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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Henry Volquardsen who wrote (8437)	1/22/1998 6:45:00 PM
From: jlallen	Read Replies (1) of 20681

Mr. Volquardsen: I'm a long time lurker making my first post and I have read many of your posts with interest. With respect to the ability of the ASC to impact trading in the US, I feel you are probably correct as to the OTC:BB. However, as long as this matter hangs over Naxos like a cloud, I doubt Naxos will be able to obtain permission to trade electronically. If the ASC outcome is unfavorable, I would suspect it would be very difficult to obtain approval even if Naxos continues to show it "has the goods". Its a management issue. Unfortunately, I believe management is the Achilles heel of this company. (Case in point the last press release). In retrospect it was probably a mistake to settle out with the ASE without resolving this matter as well. Finally, does anyone know if there are any sort of reciprocal disciplinary ramifications to the ASC proceeding. By reciprocal, I mean can the ASC bring the matter to the attention of US authorities? jlallen

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