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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: bill maghan who wrote (13585)6/16/1998 7:09:00 AM
From: Jerry in Omaha  Read Replies (1) of 20681
 
Mr. maghan,

<<At least JJ reinvested into this company...>>

You bring up a fact often overlooked. It has been mentioned many times on
the thread and never seriously denied that Jimmy John has invested millions
of his own dollars into Naxos. When I learn that Mr. John has secured a loan
from the company he founded and persevered for years with, money that possibly
could be construed partially as his own, to buy shares in, and be held as security by,
his company, well, the whole thing seems pretty fair to me.

I hear the cries of complaint on the thread (there's nothing much to do
about them but try not to gripe yourself) and even charges relating to
ethics and law -- domestic and foreign -- thrown around. I read every posting
and pay attention to the arguments however my understanding and analysis of
the prospects for Naxos is not furthered very much, except maybe to learn that
people think Michael is great and the Yankees are good and Red Sox not.

Naxos is in the middle of a transition from a founder run to a professionally
run company and you profile a few of the before and after aspects common to
most of these transitions, a founder re-invests and professionals take their
cash. Whether they "run" or not depends on the quality of the personnel and
the real ability of the company to deliver a profitable product to market before
all the money dries up.

I would like to hear commentary directed to that issue.

Thank you for your contribution, Mr. magham. It's been a long time since we've
heard from you and you certainly have given me some things to think about.

Jerard P
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