iPackets International Inc. (IPKL)

[dcbass]

I just spoke with Mr. Kanno. He says that he had hoped to update us this week, but we'll have to wait till next week. He said that everything went well on the trip except the food. lol.

I mentioned that I am in Washington DC and he said that he was invited to DC to meet with MSHA (Mining Safety and Health Admin) and might be headed this way in January. I told him that I hope to meet him.

Regarding cash, the JV won't be providing immediate cash so additional dilution is a possibility. He mentioned preferred shares being used which would be restricted, even if converted to common. He mentioned that some insiders (including himself) are shareholders. I think he was saying that some of them are going the preferred share route, but I don't want to quote him on that.

I look forward to next week's update.

B