Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Ga Bard who wrote (921)	5/27/1998 12:22:00 AM
From: Due Diligence	Read Replies (2) \| Respond to of 4142

ROTFLMAO! let's see. 1+1= 2 Jimbo

To: Ga Bard who wrote (921)	5/27/1998 12:22:00 AM
From: Binder	Respond to of 4142

LOL...here it is...ONE MORE TIME.... Midland Inc. Announces a 50% Preferred 'A' Stock Dividend Business Wire - May 18, 1998 09:41 %MIDLAND MIDL %TEXAS %ENERGY %OIL %GAS %DIVIDEND V%BW P%BW -------------------------------------------------------------------------------- DALLAS--(BUSINESS WIRE)--May 18, 1998--Daniel W. Fisher, CEO of Midland Inc. (OTC BB:MIDL), today announces the following two items, both of which are felt to be beneficial to the company and the shareholders. First, there will be a dividend on the publicly traded series A preferred stock (MIDLP). For every two shares of existing preferred series A stock held by shareholders of record on the close of the business day, May 29, 1998, a dividend of one share of preferred will be issued. This dividend will automatically convert to 35 shares of common stock on Oct. 1, 1999, whereas the existing preferred A will automatically convert on Oct. 1, 1998. This 50% stock dividend is being taken from existing treasury so no additional dilution to the existing shares will occur. Management feels this is a fair dividend for the shareholders who have supported Midland Inc. through its early stages of development. The second matter is a reduction of the exercise price of the Midland warrants (MIDLW) from $1.00 to $0.50. This brings the exercise price of the warrants in line with the common. All other conditions concerning the warrants will not be effected. As soon as the registration statement registering the common stock underlying the warrants becomes effective, the warrants may be exercised. The company anticipates concluding the necessary SEC filings as soon as possible and has begun the necessary regulatory process. The company has concluded the field work on its audit so as to move forward with its 10-K filing, which should occur sometime next week. That sums it up. If you don't get it by now, give it up, you never will. :-) Binder