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Gold/Mining/Energy : Arcon Energy (MIDL Presently) The Ultimate Sleeper -- Ignore unavailable to you. Want to Upgrade?

To: SC Anderson who wrote (525)	5/24/1998 9:13:00 PM
From: Kurt N	Read Replies (1) \| Respond to of 4142

Existing preferred conversion ratio is unchanged. It is still 35-1. Press release was telling us the conversion ratio on the dividend. The preferred is trading close to 35 times the common, which is what it should be. When the dividend is payable to shareholders of record on the 29th, the price of the existing preferred will remain the same. Some might think that it should trade at 35*1.5 = 52.5 times the common, and after the dividend is paid out then the existing preferred will trade at 35 times the common. The dividend is still not reflected in the current price, which is good for existing shareholders accumulating more and for new shareholders. Kurt

To: SC Anderson who wrote (525)	5/24/1998 9:57:00 PM
From: Ga Bard	Read Replies (3) \| Respond to of 4142

You got right ... the MIDLP AMSC is $0.575 for common on the total conversion over the conversion dates. As it moves up to say to say $52.50 for the P the AMSC for all shares including the dividend over the 17 months of conversion time is $1.00 for common. GB