Replies to post #67738 on Indocan Resources Inc. (IDCN)

[iblong2]

No it wasn't very smart but I took a chance and rolled the dice and lost big time.

About fifteen years ago I made the decision to put my saving into penny stocks. I did this because I had a very sick wife with M/S and because of my health couldn't purchase enough life insurance to cover her care if something were to happen to me. The logic went that if she passed away before me I had sufficient income between my pension and SS to live on even if I lost everything in the stock market. After the dot.com bust in which my 401K dropped from ~$400K to $177K I put my money into penny stocks. This strategy seemed to be working, since over a three year period, I turned the $177K into $1.5MM. Then came the recession and through greed and stupidly I lost it all.

As it turned out, my wife passed away in 2009 from complication from her M/S and I have been living off my pension and SS. It is a good life as I have found a wonderful partner. It is now my hope (and dream) that through my IDCN holdings I will be able to leave something to my children and grandchildren and enjoy some traveling with my partner.

[iblong2]

I'm not sure of the exact rules but I think you need to have a 10% stake in the company before you have limits on selling and requirements for disclosure. The only person that I'm aware of that holds a 10% stake is the Bill Miller estate and as been stated on our website, the company has the option to buy back those shares. Right now I don't believe we have a board of directors so the only people that have disclosure requirements are the two officers of the company, Ken Ash and Larry Kau.

It is possible that I will join the board of the company if asked, but I wouldn't join the board until after a form 10 has been filed and other requirements were met. As a board member, I would become an insider with full disclosure.

I don't see how my disclosure that my average cost per share of $0.0009 would turn any investors away. With holding of several hundred million shares, I am a "real investor".