ZNext Mining Corporation, Inc (ZNXT): Chat [14:51] <pearl>...

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michael_wess

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Wednesday, 03/08/2006 5:50:53 PM

Wednesday, March 08, 2006 5:50:53 PM

Chat

[14:51] <pearl> Thank you everyone for the warm welcome
[14:51] <jjseabrook> Do you have any introductory comments you'd like to make?
[14:51] <topdesert> Pearl, can you briefly explain the dividend?
[14:52] <pearl> Who the hell is shorting our company's shares?
[14:52] <pearl> The dividend is 1000 preferred shares for each 1 owned of record
on march 17 with a pay date of march 31
[14:52] <pearl> We are waiting for NASDAQ to set the dividend date
[14:52] <billy9565> they will be a different symbol?
[14:53] <pearl> I mean X dividend date
[14:53] <jjseabrook> When are the preferred convertible to common and tradeable?
[14:53] <pearl> Different CUSIP and different symbol
[14:53] <billy9565> cool, thanks
[14:53] <pearl> The last symbol we had for the preferred was PAMXF
[14:53] <topdesert> Should we request stock certificates to put an end to the
shorting?
[14:54] <pearl> I don't know if that will help or not, but it is worth the try
if you are a long term shareholders
[14:54] <billy9565> the float here is 5 billion?
[14:54] <pearl> The Preferred has no conversion to common yet, but we are
thinking of 500 to 1
[14:55] <lazerboy> guys I need to leave for 10 minutes, rick
[14:55] <topdesert> Hopefully the new rule that's coming out will prevent this
problem
[14:55] <pearl> yes the float is approximatley five billion
[14:55] <jjseabrook> So you will end up with 2 common shares for every 1000
shares of preferred.
[14:55] <pearl> That is what I am hoping
[14:56] <traderscorneradmin> In your last pr you state that none of your
employees of have ever been charged with any criminal activity, in relations to
stocks, or otherwise,
[14:56] <billy9565> i think we've traded that in the last 3 days
[14:56] <traderscorneradmin> My question is this. Does this also hold true for
their immediate family members or past business partners?
[14:56] <pearl> We are a clean company
[14:56] <patinhouston> Pearl -- so use eg of 1 mil shares..walk the end result
out for that shareholder please
[14:56] <pearl> It seems the entire float has changed hands twice in the last
weeks
[14:57] <pearl> 1 million common gets 1 billion preferred.
[14:57] <jjseabrook> .0001 X .0002, 1 X 5 currently
[14:57] <pearl> The preferred has full voting rights
[14:58] <hellogeorge1> Welcome, Pearl: Any update on getting or raising $5
million to begin mining operations?
[14:58] <billy9565> no reverse split? scouts honor? lol
[14:58] <pearl> Why would I want to decrease the market cap, when a reverse
would do that
[14:59] <billy9565> cool
[14:59] <hellogeorge1> Pearl: Can we count on no reverse split for at least 6
months?
[14:59] <pearl> I have no plans to ever do a reverse split but
[15:00] <billy9565> MM NITE has been eating up those 0001 shares all day
[15:00] <jjseabrook> Don't you think you'll eventually have to do one to get the
share structure back in line?
[15:00] <pearl> when we have earnings and if we decide to go to a major exchange
it might be required,
[15:00] <jjseabrook> agreed
[15:00] <hellogeorge1> I see
[15:00] <jjseabrook> NITE is the only MM on the bid
[15:01] <pearl> I not in any hurry to become a reporting company because funds
have to be concentrated on mining
[15:01] <ohiomike> why would a reverse split be required when / if you go to a
major exchange? I'm new at this whole thing, so forgive my ignorance.
[15:01] <billy9565> rick said the MM efgi told you guys to do a reverse split,
is this true?
[15:02] <pearl> That is what Rick told me, and I believe him but he couldn't
remember if it was EFGI or Hudson
[15:02] <lazerboy> I'm here
[15:02] <hellogeorge1> Pearl: Can you comment on any efforts to raise the
capital to start mining
[15:03] <pearl> I've had offers from serval but have not found suitable investor
at this time
[15:03] <lazerboy> I wish I could say I was positive which man said it, But I
hoestly can't BUT IT WAS SAID.
[15:04] <traderscorneradmin> Pearl can you explain a little about the leaching
method you are using in gold recovery
[15:04] <pearl> Major exchanges usally require shares to trade above $2 to list
and with 30 billion out it is unlikely we will hit those ranges
[15:05] <pearl> please check out www.stockinformationsystems.com under the
symbol PAIM to learn our mining process
[15:05] <patinhouston> EXACTLY Pearl..so why did the forward split even happen
[15:05] <pearl> It is too much to explaim it here
[15:06] <ohiomike> Pearl, would you please try to summarize a response for the
forward split?
[15:06] <lazerboy> by the way folks my other board name is Lazerboy-RICK C
[15:07] <pearl> First we did a 5 for 1 forward split and the shares went down
too much in price so we tried a 25-1 reverse which cause shareholders to
complain and market cap to dive
[15:07] <pearl> So that gave me the idea to do a forward 1 for 1000 split
[15:07] <lazerboy> kewl
[15:08] <pearl> then there was confusion over that forward split so we decided
to do a preferred dividend 1000 for 1 which will help me keep control over the
company in the coming years
[15:08] <lazerboy> Pearl could the shareholdetrs maybe see the 500-1 go a little
less than 500?
[15:08] <ohiomike> well, one thing for sure, the price can't get any lower than
where it is right now
[15:08] <billy9565> yeah a reverse split is 1 way to make people angry
[15:08] <jjseabrook> The shareholders as of 1/16/06 got a true 1000:1 forward
split
[15:08] <chefstie> Pearl, what do you think is a good price per share at the
moment? $0.0001 or higher?
[15:09] <jjseabrook> This forward split of 1000:1 preferred shares may be
convertible to 2 shares common stock per 1000 preferred
[15:09] <pearl> that only give PAIM a market cap of $3million which is very low
compared to our potential
[15:09] <jjseabrook> That pretty much will equate to a 2:1 forward split, won't
it....for the 1000:1 preferred shares?
[15:10] <pearl> Yes, but if you keep your preferred shares they could appreciate
over the years to come
[15:10] <pearl> Because they have much greater voting rights of 1,000 preferred
instead of only 2 common
[15:10] <jjseabrook> That would be if you increase it from 2 per 1000 to a
higher conversion?
[15:11] <chefstie> Pearl, after how many years we could trade the divident
shares?
[15:11] <pearl> The dividend shares have no restrictions
[15:12] <jjseabrook> There are no dividend shares....only a stock split, right?
[15:12] <patinhouston> I personally appauld this womans efforts..I am in love
with her motives..don't understand her business plan however.
[15:12] <ohiomike> So, since when does preferred shares have voting rights?
[15:13] <pearl> There was a common stock split now we are completing a dividend
of 1000 preferred for each common held by record shareholders on March 31 with a
record date of March 17 but keep an eye on the x dividend date to be set by
NASDAQ
[15:13] <pearl> Our board resolved for the preferred shares to have equal voting
with the common share for share[15:14] <ohiomike> So the end result is 30 trillion shares?
[15:14] <jjseabrook> http://www.investopedia.com/articles/stocks/05/052705.asp
good reading on preferred convertible shares
[15:15] <pearl> 30 trillion preferred 30 billion common but the preferred only
has a par of .00000001
[15:15] <texrecruiter> Won't the preferred shares trade under another symbol?
[15:15] <pearl> yes
[15:15] <hellogeorge1> Pearl: What makes preferred different than common? That
is case of liquidation, preferred are paid first?
[15:16] <texrecruiter> When do you except revenue from goldfinger and xyz?
[15:16] <texrecruiter> expect that is
[15:16] <pearl> yes preferred has more rights on liquidation but they also have
voting rights but equity only at .00000001
[15:16] <jjseabrook> Yes to which question, pearl? GUYS, please try to let her
answer a question befoer asking another....I'm guilty too.
[15:17] <jjseabrook> I apologize
[15:17] <hellogeorge1> Thanks Pearl
[15:17] <pearl> We expect revenues fourth quarter of 2006
[15:17] <traderscorneradmin> How are we to trade the preferred shares if minimum
price per sahre to trade is .0001
[15:17] <pearl> below the radar
[15:18] <billy9565> gonna keep my preferred for the long haul
[15:18] <pearl> volume could be billions of shares per day at .0000
[15:18] <traderscorneradmin> you can not sell shares less than .0001
[15:19] <pearl> Although I've never personally done it, I have read that shares
can trade below .0001 but the amount can only be seen as .00
[15:19] <billy9565> if you call your broker you can sell at quad zero, people
were doing it with cmkx
[15:19] <jjseabrook> New reg that eliminated 5th decimal trading, I do believe
[15:19] <traderscorneradmin> Not any more. New rule took effect in January 06.
Cant sell or buy below .0001
[15:19] * chefstie That does NOT compute!
[15:19] <chefstie> I can not sell shares smaller than 0.0001 and not more the 10
million at the time...
[15:20] <pearl> Could you sell at market and if NITE wants to pay .00001 what
would stop them?
[15:20] <traderscorneradmin> SEC
[15:21] <pearl> That is an SEC rule?
[15:21] <hellogeorge1> If there is no bid and you put a market order to sell,
might they not fill you at .00005 or so?
[15:21] <jjseabrook> You can't sell a pink at market without going through a
broker to do it, and not sure you can do that.
[15:22] <jjseabrook> However, it has happened where a buy order went in at .0001
and filled at .00005 or above
[15:22] <jjseabrook> Prior to the change
[15:22] <pearl> If the SEC prohibits trades below .0001 then that is the only
price that the preferred will ever trade at if anyone is willing to pay that
price
[15:22] <hellogeorge1> I will check with Ameritrade, but I think it is that you
must buy with a limit, but can sell at market
[15:22] <billy9565> what is the A/S? 30 billion?
[15:22] <hellogeorge1> with pink sheet stocks
[15:22] <pearl> unlimted on both preferred and common
[15:23] <ohiomike> AT requires pinks to be traded with limit orders
[15:23] <pearl> Can you call in a market order?
[15:23] <hellogeorge1> ohiomike: sor buys, not sells, I think
[15:23] <jjseabrook> How many shares are authorized at this time, pearl? Not
how many "could" be authorized, I believe is the question.
[15:23] <ohiomike> buys and sells
[15:23] <traderscorneradmin> JJ, I posted a link to the new rule concerning the
minimum sell order a while ago on main board
[15:24] <texrecruiter> Is PAIM vertically integrated at this point? From the
mine to final product?
[15:24] <pearl> Wyoming allows unlimited shares to be authorized
[15:24] <jjseabrook> I realize that, but how many have you authorized?
[15:24] <macargo> Trades in the 5th digit are very common, look at CMKX, QBID as
an example. I was buying CMKX under .00005 for days!
[15:24] <ohiomike> AT wont allow trades below .0001
[15:25] <pearl> Only what we have issued for common 30 billion and we have
authorized the issuance of 30 trillion preferred
[15:25] <billy9565> yes, if the float is 5 billion, who has the rest of the
shares? above the 5 billion
[15:25] <jjseabrook> Thank you! That was the answer he was looking for.
[15:25] <pearl> Please explain what you mean by vertically integrated
[15:25] <chefstie> so I will have a lot of shares that are untradable?
[15:25] <macargo> No brolker will online, if you call TDW or Etrade they will
manually place those orders in the 5th digit1
[15:26] <pearl> family, employees mostly
[15:26] <texrecruiter> You don't have to rely on any other companies for
anything from start to finish basically.
[15:26] <traderscorneradmin> macargo, new rule took effect this January,
probably because of cmkx
[15:26] <billy9565> are any of them selling?
[15:26] <pearl> We are negotiating to buy crushers etc so we are dependent on
these. What else did you have in mind?
[15:27] <texrecruiter> Didn't know whether you refined your own metals or not.
[15:27] <billy9565> just trying to figure out where efgi got the billions of
shares he's been selling
[15:27] <pearl> No that I am aware of, as they should be loyal to the company
and me
[15:28] <pearl> We will refine our own metals and we are working with Elsa
metals of Geneva to utilize their methodology
[15:28] <texrecruiter> Thank you
[15:29] <pearl> I'm not asking you to give me your money
[15:29] <pearl> please sell your common shares before you can get the preferred
dividend
[15:29] <traderscorneradmin> can you explain what type of leaching method you
are going to use
[15:29] <billy9565> haha, good one
[15:29] <patinhouston> good reply Pearl..!!! and deserved..
[15:30] <pearl> CIL Carbon In Leach and CIP Carbon In Pulp but with Elsa Electro
Magnetic
[15:30] <traderscorneradmin> Thank you
[15:31] <pearl> You are welcome
[15:31] <varose> Pearl--appreciate the pr's on Tuesdays and Thursdays!!
[15:31] <jjseabrook> Did you anticipate that your PPS was drop from .01 on
1/27/06 to its current .0001 - .0002?
[15:31] <texrecruiter> Gold sometimes attaches itself to other things.
[15:32] <pearl> the PPS is a mystery to me
[15:32] <pearl> Thanks Rose
[15:33] <varose> How is the work progressing---you said you have 24 hr--three
shifts??
[15:33] <traderscorneradmin> Pearl is the Philippine government giving you any
resistance in getting a permit to do the leaching
[15:34] <pearl> Not yet, but when we are operational the work will be 24x7
[15:35] <pearl> No resistance as we follow the compliance procedures for mining
in the PI
[15:35] <jjseabrook> Don't you believe it will take some MONSTER PRs to move the
PPS from its current levels?
[15:36] <jjseabrook> And can we expect any?
[15:36] <billy9565> haha hint hint
[15:36] <pearl> We plan to use both CIL, CIP and Elsa method
[15:36] <traderscorneradmin> Have you ever looked at cyanide and caustic soda
leaching?
[15:37] <pearl> no monster pr releases from what we have going now
[15:37] <jjseabrook> Thanks...honest answer
[15:37] <pearl> No we are avoiding cyanide and mercery and other toxics
[15:38] <synapze> what is your company's current cash balance?
[15:38] <pearl> 50,000
[15:39] <synapze> thx, and how much est. funds will it take to become fully
operational?
[15:40] <traderscorneradmin> do you know what % recovery you will have with your
method
[15:40] <pearl> 500,000 for small operations
[15:40] <jjseabrook> Is a merger in the future plans?
[15:40] <pearl> 95 to 98% with Elsa
[15:41] <traderscorneradmin> What size crushed ore
[15:41] <pearl> old fashion method 90 to 95%
[15:41] <synapze> are you planning on securing those funds with sale of common
stock, or preferred?
[15:41] <pearl> common restricted but not at these prices
[15:41] <synapze> is that a guarentee? hehe
[15:42] <pearl> no
[15:42] <synapze> honest, thx
[15:43] <traderscorneradmin> Pearl do you have a crusher on site?
[15:43] <jjseabrook> Come on folks! Here's your chance!
[15:43] <pearl> XYZ ore bodies are complex and our site contains copper which
needs special processing tecniques
[15:43] <patinhouston> why don't you sell a mine and start a different company
and start over with money coming in from that PPS.
[15:44] <macargo> Pearl, I got here late, did you mention what the trading float
was?....thx
[15:44] <pearl> This company is my baby and not interested in selling but
wouldn't mind getting an offer from a major
[15:44] <varose> You say that you are building the roads---how long will that
take--and how many hours a day is work being done on them?? How many workers
are working on this-----
[15:45] <synapze> Pearl, are you familiar with CMKX?
[15:45] <stockbloke> Why can't PAIM be listed on OTB, istead of pinksheets? I
think that would generate more interest.
[15:45] <pearl> no crusher on site but am negotiating to buy crusher from Canada
or possibly California. Looked a one in Modesto recently
[15:45] <billy9565> macargo- 5 billion
[15:45] <jjseabrook> She said the float is 5 bil
[15:45] <pearl> Need all funds at this time for mining not to become reporting,
a requirement of OTCBB
[15:46] <jjseabrook> So all the operation is basicaly physical labor?
[15:46] <macargo> thx, does she believe it's the MM's trading to give the
appearance of much higher float?
[15:46] <stockbloke> Any future plans of listing on OTCBB?
[15:46] <pearl> We expect to build the road in 45 to 60 days
[15:46] <pearl> no plans for OTCBB at this time
[15:47] <pearl> we have 2 engineers and we are hiring 30 unskilled labors for
the road
[15:47] <traderscorneradmin> Do you have any heavy equipment on site
[15:48] <pearl> I've read about CMKX
[15:48] <varose> So no progress is being made until then---and the roads are at
a standstill??? That is unacceptable
[15:48] <pearl> No heavy equipment on site yet
[15:48] <traderscorneradmin> When do you plan on visiting the site again
[15:49] <pearl> We are only just got our permit for the road, these things take
time
[15:49] <chefstie> I heard on another board that you can "pick up gold bars" in
the region you're working in... any comment on that?
[15:50] <pearl> There is loose gold still in the region but not in bars unless
you can find one from the Yamanutsa lost gold
[15:51] <pearl> My flight leaves Sunday to return to the mine site
[15:53] <patinhouston> where r u presently?
[15:53] <pearl> California
[15:53] <varose> To accomplish??? When will labor on roads commence, please??
[15:53] <pearl> April
[15:54] <bosawj> pearl do you have any of your own money invested
[15:54] <pearl> yes i have my own money invested in Pearl Asian Mining
[15:54] <varose> And ours Ms. Pearl
[15:54] <pearl> I think only 10b traded hands in the weeks
[15:54] <synapze> why choose to go public with your company?
[15:55] <patinhouston> UCSA started a mine in south ameria and sponsors a
donation for the schools/ clothing health etc in the region they are mining for
gold. Would you do that so people could help?
[15:55] <pearl> Rose if you bought stock out of the market, that money didn't
come into the compnay
[15:55] <traderscorneradmin> How many shareholder to you think you have?
[15:56] <pearl> a few thousand shareholders
[15:56] <stockbloke> How much money you need in total and still need to start
thise project smooth sailing?
[15:57] <pearl> It is easier to attract the investment community into a public
company
[15:57] <varose> Really!! Your company doesn't get money from the sale of
[15:57] <odiaz28> pearl hello.....where do you see your company going in the
next few months?
[15:58] <pearl> PAIM has already contributed to the mining community
[15:58] <pearl> with books, clothing
[15:58] <traderscorneradmin> How many shares has the company sold in the last
month?
[15:59] <macargo> I love your participation in "project reachout" as listed on
your web site! keep up the good pr...
[15:59] <pearl> 500,000 to go into minimum production 5,000,000 to go into major
production
[15:59] <bosawj> pearl what is your web site again please
[15:59] <pearl> Really, if you buy shares from a naked shorter or an existing
shareholder when you buy form the market the company gets zero
[16:00] <patinhouston> yes, and people love to help check it
out--http://www.uscanadian.net/index.asp
[16:01] <odiaz28> well i purchased 1 million on monday...and every day there is
a spike up to .0009 and higher?
[16:01] <jjseabrook> Where do you see the company a year from now?
[16:01] <pearl> next few months is for the roads, buying equipment and
installation, etc
[16:01] <traderscorneradmin> How are you funding operations?
[16:02] <varose> With all respect,---companies do get funds for the sale of
ttheir stock!!
[16:02] <jjseabrook> www. PearlAsianMining.com
[16:02] <pearl> The company has not sold any shares in the last month
[16:02] <pearl> www.pearlasianmining.com
[16:02] <odiaz28> then who sold me mine
[16:03] <odiaz28> because i purchased through etrade
[16:03] <varose> Ms Pearl-----I respect you-- but you got the money at some
time----when the stock was sold.
[16:03] <odiaz28> under your ticker PAIM
[16:03] <pearl> My plan is to have the company in full production in one year
[16:04] <pearl> Operations are mostly funded by me
[16:04] <synapze> how many classes of Preffered shares do you have? and what do
they represent?
[16:04] <odiaz28> who got the $ for the stocks purchased recently
[16:04] <varose> Pearl it was very kind of you to come, and I do appreciate it.
Thank you!
[16:05] <tick> hello pearl, looking forward to a long haul with you... I would
offer to dig ditches if you promise no reverse splits
[16:05] <pearl> Those who sold and settled their trades got the money not the
company
[16:05] <odiaz28> so do i own stock in your company???
[16:05] <varose> Pearl-----every company gets paid------you would not GIVE
shares to your company---$$$$$$
[16:06] <pearl> There is only one class of preferred shares
[16:06] <jjseabrook> She said they have not sold shares in the last month. She
didn't say the company has never sold shares.
[16:06] <pearl> with a par value of .00000001
[16:06] <synapze> thx, and why did you choose to forward split the stock back in
january
[16:07] <patinhouston> I hope this type discussion will continue in the future.
Hopefully we can give a list of questions which she will reply ahead of time.
She has been VERY honest and straight forward. thank you Pearl
[16:07] <pearl> We can't get paid for shares that shareholders sell or for
shares that are sold naked short
[16:07] <jjseabrook> varose, If you will read up, pearl said that the company
has not sold shares during the last month.
[16:08] <traderscorneradmin> But you were paid for the 5b float were you not?
[16:08] <jjseabrook> The float is 5 bil shares.
[16:08] <varose> But you still received compensation-----you did not give away
shares ---my last comment.
[16:08] <pearl> Rose, I haven't made any money or received any money from this
huge volume, period end of story, directly or indirectly
[16:08] <odiaz28> i really have faith in your company and would like to hold
long term all my shares i wish everyone felt the same
[16:09] <odiaz28> but i need a little more assurance.
[16:09] <pearl> Correct, we do not give shares away for nothing, we have make
aquisitions in the past, ect
[16:10] <pearl> Thank you Odiaz28, and God bless you too.
[16:10] <traderscorneradmin> Pear you have been so kind to have come in her
today. It has been more than the 1/2 hour we discussed. You can call and end any
time you wish
[16:10] <pearl> and I thank every one here, even with tough questions for thier
interests and concerns
[16:10] <synapze> yes, thx Pearl
[16:10] <odiaz28> thnks pearl
[16:10] <bosawj> thx pearl
[16:11] <inxy> Pearl, would I be correct that you are doing some mining on a
limited basis until the intrastructure in in place to begin full scale mining
and processing ?
[16:12] <billy9565> thanks for your time Pearl!!!
[16:12] <pearl> We are permitted to operate on 20 hectares on the XYZ mine site
but not in production yet, however, we are working with small scale mom and pop
miners to buy, sell and help them process their ores but have not made any money
from that yet
[16:12] <macargo> thx Pearl
[16:13] <eze1> thanks Pearl
[16:13] <pearl> God bless every one that came here today and I'll say farewell
now
[16:13] <jjseabrook> Thank you for your candid responses, Pearl. Hope you come
back to see us again. Please stay as long as you wish and come back often.