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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Henry Volquardsen who wrote (13784)	6/22/1998 3:07:00 PM
From: BGM	Read Replies (2) of 20681

Henry, I can appreciate that it is not the primary focus. However, audited financial statements would require the reporting of revenues completely. I don't understand that we can get an audited financial statement from Deloitte & Touche for the six months ending April 30, 1998 that shows to the detail of $650 for filing fees but does not mention revenues. I also think that turning cash flow positive on anything is a big deal. We are all concerned with management performance and credibility. The Auditor's Report is one of the few sources of information that does not come from management. I think that Mr. Norton's first assignment was operations in South America. How they are performing also reflects on his skills. BGM

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