iPackets International Inc. (IPKL)

[Californicator]

Posted by: dave37857
In reply to: None
Date:11/29/2006 10:53:03 PM
Post #of 8115

I called Mr. Kanno today and had a good conversation with him. He said that everything is on schedule as best as it can be. He said the Chinese and North Americans think and make deals and make contracts quite differently. That makes sense after all we are a world apart. Mr. Kanno said that every i must be dotted and every t must be crossed by both ipkl and the Chinese. Neither party wants any stones left unturned which could present problems in the future if even years from now. This is why there has been a delay in the JV coming together however it is very close to being finalized and signed so that the equipment can be placed in the mines and be fully operational. My guess is maybe three weeks but could be sooner or later. Something very interesting he said was that when there is a mine disaster the mine operator is held responsible and ends up being punished for the disaster. Consequently the mine operators are begging for the equipment. There are many mine operators in jail and many are fugitives. That means we have a captive audience and a very eager one at that. On the dilution topic he is not happy with it either but until there is revenue it is a necessary part of the business. I think revenues will start when the certification and JV are signed because I bet all the mine operators are watching this too. I believe that the equipment has been tested and is fully functional. I think once its approved there will be a mad scramble by mine operators like ants on sugar syrup. Patience is the name of the game. Any day could be the day so every day that goes by we are one more day closer to the JV and certification. For those that don't have the patience or stomach for the ups and downs the best thing you can do is sell your shares and put it in a 5% CD and pay little taxes on the meager interest earned. For the patient shareholders hang on stay aboard and laugh paying taxes on huge profits in six months or 3 months or even one month. Profits and huge profits are on the way for the strong-of-heart holders. JMHO GLTA
dave