IMMM ( I'm Mad Monk) Message Board

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Microcap & Penny Stocks : IMMM ( I'm Mad Monk)

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To: Zeev Hed who wrote (1282)	7/4/1997 8:56:00 AM
From: alchemy	of 1480

Hello Zeev: Your downwardly spiralling prediction of a month or so ago has so far proven true. You also warned us of the potential danger of Reg. S shares which is now very real to me with the involvement of the Indonesians and the company's tight-lipped stance on current float vs. shares still in the treasury. At that time, we were told that there were no Reg-S shares, but this was not provided in writing. With the appearance of the Indonesians and Paul Ebeling rising to vice chairmanship, it is obvious that there has been a sea change in terms of ownership. The real question is does your scenario make sense on the basic fear/greed level of the individuals involved. Who benefits from the worse case scenario that you propose? Not Ebeling. Who wants to hold worthless options, if that is his cherry in this deal? It doesn't make sense. How would this scenario benefit Dr. Stamm? His technology's first commercial test would be considered a huge flop if this company augers. How would it benefit the Indonesians? They are not known to dispose of money freely. Quite the reverse is true. Personally, I see a lot of maneuvering to benefit from something tangible. Peter Boonen will apparently be pursuing his claims because there is a possibility for value somewhere at the end of the tunnel for him. Patroclas (Dr. Stamm) is elbowing in for a bigger piece of the action because it perceives some value in the meal. The Indonesians have plunked down some change to get a place at the head of the table. UPR is remaining stoically indifferent, but still willing to let NAE to drill on their land. All of these parties have more to gain from a substantial increase in share value than in sabotaging this company. I am not discounting your analysis entirely. I have way too much respect for your talents. Clearly, we have experienced a concerted campaign by someone to weaken this stock over the past two months. I agree with your assumption that we have experienced a huge dilution. The current management fray raises a huge red flag. Peter Boonen's issues are substantive. Jesse Taylor's resignation speaks volumes. If we are playing chicken with the people who are controlling this stock, the question is how low can it go. The answer is $.001. I am betting that we are close to the low point. Reading a bottom is very risky. If the company does not release news about the status of the first two wells within the next month, you will win a convert (albeit a poorer one) to your analysis. marty

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