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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange) -- Ignore unavailable to you. Want to Upgrade?

To: Peter H. Mack who wrote (1771)	2/25/1998 4:57:00 PM
From: Hunter Vann	Respond to of 2841

~~remarkable~~ Thanks for the continuation of your due diligence.

To: Peter H. Mack who wrote (1771)	2/25/1998 9:32:00 PM
From: Duncan	Respond to of 2841

<<Duncan... if this is a convertible promissory note, was there any date mentioned for converting the note to $3.00?>> Peter: I wish I knew the term for these Notes, but I don't. I was unable to get all my questions answered by Mike M today. Mike had to take another call, so I addressed the nitty gritty points first. I suspect the Notes will have a 2-3 year term...or there about...because they DBCO shareholders can not convert shares during the first 6 months, then they can only convert 1/3 on six month increments after that...for a total period of 2 years before all shares have been converted at the earliest. Intuitively speaking, I think all remaining and unconverted shares at the end of two years should be bought by ECO for $3 plus interest or forced to convert. That would make the most sense. We'll see. Duncan