Pure Gold Minerals (PUG)-TSE Message Board

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Gold/Mining/Energy : Pure Gold Minerals (PUG)-TSE

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To: JKNF who wrote (850)	10/28/1998 12:29:00 PM
From: J.P.Campbell	Read Replies (1) of 1030

To JKNF, a little clarification on 'armslength' In proper accounting terminology 'armslength' is supposed to refer to any business dealing that is done with anyone not defined as an 'insider'. Armslength would include the average retail investors such as ourselves and any non-related fund or institutional investors. I know you consider Carina's explanation on the warrent repricing pretty lame but it does made some sense. If PUG had raise money from institutional investors with warrents that were restricted from free trading they would have to reprice them lower before they expired or lose those investors as sources of future financing.If they burn the big guys they will run out of funds very quickly. As the D-warrents were free trading and probably were mostly held by small retail investors PUG wouldn't feel much pressure to 'do the right thing' and reprice them down too. The 'insiders' can always be counted on taking care of their own interests as we've now seen with the options repricing. Not trying to be irritable,JKNF, just commenting on 'armslength' Best of luck, J.P.Campbell

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