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Gold/Mining/Energy : Arcon Energy (MIDL Presently) The Ultimate Sleeper
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To: Crossy who wrote (1824)5/31/1998 7:51:00 PM
From: Ga Bard  Read Replies (1) of 4142
 
Crossy Crossy Crossy ... you can put the conversion date off with shareholder vote year after year after year. NOTHING says it has to convert. Also you will see the P at a much much higher price range in the future than you will the common.

I grant you you beter have a mega bunch of ametuer novices with a BUNCH of shares if you think for one second the savvy long termers than have been accumulating the P for 9 months are going to let their stock even have a chance at converting.

There is NO WAY I want to see the common get flooded with 8.4M which is the dilution factor of the P much less probabluy 4 times that amount in the future. I am hoping for more and more free stock to come to the P with each dividend and split that I feel is going to have to happen.

If you want to sell the common then sell the P same difference.

As far as your logic to arbitrage. I doubt you see that to abitrage aginst the P is total absurd. You can't buy and sell enough P to do the abitrage with a no risk factor. If you try and the P gets changed for another year ... UH OH you have to cover the short position on the common.

HOWEVER, for and off shore shorter or someone arbitraging an option conversion would be IDEAL that would set up the no risk factor.

Now come on think before you decide to post stuff that makes no sense. You ideas and opinions actually would establish arbitrage in my limited knowledge and opinion..

GB

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