Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Triffin who wrote (2129)	6/1/1998 6:08:00 PM
From: Ga Bard	Read Replies (1) \| Respond to of 4142

1) Until MIDLP trades "XD" buyers will be credited with the split by their clearing firm..You will know when this event occurs because you will have the split shares credited to your account the pre-opening on the "XD" date. Exactly and I have confirmed this also and I bought more at the close of the day just in case. 2) If issuing 50% more MIDLP shares would have exceeded the authorization then existing shareholders (us) would had to have "VOTED" and "APPROVED" an increase in the number of authorized shares to accomplish this split...BEFORE THE FACT.. NOT AFTER... Exactly and that is SEC law .. That kills the heck out of that rumor which I could not get the poster to post openly. Assuming that the prfd A holders as a class have the right to amend the terms of the prfd A...any proposed amendment "MUST" preserve the convertibility feature as that is what gives the prfd "A"..MIDLP its value; otherwise it becomes a common derivative with the right to receive 1/10th additional share of "A" and 5 additional warrants if certain financial requirements are not acheived by this August and will trade accordingly..forget about it ever trading at 35 times the common price... Exactly and the conversion must remain in tact ... It is the conversion date and all the shares hitting at one time I have a problem with. Since I have requested the sjareholder meeting to vote on this .. we might want to discuss our options as to what to do to prevent arbitrage as the conversion date draws closer. I feel that the best "amendment" again assuming we can change the "A" at all would be to make it "convertible at the option of the holder"....The potential dilution/arbitrage risks are overstated. I am not sure what we can do at this time and some DD needs to be done to see what we can do. Either extend for now and then make it optional or leave and make it optional. Crossy and you are right and I am wrong (like I have not been before) the best way is to do it so not all hits at one time. AND exercise the dang warrants.... who the heck do you think is getting the exercise $$$$$$$$$$$$$$ OUR COMPANY.......... Exactly .. lets get a plant built and get on with it. Man what a day. Learning everyday I am in this market. Getting to where you can't tell a investor with out a program. GB GB