Intl BioChemical Industries Inc fka IBCL

[GGraessle]

Girante,

I am in agreement that the company has a legal duty to inform shareholders of material events. Of that fact there is no doubt.

However, I am not in agreement with this line of yours:

"PS it would be a material event for Avi to convert the first 2 million shares of his warrants. If it has already occurred, he has 10 days to submit a form 13G."

IMHO MCVI does not need to file anything anymore concerning those warrants. The 13-G was already filed on 3/1/02 reflecting BENEFICIAL ownership of the underlying shares.

IMHO if any warrants are exercised by MCVI that information will show up in the quarterly report under "cash" and look for a line item that reads: "Exercise of warrants and stock options".

GG




The best weapon against "fear" is "facts"!