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Non-Tech : Littlefield Corporation (LTFD)
LTFD 0.1700.0%Jan 29 9:30 AM EST
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To: T.K. Allen who wrote (5867)12/22/1997 5:22:00 PM
From: jimmy  Read Replies (2) of 10368
 
>>>Anybody else have a different theory

(1) BNGO gaps up a 1/4 point on the open tomorrow

(2) the Market Makers continue to push BNGO's price higher on low to moderate volume.

(3) many of you that are waiting on the sidelines will jump in - believing that BNGO is about to take off.

(4) Once BNGO reaches 6 1/2, or so, the selling will commence. I contend that much of BNGO float is now in the hands of short term speculators who bought in at 5 1/2 or less, and are looking to make a quick profitable exit.

(5) BNGO will be driven back down to $5 or lower, and will remain there until the SC video poker situation is favorably resolved in the courts or legislature, or until BNGO makes significant inroads into areas outside of the SC VGM market.

I know that some of you are saying: "BNGO at less than $5? no way! this company is just too undervalued to be selling at $5 or less."

Well, I agree with you.. but only if you are willing to bet on the outcome of the legal and political battle over video poker in South Carolina. My GOD! 70% of this company's profits come from SC video poker - and video poker is under siege in that state. Had I discovered BNGO today, I would not even bother to look past that legal and political quagmire. I would just say "no thanks".

In fact, one could argue that, in its continued pursuit of SC video gaming, BNGO management is not acting in the best interests of its shareholders. One could argue that the responsible approach would be to refrain from making any further investments in SC video gaming until the legal issues are resolved.
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