A significant portion of Intermap's revenue is expected to come from customers outside of the United States and is therefore subject to additional risks, including foreign currency exchange rate fluctuations, agreements that may be difficult to enforce, receivables difficult to collect through a foreign country's legal system, and the imposition of foreign-country-imposed withholding taxes or other foreign taxes. Intermap relies on contract prepayments or letters of credit to secure payment from certain of its customers when deemed necessary. The Company has in the past secured export credit insurance on certain of its international receivables, which greatly reduces the commercial and political risks of operating outside of North America.
Intermap understands that not every region enjoys the political stability that is taken for granted in North America. Developments in recent years in the Middle East, Asia, and other parts of the world illustrate this clearly. Political or significant instability in a region where Intermap is conducting data collection activities and any of its other services, or where Intermap has clients, could adversely impact Intermap's business.
SOURCE Intermap Technologies Corporation
|Intermap Technologies Corporation
Intermap Technologies, Rich Mohr, Senior Vice President & Chief Financial Officer
Email Contact +1 (303) 708-0955; Canada - Financial, Cory Pala, Investor Relations
Email Contact +1 (416) 657-2400