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Gold/Mining/Energy : Arcon Energy (MIDL Presently) The Ultimate Sleeper
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To: Ga Bard who wrote (1458)5/29/1998 12:41:00 PM
From: Crossy  Read Replies (2) of 4142
 
Gary,
thanks for getting this right - I wouldn'T mind exercising my MIDLW either but getting the facts straight is still important. Let me quote from the press release from May, 18th - it says nothing about a change in exercise price or warrant conversion deadline - quite the CONTRARY !

"The second matter is a reduction of the exercise price of the Midland warrants (MIDLW) from $1.00 to $0.50. This brings the exercise price of the warrants in line with the common. All other conditions concerning the warrants will not be effected. As soon as the registration statement registering the common stock underlying the warrants becomes effective, the warrants may be exercised"

This implies to ME (JMHO) that all other things staying the same. "all other conditions reg. the warrants will not be effected !"

However one question is opened - I wonder why You can exercise the warrant at all because the press release stated "as ssoon as the REGISTRATION STATEMENT registering the common stock underlying the warrants becomes EFFECTIVE the warrants may be exercised" - exactly ! I haven't seen the registration statement. HAve You seen it ? The last filing in the SEC was th NT-10K from April.

best regards
CROSSY
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