Naxos Resources (NAXOF) Message Board

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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: sh who wrote (11811)	4/15/1998 2:42:00 AM
From: Scott Corey	Read Replies (2) of 20681

sh: Right on. When I got into this stock there were only about 6 million shares outstanding. Over the years management has "managed" to dilute those shares considerably not by private placements but by granting options and selling shares with low priced warrants allowing further dilution of the stock. I believe the recent lower price can be attributed primarily to selling by insiders (large option holders), selling by those fortunate new folks who were able to buy shares with warrants (in some cases dumping shares to get the two for one special) or those who are selling to exercise previously granted options at lower prices. Tons of money has been made by those in-the-know (insiders)in the past. Make no bones about it, this stock has been carefully orchestrated for years to benefit the few. I agree that before any PP is offered by management a full disclosure of all outstanding warrants and options, including price and expiration date, should be made available to the shareholders, thereby establishing the need for new money immediately. Enough is enough. Management read my lips: NO MORE OPTIONS AND WARRANTS!! QUIT GIVING AWAY THE FARM!! Scott

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