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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 (1185)	5/27/1998 7:10:00 PM
From: Dusty	Respond to of 4142

Gary, I hear you and relax! Kick back you have earned it man.LOL I just wanted to see you get a satisfactory answer. I know mine was a real stretch... LOL Dusty :o)

To: Ga Bard who wrote (1185)	5/27/1998 8:21:00 PM
From: xdll	Read Replies (2) \| Respond to of 4142

Gary, First I want to let you know that all your hard work in creating a newbie resource was not in vain. I just finished reading every link (ok I skimmed a few). Thank you for putting them together as well as all the hard work you and others have put into dd... I am excited about this stock but I also have some questions. If these have been answered already, please forgive me. 1. What is the difference between a Common, P and Warrant? <<< This is a joke, I am a bit punchy after reading all those posts!>>> Seriously, 1. Is it known what the arrangement was in acquiring the patents? Specifically, what did they pay and is there a royalty? How much is the royalty? 2. How many warrants are there? Your calculations of dilution didn't seem to include these... Could there be 10M? Is this a reason they are so depressed? 3. Why did they do this reverse merger with Midland? Why not just start fresh? It seems strange... 4. Gordon Stuntz had some interesting points. Of particular concern is the validity of the patents. Plenty of patents are granted that are later revoked in court. I am not sure we will know the answer to this unless they are successfully/unsuccessfully challenged in court. 5. What sensitivity is there to ethanol prices? What if corn prices explode while oil stays low... Doesn't that make ethanol blends less attractive. (I kind of discount this because of environmental reasons but it came to mind, so I thought I'd ask) 6. This sounds way to good to be true, so I guess that in itself is a big question, but I am an adult, so I guess I will form my own judgement here. Finally, the release of the 18th: I too would like to understand the rationale behind this.repricing the warrants may be to draw in more of them by encouraging conversion. To raise money? to reduce arbitrage? I don't know. I am still new at this game. Another thought. The preferred shares dividend. Does this not mean that shorting of P shares at the moment has become very dangerous. If a new preferred share 'P2' (1999 ones) is created anyone short will not be able to make good unless they get some. If I were shorting P shares I would be worried about a squeeze on the P2 shares or on P shares based on the fact they can trade separately and an imbalance could occur. But then you would expect the P share price to rise in the run up to tomorrow as shorts cover... (hasn't happened, I guess there isn't much P share short interest or we'll see tomorrow.) I'm new to all this so I would appreciate your feedback. (BTW, I am long already based on what I know) Thanks in advance, x

To: Ga Bard who wrote (1185)	5/27/1998 8:42:00 PM
From: jeffrey rainey	Read Replies (2) \| Respond to of 4142

Gary and all just got this from Steven King via "E" mail. From: Steven To: ALL PREFERRED SUBSCRIBERS Re: MIDL Midland is going through ups and downs and we have just discovered an important event that you must be aware of. The stock has been on a roller coaster since yesterday. We have researched the trading cycle and have found a classic manuever called "Arbitrage" taking place with MIDL.. It is imperative that you understand what this means as it is effecting the stock price. We brought to you MIDL over this past weekend and the stock has soared since then. However, the ones making all of the money at this point are the Market Makers and not us. Here is what is happening. A MM (market maker) is buying the MIDLW (warrants) for .56 cents per warrant. (keep in mind that they can surrender the Warrant plus .50 cents to convert it to one share of Common Stock. ( New basis per share of Common of $1.06 per share. Then the MM sells "Short" the Common at the Bid price of the Common ($1.75 per share) thus resulting in an immediate profit of .69 cents per share. When the Common comes back down (as a result of the heavy selling), the MM then buys back the Common and then sells the Warrants (which were what he used to cover the sell with.) This is virtually a no risk bet for the Market Maker, and a huge profit. We estimate that the market makers profited over $500,000 dollars yesterday alone as a result of this. We are here to rain on their party. To that end, we suggest that investors should look at acquiring the Warrants in lieu of / addition of the Common. Remember, you can exercise the Warrants at any time for .50 cents. FAILURE TO EXERCISE THE WARRANTS WILL ONLY LET WHAT IS HAPPENING CONTINUE TO HAPPEN !!! The opportunity to reduce your basis by acquiring a Warrant is also a smart move for consideration. If you bought in at $2.00 and you can buy a Warrant (and exercise it for) $1.00 then your basis is $1.50 per share instead of $2.00. It could be a good insurance policy. This Company is going places within the near future. We still believe that this is a huge play for the next three months. However, we have just discovered what is happening after studying the trading journals and must relay this to you immediately. We are expecting news in the near future, however, we couldn't find out any details, the Company is very tight lipped about it. With this full knowledge, it is up to you to decide your play. We will keep you posted of events as they happen. The following is a link to a well known Silicon Investor that has explained the "trilogy theory" in more detail. Message 4575525 Steven *