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Gold/Mining/Energy : Image Power (IPZ.VSE)

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To: tom who wrote (58)	2/15/1998 2:44:00 PM
From: Gary S	of 383

Tom, Actually, there were 2 news releases last week: Investor relations agreement Image Power Inc IPZ Shares issued 17,405,812 Feb 10 close $0.24 Wed 11 Feb 98 Miscellaneous The VSE has accepted for filing the investor relations contract between the company and Mr John Geisler, dated December 8 1997. Mr Geisler will be paid $5,000 per month until December 7 1998. ---------------------------------------------------------------------- 703,125 shares at $0.32 Image Power Inc IPZ Shares issued 17,405,812 Feb 12 close $0.24 Fri 13 Feb 98 Private Placement The VSE has accepted for filing a non-brokered private placement of: No. of shares: 703,125 Price: $0.32 Placees: Ancilla Technologies (Phillip Swift & Wayne Embree) Finder's fee: n/a ---------------------------------------------------------------------- Today, Deadlock had some interesting comments about IPZ: IMAGE POWER (IPZ:VSE $0.25) <http://www.imagepower.com> Featured these guys a couple weeks ago at $0.26 as they have some of the leading compression technology in the industry. An extremely impressive company but one that will require patience. Personally with all the stock coming out over the past couple months we were wondering if they were using their technology to print $0.25 paper ! We expressed this concern directly to them but they are as frustrated as us. Appears this was far from a clean shell when they did their reverse takeover a couple years ago and many are getting impatient. Insiders have been picking up all the stock they can get their hands on (approx. 3 million over the past few months) and the Private Placement announced Friday at a 30% "premium" to the market (0.32) demonstrates their believe in the company. They are currently under a confidentiality agreement with someone and were hoping will be in a position to make an announcement in 4-6wks with respect to this. At that time and possibly before we expect to start moving into a gain position.

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