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Non-Tech : Littlefield Corporation (LTFD)
LTFD 0.1700.0%Sep 29 11:29 AM EST
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To: george eberting who wrote (7105)2/5/1998 7:29:00 PM
From: Richard Babusek  Read Replies (1) of 10368
 
All this speculation about the warrant proceeds is just that, so I'll repeat mine.

If management had (in Nov/Dec.) or has new found information or ideas from their new partners (as a result of VGM poolings) that there may be an intense political battle in SC for example, that may have trumped their original idea of not calling the warrants. After all if the publicity was going to have an adverse effect on the stock, no matter how temporary, we may have wound up in our current position or worse with no warrant money to boot.

Clearly no one KNEW that was going to happen, but although I was one of the largest detractors of some of the warrant call provisions, I'm tending to give BNGO management credit in retrospect for making the correct move (calling the warrants).

Having been in similar business negotiations, I know having the dough in hand gives you a strong position. Many things can fall through, and now the company is in the position to go after bigger deals, that take a longer time. I for one am in no rush for expedience over quality.

If VGM deals are available at great risk reward ratios, I say go for it. During times of uncertainty great deals can be shaken out.

Ricardo
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