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Gold/Mining/Energy : Napier International Technologies Inc. (T.NIR)
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To: xray who wrote (1572)9/8/1998 12:23:00 PM
From: chris  Read Replies (2) of 2444
 
I spoke to Brad Aelicks last week, and for what it's worth, here is how our conversation went. I first asked how everything was going and he went on to tell me quite a few details about; sales increasing 20% month over month for the last 8-9 months, signing up new customers daily, they have over 65 international accounts now, (1 sales guy in aircraft industry with approx. 300 accounts), there was some insider activity in August, he himself was a net buyer, and a few insiders (including himself) were buying heavily between Aug. 15-20. I asked him why he was selling stock lately and in the past and he said something to the effect that: he funded Napier with approx. $250,000 of his personal money over 2 years ago and has never taken money out of the treasury or a salary in his entire tenure. He also advised some insiders and employees to compensate themselves by selling stock at $3-$4 range when the stock ran up and go out and buy something nice for themselves. He also said he exercised his options (1,000,000) in order to meet TSE and OSC guidelines when they acquired Acquasol. The guidlines state that a company is not allowed to issue more than 20% of their stock to acquire another company.(by the way i called the OSC and they did confirm this) When Napier agreed to issue 5.9 million shares to Acquasol it was slightly over 20% outstanding. I know this sounds alittle naive, considering he sold a few hundred thousand since then, but i'm just posting facts. Any comments? chris.
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