To: skinydipper who wrote (2648 ) 3/20/1998 1:52:00 PM From: Barbara Read Replies (1) | Respond to of 3358
Fellow Shareholders ---Some thoughts on Subject INCE/NPCT It seems to me that most things can be interpreted differently. Most of what I have read lately about INCE, NPCT and Paul Metzinger seems to be negative. These comments come from people who have not walked in "his shoes." As I understand it, Cheri Metzinger has approximately $400,000 invested in SUNY, now NPCT. Isn't this "putting your money where your mouth is?" Surely, I am as unhappy as anyone about the price of the stock. I too, have many shares about which to be very unhappy. Running a totally undercapitalized company (especially a Public Company) is a horrendous task even if tremendous problems were not inherited from former management. Maybe a lawyer is what is needed for INCE. My personal experience with lawyers is that they do not work for free. Maybe $210,000 per year is a lot. However he has raised over $3,000,000 of outside capital (that went into the Company) on his name and personal reputation while shareholders who took a "flyer" on market shares, (money that did not go into the company.) At this time it would not appear that $0.3750 and $0.50 share options have much value. How do they hurt us? Surely, we have experienced a terrible setback and loss of share value,. Most people would elect to walk away from this much trouble. (old management certainly did.) Paul Metzinger took over in May 1997. Dr. Bauer, who found and recruited Dr. Neuhause (PIC) and Gil Olachea (Sigma 7) was introduced to INCE by Paul Metzinger. Sigma 7 has been a tremendously expensive re-do but now might be able to actually produce if it's umbilical cord is not severed. It would be awfully difficult to continue to rescue the companies with newly solicited funds when the shareholders who have the most to gain are so vehement and engage in what appears to be character assassinations by way of nasty memos. There are so few people who can raise funds under such duress. It is my understanding that an attempt to fund NPCT is underway and I would guess that Sigma & will be funded as part of this financing. Perhaps Paul is thinking of rolling up everything???? If we end up with NPCT shares which would hopefully contain PIC and Sigma 7, it appears to me that our chances could be much better than expecting INCE to go back to $5.00. IF I had put together a deal where INCE took PIC that was stymied (no money) and INCE received 14,5000,000 shares of a company that is selling for over $1.00 per share and hopefully will raise funds to save the two remaining assets of INCE, If I had the money, I probably would take more options at the lowest price possible. I cannot be happy with the shares at this price, but I do appreciate the fact that someone is "hanging in there" and comments about lawsuits will not help anyone.. Barbara Drew