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

To: mark silvers who wrote (13998)	7/4/1998 1:08:00 PM
From: ShoppinTheNet	Read Replies (1) \| Respond to of 20681

Mark I looked up Calorad in the DR. Wheil site and it was ok. So I do not think it is that. I was happy and content sitting and waiting to see what CPM came up with myself. But thanks for giving out more details on the subject. I was just curious as to who the author was. If you do not know whom it is, that is fine and if you feel comfortable accepting the information at face value that is as cool as an Aqua Vie with me? My major concern this weekend if how can I get that inflatable alligator pumped up. If you or Tom could tell me were you get your inflatable girl pumped up, now that would be information.

To: mark silvers who wrote (13998)	7/7/1998 3:10:00 PM
From: W.F. Schwertley	Read Replies (1) \| Respond to of 20681

Mark, For some unknown reason I couldn't post this message on 'The Saints' thread. So here is the e-mail that I finally received from the SEC concerning insider trading. It is as follows; ------------------------- From: FloydA@sec.gov Date: Tue, 7 Jul 1998 10:16:58 -0400 Subject: insider trading Dear Mr. Schwertley: Thank you for your April 22, 1998 e-mail to the Commission with your questions about insider trading. In general, a person posting that he has heard that a company will be releasing a news report would need some special relationship with the company to be liable for disseminating the information. A fiduciary relationship or even a lesser relationship that carries an obligation of confidentiality is usually the type of relationship establishing liability. A tipper (the giver of information) does not have to be a corporate insider, nor have a shareholder relationship. Under the misappropriation theory, whereby the tipper is a corporate outsider with a duty to the source of the information rather than to a person with whom she is trading, intent to misappropriate the information is required. The courts look at whether or not the intent was to benefit financially from giving the information, among other things. Even if not liable for insider trading, a tipper can be liable for fraud. As to whether the information is true or false, released or unreleased, generally, someone would have to be damaged for a case to be brought against the person who released the information. If you know you have insider information, a tippee, and trade based on that information, your liability is derived from that of the tipper, the person who gave you the information. Defrauded tippees can bring suit even with knowledge that they possessed insider information, if the court deems it in the public interest to expose the illegal activity of the tipper. Thus, the tippee is not absolutely barred from bringing suit because of his own wrongdoing. For more information on insider trading law, see recent case United States v. O'Hagan, 117 S. Ct. 2199. If you need further assistance, please contact our office at 202-942-7040 or by e-mail. Sincerely, Angela Floyd Law Clerk ------------------------- I think I win our bet!!!!! :-) WFS