Hugh - I can't imagine why anyone would even begin to worry about white wash rules on this stock.... either hold on to your shares until the bow of the ship hits bottom, or jump now, and don't look back. It's a little too late to be thinking about tax strategies. The only thing anyone has of value is the shear number of shares they own.
It's pretty clear that Paul is planning a reverse split on INCE, which will more than likely only further tank the stock. It's also pretty clear that the market has made a judgement about the likelihood that Paul is ever going to allow INCE shareholders to get their hands on the supposed benefit they have inherited through the creation of NPCT. As so many others have stated on the NPCT and INCE boards on WWW.Ragingbull.com, if the fanatics who believe so wholeheartedly in NPCT believed that Paul is an honest and sincere man, then they wouldn't be buying NPCT at $3 a share. They'd be selling every asset they own and buying INCE at $0.08 share. Even in the face of a reverse.
Even in the letter Paul M. wrote through Kathy Knight-McConnell on the Raging Bull thread explains clearly the "paper" value of INCE, if INCE was to be properly valued, given 70% ownership of NPCT's current market cap. (and assuming INCE could afford to exercise their right to convert 100 preferred shares of NPCT at $0.32 into another 7+ million shares of NPCT common).
Some say that the market will buy into INCE once a reverse takes place, and not before. This argument makes no sense, and I don't even need my MBA to figure that one out. If everything is on the up and up, then a reverse does nothing to one's total cash commitment except change the number of shares, and reduce the shares outstanding, which is supposed to drive the price higher based upon the simple economic theory of supply and demand. UNLESS...the common thought it that INCE's share price will only further suffer after the split...then you wouldn't want to be on the wrong side of that transaction.
As always, Paul is promising to save the day, and make everything right. He apparently is saying that he's working on financing and a deal? to help rebuild INCE too.....
I'm entitled to my hard earned opinion in this area, as many others are too..... I'll believe it when and if I ever see it!!! If the past 3 yrs have taught me anything about Paul Meztinger and INCE's warped management style, it's do not trust anything that is said off the record. Put it in writing.
My sister had an alcoholic husband who used to beat her in front of their daughter (nice legacy huh). INCE is a lot like being married to someone like that..... The promises keep coming -- and they're often so convincing....you just want to believe the future is not going to be like the past. The promises go something like this... "this will be the last time", "I'm going to get help", ....or in our case, "funding is coming", "offshore buyers are lined up", "a deal with ABC Co. will be announced by X date", "the potential for this technology is X billions of dollars"..... but in the end, they're all just words. And there are a lot of broken lives as a result of the broken promises.
For those who want to, you ought to sign up for Raging Bull, and share some of your hard earned wisdom about the company we've so unwisely invested in. WWW.Ragingbull.com is free. Perhaps a more balanced conversation on those threads would help potential investors make a better determination of whether or not NPCT and INCE are good investments. |
