To: Chad Beemer who wrote (2921 ) 8/13/1998 11:23:00 AM From: Juli Read Replies (2) | Respond to
TO ALL - I finally got a call back from Paul Metzinger this morning. I asked what are the plans for INCE. Paul told me that he is going to try to raise some funds in Switzerland and buy a technology out of Atlanta. I expressed surprise at this as he had said the reason for transferring the technology to NPCT was because he absolutely could not raise funds for INCE. He said, once he showed them the technology he wanted to buy, he thought he could get funds. I asked why, since the only asset INCE owns is the interest in NPCT, didn't he just distribute the NPCT shares to INCE shareholders and fold the whole thing into NPCT. He said he did not want to contaminate NPCT with INCE's past. Actually, fold into was probably not a proper way to put it anyway. He could simply discontinue INCE as a company, it seems to me. He said he was going to restructure INCE by doing a reverse split (no surprise there). He said once again that we was going to try to register some of the NPCT shares and distribute them to INCE shareholders. The key word here, I think is some. I told him it was a bitter pill to swallow, knowing that we as INCE shareholders had bought this technology with our hard earned money and spent millions more trying to bring it to market, and yet we had nothing but a promise on paper. At the same time, the SUNY shareholders were given free trading shares and some are in fact selling. He told me that only two had sold, and less than 100,000 shares. That was Zena Electronics(SP?) and Barbara (can't recall her last name). He repeated that they sold to improve the liquidity. I asked him how many shares of INCE does he own. He owns none at this time, but said his wife owns 500,000 shares that she has had since 1995. He has about 2 mil. in options at about .30 each. He told me he is starting to buy INCE and will soon be filing a form to show this.
