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Microcap & Penny Stocks : IMMM ( I'm Mad Monk)
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To: CVJ who wrote (1257)7/3/1997 8:41:00 AM
From: alchemy   of 1480
 
Hey cjac: With the website down, I pity the new investor who has to figure out this company. I have spoken with Elias at Prima Capital. He provided me with no useful information and no sensible reason to buy the stock. I doubt that any credible investor would touch this stock after a conversation with him. I asked him several substantive questions about the float and why Dr. Stamm declared the wells tight and I am still waiting for an answer. IMO, Prima is being paid to keep the investors in the dark, not to illuminate us.

John: When it comes to accessing company information, NAE is tighter than a clamshell. I have tried to get answers and have received the company line that when the company determines that the time is right, they will release information. They would not fax me the agreement between Patroclos and NAE. My rule with this company is that if it isn't in writing, it is not postable.

IMO, the company's secrecy has played into the agendas of Hunter Vann and Peter Boonen. Hunter hates Ebeling; therefore he hates NAE. Fine. That's easy to understand.

Peter asserts that he was dismissed when he tried to get confirmation on whether or not the EMSounder was used in Colorado. That is a serious allegation. I would assume that Mr. Boonen's and NAE's lawyers will be meeting in court to straighten out his employment and stock ownership issues. I have to reach to believe that Peter is not serving his own interests before those of the shareholders. At any rate, Mr. Boonen's issues are now in the public domain and should be responded to by the company in some public way. Many of his concerns are our concerns.

Now is the time for NAE to drop this charade of keeping us all in the dark. They need to respond to Peter's issues. They need to reveal the drilling results. They need to confirm that the technology was implemented in Colorado and has been shown to be either effective or ineffective as a means to locate hydrocarbons. We need to know the details of the agreement between Patroclos and NAE. We need to know where all these shares are coming from. And they need to account for the $1.25mm that was raised in February and let us know what their revenues have been/will be from all drilling sites.

Any well managed company would be providing this type of information to their investors on a regular basis. There is no reason that NAE shouldn't.

marty
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