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Microcap & Penny Stocks : IMMM ( I'm Mad Monk)
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To: bob who wrote (1304)7/5/1997 7:07:00 AM
From: M. M. Jones   of 1480
 
Bob,

You make a good point. I think Michael's point is even if they have found oil in three wells, at this point it still wouldn't prove anything about the Em Sounder's effectiveness. If they've found oil, that will translate to the bottom line, however.

IMMM has made predictions on how many finds they are likely to get out of 50 drill sites. These predictions must be based on a calculation of EM Sounder's effectiveness as compared with the usual methods of locating likely drill sites. Michael points out that until all 50 well sites are drilled it will be impossible to know if the finds are due to the EM Sounder or if that technology has not made any difference at all in the success or failure of the drills.

I'm glad TWEST and others have written to the SEC, etc., regarding the dilution of shares and the lack of information that is forthcoming from the company. Surely there are standards a public company has to meet that IMMM (NAMX) is violating.

Regards,

M.M.
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