Dwight,
In Re: "I'm going to assume that this isn't the good news that we were told to expect a while back."
I look at it more as a reporting of facts as they existed from 30 Sept. until now. I'm glad they addressed the short sales issue (BTW, I think this fact, although you would say it is CYA, shows that this management team IS different that Downi, who probably would have swept it under the rug?).
I echoed everything from the S-3/A that relates to both the good and bad of the current situation. I didn't see any new negative info in the filing that hasn't been discussed here, other than the "continued losses" statement which we sort of knew was coming. I would think that NTN was referring to LS and IWN sucking all of the profits out of NTN Network, which we also know was going on. Overall, I would say that Jerry and Co. are being very up-front with the shareholders.
IMHO, even with the standard disclaimers about FLS, the most important sentence in the filing is the one relating to "enough captial for the forseeable future". (On a side note, my scientific proofreader always marks red all over every time I put the period after the double quote; I disagree, it depends on the construction and placement, as here.) Given that Gerry's last name isn't Clinton, I would say that "forseeable future" doesn't mean the next pay period, but FY 1998.
As you seem to indicate you believe, I agree that we are going to see lower prices this month or late next, before the first conversion, perhaps 1/2. I consider it a possible buying opportunity, given that I place 31 Dec. book value around .30 (roughly 5M + 7M financing / 36M shares). We'll see what the next week or so brings.
Cheers,
Rich |
