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Gold/Mining/Energy : Arcon Energy (MIDL Presently) The Ultimate Sleeper
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To: TJG who wrote (1860)5/31/1998 9:55:00 PM
From: Ga Bard  Read Replies (3) of 4142
 
Just on the big board requirement of the float alone why would anyone sell. Plus the preferred gets preferred treatment.

Now look at the SEC filings a little deeper and you will find this:

Registrant does not have a sufficiently authorized capitalization
to provide for the exercise and/or conversion of all of the
foregoing securities, and will, therefore, call and hold a
shareholders' meeting for the purpose of increasing its
capitalization. The Series A and B Preferred Stock, given their
terms and conditions, are considered to be a part of the same class
of securities as the Common Stock for purposes of Section 16 of the
Securities Exchange Act of 1934, as amended, and Rule 144
thereunder;

This is one reason for the forward split and I do expect more till they get the capitalization up to meet the big boards requirements.

GB
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