Replies to post #4305 on ZNext Mining Corporation, Inc (ZNXT)

[Astrocade]

According to PAIM, possible naked shorting, enough to release a PR on the subject.

March 20, 2006 - 2:37 PM EST

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Pearl Asian Mining Industries Further Clarifies to Its Shareholders the Preferred Shares Dividend and Its Impact on Naked Shorts
Pearl Asian Mining Industries Inc. (OTC:PAIM) today requested that Shareholders entitled to receive their preferred shares dividend to contact their stockbrokers on March 31, 2006, to request for the issuance of the actual Preferred Share Certificates to be registered in their name(s), and to take delivery of those preferred shares.

The reason for this extraordinary action requested is due to the belief by Pearl Asian that one or more market-makers and others may have shorted PAIM shares without first borrowing shares, creating a large naked short.

The One Thousand (1,000) Preferred Shares Dividend for every one common share of Pearl Asian Mining Industries Inc. (PAIM) held by record shareholders on March 17, 2006, will be paid out on March 31, 2006. Therefore, it is advisable that all the shareholders that bought shares in the open market to notify their stock brokerage firms to request for (1) Actual Certificate of the Dividend, (2) Include the Name of the Beneficiary and (3) Delivery To Shareholders Address on March 31, 2006.

Anyone that bought the company's common shares out of the market before the X-Dividend date, under the symbol PAIM and held those shares until the X-Dividend Date set by NASD as March 15, 2006, are entitled to receive the 1,000 Preferred Shares Dividend per one common share of PAIM. Shareholders that bought PAIM shares out of the market, on or after March 15, 2006, are not entitled to the dividend.

Forward-Looking 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.


Pearl Asian Mining Industries Inc. - Philippines
Richard C. Miller, 770-336-5824
Fax: [phone]
[e-mail]
www.PearlAsianMining.com



Source: Business Wire (March 20, 2006 - 2:37 PM EST)

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