To All SI INCE members:
I apologize to all for my temporary frustration. (reference my reply to Truman Bradley on June 30.)
I have reconsidered my questions, and have obtained some answers that I strongly believe. These answers hopefully will correct any misconceptions or doubts that my questions may have caused.
Obviously, as a large shareholder, I hope that the new management and the new companies generate income and the growth that is expected. I do believe Paul Metzinger is qualified and will do INCE shareholders a great job. HE NEEDS TIME TO WORK, AND CONTINUE TO ESTABLISH CREDIBILITY AND TO REPAIR THE DAMAGE FROM PREVIOUS MISLEADINGS.
I share with you my findings.
1) ITCO will register the shares tendered to INCE within one year of the closing, and INCE will require appropriate penalties requiring
additional units delivered if ITCO defaults.
INCE has agreed to distribute the units when registered to all common shareholders of record on the closing date which is projected to be July 17 1997 or shortly thereafter, unless
extended by agreement of the parties.
2) C.T.L. is in the process of moving in stages to avoid disruption of it's ongoing profitable business activities.
Sigma 7 is conducting it's business in San Diego and there are no plans to move elsewhere.
3) INCE is using Vancouver space pending relocation to Denver.
4) INCE is paying Industry Standard Compensation for core
engineering and marketing group
personnel to pursue it's recently announced change in PIC's corporate operations. The Company is attempting to sub-lease the space in Colo. Springs to reduce it's liability.
5) William Scott and Co. is under contract to INCE as it's independent Investment Banker and is paid Industry Standard Compensation. As an investment banking firm, I am told and believe Scott is not engaged in the sale to private investors or retail sales of shares, but focus their efforts on institutional investors.
6) Sonora Station is listed for sale by INCE to generate cash for corporate operations, particularly Sigma 7.
7) PIC owns 8 Patents and 5 patent applications and does not consider propertied interest in 1 patent to be materially detrimental to the value of it's intellectual properties.
In closing, I would like to say, that I believe Paul Metzinger is working hard to establish credibility with the shareholders and needs time to bring INCE stock prices back up with the new business of Sigma 7
and the favorable outlook on PIC.
Sincerely,
Barbara J. Drew aka, Samantha. |
