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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: Henry Volquardsen who wrote (13791)	6/23/1998 5:26:00 AM
From: BGM	Read Replies (1) of 20681

Henry: I appreciate your direct response. However, it is also the case for the Auditors' Report for the 6 months ending April 30th that nothing shows. I do not understand how auditors can approve folding revenues into expenses. They did not fold other income into expenses. I am not a CPA, but I have installed many accounting systems. I do not think this is commonly accepted practices. It is also in contradiction to "pump" type of news we have received in press releases about the progress there. It is one more way for us, the shareholders, to get incomplete information about what is actually going on and evaluate potential, progress, and company management. This reporting comes out of the "new" management. This comes at a time when they are concerned with rewriting director stock options, issuing new director options, and issuing employee stock options. How about standard information for existing stock holders? Are there any accounting professionals on the thread who can respond to this claim or type of financial presentation? BGM

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