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

To: Henry Volquardsen who wrote (13791)	6/22/1998 9:59:00 PM
From: ShoppinTheNet	Read Replies (3) \| Respond to of 20681

Well looks like we got Norton out of there just in time! :>) LOL! that was a joke folks. Henry thanks for the explanation. That's what I love about you! Ask a simple question and get a direct answer with no allegations of me making an accusation with the question. In your experience is this type of reporting (hiding the revenues in with the costs) normal or would it have been better to have simply stated the revenue and costs seperatly? With this being said, and taking into mind your previous post regarding lack of reporting of this mine's results being immaterial in regards to the big fish that is being fried at Franklin Lake, What is the value to naxos in retaining the ownership of this mine. IYHO

To: Henry Volquardsen who wrote (13791)	6/23/1998 5:26:00 AM
From: BGM	Read Replies (1) \| Respond to of 20681

Henry: I appreciate your direct response. However, it is also the case for the Auditors' Report for the 6 months ending April 30th that nothing shows. I do not understand how auditors can approve folding revenues into expenses. They did not fold other income into expenses. I am not a CPA, but I have installed many accounting systems. I do not think this is commonly accepted practices. It is also in contradiction to "pump" type of news we have received in press releases about the progress there. It is one more way for us, the shareholders, to get incomplete information about what is actually going on and evaluate potential, progress, and company management. This reporting comes out of the "new" management. This comes at a time when they are concerned with rewriting director stock options, issuing new director options, and issuing employee stock options. How about standard information for existing stock holders? Are there any accounting professionals on the thread who can respond to this claim or type of financial presentation? BGM