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Greetings to all kings. My name is Ruben Azcona, and I have been a shareholder of KRT since Feb.97, although I have been following it regularly since 1994. Firstly, I apologize if this message doesn't show up properly as I confess I am not very computer literate. That said, I want to start by saying that I've been following this thread since I became a shareholder and I have read every single post since then, as well as every single one before then. So, it's actually quite interesting for me to think that even though none of you are familiar with me, I consider myself to be an older member of this thread than a lot of you who currently post. I have recently contacted some of you privately, and you know who you are. To those I haven't, some of you I will soon and others for obvious reasons to some, I won't. I thank all of you for your contributions to this thread. I can imagine how frustrating it has been for many of you over the last couple of years. To give you all an idea of who I am, I come from a Customer Service/Sales background, I live in Montreal,Quebec and have been investing/speculating for 5 years. You already know my name and I guarantee I'm too mature to use aliases and I don't have time to play games on this thread like some of you do.( You know who I'm reffering to, so I refuse to acknowledge your existence by sparing everyone else of seeing your name printed again). Before I get to the point of this post,I would just like to state here and now, that I don't intend to buy a membership when my 30 day free trial expires, simply because I already find it difficult enough to find time just to log on and read all the posts on all the threads I follow. On top of that , I don't even own a computer, I am using my friends computer, which is across the hall from me. Now, on to the point for this post... Before deciding to buy this stock, I did a lot of due diligence. I never buy any stock based on anyone's recommendations but my own. Unfortunately, over the last 1 1/2 years, my feelings about this company's performance have gone from disapointment, to frustration, and recently these feelings have turned to anger. I guess there's a limit to how much abuse even I can take, and I guess I've reached the end of my rope. I'm refering to the abuse that we, the supposed "true" owners of any publicly traded corporation, have had to endure at the hands of current and some past management. This company has been in a downward spiral since Clive Newall resigned as President. Even the best projects can end up being wasted because of inexperienced or incompetent management. And because of the nature of the penny stock maeket, most shareholders console themselves by telling themselves that speculating is a risky thing anyways. Meanwhile, these so-called executives are the only people who make any money. Or was I the only shareholder who read the information circular sent to us just before the AGM? For the benefit of those of you who don't bother yourselves with fine print, let me assure you that over the course of Mr. Stone's tenure as President and Director of our once promising company, we have had to endure countless failed P.P's, a very shady looking failure to close a deal in which ,up until shareholders unanimously voted for approving the aquisition of the China projects, seemed like a done deal, and most importantly, the continuous erosion of our share price. All the while Mr. Stone decides that for all these fantastic things he's done for us, he deserves to be compensated accordingly and PROCEEDS TO PAY HIMSELF $69,750 IN 1997!!! I COULD BE MISTAKEN, BUT I DON'T EVEN RECALL THE COMPANY EVEN HAVING RAISED THAT MUCH MONEY DURING 1997! Am I the only shareholder who is aware of this? And I recently heard that this guy was re-elected again at the most recent AGM. I voted by phone, and I don't know about the rest of you, but I definately voted NAY! How in God's good name did this guy get himself re-elected? FACT:Since Clive Newall left, our stock has traded for no more than $2/share, and even that lasted only a few minutes and it's been downhill ever since. When KRT was being run by Mr. Newall, our shares touched $4 in 1994, and then, even though he couldn't sustain the share price in 1995 as it dropped and couldn't get above much more than $1.50/share, he once again proved he deserved compensation of somewhere in the area of $100,000, by helping to propel our stock to a high of $4.90/share! Yes, that price wasn't sustained either, but it took somewhere in the area of a month to descend from it's high, down to a price between $2 to $2.50/share, giving every shareholder more than enough time to take profits regardless if you were long or short on the stock. I could go on and on, but I've been long winded enough. I just have a few more things to say before I go. Have any one of you read about the potential attempted takeover of Labrador Mining Int.(LAB.V)or Haddington Resources(HDD.V) by groups of shareholders who, like myself, are tired of having abusive, incompetent management line their own pockets at the expense of the shareholders? We should all applaud their efforts, because even though they probably won't get what they want, you have to tip your hat off to anyone who decides that enough is enough and is willing to put up a fight in order to try and change things. And like I said, they may not succeed, but maybe, just maybe, if more shareholders who feel like they have been abused begin to stand up and bring their problems to the forefront, we might at some point see the day when the SEC and governments SEVERELY CRACK DOWN ON ANY AND EVERY COMPANY MAMAGEMENT PERSONNEL WHO FAIL TO MAKE PROTECTING THE SMALL INVESTOR THEIR FIRST PRIORITY. Maybe if enough people who feel like management have abused their rights + privelages bring their problems to the attention of the media, people may one day come back into the speculative markets like they once did, but without the fear that they will be bilked out of all their investment while the fat cats sit in their cushy offices laughing at them all the way to the bank! That said, I want you all to know that I just yesterday sent a 4 1/2 page letter to David H. Stone voicing some of the things I've already said here, as well as some other things that I will touch upon here at a later date if things with OUR company don't begin to change very soon and for the better. If I don't recieve a response within a relatively reasonable amount of time, I will post a copy of my letter here on this forum for all of you to see. Anyone wishing to corespond with me can send me a private message and I'll get back to you as soon as I can. If I get various responses, then maybe I'll just answer back on the thread. I WISH TO THANK ALL OF YOU KINGS,PAST,PRESENT AND EVEN THOSE OF YOU WHO LEFT, OUT OF DISENCHANTMENT FOR THIS STOCK, BUT WHO, LIKE I'VE BEEN DOING FOR THE PAST 18 MONTHS OR SO, STILL LURK ALONG THESE HALLOWED HALLS! And again, my sincerest apologies for the incredible length of this post. Thanks for listening. I'll be back when I can.......Ruben |
