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Microcap & Penny Stocks : OTC Shell Search and DD...
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To: Ga Bard who started this subject9/3/2000 8:51:57 PM
From: rjm2  Read Replies (2) of 858
 
LACI is very much like a shell imo. Only better. It has a nasdaq listing so its much more visable. The chairman and 40% owner passed away last year and 2 different tech. related entities are working with his estate and MH Myerson to buy this stake for his estate.
LACI has a book value of about $2.25 but that is overstated IMO.
I get the distict impression that the buyers are not much interested in the current operations. Mostly want to get them to a cash flow neutral.
The stock has traded up a bit recently reflecting leaks (or inside info, I seriously question how MH Myserson can act as both a market maker and an investment banker) and I get the impression a deal could be made in the next few months.
I believe it could be a much bigger company with some grand plans and this is cheaper than an IPO.
Only 3.2 million shares out with a really low float but a lot of lower priced options for both the former chairmans estate and MH Myerson. While its almost criminal that they gave themselves so many cheap options (like at $1.00) I feel sure they want to make this thing much higher priced and make themselves some money.

While I DONT care much for tech stocks, I have gotten in a few through the backdoor (like I suspect I will here) and watched them increase 3-6 times in value.
(REX & CGUL)

I have a rather large position here because I was wrong...regarding their ability to grow & make money.And I also was wrong on the value of the underlying assets.
But I feel pretty good about them making something happen here. I probably wouldnt be buying if I didnt own it, simpy because its not my style, but I expect to sell much of my shares at higher prices after this deal goes through.

I believe the downside is somewhat limited in that they would want to retain the nasdaq listing and thus wouldnt let it fall below $1 for any length of time.
If that wasnt of value to them, they would simply merge with a OTCBB shell.

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