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

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

ECX 1.705

-5.3%

3:31 PM EST

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To: david james who wrote (2185)	3/23/1998 1:16:00 PM
From: Peter H. Mack	Read Replies (1) of 2841

The 10k for EIF has made some interesting reading and brings up some questions that I would suspect that you have looked at.. ECO holds $17.9 mil of receivable from EIF, convertible to shares at 85% of price for preceding 5 days.. At current prices, this would indicate they could pick up 57 mil shares this way effectively expanding their ownership to roughly 80%. Meanwhile Mr. Fradella has an agreement from ECO to purchase 8.8 mil shares at .65 each. Since EIF revenues jumped last quarter to 10mil with prospects of continuing, it would seem that ECO is in a very good position on this deal. I wonder how this will arrive at ECO's bottom line and when. Whats your take?? Reading through ECO's 10k (the complete filing on SEC Edgar) I am finding this as a very complex statement. The glimpse filing on Edgar on line simply doesn't do a decent job on this one. On the whole it looks very good. regards pete

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