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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 (2256)	3/25/1998 4:13:00 PM
From: david james	Read Replies (1) \| Respond to of 2841

Well, from what IR says, McGinnis got a margin call a couple weeks ago on the stock he owns (285,000 shares or something like that). He didn't want to sell any of that, so he converted some options to cover his account. That filing to convert (a 144) just appeared on Edgars, so it probably created some selling pressure. Interesting that McGinnis and Norris decided it would be best to refuse their bonuses, but the margin call forced him to convert some options to cover his holdings. I think I would have preferred that he take his bonus and cover his margin that way. But I guess he didn't expect the fall of the stock. Just like I didn't. Norris as COO - hmmm. Maybe something to be announced soon from Eco. David

To: Peter H. Mack who wrote (2256)	3/25/1998 7:41:00 PM
From: david james	Read Replies (1) \| Respond to of 2841

From what I've heard, Bruce Tobeksen was previously at Chemical Waste Management, which I think was a division of Waste Management (WMX) and I believe he is a CPA. I can't find anything on the web about this though. Hopefully we will see a press release soon if Norris was indeed 'promoted' to COO and Tobeksen to CFO. I know a number of people that will consider this move to be a big positive if this is the way it goes after the way the last earnings turned out. I noticed this on the 10k with reference to SRS At November 30, 1997, the Company's total investment in these joint ventures is approximately $3.7 million and the Company has receivables from the joint ventures of approximately $1.5 million. During 1997, the Company sold and leased certain equipment to the joint ventures in the amount of approximately $5 million. The Company has deferred profit on these transactions to the extent of its ownership interest in the amount of approximately $1.6 million. That $1.6 mill deferred income would be almost 10 cents. I suspect this is part of the disagreement with Coopers, and would have given us $1.18 if it was allowed. But at least it should appear in the following quarters. David