Audun, just heard a bit of disquieting (I think) news from Bob Pragg. As of now, Liviakis will not be doing active IR work for BSFE. For the record, Bob was upbeat about the company, its near term and long term prospects.
Now this is me, not Liviakis.
Apparently, the CEO told John L. that the Board was quite committed to focusing near term on fundamantals. This, we already knew. Apparently this now means that ALL expenditures not directly related to producing revenues will be curtailed. We know that the folks at BSFE are not, to say the least, vivacious and comforting on the phone, I wonder if this inability or unwillingness to hold hands will cost stockholders in the short term.
I think there is more good news coming soon. Unfortunately, without professional promotion, it is likely to be as little noticed as the recent Vermont deal. We can hope for a favorable ruling from the Fairhaven judge, we can hope for one or more project financing announcements, and we can hope for a new project or two. The 3Q results, as you reported, may look relatively good, and certainly the 4q results should.
What do you make of all this? Jay, can you comment? Does it mean that we're destined to stay down here in the doldrums for 6 mo. Expecilally as BSFE will look mighty good to anyone needing tax right-offs in 1996. Or can the stock begin to climb back purely on fundamantals?
Allan |
