Acorn Venture Capital (AVCC) Message Board

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Microcap & Penny Stocks : Acorn Venture Capital (AVCC)

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To: Collin Underwood who wrote (15)	7/8/1997 1:13:00 AM
From: BulbaMan	of 23

An SEC Asset Value Fund filing today called for the liquidation of Acorn and the distribution of proceeds to shareholders. The AVF also filed that they bought another 56,675 shares of Acorn from 5/19/97- 7/7/97 at prices from $1.56 - $1.94 (putting the AVF's total Acorn holdings at 1,225,000 shares or 22.12%). Here's the AVF statement filed with the SEC: Asset Value Fund L.P. recommended that Acorn Venture Capital Corp.'s management agree to liquidate the company and distribute the proceeds to shareholders. In a 7/7/97 letter to Acorn's president, Stephen Ollendorf, Asset Value said that Recticon Enterprises Inc., a unit of the company, is the only good investment Acorn management has ever made. "We believe that the stock market will never reflect Recticon's actual value under current management," the group stated in the letter. Asset Value also said it believes that Acorn is run solely for the benefit of insiders rather than its shareholders. Asset Value's recent purchases of Acorn shares were effected in the over-the-counter market.

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