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Microcap & Penny Stocks : Rande Is. . .FISHING. . [under $1.50] -- Ignore unavailable to you. Want to Upgrade?

To: flyboy who wrote (2376)	6/18/1999 9:54:00 PM
From: Baton	Read Replies (2) \| Respond to of 4766

Rande: This post confirms much of what you already know, but I think you will be happy with the direction our little toy store is going. PLCO Fans, Info from The Venetian Grand Canal Shoppes: Yesterday I found out that Richard Brady PLCO CEO would be flying in to assist w/ the International Toys grand opening. The mall is on again off again as the fire dept is being difficult. Our store is completely ready to go. They are now expecting a Saturday opening. I went back today and finagled my way in to the mall. I happened to arrive just as Mr. Brady was meeting with mall staff. I identified myself as an investor and asked if I could wander around inside the store until he had time to talk to me. I spent 30 minutes checking out their stock. Let me reiterate that the International Toys is a very large store in the prime mall location. The store was well stoked with the latest and greatest product including: Barbie's, Tarzan, all kinds of Disney, Learning Company, Hello Kitty, Playskool, WCW action figures, Tonka, Star Trek, Barney, Teletubbies, Super Soakers, all types of board games including the Monopoly Las Vegas Edition, Matchbox, Legos, Pokeman, Star Wars everything, stuffed animals, European collectibles, hand held electric games and LOTS more (including WAVX swimsuits). Mr. Brady spent about 20 minutes talking alone with me. That by itself was impressive, as I'm sure he had plenty on his mind. He was extremely professional and very likable. In keeping with the PLCO track record, he never overstated or hyped the company. However, I did learn several things that have me very excited about our future. I was aware that the next new store was Pier 39 in SF. However there are several other stores being built as I write. There are 2 stores in Houston, 2 stores in North Carolina, a store in a mall in Mission Veijo, Calif., and a large store in the Woodfield Mall in Chicago. There will also be another Las Vegas store in the new Aladdin Hotel complex. Mr. Brady said most of these stores should be open in the next 4 months. I asked him about the SPNT relationship and he just said they were a major investor. Judging by the WAVX swimsuit display, it seems as though the PR about the sale of 25% to SPNT is all true. We discussed the PLCOP. He again reconfirmed the 6 to 1 conversions in December, but was unclear as to how it would happen. I asked about a conversion fee and he was not aware of one. He did acknowledge dilution of the common shares when the preferred are converted. I asked why the PLCOP was so cheap and he said there were no MMs and very little knowledge by investors. He does not plan to publicize the 6-1 conversion as he thinks that it will make the stock too volatile. The one comment that caught my attention was that he said that he wished that he had not had to make the PLCOP a 6 to 1 deal as it was too rich, but at the time, they really needed cash for building the company. I told him the prices I had paid and the number of shares I owned. He smiled and implied that I should do very well. There will be a NR on the opening of the Venetian Mall store. He said the release was written and ready to go. The earnings for first quarter are also done and waiting for signatures, etc. They will be released on June 28th. He would not say any numbers, but implied that they have turned the corner on profitability. Archie, just for you, I asked him about the etoy IPO. He said he was not surprised at the value. He was well aware of their current stock price, but reminded me that PLCO is actually making money with real stores in prime locations and has an exciting Internet strategy. He said a NR on their Internet strategy was in the works. He was frustrated that the Las Vegas store was opening so late. When they originally signed with the Venetian, they were looking for an April opening. He said that they are being reimbursed over $100,000 for lost sales, but that they had lots of inventory sitting on the shelves for 2 months and there would be some loss due to that. The Whypayretail? site is doing better than expected. The real e-commerce site will not be open until fall as they are making it bigger and better. They have chosen a developer and it is under way. All in all, it was a fantastic conversation with a very astute businessman with a keenly thought out plan for expansion. The Las Vegas store is, in my opinion, likely to be a huge success. If I have enough time, (and the mall actually opens) I'll go back one more time to see the store with customers. I feel very happy with my Playco Toy Company investments. It is 105 degrees and the pool, mai tai, and dinner is calling. Will also post on SI PLCO thread. Baton