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Microcap & Penny Stocks : Jax International (JAXI) -- Ignore unavailable to you. Want to Upgrade?

To: Andrew Bausk who wrote (2261)	6/8/1998 8:37:00 PM
From: HAROLD ZELLER	Respond to of 2430

I don't believe that the mortgage company here is the same as you have in mind. A "Mortgage Company" can be started in Okla. for practically nothing. From a conversation that I had with Joe in the past, I got the impression that the mortgage company was setup to handle the houses that was being constructed in Tulsa. The loans were being sold to a "private investor", not the traditional markets that most normal home loans are marketed to. Joe told me that they were not approved for the traditional markets at that time but maybe sometime in the future. Not being able to see any of the books of the "Mortgage Company" in question, I have been hesitant to say anything since all hype on this stock had stopped. I have small investment here. Had been hoping to get back to even but who knows. Having been in and around the Oklahoma finance and real estate business for many years, I bought into this stock on the hype speculating on the good housing market. Any reasonably good builder with adequate financing should be able to make a go of it right now. I later went by to see the construction and must say that I would never have bought after seeing it first hand. This is just MHO based on what I saw and my experience. Anything could happen. Live and Learn. DD before buying, not after. Good Luck

To: Andrew Bausk who wrote (2261)	6/9/1998 12:16:00 PM
From: Jane Hafker	Read Replies (1) \| Respond to of 2430

Whatever it is, a detailed narrative of it should go to the SEC in case it tanks completely and resurfaces as another shell. If it doesn't, they still should be removed from a trading position until they have passed some sort of third grade exam on management tactics and what you do after you make money by selling public shares on hype, nothing but hype, and pure hype. With no follow-up hype even for 7 months. Surely the SEC will have some recourse for this practice.