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Gold/Mining/Energy : American International Petroleum Corp -- Ignore unavailable to you. Want to Upgrade?

To: DRRISK who wrote (8630)	5/19/1998 9:29:00 AM
From: ackbh	Read Replies (1) \| Respond to of 11888

Closing the Russian Deal Soon? Exerpt from SEC 10 Q: On April 21, 1998, the Company issued and sold $5,000,000 aggregate principal amount of its 14% Convertible Notes due April 21, 2002 (the "Convertible Notes") to certain institutional buyers (the "Holders") for a total purchase price of $4,950,000 (the "Initial Closing") pursuant to a Securities Purchase Agreement dated as of April 21, 1998 (the "Securities Purchase Agreement"). The Securities Purchase Agreement provides for the issuance and sale to the Holders of an additional $7,000,000 principal amount of Convertible Notes (the "Second Tranche") for a purchase price of $6,930,000 on May 15, 1998 or such later date upon which certain conditions precedent to closing have been satisfied or waived by the Holders. A significant portion of the proceeds from the Second Tranche is expected to be used by the Company to purchase the Nafta working interest and for related initial development costs. The obligation of the Holders to purchase the additional Convertible Notes shall terminate if such conditions to closing have not been satisfied prior to May 31, 1998. The Convertible Notes are convertible into shares of Common Stock at the option of the holder thereof, commencing upon the earliest of (x) June 30, 1998, (y) the date the related Registration Statement (filed on May 15, 1998) has been declared effective by the Securities and

To: DRRISK who wrote (8630)	5/21/1998 10:53:00 AM
From: taxikid	Read Replies (5) \| Respond to of 11888

comments: i am voting no to 3,4,5 for the following reasons: faris made over $500k last year. aipn- the collective shareholders made how much? forget the price of stock.... if you bought @ $7 you wish you never heard of aipn. screw the 25k shares of stock=$10k payout.. if thats the case i wanna buy 25k shares for $10k.. why should we continue dilute ourselves and pay over 1/2 million to faris? stock option plan..yeah right.. what did the warrants or the "public stock options get us?) umm.. that last part about suggestions only from those that have owned for over one year and have to disclose their holdings.. it may be ok for ge or ibm, but a money losing penny stock should take their free advice wherever they can get it... I have done more for this company by posting this than hey will ever get done paying millenium. oh and faris borrowing money then paying it back interest free.. then buying convertibles and converting and then "lending" the company $500k.. well maybe if he didn't pay himself $600k plus options, the company wouldn't have to borrow it... somebody ain't gonna like me at the shareholders meeting.... it's our dough they are playing with... my only regret is that i didn't have it for a year.. taxi