American Eco (ECGOF, ECX on Toronto exchange) Message Board

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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange)

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To: Harry_Behemoth who wrote (221)	7/17/1997 12:27:00 PM
From: MARK BARGER	of 2841

Obviously, the debenture financing use to make the Chempower acquisition is not the preferred method of borrowing as indeed you are at the mercy of the debenture holders when they decide to convert into stock. However, a small company like Eco. has limited options to coming up with $50 million to buy companies like Chempower. Until the stock price appreciates to a more fair value issuing shares as payment to any aquired company is a rip off to Eco. It's like Mike Mcginnis says, "Just trust me, we will continue to expand and I will use the best method of financing available at the time." He has had a golden touch lately and I do trust his leadership, but I feel that the market does not , hence the PE of 9. The stock is up to 8 9/32 maybe this baby is looking better to people holding those Dow stock with their PE's of 40. Enjoyed all your input. Mark Barger

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