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

To: Scott H. Davis who wrote (3067)	10/11/1998 1:32:00 PM
From: Bill Pearson	Read Replies (2) \| Respond to of 3358

Scott - I'd have to go back and look at my 1997 Daytimer to see when exactly I sat down with Paul and Gil at Sigma 7 in San Diego, but we're clearly beyond the year mark. But, that's not what bothers me the most. What bothers me more is the fact that approx. one year ago Paul had told me, and other INCE investors, on several occasions, that negotiations with "potential alliance partners" were nearing conclusion. More than once we were told that the legal docs were in the hands of the lawyers; I felt lead to believe a deal was imminent. It's no secret that the name mentioned during those conversations was Molex. And the timeframes discussed were last Thanksgiving, last Christmas, the end of the 1st quarter (calendar year, not fiscal) 1998. I find it kind of funny that NPCT is making it seem that their current strategy to proactively seek out production alliances (royalty partners) is "New". When the PI founders were canned, and the PI facility was liquidated for pennys on the dollar, the decision had already been made to never produce product internally. The supposed strategy to license the patents was initiated well before NPCT came into existence, or Gil Olachea became CEO of NPCT. I hope NPCT can license the technology, but according to Gil (in prior conversations when he was at Sigma), he felt it was going to take a couple years for the market to catch up to the PI processes. The need exists....that's why so many of us put so much of our personal savings into INCE; to capitalize on the 100% ownership of the PI technology. But I don't think it was ever realistic for INCE mgt to tell investors that there was an imminent contract at hand. I think statements to that affect were misleading, at the very least. I'm also surprised that the average NPCT investor doesn't find it strange that INCE/NPCT continue to spend millions in SG&A expenses when there are less than 10 employees and the technology has been in the can for years (meaning no additional R&D has been done on the basic technology since INCE bought the patents). INCE/NPCT owns no real property, has fewer employees than a typical corner gas station, and is not making money.....yet there always seems to be an ongoing new stream of seemingly justifiable expenses, mostly brought about by the regeneration of the corporate structure. I just wonder when INCE/NPCT management will do something other than sell stock, and merge with "clean shells".