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Gold/Mining/Energy : Napier International Technologies Inc. (T.NIR) -- Ignore unavailable to you. Want to Upgrade?

To: J.Mcguire who wrote (562)	6/17/1998 9:56:00 PM
From: David in Ontario	Respond to of 2444

Spoke to Owen Hoffman of Aquasol today I spoke to Owen today in Calgary, Alberta and I'm pleased to report that `orders are strong'. The DD between Napier and Aquasol is `pretty much done'. I had a list of eight questions for Owen - but he told me that talks are at a `very sensitive stage' and that he couldn't provide direct answers or detail to most of them. That's understandable. What I can say is that both companies are laying the ground work for the future, they want to match production, and clarify responsibilities, clients, etc. ICI Devoe Coatings will be the single entry point into the worldwide market. There has been no notification sent to the Aquasol private shareholders for the formal meeting to vote on the merger (done deal by all accounts). They are now discussing when would be the best time to release the `News' which will contain the fundamentals that will include `gross and net revenue projections' - so 'xray' hold off on the P/E estimates until then. I hope that the News is released ASAP after the completion of the DD. It'll just be agony to have to wait for another 3-4 weeks as there is a legal requirement for a 21 day `notice of meeting' period and then the vote by Aquasol's private shareholders to formally approve the merger. Owen said that "he wouldn't even guess at a number", but said to refer to the April 21 News where ICI have proposed $1.6 million in sales for the first year. When I spoke to Ron Graham at ICI I asked him about that figure and he said that `we like to be conservative'. My prediction is that projected sales will be a tad higher than $1.6 mill - most likely a `huge tad'. The relationship with ICI is still young and it'll take a while to fully develop - understandable given ICI's mammoth size and global marketing presence. All Owen would say about anticipated earnings was `just refer to my SI profile' - which includes: Schumpter "The only true form of profit is the return on innovation. Every thing else is just rent." Owen told me when we first spoke that orders had been `explosive' since the April 21 news - told me today that the News would be `Well worth the wait'. He also mentioned that the internet forums are not the place for companies to promote themselves - hence no regular Owen, Jason or ICI guy posting here. However, they all seem to read them: Owen does, Jason does, and Terry Wiseman (Canadian head of ICI Devoe Coatings) knows what we say here!! I felt that Owen was just dying to tell me how everything was going and on what to expect ahead - but obviously he can't - have to bite that lip just a tad longer - must be just as much agony for those on the inside as the investors. He had no comment on my posting that referred to linkages to Ford, Amoco and Textron (parent of Cessna Aircraft) - Fortune 500's #2, #19 and #158 ranked companies. Please refer to SI's NIR Msg #546 where `I out them' :-) I'll try to touch base with Jason tomorrow - but he may be starting to tighten up a little as well now. That's OK - I can live with the News being "Well worth the wait". NIR - you go BABY!! Thanks for your time Owen. David in Ontario :-)