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Microcap & Penny Stocks : IMMM ( I'm Mad Monk)
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To: x70sxn who wrote (1445)7/13/1997 9:56:00 PM
From: Sidney Reilly   of 1480
 
hi shrini,
Where would I begin to explain? They have drilled two wells (a rumor circulates that it is three) and these wells have been declared "tight holes" (no drilling results will be released) by IMMM. This is very frustrating and does not help the stock price. There are rumors flying of success with the wells, but is that true or unofficial hype? They are going to drill 50 more wells and are getting the financing together for it. They have had a management shakeup and a few resignations of top officers. The company has changed it's name to North American Exploration (NAMX) and there is a mandatory exchange of certificates going on right now. You should be getting something in the mail from Holladay Stock Transfer 602-840-9019. Some here are trying very hard to confirm rumors and get much needed information as the company is shut up as tight as a clam. Also the web site for IMMM has been cancelled by the new "controversial" secretary/treasurer Paul Ebeling. I am down more than 90% right now and am going to ride it out, win or lose. With rumors of dilution flying around few are buyers at this point. As long as they go ahead with drilling on the next 50 wells which may be Aug./Sept In My Opinion Only we have hope of recovery. I've tried to hit the high spots but I'm sure there is more that others can add about where we are at.

Wish I had good news for you. Bob
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