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Gold/Mining/Energy : Naxos Resources (NAXOF) -- Ignore unavailable to you. Want to Upgrade?

To: Max Haber who wrote (19981)	11/1/1999 12:16:00 PM
From: Kim W. Brasington	Respond to of 20681

Max: First to answer a personal question - yes, I have held stock certificates. I do not hold any now. When I held the certificates, I had them transferred to my brokerage account, when I wanted to sell them. These were long term holdings. Transfer agents do have a list of parties who have moved stock certificates from a personal or trust name to a street name. At the AGM there were approximately 5.8 million shares that were voted against management. Of those 5.8 million, 4.18 million shares were from a trust. Since the AGM, 2.35 million shares have been transferred out of the trust to a street name. There have been other transfers from personal names to street names, by parties in the Father Gregory camp. By SEC regulations, anyone with over 5% of a company's shares (10% in Canada) has to declare that. If they do not then they can have sanctions and legal penalties applied to them, as was the case with the ASC. In regards to insiders (directors and officers) - they have a six month period in which they must hold options. After 6 months, they have to report the exercise of those options. To date, no director or officer has filed an insider trading report since before the AGM. Regards, Kim W. Brasington