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Gold/Mining/Energy : POE:VSE PAN OCEAN EXPLORATIONS INC. -- Ignore unavailable to you. Want to Upgrade?

To: Jim Bishop who wrote (157)	5/30/1999 2:33:00 PM
From: Richard Saunders	Read Replies (2) \| Respond to of 277

Jim - I suspect the number of shares, especially f.d., is bigger than what the link you posted shows. The company doesn't make it easy (imo) to add the numbers up. Quick glances to both the vse site and SEDAR seem to say that there were 420K options issued in April with $0.50 strike prices. Also, May 20 there were some (100K) shares issed to Quest for the $500K loan. I'm unsure if that thing has a comfortable conversion feature which may translate into higher f.d. number. Finally, there was a May 26 non-brokered (a finders fee will still be paid though......) private placement for 500K units at $0.20. Each unit consists of one share and one warrant to buy another. Bottomline number? Still a good question. disclaimer: Haven't called the company recently to obtain detail. Last call resulted in mailing of incomplete (ie. lack of detail) information. I don't have a position.