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Microcap & Penny Stocks : MIDL .... A Real Sleeper -- Ignore unavailable to you. Want to Upgrade?

To: Ga Bard who wrote (1218)	6/22/1998 11:49:00 AM
From: Binder	Respond to of 7039

WHY is this still a topic of discussion?? How many times do we have to go thru this? In summation, I have developed the following Q & A: 1. What is the status of the reverse merger between Midland & Arcon? It is rescinded. Over. Finito. History. It didn't happen, not gonna happen. Dead. Terminated. File 13. 2. Is Midland still going to be able to sell DF-144? No, not at this time. Since the Midland/Arcon reverse merger never happened, Midland does not presently have the right to produce DF-144. 3. Who holds the patents to DF-144? It is unknown whether the patents are held by Arcon, by John Spriggs, or by the guy in Kentucky, or by some other party. What IS known is that the patents are NOT held by Midland. 4. Why did John Spriggs resign? There has been no official statement as to exactly why he left, but there has been some discussion that he chose to leave to concentrate his efforts to clear the patent(s) to DF-144. However, unless you share a pillow with the guy at night, there is no way to say with certainty. 5. Why did Midland rescind the reverse merger with Arcon? This is something that will have to come out in the legal process, but it has been stated that the former CEO of Arcon, Dan Fisher, ALLEGEDLY issued himself invalid shares of stock, and then sold them on the open market. It is ALLEGED that Fisher then took the money and fled the country. Meanwhile, Spriggs assumed the role of CEO, but only for a very short while. There would have to have been some legal ground for termination, some breach of agreement, misrepresentation, etc. 6. What steps is Midland taking to remedy any damage Fisher allegedly caused? To start with, the new CEO is also corporate counsel, specializing in SEC matters. It has been stated that they requested an immediate stop transfer of any shares which may have been illegally issued. Aside from that, the company has not made a statement regarding possible litigation. 7. Should I be concered because the company hasn't said anything? Whether you should be concerned or not is a question that only the investor can answer for himself after analysis of FACTS, not speculation or hypothetical situations posed on this thread. 8. Is it normal for a company to be involved in legal action(s) without disclosing all the details to the shareholders in the form of a press release or some other device? If you have ever been involved in any type of legal action and have had to hire an attorney, one of the first thing that attorney will tell you is that you should not say anything about your case to anyone, no matter how much you feel they have a right to know. In the opinion of this writer only, I would be more concered if they WERE making statements. 9. What does all of this have to do with Midland at the present time? From an operational standpoint, nothing. See answer to question #1 10. Why is continued discussion of Arcon detrimental? There are many reasons. First of all, in the height of emotion, many who post often forget to use really important words like "alleged". It is very important to remember that Dan Fisher has not been convicted of any crime, and to come on this thread and say that he is guilty opens not only the individual up to possible legal action BY Fisher AGAINST the individual or It's called CYA, and we ALL need to be doing it. If you can't provide concrete proof that an allegation is true, it is best not to make the allegation. Secondly, to go after the patent issue is a moot point, it is GONE. The dog ran away from home. Hopefully, this will answer people's questions, and hopefully, we can get on with the business of the company. :-) Binder 4.