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

To: bill maghan who wrote (13585)	6/16/1998 7:09:00 AM
From: Jerry in Omaha	Read Replies (1) \| Respond to of 20681

Mr. maghan, <<At least JJ reinvested into this company...>> You bring up a fact often overlooked. It has been mentioned many times on the thread and never seriously denied that Jimmy John has invested millions of his own dollars into Naxos. When I learn that Mr. John has secured a loan from the company he founded and persevered for years with, money that possibly could be construed partially as his own, to buy shares in, and be held as security by, his company, well, the whole thing seems pretty fair to me. I hear the cries of complaint on the thread (there's nothing much to do about them but try not to gripe yourself) and even charges relating to ethics and law -- domestic and foreign -- thrown around. I read every posting and pay attention to the arguments however my understanding and analysis of the prospects for Naxos is not furthered very much, except maybe to learn that people think Michael is great and the Yankees are good and Red Sox not. Naxos is in the middle of a transition from a founder run to a professionally run company and you profile a few of the before and after aspects common to most of these transitions, a founder re-invests and professionals take their cash. Whether they "run" or not depends on the quality of the personnel and the real ability of the company to deliver a profitable product to market before all the money dries up. I would like to hear commentary directed to that issue. Thank you for your contribution, Mr. magham. It's been a long time since we've heard from you and you certainly have given me some things to think about. Jerard P

To: bill maghan who wrote (13585)	6/16/1998 8:04:00 AM
From: jlallen	Respond to of 20681

Bill: Excellent post. Food for further thought. JLA

To: bill maghan who wrote (13585)	6/16/1998 8:47:00 AM
From: Larry Macklin	Read Replies (1) \| Respond to of 20681

bill, Has the current management team re-priced their own options? I havn't seen that happen. Giving management price targets before they can excersize options might sound like a great idea but why don't any companies do it? My guess is that it probably lead to very short term thinking. This can be especially dangerous with an R&D company. But what does any of this really matter anyway? What should the current mgmt team be doing differently? What is wrong with their current plan to prove out a resourse and turn this into a real mining company? What does jimmys re-pricing of options have to do with the current situation? larry macklin

To: bill maghan who wrote (13585)	6/16/1998 9:16:00 AM
From: Larry Macklin	Respond to of 20681

one more thing bill-----i havn't seen the proxy reports that you are referring to but to my knowledge current mgmt hasnt been giving away options like was done under jimmys regime. If im wrong please point out the exact situations this has occured. As far as mgmt investing in the company-----why dont we have all the employees and mgmt work for free.....in fact they should pay naxos for the privledge of working there. While we are at it, lets make a rule of no private placements. Does that sound like a good plan? we will have a company which has no income,no way to raise money, and no employees. That will really make the stock price rise! BTW---just to set the record straight, could someone please make a list of the all the unethical things that the current mgmt has currently done? I would like to know what those things are. Larry Macklin