Hugh - a sense of humor at this point is not a bad characteristic to possess.
I just sent a recap of what I think is happening to all those who have been long time posters to this board.
In a nutshell, I believe that what is unfolding before us is one of the only course of events that will enable INCE to come out of the last two years without following in ITCO's foot steps (chapter 11).
The primary remaining asset in INCE's bag is now "free standing" (as far as the stock market is concerned). INCE still benefits by owning 70% of the new entity that now owns the PI Corp. technology, but now there is an easier way to assign a "market value" to that specific asset/technology.
It is being speculated (by some) that NPCT's price could be as high as $5/sh in the next 30-60 days. Whatever the price becomes, multiply that market price times approx. 3 million shares and you'll come up with the "added value" Nanopierce will contribute to INCE's consolidated balance sheet.
Nanopierce's price won't defy gravity if they don't get the job done with one or more interconnect companies (e.g., signing strategic alliances in the next 60 days, as outlined in Paul's recent shareholder update). But, I have to admit..... I believe Paul has done the right thing.
We have to admit, the company we now own is not the same company we bought into.... we each bought in for different reasons, but the company we bought into never existed in reality.... Paul appears to be trying to salvage something from the massive explosion that we've witnessed in slow motion over the last 12-18 months.
Yes, you're right...I'm much calmer now about INCE, and Paul specifically.... I guess I've let go of my desire (or hope) to see a 300-500% gain on my initial investment. I'm not focused on the "real world" and the reality that is before us. I think we each (all those who bought in at $3-5) should be realistically focused on get out our initial investment, and I believe much more than I did last week that that is a definite probability..... assuming PI Corp/Microlink/Nanopierce can get a deal signed in the next 60 days.
I'm going to sit back and watch the story continue to unfold.... none of us really have much of a choice other than to do that (unless you want to sell for a loss and carry that loss forward for years and years).
If and when a deal gets signed with Nanopierce (which is a pretty descriptive name, given the "nano" piercing capabilities of the diamond plated surface of the PI Corp technology) we may be able to talk more positively, and with more conviction, about getting beyond simply getting our investment back.
Now...I'm going to say up front that the following comments are not based upon any conversation I've had with anyone at INCE. Since the S-1 came out last year I haven't spoken with Paul or Kristi.... so this is "my personal view" through and through.... Yell at me if you don't agree...not the company....................
I have come to the conclusion, especially in light of the recent shareholder update that outlined the "capital structure" INCE has inherited, that it would be next to impossible for INCE's long term investors to ever recoup their initial investment if INCE ever gets to having 60 million shares outstanding. Yes, the general concensus is that reverse splits are a sign of a financially troubled company/stock.....but I think we've finally come to the end of the road that we've been driving down, and I (personally)can no longer deny that INCE will eventually have to do a reverse.
In my opinion, for what it is worth.... a 1:3 reverse, as was just done with SUNY/NPCT is "what the doctor has ordered" for INCE. No one likes when it happens....I've argued this point with Paul several times in the past....but in order to move the company forward, and for the long term investors to get their money out (given the recent changes, in the last 24 hrs).... I don't think it can, or should be, avoided.
I'm not an expert on these matters, but I've analyzed this situation up and down for over a year and a half. if I was advising Paul I'd recommend an eventual reverse of 1:3. Yes, we'll have fewer shares (the same investment value)...but with less than 20 million shares outstanding, if NPCT and Sigma get their acts together, I think we'll see a fresh crop of investors come to the table and they'll buy INCE.
The past is the past....and I'm letting go of it. I want to move forward, and I think the path that INCE needs to follow is fairly clear.
For what they are worth - As always...these are simply my opinions.
PS: I wouldn't spend too much time analyzing SUNY's old financials....this isn't about SUNY, or any value they bring to the party, this is about the PI Corp technology, and INCE's need to separate that asset from the dog eared financial structure of INCE in order to be able to raise additional capital so the company can survive in the short run, and meets it's growth goals in the long run. SUNY was just a shell... It's much faster to merge with an existing public company than it is to do an IPO... and far less expensive.
Bill Pearson |
