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[QUOTE]Originally posted by BuckyBarnes: [QB] Pearl Asian Mining Industries Issues Clarification on 15 Billion Projected Increased Public Float of Its (PAIM) Common Shares 9:30 AM ET - BusinessWire Pearl Asian Mining Industries, Inc. with Stock SYMBOLS: U.S.A. (OTC:PAIM); (OTC:PAIMP) reports: Investor Relations Officer Jeffrey A. Bosaw, explains and clarifies concerns and issues about the projected increase of approximately 15,000,000,000 of its issued and outstanding common shares: "I know that a lot of PAIM shareholders are upset, or do not understand the float increase, that I projected last week. A lot of people are converting their preferred shares which are being added to O/S float. In 2006 last year, some people converted their CDs which added to the float also. What concerns me most is that the preferred shares have been converted, or are being converted now. I have been receiving many phone calls from brokerage houses, and investment firms from all over the place, wanting information on how to get the preferred shares converted, that are in their clients' accounts and the numbers are staggering way beyond what was issued." "The 15 Billion that I mentioned the projected float could be by the end of June, is a maximum calculation, it should not be that. The current float still remains the same. We announced this now, so people did not get upset with the company, trying to say we were hiding it. We want to keep our shareholders/ investors informed of what is going on right now," reports Bosaw. "Going back to my concern about all the extra preferred that are being claimed out there, that should not be there. Almost all of the broker dealers, and investment firms' are asking how to get the certificates, which is leaving me to the understanding that there is a lot of shorted preferred, which would be consistent with the complaint filed by one brokerage firm against this larger brokerage firm for failure to deliver (FTD). I now know that there are a lot of shareholders that could not get their certificates if they tried, because they are FTD. I believe this to be the case, if not all of the brokerage houses and investment firms. This would explain why they all decided to send people's certificates out, when other people can't get them from the same brokerage houses and investment firms. I know of one shareholder who has been waiting for his preferred certificates for over 9 months now. He has filed many complaints with the SEC too," added Mr. Bosaw. Pearl Asian Mining is looking at having profit sharing for all shareholders at least once per year. The Cash Dividend will be issued directly to the shareholders, and mailed to their known address upon verification of its legitimacy as holders on the record date. The distribution will not go through any brokerage house or investment firm, but directly to the shareholders' known address. "Yes, we have a plan to decrease the O/S float, and it will not be a reverse split, the company promised it would not do that, and PAIM will not. PAIM will not do another CD debenture either. It will be something that will benefit all long term shareholders. The secret share holder of the 1,074,000,000 reported for cancellation never got the certificates for clearance, yet just started selling and perhaps may have sold them all. How can someone be able to sell without the shares?" noted Bosaw. "The cash dividend is only being issued on common shares of PAIM. The CDs have both face value, and conversion value, so do not let your broker tell you different. Yes, we are working on getting PAIMP trading again, it should have never stopped. Furthermore, the Company will not and does not have to sue anyone that owes dividends because they are short. The shareholders will have to get from their brokers that owe them. We will have a list of all that got paid, and the ones that need to get paid," explained Bosaw. The company does not pay 60% to anyone. Company pays from 1% to 3% to the agreed M.P.S.A (Mineral Processing Sharing Agreement) of the net profit. PAIM is now generating revenue, 60% stays in the Philippines for expansion, working operations, improvements and salaries and so on, and 40% goes to PAIM Wyoming in accordance to the Philippine Law. PAIM has its own separate community outreach funds from "ORO Operation Reach Out USA" to help the company's own community relation services and programs. "Lastly, the gold is only reported when it goes through the Central Bank of the Philippines, or sold to a private party. The company owns everything free and clear DEBT FREE, therefore it cannot and will never go bankrupt. If it did file a bankruptcy, PAIM would be liquidated, and the shareholders would make a killing!" exclaimed Bosaw. FORWARD STATEMENTS: Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. SOURCE: Pearl Asian Mining Industries Inc. Pearl Asian Mining Industries Inc. - Philippines Jeffrey Alan Bosaw, Investor Relations 402-212-7840 (USA) Direct e-mail: IRJbosaw*yahoo.com [URL=http://www.PearlAsianMining.com]www.PearlAsianMining.com[/URL] fax: 877-317-4430 [/QB][/QUOTE]
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