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

To: Ga Bard who wrote (812)	5/26/1998 6:28:00 PM
From: Crossy	Read Replies (3) \| Respond to of 4142

Dear Gary, on the trilogy, MIDL, MIDLP and MIDLW, since there are so many opinions being posted all over this thread, often contradictory, I would like to ask You this: First I perceive the Warrants MIDLW and the Preferred MIDLP as undervalued, if You compare their inherent AMSC for the common with the current common's quote: MIDL: $1.43 MIDLP: $26.5 -> amsc MIDL equiv: $0.50 -> 65% undervalued (with the 50% dividend factored in) MIDLW: $0.56 -> amsc MIDL equiv: $1.06 -> 25% undervalued OK, that being the intro, now my questions: 1) MIDLW : do You know when precicely when the reduction in exercise price to $0.50 will take effect, when the conversion period will start and whether the old $2.50 ceiling was wiped out, replaced or made mandatory ? 2) MIDLP : question here is the settlement period. If one bought MIDLP say tomorrow or Thursday. Does he qualify for the dividend ? What can such a person do to qualify ? Apart from that I'm glad to hear that Mr. Norman's reservations were straightened out either <g> - I never doubted that but bought more "P". IF this goes on and the Warrant will narrow first to its AMSC - since the conversion period should be active right now or soon be, I will convert my MIDLW to MIDLP.. Called my broker - he told me he never saw that kind of disparity in valuations. He traces it back to fewer Market makers in the Preferred and uncertainty regarding stock dividend and conversion.. regards CROSSY

To: Ga Bard who wrote (812)	5/26/1998 6:52:00 PM
From: Dusty	Read Replies (1) \| Respond to of 4142

Gary, I would sure hope you told him to explain himself in the future we are not playing games here! This serious I sure as $^&$%#$ take the money I have invested real serious! Had he taken time to explain to me he needed help and wanting information I would have directed him to a source of information. As it is he got his ass*ets in real hot water. Heck, we could all be idiots here and he might lose again... LOL Dusty :o)

To: Ga Bard who wrote (812)	5/26/1998 7:43:00 PM
From: vpother	Read Replies (3) \| Respond to of 4142

For those who haven't had a chance to do some DD, here are some links that Gary has referred to on previous posts. There's a lot of work behind Gary's summary. IMO, it additionally provides some insight into Gary's reasoning, or at least it seems that way <g>.... a) research on various aspects of Arcon/Midland: techstocks.com b) research specifically from the investors package, available from Arcon, with the SGS test data: Message 3373602 c) SGS' website: sgsgroup.com If there is still doubt about the results, contact SGS in Deer Park, TX and Nashville, TN to verify the meaning of the tests. Have your SGS file number and Lab number handy (obtained from "b" above). Remember this is a SEC compliant company...the regulations themselves would make Arcon think twice about the published news releases and information in the investor's package profile (about 50 pages of information from pictures to test data). Enjoy, Vipul