IIE:CA V.IIE

Financings with warrants still in play INFO

[Tommer3]

Reviewed the outstanding warrants I looked back at all the financings with particular interest to warrants still issued and outstanding. There are 3 financings with warrants still in play. Mar 20, 2006 – 10 million shares at an exercise price of 10-cents (Expires Mar 20, 2007) and no accelerator clause. January 16, 2007 – 35 million shares at an exercise price of 15-cents (Expires Jan 21, 2008) Option to accelerated expiry date if the Shares close at a price greater than $0.20 for 30 consecutive trading days February 12, 2008 (Announced recently) – 5 million shares at an exercise price of 10 cents (Expires 12 months after closing of financing) Summary: 10 million (10 cents) – expires next month March 20 35 million (15 Cents) – expires next year January 2008 5 million (10 cents) – expires approximately February 2008 50 million – and if exercised in full will add over 6 million into the treasury $6,750,000 ***** As I mentioned last night – here is the snap shot of warrants still in play! Regards, Tommer3

[chuckles37]

Tommer, would it be safe to say that this stock will be trading close to it's all time high stortly?

[art27]

I think its all time high of $0.65 was back in 2002. Lets hope for a new high like $1.2 ? That would be really nice. You see, if we have a nice competent managers and not DORKS who just print more useless paper then they would be happy and we would be happy. Plus, if the SP were higher lets say $0.50+ then you don't need to dillute the stock so much. I think they did a smart move for now to do

[Red_Deer]

TOMMER__If your dates are correct then it looks like the first two warrant issues have already expired and likely didn't yield any cash to IIE coffers?

[Tommer3]

Thanks RedDEER - you are right my dates are wrong - I fixed it below.... Reviewed the outstanding warrants I looked back at all the financings with particular interest to warrants still issued and outstanding. There are 3 financings with warrants still in play. Mar 20, 2006 – 10 million shares at an exercise price of 10-cents (Expires Mar 20, 2008) and no accelerator clause. January

[UKhedger]

Well, Tommer, I for one hope that the shares don't trade north of 10c by March 10th so we don't get diluted by another 10 million shares down here. 10 million!!! And 50 million if all warrants are exercised, just to raise $6mn? That's a 50% increase in shares o/s!