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Media Releases February 15, 2003Dear Shareholder, Part of our corporate mission is to keep our shareholders informed as to the status of on-going operations. During the Company's last Annual Shareholders meeting the Officers presented the various technologies, which had been completed (near completion) and/or ready for launch. The Officers also presented the shareholders with status reports outlining the financial requirements needed to move the Company forward and further explained that without this additional funding the Company would be unable to launch its services in a manner, which would result in a significant market impact or be in line with projected fiscal forecasts. Since this meeting, inCORP has attempted to raise this additional capital via, incentive offerings to its existing shareholders, the completion of a Private Placement Memorandum (PPM) and discussions with various 'Angel' investor groups. Unfortunately, these attempts have to date, been unsuccessful. Without this required funding in place, the Company has been forced to cease its daily operations and release all staff. As communicated in prior updates, this ceasing of operations is not a bankruptcy filing, as the Company has operated debt free. The present financial requirements needed to maintain a minimum level of corporate visibility (I.e. the various corporate web sites) are being provided through continued personal investments from the Officers of the Company. The Officers and Directors of inCORP are committed to its success and to the realizing of profitability for its shareholders and as such are and will continue to pursue other financing possibilities. It should be understood however, that these efforts would be made on a time permitting basis, as the Company has no means of providing remuneration to the Officers. To further on this point, in order to reduce costs, ease administrative requirements and increase the speed at which information can be disseminated, the Company will be posting all future updates, bulletins and notices on the Company's web site (www.incorpinc.com) only. Shareholders meetings are also indefinately postponed, until such time as the company continues it's daily operations. If you have any questions or concerns, please forward them via e-mail to investor.relations@incorpinc.com Sincerely, inCORP Technologies Inc. |
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