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Microcap & Penny Stocks : Scoreboard (BSBL)
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To: oki kwon who wrote (8)5/10/1997 6:14:00 AM
From: Gary105   of 14
 
A very risky company given recent earnings. I'll give 2 scenarios:

Negative scenario - possible delisting by Nasdaq (or forced into BB status) or forced into chapter 11 as a result of terrible balance sheet (negative equity), unable to stem losses. Relationship with Frontier flounders. Is selling for a few cents/share by end of year.

Positive scenario - Something big clicks with Frontier, so that it returns to profitability. Long term debt holders convert to equity so that shareholder equity goes from negative to positive. I know John White, the CEO, is working on this.

I was very impressed with John White during my telecon with him. I was also impressed with the magnitude of challenges he faces. I wish he were brought in earlier. I'd weight the scenarios as following: negative 1/3, positive : 1/2 something in between 1/6. My concern is that in order for the stock to appreciate a lot, even under the positive scenario, revenues must grow. Time will tell.
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