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: Ga Bard who wrote (3069)	6/10/1998 4:46:00 PM
From: Crossy	Respond to of 4142

Gary, regarding current common equivalent outstanding the scenario changed a bit with recent actions: First of all Your count of fully diluted common would have to be reduced by the 14 million that are cancelled. Total common equivalent now: aprprox. 30 million shares. But now look at THIS: Originally JOHN & Dan would own together 28 million shares after this October, out of 43 million, that's 65%, not accounting for MIDLW (warrant) common equivalents of affiliates (Mc. Andrews and others), probably 10% or so. With the cancelled shares, JOHN alone now has 14 million common equivalent out of 30 million shares, leaving him 46%. This means he alone doesn't CONTROL the company anymore - he could - perhaps (don't know if he legally can do it with the recent development) convert some Preferred B to PreSplit Preferred A and try to get the remaining 5% to 50% with the 3:2 split of MIDLP that should still be pending. Anyway, this means that OUR weight here (SI thread) increased bigtime. It makes a difference if a company is major owned 65% or 46% - especially with regard to takover scenarios.. best regards CROSSY