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

To: T N who wrote (4225)	8/1/1998 1:42:00 PM
From: M. M. Jones	Read Replies (1) \| Respond to of 4736

Of the questions you raised, the only one I can answer is this: "Also shareholder approval was needed [for splits, reverse splits, etc.] Do our bi-laws exempt us or is more than 2/3 the float held by insiders(directors) so no vote is needed? " The NAMX bylaws provide that any acts of shareholders require the approval of 50.01% of the outstanding votes of shareholders -- not 2/3. Therefore NAMX may have been able to assemble a few large shareholders (Stamm himself is said to own 20 million shares, over 1/5 of a quorum) and make these decisions. Regards, M.M.