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

To: Vegas who wrote (1943)	6/1/1998 9:33:00 AM
From: Crossy	Read Replies (1) \| Respond to of 4142

Vegas, I meant the same. However Kurt's and Gary's concerns are valid- it would be unwise to convert too soon and it would be even more unwise to have a conversion option on the "P" before the Warrants will have been recalled. The float could trade erratic - I view this as a valid concern. I don't fear of shorters and even less of arbitragers - if people act RESPONSIBLE and don't be sheep we would not have the 50% discount in the preferred as now. best regards CROSSY

To: Vegas who wrote (1943)	6/1/1998 9:53:00 AM
From: Ga Bard	Read Replies (2) \| Respond to of 4142

You are wrong... The P shareholders cannot get screwed.. Geeze .. We extend the date of conversion and every savvy investor knows why. To prevent arbitraging the P against the common. Simple as that and for no other reason. Crossy is dead wrong but that is why we have these boards. People need to understand more the TA, FA and use common sense. The dynamics of trading should be taken into account ... There are a lot more shorters out there than investors. They have more ways to make money because there will always be sellers but not always buyers. I like Crossy but he will see the light soon enough ... He is not a sheep and learning. Have to rattle his cage sometimes. The conversion just be extended to next and next year the next and so forth till the company has sufficent revenues and so forth to maintain the stock for a conversion. However once you convert you loose the benefits of a preferred stock. GB