From Radomir:Dear Sharon: First, sorry for not writing last week as promised, but I have been very busy. Regarding Ken and Empire Relations, they currently hold shares in the company and are not actively working for Innotelco. The company plans to resume its relationship with Empire Relations in the future as soon as we complete first phase of our projects.
With regard to your suggestion about public purchase on the open market. This is something that the company is planning to do, but are waiting for the right time. To update our shareholders. The Director of Innotelco responsible for the North African deals has been working hard over the last few months in finalizing the deals for commodity products and cement. It was decided that revenues from the initial deals would be rolled over into future contracts until such time that the Banks that are handling these transactions are satisfied and which would then enable us to enter into bigger and more profitable contracts. Therefore, revenues from these deals will remain in the Banks in North Africa so that the Banks can gain greater confidence and enable Innotelco and it's partners to enter into even bigger contracts. Best regards, Radomir-----
Here is my message to Radomir...
Comments: Radomir: I sent the following e–mail to Kenneth Macoria. It is a follow up from last week requesting confirmation about whether he is still our Investor Relations representative. Can you tell me what his status is? The other day I sent you an e-mail requesting something I can put on our message board. It crossed my mind in the past and I did mention it to you a very long time ago that when we can afford it, a public purchase on the open market of ILCO shares be approved by the Board of Directors. This could be announced in a PR with the number of shares allowed. These would become treasury stock and complete two good things for the shareholders. It would reduce the Float and indicate the confidence of our management by investing in the company. This would be especially true at these current prices.
SharonB
As a result of this email. I am removing Empire from our iBox
until they are actively our IR reps. SB
