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

To: Triffin who wrote (733)	5/26/1998 12:51:00 PM
From: Crossy	Respond to of 4142

James, You say that MIDLP will be convertible at the option of the holder this fall (October). The press release from May 18th says something else: "whereas the existing preferred A will automatically convert on Oct. 1, 1998" just wanted to hint that CROSSY

To: Triffin who wrote (733)	5/26/1998 1:21:00 PM
From: stockboy	Respond to of 4142

I've been lurking for days. Signed up today and would like to comment. James hit the nail on the head. It's all about time. The warrants are convertible at $1.00. So no great value now. When they become convertible for $.50 will the stock be trading at it's historical price, $.50? If so it's a bad deal. The market doesn't believe that MIDL will be at $1.75 for long. If it did MIDL would trade at $1.75 - $.50 =1.25. As for MIDLP, October is a long way down the road. If MIDLP converted right now it would be worth $1.75(35) = $61.25. The market says it worth about half that. If you believe in this company MIDLW and MIDLP are bargains. But be careful. If the share price of MIDL drops you can still get burned. Finally, to state the obvious, daytraders are all over this one. Tomorrow they may be gone. L