Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: bob who wrote (4269)	8/9/1998 8:20:00 PM
From: T N	Read Replies (1) \| Respond to of 4736

Its old news but I think the 2 press releases show that their will obviously be share cancellation. This is from the June 1 release. The Company has placed ''stop transfer'' instructions with its transfer and registrar agent respecting a substantial number of shares of common stock issued during the relevant period, and expects to require the holders of these securities to verify payment of fair value for these securities to the Company, prior to the removal of these instructions. Unless it is determined that such shares were duly authorized to be issued by the Board of Directors and the purchasers' thereof acted in good faith, the Company will do everything within its power to cause such securities to be canceled. This is from the July 31 release To exchange certificates, both the old certificates and proof of ownership of such old certificates in one of the following forms must be submitted to the transfer agent: 1. Stock Purchase Agreements respecting the purchase of the shares 2. Subscription agreements respecting such purchase 3. Brokerage Confirmations 4. Checks or other evidence of payment 5. Service or Compensation Agreements covering services rendered as payment for any such shares 6. Any other similar instrument evidencing ownership of such shares. The original release also said it was 60 mil shares in question if 2/3 or more get cancelled this thing will explode. Every share issued now has to pass through the hands of the "transfer agent"