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

To: Rande Is who wrote (2446)	7/2/1999 12:55:00 PM
From: Baton	Read Replies (3) \| Respond to of 4766

I just called PLCO and spoke w/ the CFO Jim Frakes. The information I got from him was consistent with my conversation two weeks ago with CEO Rich Brady at the Venetian store in LV. As you all know, there are things he can say and things he can not comment on. As far as the financials go, they did file a Form 12B25 (notice of late filing) earlier this week. This allows them a two week grace period which puts the date for financials at July 14th (or sooner). He was able to quote the last part of the 12B which states "a return to profitablity". He said that this was something that was a very big accomplishment considering where they have been and the amount of money that has gone into growth of the company. The website concept has changed drastically since they first announced it. They were originally planning a "home grown" website similar to their "Whypayretail.com" site, but have decided to go much more sophisticated like the E-Toys site. He mentioned interactive possibilities like tracking birthdays and several other attractive concepts. I asked about the developer and he replied that it was a well-known company that has built several other large sites for other well known companies. Fall opening, well in time for the toy season. Many of the new stores will also be open in the fall. Pier 39 by August, 2 in Houston, 2 in S.C., Woodfield Mall in Chicago, a new mall in Mission Viejo, Calif., and the Aladdin Hotel in LV. The Aladdin will not open until next year, but will be the first stop on a tram direct from the airport (much needed in LV). He did say that the Venetian sales were outperforming their other stores and their projections so far. I asked about reapplying for a NAS listing. He said all they can do was build the business and at some point re-apply, perhaps even for a NYSE listing. He commented that they were "purged" like many other lower priced NAS stocks, even though they presented and fulfilled their business plan. I sensed that he felt that they were unfairly caught up in a cleansing of the NAS that set them back until now. He said he and the entire company have worked extremely hard to develop and execute a successful business plan. I asked if the company was buying back any Series E stock and he said they were not allowed to do that. I asked about the 200K day last week and he said he was not aware of it. I asked him about the 12/99 Series E transfer details and he said they would do a fall PR about the details. He also said he hated to do "fluff' PR's, and felt they ultimately damaged the company and the shareholders. I reminded him that the company has not put out any news about the website delay and he agreed that info was due about that. He confirmed that the warrants convert to Series E when and if the Series E reach $5. I continue to be impressed. My thoughts are that the risks of this investment are getting much smaller and the upside is huge. I thought that Mr. Frakes (and Mr. Brady) were sincere, honest and extremely committed to the success of the company. I also have a gut feeling that we are going to get a good PR very soon. IMHO, I see no reason for this company to not have the market cap of some of the other more well-known toy companies in the very near future. Baton