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Microcap & Penny Stocks : INCE - Intercell info??? -- Ignore unavailable to you. Want to Upgrade?

To: Juli who wrote (2661)	3/26/1998 12:15:00 PM
From: Bill Pearson	Read Replies (1) \| Respond to of 3358

If Paul does this again.... you mean when. He is in the process of raising millions for NPCT (for what reason I'm not sure) via the sale of preferred shares.... Given INCE's track record (and that of their long standing securities attorney - Paul) I'd say we have a pretty good chance at seeing some sort of convertibility option on the shares he is now marketing. INCE supposedly owns 70-75% of NPCT right now. In conversation with various shareholders who have spoken with, and/or met with Paul recently, Paul is stating that by the time INCE shareholders get NPCT shares (if and when that happens) INCE will spin off roughly 50% of NPOCT stock... I'm assuming that means that this time next year INCE is not planning on owning any more than 50% of the NPCT stock. If what we're hearing is accurate, and doesn't change, INCE is going to be selling (e.g., diluting) INCE shareholder interest in the PI Technology another 20-25% in the next 6-12 months in order to fund whatever capitalization build up Paul is now pursuing. I sure do wish someone would explain to me why NPCT needs to raise money in the first place, especially millions of new dollars. NPCT's stated mission is to NOT produce anything, but to license and re-license the PI technology. And if the goal is to raise money on the NPCT side to fund Sigma or any other part of INCE's operations...guess what, that's an illegal use of funds. So, I assume that's not Paul's goal. I'm sorry if some feel I've departed from the "party line"...but I've always been willing to call a spade a spade. When Paul appeared to be working on our behalf I praised him - OPENLY and often. When he starting changing directions - OPENLY and often.... I too changed my view of the situation. I'm only one insignificant voice in the woods... crying out into the darkness. I may not be right, and I hope I'm wrong...but something is not right here when the shareholders keep getting diluted and the CEO keeps getting more shares placed into his own pocket.... I'm not so sure our leader is the saint some make him out to be...and maybe he's not as bad as I think either...Most likely he's somewhere in-between. But, I wouldn't recommend this stock to anyone, regardless of what positive effects Paul's near term actions may or may not produce.... From what I can see, other than Sigma 7 (as a direct result of Gil's honor, integrity and hard work) it is unlikely INCE will become an operational company anytime in the near future (1-2 yrs.). Again, I hope I'm wrong.... all I want is my original investment back...and I want off this silly ride. Bill