Thread, here's a reply to a friend of mine who emailed IPM:
Forwarded message:
From: 102046.530@compuserve.com (David Kornhauser)
Sender: 102046.530@compuserve.com (David Kornhauser)
To: xxxxxx@AOL.COM (xxxx xxxx)
Date: 97-11-05 00:29:25 EST
Dear Mr. xxxx:
I received your e-mail today.ÿ IPM can appreciate the frustration that you feel in IPM not being in a position to release the information on the results of its independent verification program.ÿ Please appreciate, that when management issued statements at the shareholders' meeting regarding a proposed timetable for the completion of the independent verification program, it fully expected to be able to meet the timetable suggested by those statements.
To specifically address the questions raised in your e-mail:
1.ÿIPM has already announced the fact that delays had occurred in IPM
being able to deliver the results of the independent verification program. Presently, the wait is something that is totally beyond IPM's control. Both Bateman Engineering Inc. and Behre Dolbear & Company, Inc. have forwarded the processed samples to an industry recognized laboratory for assay analysis well over six weeks ago.ÿ To date, neither Bateman or Behre Dolbear have received the laboratory's analysis.ÿ As soon as Bateman and Behre Dolbear receive the laboratory's analysis, then they will be able to issue their report to IPM and IPM will be able to press release.ÿ IPM does not have any idea as to when the laboratory will complete their work, but IPM does believe that this will happen soon.
2.ÿAs stated above, there is really no new timetable, IPM is just
waiting for the laboratory chosen by Bateman and Behre Dolbear to complete the assay work.
3.ÿYes, IPM has contacted both Behre Dolbear and Bateman to inquire as
to why it has taken the laboratory this long to complete the work. Bateman and Behre Dolbear have inquired with the laboratory involved and are told that there is other work in front of theirs, and they will just have to wait their turn.
4.ÿAs stated above, this is not a matter of a more reasonable estimate
of time, just a matter of waiting for the laboratory to complete its work - it could be done tomorrow or next week for all IPM knows.ÿ The laboratory remains steadfast in its position that the job will get done when it gets done.
5.ÿIPM has advised shareholders during live contact of this situation
although no press release has been issued.
6.ÿIPM is considering issuing a statement to shareholders as to the
current status, but believes that most shareholders who are concerned about the delay have contacted the company in one shape or form.
If you have any further questions, please write or call.
Yours truly,
David Kornhauser (Corporate Secretary) |
