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Gold/Mining/Energy : Arconenergy, Inc. (Long Term Investors and Fundamentals)
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To: rinkerj who wrote (98)2/9/1998 8:11:00 PM
From: Ga Bard   of 1757
 
Also please understand in the answers I wrote down, because it was what was stated, the term the convertible debentures. This type of financing has two flaws to it. Now one they have to be register with the SEC with takes at least 9 months plus because everyone including the buyers generally get nailed for issueing them. This type of financing generally does not work to the company's advantage and merely shoots themselves in the foot. However Mr. Fisher did not make this statement concerning this type of financing. Again the term was used and I would have been altering what I was told if I took it out.

The company assured me there are no convertible debentures existing nor is there any intent of doing that type of financing. There are much easier and simplier ways to do the financing with the perfer that is available with the restricted shares existing and possibly the C and D type stock with time and sell restrictions. NO common is going to be issued to harm the float.

I have talked to the company today on this subject to double check what I am posting on this matter and subject. I was assured that after researching that terminology that what I have just stated is correct. Again the 'C' and 'D' maybe an option to raise the funds with time and sell restricitons but no more than absolutely neccessary. If you read the entire conversations if some acquistions come through with the connections to cornerstone etc. There will be no need for any if minimal perfered much less the horrible convertible debentures.

But it was said and I did post it and I have clarified it. If this should happen we will know it long before it ever happens.

Hope this helps

Please post what you feel for everyone to see including good and bad. We want proper and solid DD not selective.

Gary
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