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Non-Tech : LL Knickerbocker(KNIC)/Pure Energy Corp
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To: Tom Terf who wrote (827)3/29/1998 7:49:00 PM
From: Ben Mackenzie  Read Replies (1) of 1028
 
I just found the following post on AOL:

Subject: RE: Licking my wounds
Date: Sat, Mar 28, 1998 20:19 EST
From: Knixahoy
Message-id: <1998032901194801.UAA03871@ladder01.news.aol.com>

I invested in this company around the time that Pure Energy entered into its arrangement with the Tennessee Valley Authority. KNIC was the only way to participate in that. Obviously I am losing money along with most others here.

I spoke to someone familiar with the situation at KNIC who wishes not to be named. Several interesting points:

1. They believe that the Department of Energy is going to certify the P Series "imminently" - in fact, they hoped that this announcement would come before the earnings report - one reason why they took their time releasing the earnings.

2. They expect that the Ontro product will be successful in time, but Ontro is a small piece of the picture. The IPO is planned for late April, but they will be surprised if the Ontro investment is worth more than 50 cents a share on the balance sheet for a good while.

3. The Georgetown acquisition has been more problematic to integrate than expected, and they have had particular difficulty with Magic Attic.

4. Interest in the new Richard Simmons products is high and looks like a hit in the making.

5. This person stated, and I quote: "Lou is a realist." Lou is aware that in its present form the company has little chance of attracting serious institutional investment. Lou doesn't want to lose any more of his money, and is willing to sell to the right buyer at the right price. He is actively soliciting offers for the company. One was turned down. They believe that the Pure Energy investment by itself will be worth at least $7.50 per share
in the next year or so. Pure Energy, in fact, has turned down two "substantial" buyout offers in the past three months.
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