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Microcap & Penny Stocks : BYWD - Baywood International
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To: Joe Copia who wrote ()7/23/1998 1:29:00 PM
From: greg Benfield  Read Replies (1) of 74
 
Just got off the phone with the CEO and discovered some few facts.

1. He was not pleased with the RTP newletter recommendation since it shed an improper view of the company. He said that they did not take into account the negatives as stated in the 10K and 10Q.

2. He said that Francis Choi's shares are no longer restricted although he remains a friend of the company, there is nothing preventing him from unloading shares. Let it be known that it would be impossible to unload that many shares...but there is nothing stopping him from unloading enough into the market.

3. He said that he expects to show a loss this year due to loss of sales and other possible situations (merger??). And that the $.04 per share estimation was a poor estimate.

4. He takes great pride in being a fully reporting company and did not sugar coat their present condition. He is not out to actively promote the stock when the stock is floundering and sounded genuine when expressing displeasure over the newsletter incident. HE did not promise anything great for the near future but said that shareholders would be happy in the end...of course all CEO's think that.

5. Planning on diversifying the company line and clientele. Says it will take several quarters to obtain sales of last quarter.

6. To find products locally you have to call the 888 number and they would tell you who sells it locally and then you go to the store and ask them to purchase that and then the company would talk to the store about carrying their products fulltime.

7. The have collected most of the A/R.

In conclusion, it is my opinion based on these facts that until further news is released or earnings reported it would be wise to wait...and see how bad things get before they get better. This might be a good LONG term hold but several things have to come about prior to even being that. IMHO the DD by the newsletter was inadequate at best and failed to take certain extrenuating circumstances into effect. The CEO stated that he told the newsletter to only use what was reported and he was very disappointed with their slant on the issue. OTOH the CEO did sound very well versed in his industry and he sounded very sure of his company, but he was realistic about the short term.
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