CAV - Cypango Message Board

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Gold/Mining/Energy : CAV - Cypango

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To: Ross Mickey who wrote (4)	7/26/1996 1:05:00 AM
From: Mustafa Nazarali	of 15

I spoke to Jason on Monday and got the same story. Further more I did research on insider trading. While William Friesen bought and sold shares prior to June, he did exercise options at $1.93 to buy 150 000 common shares and had a reported balance as at June 28, 1996 a holding of this amount of shares. Insider trading can be found at the following site: telemark.net It will be interesting to see what trades were made for the months of June/July. Further I pressed Jason to determine if insiders were involved in the private placement. As far as he knew, of the placement he made himself, no insiders were involved. I believe Jason was telling the truth and the placement was made at the best possible price given the level of market tolerance. For those who do believe that insiders were involved in manipulating this stock, I certainly would like proof of this. In the mean time, I still do believe Cypango to have potential as it as an aggressive player in the Northwest. The best thing now would be to do dollar averaging as the majority of us had paid a high price for this company and to be upto date on any activities progressing in this company.

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