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Microcap & Penny Stocks : OILEX (OLEX) -- Ignore unavailable to you. Want to Upgrade?

To: Steve who wrote (3412)	6/9/1998 9:58:00 AM
From: J Navarro	Read Replies (1) \| Respond to of 4276

>>I've read where you've stated to some that it is their fault they lost money because they should have averaged down. Nothing personal, but that's about the most absurd thing I've ever heard. << --No it is not absurd it is the only way to make this kind of play --pay off in the long run. If you don't take advantage of the stock --at these prices you are crazy. Quite the contrary... if you take 'advantage' of this stock at these prices, THEN you are crazy. Investing in this type of stock a year ago took a Gambler's Mentality. Investing in it now takes a Dumb Gambler's Mentality. >>The only reason these people (myself included) lost money is because they bought a complete dog of a stock, not because they failed to average down. Likewise, as we watch, it's still fading. Averaging down would only add more pain to a long and painful ride.<< --It would turn a loser into a winner. You are too scared to do it. --If you don't have the stomach for this kind of investing then stop --posting here. Not too scared, just not that stupid. If I didn't have the stomach for this type of investing, then I wouldn't do it. Common sense tells me there are mucho better risk/reward opportunities out there. Steve - again, I hope you do well with this stock. But if you think people are going to stop posting at your request, then you're the one being naive. I'll post anywhere I want anytime I want, and I'm sure others will do the same. Good Luck - JN

To: Steve who wrote (3412)	6/9/1998 10:21:00 AM
From: OFW	Read Replies (4) \| Respond to of 4276

IMPORTANT REQUEST OF ALL OILEX SHAREHOLDERS: As many of you are aware, I have, in three separate attempts, requested copies of the bylaws from Oilex. All requests were ignored and I still have not received a copy of the bylaws of Oilex. However, in Post #3847 on Joe Copia's thread, Steve posted the text of a set of bylaws he claims are the bylaws currently in force at the company. I do not know where he obtained these bylaws (perhaps copied them from an SEC filing in which a set are provided --- however those bylaws are under the name of Aktech, Inc.). I now quote from Sections 2 and 3 of Article II -ANNUAL MEETING OF SHAREHOLDERS of those bylaws: Section 2. Annual meetings of shareholders, commencing with the year 1987, shall be held on the second Monday of June if not a legal holiday, and if a legal holiday, then on the next secular day following, at 1:00 p.m., at which they shall elect by a plurality vote a board of directors, and transact such other business as may properly be brought before the meeting. Section 3. Written or printed notice of. the annual meeting stating the place, day and hour of the meeting shall be delivered not less than ten nor more than sixty days before the date of the meeting, either personally or by mail, by or at the direction of the president, the secretary, or the officer or persons calling the meeting, to each shareholder of record entitled to vote at such meeting. As you can see from Section 2 above, the annual meeting is scheduled for the second Monday of June. That was yesterday. Furthermore, in Section 3 above, it would appear that all shareholders are entitled to notice of such meeting "not less than ten nor more than sixty days before the date of the meeting" I have been a shareholder of Oilex common stock for an almost continuous period beginning in early Spring of 1997. I HAVE NEVER RECEIVED A NOTICE FROM THE COMPANY REGARDING THE ANNUAL MEETING OF SHAREHOLDERS OF OILEX. My question to every Oilex common stockholder is this: Did you receive a notice from Oilex of your rights to attend the annual meeting scheduled to be held yesterday? Offie