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Gold/Mining/Energy : CANADIAN OVERSEAS EXPLORATIONS (CVC.V)
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To: Pierre J. LeBel who wrote (82)1/17/1998 9:08:00 AM
From: Pierre J. LeBel   of 113
 
The VSE advises on January 16th, 1998:

"Further to the VSE notice dated January 8,1998, trading in the shares of the Company (CVC) was reinstated in error. The Company should have remained suspended after the Cease Trade Order was lifted on January 8, 1998 and the suspension is retroactively applied to January 9, 1998.
Trading in the shares of the Company will be re-evaluated upon the Company meeting Initial Listing Requirements."

This release from the VSE raises a few questions:

1) What happens to the folks who bought and sold shares in CVC this week? Why should these trades be cancelled because the VSE was "in error" in reinstating trading in the shares of the company? Who gives the VSE the right to act "retroactively"?

2) Since the VSE now requires that CVC meets "Initial Listing Requirements", the chances of that happening are pretty remote in my opinion after reviewing the financial statements which I finally received a few days ago.

There is no money in the bank and substantial accounts payable. Considering that there will be no listing without money, it raises a final question: "which came first: the chicken or the egg?".

Does anyone in cyberspace have any relationship with the new directors? Could we get some comments?

Unfortunately, in my opinion, this stock (and this thread) is dead.

Pierre
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