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Microcap & Penny Stocks : NAMX -- North American Expl.-- Que Sera Sera! -- Ignore unavailable to you. Want to Upgrade?

To: ALL IN PAUL who wrote (3118)	3/29/1998 8:34:00 PM
From: Sidney Reilly	Read Replies (3) \| Respond to of 4736

Hi Laron, I read the SEC regulations bob posted and this seems to be the requirement: <<There are no Exchange Act reporting obligations after the offering unless the company has more than $10 million in total assets and more than 500 shareholders;>> So if the company is over 500 shareholders and has over $10MM in assets then they have to become reporting. It's my opinion from the press releases and what I've read in posts that they are past that level. They have said in press releases they are working on becoming reporting. I hope it is soon. In general when reading the regulations I thought the Schedule D, 504 offering rule seems to me to be too lenient on companies. Really the SEC should be more strict. I'm glad there is a move by Nasdaq to pressure BB stocks to become reporting or be kicked of the bulletin board down to the pink sheets. I don't know why all companies shouldn't be reporting from the beginning and have to keep on reporting. Then we would have the info we are entitled to. Have a good one, Bob