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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: mabiba who wrote (26450)	10/17/2003 11:45:46 AM
From: Bernie Diamond	Read Replies (2) \| Respond to of 206085

mabiba: My understanding is that if you elected to open a new, strictly Ameritrade account (~4-5 days), and then transferred your PGOGY Datek shares to your new Ameritrade account (which can trade in the pink sheets) that they could execute the rights offering. I felt uncomfortable with that scenario so I sold the shares of PGOGY they had in my account - about 1/3rd of my total PGOGY shares. I will be converting my Brown & Co shares to the newPGO, in the hope that they will significantly appreciate over the next couple of years. Of course, the seismic industry will need to turn around by then. :-) Management says that they will apply for the newPGO shares to be listed on a major exchange ASAP. Who knows how long that will take?! I don't know what happens in the interim since the price of the newPGO shares have been estimated to initially sell from the mid-30's to the low 40's - not your usual pink sheet penny stock. A number of serious posters have indicated that they prefer to wait until the newPGO shares can be purchased, and are/will be selling their PGOGY before the rights offering expires. They are betting that the price drops ST. I don't know what the tax consequences will be. Again, the value in the proposed restructuring is only the ability to purchase the newPGO shares (1/129.18 shares @ $14.17) and NOT the 4% newPGO you will receive at no additional cost. So if you're not buying into the rights offering, then sell before the rights offering expires (date not finalized as far as I know). Good trading! Bernie