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

To: Juli who wrote (2820)	7/25/1998 3:35:00 PM
From: Joe Copia	Respond to of 3358

am sure you are right in the short term, but when the shares from the convertibles start hiting the market, you will see a different story Well I can wait 13 months before that happens and I really like the fact the NPCT "can dictate" when the financiers buy !! Joe PTG&LI !!!

To: Juli who wrote (2820)	7/25/1998 3:46:00 PM
From: Bill Pearson	Read Replies (1) \| Respond to of 3358

It will take a heck of a lot less time than 2 yrs for NPCT to burn through $8.5 million, given the way INCE/NPCT historically spend money on SG&A. There were some years where they went through significantly more than that in a yr. This won't be the last time NPCT goes to the well. Once the share price is up, NPCT can print money by selling just a couple hundred thousand shares here and there to support their mounting expenses. That's why companies go public....so I'm not knocking NPCT. Public companies go public to have better, cheaper, faster, access to capital. The only problem with floorless convertibles is that they rarely produce longterm value for investors. Add on the possibility of selling more shares outright to the open market through a secondary, and the dilution mounts. I wonder if NPCT can actually sell something to someone and get paid for it before the PI Technology is leapfrogged. NPCT remains an emerging technology company through and through, and the odds are against them that they'll succeed (simply because they're a start-up). But this is really a non-issue in the next few months since the stock will trade on momentum, a narrow float, and pure speculation. This is going to become a traders "goldrush" stock in the very near term.