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Microcap & Penny Stocks : Las Vegas ENtertainment
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To: paul goldstein who wrote (12)10/27/1996 9:06:00 PM
From: Wayne Allen   of 72
 
Didn't mean to imply anything. Simply put, It seems that LVEN president
is good friends with ITB president. Back when the property was sold to ITB
LVEN had been falling like a rock, but was still close to a dollar per share.
It was then made known that LVEN would receive some front money, correct,
but the kicker was the potential profit sharing which was enormous.
This did not really do anything with the stock. Financing was supposed
to be "in the bag." ITB even released that a capital company provided
short term financing to pay off the 1st mtg because they were impressed
with the goings on with ITB and their futurer plans. ITB was then selling
at $4.00 per share.Haven't checked ITB in a while, but I doubt that is at
the $4.00 pre purchase. LVEN's only revenue resource last year was the
parking lot rental. Carozzi is making half a million a year to park cars.
I can't imagine the price going up because LVEN almost lost the property to
foreclosure, except for the friend at ITB. The purchase stayed the foreclosure
by the owner, who by the way, financed the property to begin with. The
property will have to be torn down and rebuilt to suit the requirements
of future guests. Therefore I seriously doubt that there will be any financing
that will be to the benefit of LVEN, or it would have already happened.
Also ITB announced that the project (Orion) would begin in early 1997.
Carozzi will not answer phone calls, nor is the PR firm very ready with
information. The only reason IMHO that the stock is where it is is because
Carozzi can purchase shares at .38 cents with the salary he is making
by parking cars in the parking lot.
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