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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (12510)	6/16/2001 4:23:45 AM
From: Dale Baker	Read Replies (1) \| Respond to of 78625

Just wanted to update LPAC - on Friday they announced an 825,000 share buyback from their largest outside shareholder, the same company that tried to buy LPAC for $4 last fall (the offer was rejected). LPAC used $2 million of its $7 million cash hoard to buy the shares at 20% under market price. The outside holder could not have sold so many shares without knocking the price back under $2 given the low liquidity. I consider this buyback an excellent step to increase LPAC shareholder value; it will improve EPS numbers in coming quarters and still leaves LPAC with plenty of cash if they should need it. And the potential "overhang" from someone selling those shares in the open market is now gone. I am waiting for updates on the LPAC annual meeting held late Friday. The next catalyst for the stock should be an expected contract for the Screen Actors Guild by June 30. LPAC is making all the right moves, IMHO. The move up to fair value at $5-6 is on track.