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

To: Neal davidson who wrote (13819)	6/23/1998 3:37:00 PM
From: KRosenfeld	Read Replies (1) \| Respond to of 20681

I am using red ink!!! :-)

To: Neal davidson who wrote (13819)	6/23/1998 3:52:00 PM
From: ShoppinTheNet	Respond to of 20681

Hi all, you too Henry! This is a post talking about repricing of options. Click now if you are squeamish. But first some house keeping! Yes Black is always the best ink to use. Yes it is to bad that we do not have grammar check here at Si. I am just darn glad we have a coat check. Now on to the issue of the repricing of the options. I have just read from off my fax machine, (thanks to the kind gentleman who faxed it) the information on the proxies. Reading the section regarding the options that were repriced the explanation I understand is as follows: Naxos stock was closed down for trading. Options needed to be issued. The board needed to set a price. They had no price, as the stock was not trading. Lacking a better option they priced them based on the last price the stock traded at. The stock opened up much later and at a much lower price. The compensation committee looked at the pricing in hind site and determined it would be fair to reprice them based on the opening stock price. Thus they repriced them at a fairer price. Now with the understanding that I am not feeling well, I may be misreading this, so feel free to correct me if I am wrong in this regard. If anyone would like to know my feelings on this issue please ask.