BANY: Core business growth, exciting affiliations! Message Board

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Microcap & Penny Stocks : BANY: Core business growth, exciting affiliations!

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To: steve who wrote (5655)	9/7/1999 5:45:00 PM
From: J L Segal	Read Replies (1) of 5847

steve, all, thought I'd post a recent e-mail response from Sitra @ BANY: Thank you for your e-mail and I'd like to say we share your sentiments. First off though, no, Banyan is not going out of business. Banyan is fiscally stronger than it has ever been -- it has sizeable assets, cash in the bank and a broad new product line it will introduce with a splash at this year's Comdex show in Las Vegas. As for the share price, we suspect it has dropped so low as a result of the SEC putting an 'E' on the end of its trading symbol (the decline started about this time). Since it has been temporarily moved to the pink sheets until the SEC can finish their review process (even though Banyan is an "effective" and fully reporting company) that has spurred concerns. I cannot go into detail, but management is implementing a series of measures to achieve more fair market values for the stock. As far as sales go, they have never been material. Banyan increased its asset base by several million dollars in the past year which is not reflected on the income statement. It is this asset base which will provide the capital to engage in a broader marketing program and generate material sales for the first time in the company's history. Plus, the broader product range will appeal to a larger customer base. I hope this helps answer your questions. If you have any additional questions, please feel free to contact me. Sincerely, J. Scott Sitra Banyan Corporation Investor Relations sitra.com jscott@sitra.com (719) 227-1903 Ext. 102 (719) 227-1907 P. O. Box 50404 Austin, Texas 78763

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