On Raging Bull, Kathy suggested that we all wait to discuss the details of today's capitalization until the 8K comes out in early August. That's not a bad idea.... In the meantime, take a minute to read a post I made exactly 13 months ago (link below). I've been following this company, and analyzing it to the best of my ability for well over 2 years now. Try not to turn a blind eye to the past.
And keep in mind, I was INCE's biggest cheerleader (as loud or louder than even Chad Beemer, or Kathy Knight-McConnell) until in my opinion the old management team (of which the current management team was spawned), started acting against the best interests of their shareholders. At the time I wrote the attached post I was still a solid supporter of INCE.
(From Silicon Investor earlier this evening)
To: +Chad Beemer (2804 )
From: +Bill Pearson Saturday, Jul 25 1998 1:04AM ET
Reply # of 2810
<<<To: +Scott H. Davis (2796 )
From: +Chad Beemer Saturday, Jul 25 1998 12:37AM ET
Reply # of 2808
Come On,
I know that Conv debentures did the share dilution to INCE but
also remember that alot of damage was done before Paul actually
took over the helm of the sinking ship. He as least found a boat
to get you on to keep you from going all the way down.
I am very happy with what I know about this financing as I feel
PI will be sucessful and create substantial shareholder value
to all shareholders of both companies. He has passed the first
test of financing period. Now lets see what he can do from this
point. Continually attacking the man does no one any good. We
have been down this path before. I am ready for a new path.
How about all of you.>>>>
Chad - - Thanks for throwing Scott and me a bone when you recognize the obvious in saying, "I know that Conv debentures did the share dilution to INCE".
But, just because Paul wasn't CEO doesn't mean he wasn't primarily responsible for the destructive capitalization decisions made by the collective INCE management team. For goodness sakes, Paul was and is a securities attorney, and a very shrewd one at that.... , and he was INCE's main man when it came to legal issues, and issues involving raising required capital.
The fact that today's announcement mirrors INCE's previous capitalization practices is more than a little disconcerting to those who may have held some sort of hope that he had learned from previous mistakes.
Have you read my post from 13 months ago on this subject? This is not my first spin on this particular dance floor, with this specific partner.
Message 1649982
I can't hardly believe we're reliving this nightmare AGAIN.
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