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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 (2953)6/9/1998 2:18:00 PM
From: Kurt N  Read Replies (2) | Respond to of 4142
 
I take a mini-vacation going home, go to my sisters high school graduation (along with some of my MIDL shares), eat pastie (real treat..since I can't find them down here.) and I find news on almost all my stocks.

Dan Fisher leaving adds another to piece to the MIDL puzzle. On another note I am only 3 pieces away (out of 4) from winning $50,000 and a Jeep in a Krystal contest. :-) Couple of pieces away from MIDL @ $50+

Would be nice to retire the stock the special preferred stock Fisher has, but there is no such thing as a free lunch (unless someone else pays). Company could use some of the cash from the warrant exercisal, or may have cash on the balance sheet (which should be forthcoming in the 10-k) and/or issue some Rule-144 common stock (subject to the maxinum authorized shares) with a guarantee mininum price of say $10/share.

Let's put it this way, if I had the equivalent of 14 million shares, they would have to shoot me first and take the shares out of my hands, and even then it would be a tough time prying them loose.

Kurt



To: Ga Bard who wrote (2953)6/9/1998 2:41:00 PM
From: jeffrey rainey  Read Replies (2) | Respond to of 4142
 
Gary remember these days: believe 10/98 is when the MIDLP converts to common. The warrants expire in 2001.
Check the SEC filings if you wish to verify.The buy for long term holders is MIDLP
which will convert to 35 shares of common on 10/1/98. At $4.75 for the preferred it
works out to about 13 1/2 cents per share.

what a ride this stock has been and continues to be.

Regards
Jeff Rainey