Nanopierce Technologies (NPCT)

[MMMARY]

Is CEO a con man?

This taken from June 97

"This acquisition furthers our strategy of acquiring proven technology in the electronics industry," said Paul H. Metzinger, President and Chief Executive Officer of Intercell. For the fiscal year ended Dec. 31, 1996, Sigma 7 reported $18 million in sales. BMI has 79 employees.

and then

Based on subsequent evaluations of the Antenna Technology by the Company and the review of the Antenna technology by an independent investment banking company, the Company determined that it was in the Company's best interest to
divest itself of the proposed design, development and production of the Antenna Systems conducted by its wholly owned subsidiary Intercell Wireless Corporation
("Intercell Wireless"), as well as the manufacture of miniature and non-miniature coils, transformers and other electronic assemblies conducted by its wholly owned subsidiary Cellular Magnetics.

So he buys a "proven" technology then states it's basically no good then gets rid of it. Either a liar or a bad CEO. I think he buys a "proven technology" which is just the kernal of a fantasy idea. He promotes and sells that idea which actually isn't worth anything. Then when it comes time to prove the technology works, he gets rid of it with the excuse that his bankers told him to get rid of it. If it were worth something, someone other than intercell would be buying it.



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Just say NO to stock fraud!