To: Dan B. Brockman who wrote (649 ) 3/11/1998 12:36:00 AM From: Geoffrey Read Replies (2) | Respond to
Indo Shareholders Interests are diluted again. I was just reviewing the latest news report from TOP (Trans Orient Petroleum) and noticed that Alex Guidi just exercised options on over a million TOP shares at around $0.23 per share. He is also buying 2.4 million shares of TOP in a private placement and getting 2.4 million options in addition to the shares in the private placement. While it is nice that TOP is getting additional funding, I noticed that INDO PACIFIC is sharing huge chunks of its landholdings to TOP. In effect sharing a third to half of Indo's own exploration rights. My thought is simply this- Mr. Guidi has a fantastic public relations arm that heavily promotes Indo Pacific stock. In many of those promotions the sites are declared to be worth potentially into the hundreds of millions or even billions of dollars. Question: Why doesn't Mr. Guidi simply buy more stock in Indo Pacific? Answer, because he can make vastly more money by starting new oil companies, gaining founders shares and options in the new companies, and granting the new companies large percentages of Indo-Pacific's holdings. The justification for all of these moves is that "it shares the risk of drilling on these properties." Mr. Guidi has continuously pursued this strategy. Unfortunately, it has no reality insofar as it doesn't benefit the existing shareholders in Indo-Pacific holdings in any way.
