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


To: George Burdell who wrote (2003)6/1/1998 11:59:00 AM
From: Dave Gore  Read Replies (1) | Respond to of 4142
 
Not sure, but this might lead to a lawsuit, if true, or at least an extension of the dividend date. There are about 100 of us that are pissed that they "appear" to have changed the terms of the "P". They even kind of buried it in that press release a bit.

Lots of us would have bought the "P" before the close of Friday if we had known they were changing things. These guys are getting cheesier every day with the warrant and "P" stuff.

Lots of misinformation and misleading by the company over the phone last week reagrding the W's having to be exercise by the end of June, now the change of terms of the P's without warning, etc.

They better be careful! Great product or not... they are playing too many games.

The reason many of us did not buy the "P's" is because they required we hold this thing until Oct. 1, 1999 to get the dividend. Now this.

Before anyone says, "stop crying".... this is NOT professional and may not hold up, if true. I would imagine that 30 days notice minimum is required to make changes of this magnitude. Comments?



To: George Burdell who wrote (2003)6/1/1998 12:19:00 PM
From: Ga Bard  Respond to of 4142
 
Effective at the close of business on May 29, 1998, the previous announced dividend of the Series "A" Preferred will be implemented as a 3:2 split. Signature Stock Transfer will be notifying the DTC of the terms over the weekend. Midland Inc. has notified NASDAQ of the 3:2 terms.

Simple as that .. just waiting on the finacial world.

GB