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

To: M. M. Jones who wrote (4223)	8/1/1998 10:42:00 AM
From: T N	Read Replies (1) \| Respond to of 4736

just some thoughts---I dont think 145 mil of the 200 mill authorized is the issued float because coupled with the 56 mil in options for directors would use up the total authorized amount and companies always have at least 10 -20% still available for aquisitions and addittional options, etc. Also I ran reverse split on a search engine and came up with several co's and there definatly isn't a pattern to be seen if up or down will be the way before or after announcement or actual event occurance. Allthough one interesting thing I noticed is that it seems to be aaccompanied with an aquisition or dividend, or needed to satisfy conditions of a pending aquisition or something of the like. Also shareholder approval was needed. Do our bi-laws exempt us or is more than 2/3 the float held by insiders(directors) so no vote is needed? Also as I stated before and found none of the other companies announcements is it necesary for the share holders to prove ownership before the exchange. This process will bring to light whether or not a shareholder paid full value for the shares recieved, which according to Stamm is the problem with the dilution. Maybe at the time of the exchange if it is determined that the shareholder didn't pay properly they will only recieve the split amount they deserve or have to come up with cash. If this is possible it will allow the recievers of illgotten shares to remain anonomous or face possible charges(if crimminal wrong doing) if they start whining. Again will some one tell me do the shorts have to cover before the old shares stop trading? Also it said the options were immediatley issued I would like to know by the end of next week how many were exercised, because then our "silent board" would be screaming the ansewer at us.