Response from James. Richard,
I suggested such a letter early on but I was overruled by Ken and
others who stated that it could cause a panic because a great deal of
shareholders who don't trade online have no idea about the
restrictions. The concern is that even though we could state that the
company did nothing wrong, the perception would be that maybe there is
something wrong with the company and the uncertainty will cause a sell
off. Our Angels (investors putting up millions of dollars for our
movies rather than selling shares on the open market) are seasoned and
experienced and advised Ken against this action. As you know, those
who have the gold, make the rules.
We have received some information from a source that I can not
disclose that in order to have the restrictions lifted, we would have
to go through with the RS. This makes no sense to me because MUME and
SEVERAL other stocks have restrictions and have nothing to do with an
RS. So far we are getting a lot of mixed signals from Brokers, none
of which make sense. It does appear as if the brokers took this
action at the request of the MM's. If I find out anything more I
will do my best to inform shareholders.
All the best,
James
On 8/10/06, Richard and Eileen Lepre <elepre@surfglobal.net> wrote:
> James, with this being almost two weeks of these online restrictions, and
> everyone being totally confused right now, and frustrated, what harm could
> there possibly be, in giving "all shareholders" a corporate update regarding
> the company's position, and what steps you folks are taking to get these
> restrictions removed? A complete lack of buying interest in IPRE, due to
> all the uncertainty regarding why this restriction was put on in the first
> place, and what you've done and are currently doing to get it removed, is a
> neccessity at this time in my opinion. Since the company and its
> shareholders are the "victims" here, clearing the air would really go a long
> way in helping investor confidence in this company. Best wishes as usual,
> Richard
>
>
>
