LOL You know you are into a good thing when the Naysayers come out...Im slumming it on Cyberwhispers, (a/k/a - The Investor's Enquirer) and ran across our first DoubtTouter...Here is my response, just in case anyone is interested...
Sandra, or Jodi, or whoever you are....
In response to your first two paragraphs, please read
Message 3314240
In response to third paragraph, the Class B Stock may or may not ever be converted. They are not automatically converted, meaning that they can only be converted with Board approval, and in compliance with the SEC. Since there are tight regulations on insider trading, we will know if any B series is converted, and we will know if they will ever be publicly traded.
As per your last sentence of your third paragraph, you are correct in your statement that many of these shares are carry-over of American Cup. However, that stock structure is one of the reasons Arcon Energy was acquired by Midland.
It has a 1.2 mil float with a 2 dilutions over the next two years, which are both extremely reasonable.
In response to your 4th paragraph, you apparantly do not understand the dynamics of a troubled shell. It was quite apparant that some money people came into this company back in September. In October, New Departure was acquired, which gave the shareholder equity value. Also, they were able to file all of the SEC filings to clean up the shell at that point.
Everything prior to the acquisition of New Departure is a mute point. It is not relevant.
The casino was bought by Midland to subsidize shareholder equity. However, it was not liked by many of the shareholders, who were trying to figure out why MIDL would buy a casino, when New Departure was a bearing co. Since many didnt understand, and could not see the shareholder equity, the Board decided to sell the casino. It is my understanding that the casino is now trading under OTC-CNHH, with 480,000 shares in the free trading float. I think the speed in which they got rid of the casino was admirable, since the board realized that the shareholders did not WANT a casino, and acted accordingly.
As far as your fifth paragraph, it is true that the company gets out of deals. However, as a shareholder, I would prefer a company who can get OUT of a deal as opposed to getting neck deep in something I don't like. Besides, the previous CEO of New Departure, Wayne Duke, did not like being a public company, and wanted to take his company private again.
So, when the deal with Arcon came about, they sold it back to him, and acquired Arcon. It was a win -win- win situation for Mr. Duke, MIDL, and all of us sharholders who saw a dramatic increase in our sharholder equity with Arcon in the picture.
As far as the typo of the name, yeah, its sloppy, but stuff happens. I would not consider lack of Spellcheck a factor in determining shareholder equity.
As for your last sentence, "none of the releases identifies how the Bob West property was financed", It was a pre-existing division of Arcon Energy, and was owned by Arcon prior to the acquisition by Midland. It is merely now being transferred into the MIDL shareholder equity.
I highly doubt this acquisition will fade away like any of the others. I think if you look at the big picture, you will see that each transaction has increased shareholder equity. I think that this has been by design, and is a shrewd and deliberate move by the company, again, to increase shareholder equity.
Also, no acquisition before put out a news release of a shareholder meeting, or a symbol change, which will be happening in February.
Also, I believe if a better company came around, which would increase shareholder equity more than Arcon has, both the MIDL and the Arcon Energy Board would probably not object, if it would increase shareholder equity.
As per your last paragraph...<If you are going to hype the company, please tell us something positive beyond the press releases>....What you are asking for is insider info on a company that has been public for about 6 days. You will have to wait for the 8K which should be out in a few weeks, and the 10K, which should be out in March, since this is a fully reporting company.
I think most of your questions have been answered, excpet for revenue, expenses, etc. Again, I don't think these people are going to violate insider trading rules on the 6th day in....you will simply have to wait until the 10K like the rest of us.
As far as your overall post and intent, it merely shows that you are not interested in facts. You just want to slam a stock. GaBard has put just about everything there is to know about this one on the Arcon Energy Thread on SI. So, where is the Hype?
One last thing....I notice that you are so concerned with the goings on in this company, that you neglected to mention, even once, the shareholder equity increase each time an acquisition was made.
Maybe if you did a little more reading, and a little less posting, you could have your FACTS in hand before stepping up to the podium to debate a stock.
You have a nice day.
AnnaMcM |
