ZNext Mining Corporation, Inc (ZNXT): easy to read version by marcel Gary i...

Reply Private New

Replies (1) Next 10 Prev Next

Send PM Follow Ignore

Followers	446
Posts	31415
Boards Moderated	4
Alias Born	04/04/2006

Green Money 00

Re: Green Money 00 post# 29380

Wednesday, 09/13/2006 11:12:05 AM

Wednesday, September 13, 2006 11:12:05 AM

easy to read version by marcel

Gary is the IR for PAIM

Question:
garybgotanco: Q1[/B]. In the case of on-going financing (cash flow), how is PAIM able to pay the several employees it currently has as well as purchase equipment for mining-like the recent China purchase and subsequent transportation?

garybgotanco: In the past most of the company's funds have come from a shareholder loaning us money.

We have made a few private placements which has increased cash availablility, but we are operating on a very small budget compared to American operations, as employment costs and the equipment from China, etc is very cheap, so we haven't needed to raise large amounts of money. We are hoping to grow from earnings in the future instead of more private placements.

[B]Shareholder follow up question[/B]: what are the people who loan money getting in return?

garybgotanco: practically not much...just doing it out of their belief and dedication to the business and the cause
garybgotanco: she has other business from which she can generate funds.

Shareholder: followup question: how big are the placements and if they have to cash in their shares, what pps will they be cashing in?

garybgotanco: cannot comment on that right now, i'm afraid
garybgotanco: please keep posted for developments in the near future

[B]garybgotanco: q2[/B]: In a PR earlier this year, there was mention of moving to a higher exchange before years end, if I recall the PR correctly. How is that hoped for move progressing? Has the necessary paperwork been submitted to the desired exchange or is there a hold-up? Would you be able to release which exchange the move is planned for?

garybgotanco: We hired a New York SEC lawyer to help us move to the OTC QX, a new stock exchange. The lawyer will act as the DAD, or Designated Advisor for Disclosure. We also will apply for listing on a European stock exchange, but can't give any details at this time.

Shareholder: follow up question2:What is the plan of attack to get the price of PAIM high enough to join the OTC QX?

garybgotanco: answer get revenues out this month, look for new mine prospects such as Proj Sta Barbara and get revenues from those ASAP
garybgotanco: better communication with shareholders to counteract effect ofthe very effective bashers
garybgotanco: we are open to suggestions from shareholders on added strategies, as always

ShareHolder: follow up question2:Do they still plan on getting to the OTC QX by the end of the year.

garybgotanco: ans that is our target
garybgotanco: if ever it is not attained, delay will only be minimal

ShareHolder: follow up question2: Just made my night! Can you clarify the min PPS for this exchange?

garybgotanco: US$1, to be maintained at least 3 months straight

[B]garybgotanco: Q3[/B]
garybgotanco: this is a link to some paper work from the paim company... please take a look and explain it... http://img95.imageshack.us/gal.php?g=image18qx2.jpg

garybgotanco: this is about a rights offering
garybgotanco: to subscibe to CDs
garybgotanco: you may ask follow up q later if not too familiar
garybgotanco: have given a reply in a private chat to songoku
garybgotanco: ans
garybgotanco:
Record Date: August 1, 2006
Expiry Time and Date: 5:00 p.m. EST on December 31, 2006.
Basic Subscription Privilege and Subscription Price: Rights entitles the holder to subscribe for one Convertible Debenture at a price of $50 per $100 face value, subject to the terms hereof. Maximum number of Convertible Debentures to be issued on exercise of Rights: Approximately $1,000,000 in face value notes at $50 per $100 face value.
Gross proceeds: $500,000

ShareHolder: follow up questions3:1) Will there be a reverse split, if so when do they anticipate it will be?

garybgotanco: this maybe related in a distant way.
garybgotanco: PAIM has no plans to do so at present, and none are planned in the near future

[B]garybgotanco: q4[/B]
garybgotanco: are there any bashers in the house?
garybgotanco: sorry, let me give them a new name
garybgotanco: more politically correct
garybgotanco: EMC
garybgotanco: "Extremely Motivated Critics"
garybgotanco: lol

[B]garybgotanco:[/B] Engineering/Geological Reports
garybgotanco: the question was, why doesnt PAIM release its technical reports instead of "fluffy PRs"

garybgotanco: ans we have already released technical reports
garybgotanco: from our geologist
garybgotanco: if i may add...the reason why the technical reports do not use highly technical language
garybgotanco: is because the intended audience is composed of shareholders, who do not pay much attention to technicals

ShareHolder: follow up question: How many veins of gold do they think they have in their calims?

garybgotanco: so far, in Proj. CDO
garybgotanco: there are already more than 8
garybgotanco: in Proj. Sta. BArbara
garybgotanco: one vein has promising epidote crystal formation
garybgotanco: pending lab assay
garybgotanco: and about 4 more underwater
garybgotanco: for dewatering
garybgotanco: these are in vertical shafts

SharHolder: followup question: How long before the Sta. Barbara gets under way...revenues, that is?

garybgotanco: it's like this
garybgotanco: the financing scheme is a revolving fund arrangement
garybgotanco: the miners use the fund for operations
garybgotanco: have to liquidate after 30 days to replenish their fund
garybgotanco: before liquidation need to sell gold
garybgotanco: distribute to holders of shares...of the gold prospect, not shareholders yet
garybgotanco: first liquidation is sometime before end of Sept. 2006

[B]garybgotanco: ok Q5[/B]
garybgotanco: From a lady shareholder from Germany
garybgotanco: What is wrong on this Company ??? Is this the same as 1997 in Indonesien, with the Company BRE-X ?? This was a verry big Skandal and the complete Mangement is "DEAD" !!!My German Frieds tell me also, whats WRONG WITH THE COMPANY PEARL ASIAN MINING and only what I can say is I dont know !

garybgotanco: sent by email
garybgotanco: ans from the Chairperson
garybgotanco: Dear Ma-am,

This is not a Bre-X. Sometimes stocks go up and down for no apparent reason. We believe that short sellers are causing this downward trend. We hope the new short selling disclosure rules will be more effective in the future, so that our real short interest will be seen, as NASD has stated that it could take several months to find the gaps under the new rules.

[B]garybgotanco: Q6[/B]
garybgotanco: Question.....Rumor has it that they have bought back more that 90% of the stock. Do they know exactly how many shares are in the float now?

garybgotanco: as we have stated in the last pr on the buyback
garybgotanco: it is still 99 % complete. the 1 % remaining
garybgotanco: is composed of those shareholders who refused to have their shares bought back
garybgotanco: and gave instructions to their brokers accordingly
garybgotanco: Sep. 1st we have cancelled these 1% shares
garybgotanco: and are doing the paperwork as per legal procedure
garybgotanco: to convert these to CDs
garybgotanco: we expect the buyback to be completed in a few more days
garybgotanco: we will inform you as soon as this is done thru PRs

[B]garybgotanco: Q7[/B]
garybgotanco: Is there any dilution going on at the present time?

garybgotanco: let us define dilution
garybgotanco: can someone please state their idea on what dilution is

ShareHolder: Probably wants to know if the company is selling stock at the current time
ShareHolder: I believe they are asking IS paim DUMPING SHAREWS on the market.

garybgotanco: because my understanding is that it's sale and issuance of new shares in the market
garybgotanco: or rather the sale and issuance of substantial quantities of new shares in the market to take advantage of an uptick in price
garybgotanco: is this correct?
ShareHolder: yes
garybgotanco: taking the idea of dumping from ShareHolder
garybgotanco: this issue has been used by so many people
garybgotanco: who think they know about the company
garybgotanco: we have previusly stated that we have not diluted and will not dilute
garybgotanco: PAIM shares