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Gold/Mining/Energy : Arconenergy, Inc. (Long Term Investors and Fundamentals) -- Ignore unavailable to you. Want to Upgrade?

To: Gary Lutz who wrote (1500)	5/15/1998 4:46:00 PM
From: Randi	Respond to of 1757

Gary, post # 13 on this board has a very good rundown on all the share counts and how they play out and when....... Randi

To: Gary Lutz who wrote (1500)	5/15/1998 4:48:00 PM
From: Kurt N	Read Replies (1) \| Respond to of 1757

Info on # of preferred has been posted several times. Off the top of my head here we go. The public float for MIDLP is about 54,000 shares, and there are about 117,000 shares outstanding. The other shares are either restricted shares held by insiders (ie. when the MIDLP converts to common their common will be restricted for 1 or 2 years) and/or treasury stock. Public float (MIDL) is currently ~975,217, ~2,865,217 when the 54k MIDLP converts to MIDL. Kurt

To: Gary Lutz who wrote (1500)	5/15/1998 6:13:00 PM
From: Ga Bard	Read Replies (1) \| Respond to of 1757

This is the best I can come up with from the SEC filings is the following .... The 8K for new departure has been cancelled. 2,575,217 Common ( 1.6M insiders / 975,217 Free trading. ) 4,108,860 Dilution from Series A ( 117,396 ) 54K in MILDP Float 22,350,000 Dilution from Series B ( 149,000 issued to date ) ---------- 29,034,077 fully diluted common shares as of today MIDLP = preferred 'A' the other 63,396 are held by the company which are restricted for another year and 6 months before be able to convert. The 'B' are all insiders and have a 2 yr restriction before they can be converted (self imposed) THEN another 2 yr restriction before they can be traded after that. Again insiders and SEC rules and regulations apply. MIDLW are warrants that allows the holders to exercise I guess at anytime to purchase 1 share of common stock for 1 dollar, expiration 2001; Target - $2.50 or higher for ten trading days; After target is met company can recall all warrants for .05 cents I believe. Note: for every warrant exercised the company will get $1.00 for each share exercised and the warrant market is done away with. ME I am playing the warrants for momentum only. I have NO intention of exercising them. Can not guess on the dilution factor at all till the warrants are exercised. So in Oct of 1998 this year the MIDL float will dilute to the 2,575,217 plus 1,890,000 (54x35 MIDLP) = 4,465,217 minus the insiders 1,600,000 = 2,865,217 free trading float. No other dilution I know of till Oct 1999 which is where the other 63,396 preferred A converts which will dilute another 2,218860 making the float 6,684,077minus insiders 1.6M = 5,084,077 Free Trading in OCT 1999. Now this should be accurate for the most part accurate. GB