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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 (2109)	6/1/1998 4:39:00 PM
From: Jay Lowe	Read Replies (2) \| Respond to of 4142

MIDLP clarification 1. Effective date - 29 May 98 If you had MIDLP at market close on this date, then you get the 3:2 split 2. Payment date - approx. 10 June 98 This is the date that the 50% additional shares from the split should appear in your account 3. Conversion date - 1 Oct 98 This is the first date on which MIDLP may be convertible to 35 shares of MIDL common. There is a proposal "in the wings" from some stockholders who wish to extend this date to 1 Oct 99 or even keep extending it forever so that MIDLP never converts. What will happen remains to be seen. This issue comes up frequently when dealing with convertible preferred equities and has no implications other than the best thinking of individual stockholders as to which choice benefits them the most. The actual decision will be mostly influenced by future events, so any claims ought to be taken with a grain of salt. MIDLP is currently the least expensive way to buy into the Arcon future, followed by the warrants, followed by the common. All these ways are inexpensive if the business plays out correctly. It is common for investors to have strong biases towards particular methods ... some will stand by the preferred, some will go for the least cost method, some will go for the most liquid method, some for the least complicated method, etc, etc. Much of the discussion you see going by here is energized by these different perspectives and horizons of time.