Naxos Resources (NAXOF) Message Board

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Gold/Mining/Energy : Naxos Resources (NAXOF)

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To: BGM who wrote (13796)	6/23/1998 9:18:00 AM
From: Henry Volquardsen	Read Replies (2) of 20681

BGM, I'll allow any accounting professional on the the thread discuss wether this practice is acceptable under GAAP. I would like to address your comments regarding possible reasons for reporting in such a manner. I do not recall any "pump" type of news we have received in press releases about the progress in Venezuela so I am not aware of any contradictions. You seem to imply that you believe the way this information was handled was done to influence the stock price in some manner when pricing company stock options. Do you really believe anyone in the investing public is making their decisions regarding Naxos based on what is being reported about the Venezuelan operation in the annual report? I suspect most Naxos investors consider Venezuela a side show that has marginal impact on the company's outlook. In all due respect I would consider it a bit of a stretch to think that a decision on how to report the numbers on Venezuela were part of an effort to manipulate the stock price. Henry

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