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

To: david james who wrote (2266)	3/25/1998 10:58:00 PM
From: Peter H. Mack	Read Replies (1) \| Respond to of 2841

David... That paragraph is certainly one of the more difficult paragraphs to understand. 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. Wouldn't the $1.6 mil dollars be distributed among the shares in effect at the time it is paid in. I should think that it would be 19 mil shares instead of 16. or roughly .08 share.