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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 (2376)	4/14/1998 11:11:00 PM
From: david james	Read Replies (1) \| Respond to of 2841

I think EIFH has about 9 mill shares in the float - out of about 25 mill, the rest is own be insiders. (Which will be smaller of course after their reverse split). So the votes will go any way mamangement wants. But the original plan was to show some massive dilution where Eco would buy 10 mill shares for 10 cents - in addition to the other shares planned. So if EIFH found another way to raise the cash to pay back Eco, it could make EIFH an interesting investment. Well, on freeEdgar, Eco just filed to delay their 10q - sigh. Although sounds like IR is still saying that they will be releasing earnings tomorrow. State below in reasonable detail the reasons why Form 10-K and 10-KSB, 20-F, 11-K, 10-Q and 10-QSB, N-SAR, or the transition report or portion thereof could not be filed within the prescribed period. (Attach Extra Sheets if Needed) A major systems problem occurred at one facility at the end of the accounting period which delayed preparation of the consolidated financial statements. The systems problem has been remedied.