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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 (2665)	6/6/1998 6:14:00 AM
From: H-Man	Read Replies (2) \| Respond to of 4142

P Conversion Thoughts.... I'm undecided about extending till 10/99. At first I liked the optional idea. I think I understand your point. What concerns me, is that lets say, the common is $50 in a year or so (I know that would be awfully fast but here me out). If the current pattern continues, the P's would be trading at a 50% discount. I would hate to miss that opportunity. (read that pay off the mortgage ;-) ). I have not thought through this idea completely but would be interested in others opinion on this; Would it be possible, to set up a structure similar to the warrants? i.e: - When the C price hits x for y days, the P's convert, or 10/99 which ever comes first. - The c price should be relatively high,compared to current level imo, at least 25, possibly 40. - y, would be at least 10, maybe 20 trading days. Anyway I'll think on that some more...