THE GOLDEN SHELL

[glenmorangie3]

ITRM might be worth a look at again.

About 2 years back the guys on the ITRM board thought that Kip Eardly(CEO)might be ready to merge with a suitable candidate (based on e-mail responses with Kip - he was looking for companies with rev between $10m - $30m) then nothing happened. The price ran to .11 based on the speculation and then back down to its current levels where it trades today (.008).

For about 18 months no one has been able to get in touch with Kip (e-mail or by phone) until a couple of weeks back where a board member managed to get him on the phone and had an encouraging conversation with him (still talkig about a merger with a $20m candidate) also in the last 2 months the Company has 1. filed an annual report (Angela Ross added to the officers list - paralegal who works on mergers) 2. had financials audited for the first time (covering the last 2 years) 3. A ITRM web-site seems to be getting worked on.

If you go to the ITRM board and start reading from 6631 you will find what has been happening recently.

A/S is 50m , current O/S 27m (I believe the float is circa 5-6m - kip owns the rest).

Not saying a merger is going to take place next week but positive moves are starting to take place.


GM