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

To: TJG who wrote (1791)	5/31/1998 3:17:00 PM
From: Kurt N	Read Replies (3) \| Respond to of 4142

If nothing else, at least we will all be better educated about certain SEC rules/regulations. Assuming SEC rules do not allow the 'automatic' conversion to take effect of the Preferred stock into Common and that Oct 1998 is the earliest that the MIDLP may be converted into MIDL, why would somebody decide to NOT convert it?? Why shouldn't one convert their MIDLP to MIDL on Oct 1998??? Only valid reasons I can think of would be future dividends in 1999 AND that MIDLP would be trading at a premium to MIDL (after conversion). [edit: Kurt quietly counting the common that he will have upon MIDLP conversion and upon exercising MIDLW in addition to what he already has.] Kurt