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Gold/Mining/Energy : Northrich Pacific Ventures NPA:V -- Ignore unavailable to you. Want to Upgrade?

To: john mcknight who wrote (7277)	7/21/1998 9:58:00 PM
From: dave herbert	Read Replies (1) \| Respond to of 7431

Greetings John The first hurdle seems to have been jumped.Now we are stuck with a another major one.From what i understand (have not talked with Liem yet) the vse is requiring a 1 for 10 rollback under the pretense of not knowing where the shares are.With this the shareholders will virtually be wiped out with little chance to recover their investment ie if you bought npa at 1$ the stock would have to go back up to $1 to break even under the rollback it will have to go up to $10 in order to reach this they will need a major discovery which is highly unlikely with a co that has to rebuild from the bottom. Without the rollback $1 is a good possibility with a reasonable property.This rollback seems to only benefit those who refinance the co by buying the new shares to be issued by private placement at .15 and then making there money when it goes to $1.This would appear to be another example of the vse looking after the old boys club.What would make more sense a be more equitable to the shareholders and also allow the vse to find out where the shares are is to require all shareholders to register the shares they now hold and when the co is renamed to allow only registered shares to be exchanged for shares of the new co.This process would only involve a small further investment to the shareholder and would allow the vse to find out exactly where and who has shares.This would seem to me to be a way for the vse to protect the 1900 shareholders who are legitimate and not involved in the misdeeds of the 5 or6 who are.The rollback seems to be another vse smokescreen that will only penalize the small investor while allowing the 5 or 6 to regain any losses they have by being able to pick up the cheap pp and by doing so have an even larger stake in the co than they now have. This co will not open and stay at $2 without a major pp at $2 a share thus maintaining the value which has about as much chance as you have of becoming the next King of Scotland