Walter, if I may respond for Vince, he made the Medinah Gold holdings very clear in previous posts*. He was just clearing up for me under which circumstances the preferreds could be converted. That's why the Medinah Gold holdings were not mentioned in his most recent reply.
So, recapping out loud for anyone to correct if I'm wrong :
NPEC holds preferreds in MDHM which can be converted only if MDHM trades over $1. 1/3 of the preferreds can be converted July 1999, 2000, and 2001 again only if MDHM trades at over $1 or upon takeover. Otherwise, SOL.
NPEC also holds 1.89 million of 11.69 million Medinah Gold Inc. shares, which presently do not trade.
Very exciting things to speculate over! Last interesting point to me is the perceived short position in MDHM shares. I see the number 60 million knocked around, but I 've seen postings that the company's own best estimate is 25 million. I thought that 10 million are registered as short and that the rest were to be confirmed by the end of last week. That must be wrong or we'd know the definite number by now.
For my benefit of all of us who do not follow MDHM, could you please give the number of registered shorts, when they are all to be registered by, and when they are all to be covered by? It seems to me this should all be of record by now, but there must be points of contention or IMO we'd have seen a commensurate rise in share price to reflect this situation already. If known, what is the crux of the argument for and against the short speculation? Much thanks in advance!
* EDIT - I just noticed Vince's own reply to Walter, but it took me that long to type this post. Will leave it as-is. |
