X-Message-Number: 6558
Date: 19 Jul 96 01:38:23 EDT
From: Paul Wakfer <>
Subject: Re: Alcor statement on Prometheus
I wish to thank Alcor's Board of Directors for giving serious
consideration to the Prometheus Project, for their expression of support, and
for their agreement that "research on brain cryopreservation is essential for
the success of cryonics". That is, of course, the basic premise of the
Prometheus Project.
> Alcor might consider investing in a company which assembles such a program
> and might consider accepting directed donations from members to provide
> such investments after Alcor's Directors have the opportunity to study
> certain additional information
It should be pointed out that at no time has any organization yet been asked
to accept directed donations. Since no money is being asked for or wanted
(except possibly small amounts to offset the costs of the pledge campaign)
until the entire $1M per year is pledged and a company is formed to execute
the project. All that the organizations were asked to do was to cooperate in
publicizing the project and to accept pledges for donations with a view to
deciding, just like all the pledgers themselves, whether to turn these
pledged donations into share purchases once the entire $1M per year for all
10 years was pledged and the full business and scientific plans were
developed.
>1. A business plan.
>2. A plan for how researchers and research projects will be selected.
These will all be developed and made public before anyone is asked for a
dime. Only those pledgers and organizations which approve these plans will
become share purchasers in the corporation which is formed to execute the
plans.
>3. A prospectus (since investments are being solicited)
I believe that there is a misunderstanding here. In none of my writings have
I solicited any investments in any existing company. If I have done so, it
was a mistake and I repudiate it.
What is being promoted is a purely *hypothetical* situation. Everyone is
simply being asked: *if* $1M per year in pledges for 10 years is collected,
and *if* satisfactory scientific and business plans are developed, and *if*
the researchers and their projects are satisfactory, *then* how much would
you be willing to contribute to share purchases in a corporation formed for
the purpose of executing those scientific and business plans under the
direction of those researchers.
There is no prospectus because there is no corporation to have one.
There are no investments being solicited. And if the above "if" clauses do
not happen, their never will be.
When those "if" clauses do happen, then a corporation will be formed and
a prospectus and share offering meeting all SEC rules and regulations will be
produced.
>4. Our own understanding that Alcor's participation would not endanger
>its status as a 501(c)3 tax exempt organization.
This has been made one of the necessary "if" clauses which will be satisfied
before any cryonics organization will be asked to actually receive any
donated money and to buy shares.
> Until we have more information, we cannot responsibly commit our
>resources by attaching a dollar figure to the level of investment Alcor
>might consider.
No one could possibly expect such a thing at this time, and this is *not*
what was ever requested.
>We suggest that the discussion on CryoNet and in other forums continue,
>since many valuable suggestions and questions have already been exchanged.
There is total agreement here.
-- Paul --
!!!!! REVERSIBLE BRAIN CRYOPRESERVATION *CAN* BE ACHIEVED IN 10 YEARS !!!!!
Paul Wakfer email: Voice/Fax: Pager:
US: 1220 E Washington St #24, Colton, CA 92324 909-481-4433 800-805-2870
Canada: 238 Davenport Rd #240, Toronto, ON M5R 1J6 416-968-6291 416-446-9461
(currently in Canada)
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