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Microcap & Penny Stocks : NAMX -- North American Expl.-- Que Sera Sera! -- Ignore unavailable to you. Want to Upgrade?

To: Sidney Reilly who wrote (4215)	8/1/1998 7:37:00 AM
From: M. M. Jones	Read Replies (1) \| Respond to of 4736

Dear Bob, As I understand it, after the August 8 date, there will be 2 million shares authorized, of which around 1,450,000 have been issued, and some 600,000 of these may be reclaimed in the mandatory exchange of shares (the authorized and reclaimed share figures were not mentioned by the press release but are hearsay only), and the officers and directors will have options on 560,000 shares over a ten year period. Not much has changed except the mandatory exchange will clarify the number of shares outstanding, they are in a better position to qualify for listing, and incentives for management are in place. Regards, M.M.