SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : NAMX -- North American Expl.-- Que Sera Sera!
NAMX 0.00010000.0%Mar 7 3:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: bob who wrote (4181)7/31/1998 1:22:00 PM
From: Sidney Reilly  Read Replies (1) of 4736
 
<<At a meeting of the newly expanded board on July 23, 1998, a compensation arrangement for directors and for the Company secretary was approved which involved, inter alia, the immediate issuance of options for approximately 56 million shares of common stock. The options are exercisable over a 10-year period at a strike price of 110% of the closing bid price of NAMX shares on July 23, 1998, or 110% of the closing bid price of NAMX shares on the date of exercise
of the options, whichever is lower.>>

Well we are screwed again by that business legend, Stamm. The new board has options on 56 million shares for ten years at 110% of pre-split prices!! Should we assume they will be buying the 56 MM shares post-split??? Yes, that's the equivalent of 560,000,000 pre-split shares thay have been given or another way to look at it is they get post-split shares at pre-split prices!! What the hell!! Looks like the business acumen of Dr. Stamm will never improve. We have been taken to the cleaners again and we continue to suffer for his lack of business sense.

The Web Site seems to be working although I see nothing new yet. I can only hope that this in time will be pumped for the new board to unload their incredibly cheap shares and then I can too!!
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News