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

To: Tom Frederick who wrote (12560)	5/4/1998 11:15:00 AM
From: mark silvers	Read Replies (2) \| Respond to of 20681

Tom I was under the impression that the hearing could go on all week, Yo seem to be implying that it will only be one day. I hope that you are right:-) Mark

To: Tom Frederick who wrote (12560)	5/4/1998 11:45:00 AM
From: Neal davidson	Read Replies (1) \| Respond to of 20681

Tom: You said: "So now it is only trading activity by JJ that is left from the original charges." Others also were named as defendants (or, perhaps they are referred to as respondents) besides JJ...I seem to recall that Sid and Fred also were named on the issue of reporting their trades in a timely fashion. I have not heard any news which would indicate that those charges have been dismissed. Have you? I think it would be nice to hear what happened today at the ASC hearing, but I had heard, some time ago, that the ASC's evidence, alone, could take well over a week to present. (We know that JJ made many hundreds of stock trades, and each one of those which the ASC contends was "tainted," either because of the timing of the trade, or the late reporting of the trade, would have to be presented). If the ASC's evidence is going to take that long to present, I would not expect a ruling for quite some time. (We do not know how long the deliberations will take, we do not know whether the ruling must be in writing, and we do not know if the parties will be asked to (or allowed to) present post-hearing briefs (written arguments) to the panel, etc.) Just a guess, but if the matter does not settle, we likely would not see a ruling for at least a month.