Sometimes it`s easier to step back and take a look at the really big picture.

To me, the following are important discussion points:

1. The share price is roughly 2.5% of what I originally bought shares for in 2000. ($.16 versus $6.25)

2. Except for infrequent rises and falls in share price (which I believe most, if not all, are coincident with finance activities of the Company), the stock has declined to a level that is apparently not so attractive to new investors, nor are longs (at least for the most part) interested in adding to their positions. The longs have lost a great deal of their investment, either on paper or actually realized.

3. The only persons or entities who have made (not necessarily earned) money on the Company are employees / managers of the Company, financing persons or entities (at least there is the potential), and active traders playing the downs and occasional ups of this stock.

4. The dilution has increased the float significantly, further decreasing the value of the stock, and making recovery of one`s investment much more difficult.

5. The focus of this company has been intentially shifted away from the core technology into which most of us originally invested. NCS seems to have been shuffled to a lower priority. We are now investing in technologies unrelated to microelectronics.... I personally am not comfortable with that.

6. Many of the great people who were brought on board because of their special skills and abilities have melted away.

This is not the same company into which many of us invested a great deal of money. I consider, for the most part at least, this investment to be worthless. I feel deceived and used. I made the choice to invest in Nanopierce, and to keep investing up to the point that I began to look at things more objectively; but, I did so with some pretty strong reasons. I feel lied to by management, and by some of the posters on the boards (not that posters on the board really had much to do with my investment choices).

My personal opinion, and something that I strongly caution any new investor to consider, is that there have been too many promises made over the last four (almost five) years. It`s time for the rhetoric to stop, and performance to start. I wouldn`t invest a penny in this stock until it has been proven that the Company will actually make some money. (Sure, you`ll miss getting in at the bottom should the Company`s new business plan succeed; but, one should look at the credibility of those behind any speculative endeavor and base their investment decisions, at least in some part, to those who have put Nanopierce in the position it is now in.)

My best to all longs at this time of the season. (And, although somewhat out of character for me, may those who have taken advantage of those real ``investors`` in Nanopierce go straight to H***, stopping only first in a Federal penitentiary... being first found guilty by their maker, and the legal system, of course.)

All my personal opinion.

Jeff