Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : IDCN - gold, garnet, etc. -- Ignore unavailable to you. Want to Upgrade?

To: Mr Metals who wrote (245)	8/13/1998 4:52:00 PM
From: Sojourner Smith	Read Replies (1) \| Respond to of 5908

I am confused... Mr. Metals do you like IDCN again?

To: Mr Metals who wrote (245)	8/13/1998 5:14:00 PM
From: Coolbreeze	Read Replies (3) \| Respond to of 5908

I have spoken with Jeffrey on two seperate occasions and here is my input per our conversations... 1. Currently 47,042,116 shares outstanding with another 10,000,000 shares being issued upon completion of financing. However, 25,000,000 shares will be restricted (15,000,000 shares restricted until June 2,1999; the final 10,000,000 will not be tradeable unless converted into common under Rule 144 but still not tradeable for a period of no less than 12 months). The other 8,000,000 shares were issued under Rule 504 Reg D. Which leaves us with a total of 24,042,116 shares tradeable. Also consider the up to 10,000,000 share buyback, this would bring the total down to 14,042,116 shares tradeable. 2. The reason for the stock buyback is the ridiculously low share price. The buyback will start to occur when financing is completed. The company is positioning themselves to make some money. They are to be buying shares back at prices up to around .30 per share (the reason for the up to 10,000,000 shares (they don't want to buy back to high)). 3. CMI is a IR firm that is currently working with IDCN and brought in an offer from a group of investors from Belgium and Switzerland for the buyout. IDCN is going to have a meeting next week (I believe it was Tuesday) to discuss the offer. Keep in mind that IDCN feels this offer is very undervalued and IMO will reject it. 4. The LOI for the Garnet sales are going to happen as soon as they can get all the equipment to the property and start excavating. Expect to be delivering first shipments around the end of the year. Also, the company is expecting net profits from this operation to be around 8-10% (this would give IDCN approx. .01 EPS to the bottom line. 5. The company has not stated that there are 6-7 million ounces of gold in them thar hills. Based on trenchings (which are known to run high) and taking this into consideration, the company believes 6-7 million ounces is not an off the wall estimate but just won't know exactly until the Bulk and borings are done. 6. Jeff states that he personally feels that the company is extremely undervalued at this time and sees $6.00-10.00 per shares as a reasonable estimate in the near future (within 6 months). Hope this info helps clear some things up a bit!! Good Luck to ALL!!! CB