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Gold/Mining/Energy : Arcon Energy (MIDL Presently) The Ultimate Sleeper
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To: Dave Gore who wrote (2107)6/1/1998 5:21:00 PM
From: Ga Bard  Read Replies (1) of 4142
 
Ok the newest issue which I am working on is the conversion date

1.) I think that Crossy has made some valid points as have I
2.) there is a solution but for now I am for extending the Oct 1998 conversion date on the MIDLP stock (Series A Preferred new and existing)
3.) The optional conversion to shareholders is sound because it does not dilute the float at one time suddenly.
4.) I like the stagering of the conversion
5.) I feel that shareholders that do not wish to convert should get a dividend or something for hold the Preferred.
6.) I am not fully convinced as to what to do except not let the Oct 1998 conversion happen because of the arbitrage that will happen.
7.)Arcon's only fault is not planning this out before hand. However it does make learning fun. They are learning too.
8.) They just gave a 50% increase in the MIDLP holdings so they are trying.
9.) For what I will make on that alone I do not have a problem with their lack of knowledge of what they can and cannot do.
10.) They would like to get the stock corrected first and foremost which is what we all want.
11.) Now doing it is a different matter all together.
12.) Making point posts should assist in questions/answers

GB

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