without paying huge costs in time and money, to an intricate corrupt network, from the peon to the IAS officers and politicians at top. Pace of digitisation is glacial slow. Smartphones accelerated that, but the stronghold is still some domestic (and Chinese) businesses. Sometimes there's still a lag of 10-15 years in technological development compared to West. Facebook is still a thing lol. Even after all that is sorted, the money to do that is scarce. RBI, central bank of India, [has burned through its USD reserves this year](https://www.ft.com/content/1f1396a9-d06b-4e6b-82c9-5e1ade910a68), and I think no official swap lines with Feds, compared to what Feds have with developed countries. There are still signs. It's not like a complete disaster zone like many other parts of the world. But it's no way near a "leader" of any sort. Just a very ambitious, democratically still stable, and an eager player among developing economies. If India can manage to open even a *trailing edge* semiconductor fab plant in this or next decade with a STM or some similar private business, it will be a massive win. Now that western economies are finally trying to wean off their addiction with China's outsourcing, they are thinking about it. But nothing concrete yet.
> IAS 2 Is that the one that says "Net realisable value is the estimated selling price in the *ordinary course of business* less the estimated costs of completion and the estimated costs necessary to make the sale." I trust "ordinary course of business" is defined somewhere in a way that ensures that businesses everywhere apply judgment consistently, accurately, and in the absence of strategic consideration.
Inventory is held at the lower of cost and net realisable value. IAS 2.
They'll likely speak more to that, but as an avid follower and hobbyist investor it's mostly contributed to the automating of a lot of processes. For example, a lot more can be done by guests within the app that are meaningful in terms of growing revenue efficiently ie. mobile ordering, Genie+/IAS/ILL purchases, merch purchasing etc. The closures in 2020 gave Disney a chance to overhaul their park experience in the most profitable ways imaginable.
I do own MSFT but I agree. AWS is the margin crown jewel for Amazon. Microsoft and Google can afford to slash prices to get more market share from AWS. They both print money from existing high margin businesses. MSFT does do some funny accounting with their "cloud" revenue though. O365? That shouldn't count or at least they should further break it down into SAS office vs traditional IAS/PAAS cloud revenue.
$IAS just partnered with $FB. If you believe in the metaverse and like money, easy buy especially since it's near ATL and low share float
We have come a long way from a standards standpoint…. IAS 19 is for Employee Benefits. It’s a mixture of finding the present value of the future pension obligations, current pension assets and liabilities and the actuaries who are much smarter than me running all these numbers to provide reasonable estimates for required funds today. As an accountant, I don’t have to do the super complex calculations myself, we have actuaries who do these for us but I do have to forecast for some of this without their values. Our org has a defined benefit pension so it’s a bit tougher than a defined contribution as we are obligated to pay fixed payouts regardless of the pensions plans performance.
I’m not denying that a lot of people amongst are nothing but animals. I have a close to a dozen rental properties so I know more than most how bad and terrible people are when it is not their property. But that’s a common denominator amongst hotels and airbnbs (there may be more items that guests can ruin at an Airbnb than at a hotel - both because of the number of accessible items and lack of onsite oversight). Yes. Absolutely. You encounter corruption on a very small scale on a daily basis. But the government officials in India are usually paid a pittance back in the day but the jobs used to have security. So people didn’t mind working for low wages. But because those positions had power and influence, they rationalized corruption. That’s why I always looked at them like wait staff in restaurants. They get 2$ an hour in wages so they make it up using tips. The moment you think of these bribes as tips, it doesn’t hurt you emotionally and mentally as bad. (You need to be an absolute genius to bag a government job. Put differently, it’s easier to become a Fortune 500 company CEO than it is to become a civil servant in India (IAS) - over a million graduates write an exam and go through a battery of interviews to be part of some 50 posts so you can understand the competition. And imagine those guys with 10 years experience on job getting paid less than an Amazon IT employee in the second year of the job. That will help you why corruption is so high. TL;DR: think of India’s low level corruption as tips that you give to wait staff in the US because they are paid so meagerly - for your own sanity and avoid the feeling of being ass raped.