ARAKIS: HIGH RISK OIL PLAY (AKSEF) Message Board

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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)

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To: Zeev Hed who wrote (6155)	6/18/1997 12:34:00 PM
From: Pluvia	of 9164

Hey Zeev, Good to see you around. Been away from AKSEF but lurking and noticed the price down -- perhaps in the attractive "buy" range. Then noticed the info regarding the "bend-over" the AKSEF directors are giving the shareholders -- ouch. Zeeve on the issue of Kahn and Mcleod loaning themselves almost 1 million dollars -- I strongly disagree with you on this point. Kahn and Mcleod have fiduciary responsibilities to act in the company's best interest. How is loaning themselves money in the company's best interest? And by the way -- it was my information that McLeod's "curious" handling of the company's money was the reason for his forced departure,,, I wonder if this loan was a way for him save face so embezzlement charges were not involved? The company's money is owned by the shareholders -- who are you and I. This is a company that is not generating a net profit -- far from it. How the hell can anyone rationalize that making a personal, unsecured loan for almost a million bucks is "ok"? Jeesus what a joke. This <as I assume you know> is a big taboo, <as in huge> red flag to all institutional investors -- it says in short, management has a real potential for being corrupt. Institutions will not buy this stock with those problems in place. In short, Kahn and McLeod hurt <and continue to do harm> the shareholders in a big way. Kahn also appears to have other serious conflicts of interest -- I just read that article regarding Kahn's past with his diamond company -- the guy (along with McLeod) is an unethical scumbag IMO and should not be trusted. Loaning company funds to officers is not common practice with any other reputable company (particularly companies in their development stage) -- although I admit in penny stocks, scams and Canadian stocks it often occurs. Essentially this loan has put AKSEF in the penny stock scam Canadian BREX category. This company needs a board with credibility and accountability, not a history of raping public companies. Kahn and McLeod's loans are disgraceful, unethical and a breech of fiduciary responsibility -- end of story. This kind of crap really pisses me off -- as maybe you noticed. These guys were given the responsibility of taking care of our company's money -- and they have clearly taken advantage of the situation. As someone else said -- lets get a big Viking boot over here to step on these guys balls. I can hardly wait for the shareholder's meeting. Where Kahn comes from they cut your hands off for these types of things. Cheers Steve the Strapp'n my Big Boots on shareholder

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