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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Joe Hartenbower who wrote (29989)1/19/1998 6:07:00 PM
From: Gerald Walls  Read Replies (1) of 35569
 
And there you go again OH.... >> the $1 million frittered away. << You can't possibly have all the facts and yet you are assuming. Shame, you know was ass u me means, don't you.

And what do you know that makes your ass-u-mption that this was a good thing different? This company has done nothing to deserve the benefit of the doubt.

So far your defense of this cash syphoning is:

1) We don't know why they did it so it must be good.

2) They're going to make so much off the interest-free "loan" later converted to stock that they can finance their operations with it.

3) The money funnled to the Nabimian directors will allow them to invest in IPM.

4) It doesn't matter because $1,000,000 is insignificant compared to the billions in the ground that they can't extract yet and may never be able to if they don't have money to spend to develop an extraction process.

5) The fact that these loans total 80% of what IPM raised with their last PP doesn't matter because the price is so low that they didn't want to raise more (ignoring the fact that they were forced [why else raise it at this time?] to raise this working capital in the first place, proving the $1,000,000 is significant).

Like I said, there's no reasonable argument that this "loan" was good for IPM.
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