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

To: a128 who wrote (25713)	1/15/2007 10:24:46 AM
From: David	Respond to of 78520

SPOR: I can't figure out what to make of the Dutch Tender offer in this situation; I am equally as puzzled. Hopefully, no one will tender. That could be an indication that holders view the value of the company at substantially greater than what the company is offering. You may recall that there were very few shares tendered in the case of BAMM. I am not sure that I have seen evidence of an impressive turn-around. Sales are up but the company does not seem able to make any money on those new sales. Would be intersted in hearing your views on the company's performance. The company still loses money and Net Current Assets slipped $600,000 or so last quarter. The comfort in owning this company is the margin of safety provided by its liquid balance sheet. But that seems continually eroding away. Daniel Zeff continues holding over 10% of the company and that is somewhat reassuring, although I don't know anything about Zeff. He does seem to turn up as an owner in several of the comanies that I own -- ELSE, JOB; but I really don't know what to make of him.

To: a128 who wrote (25713)	1/15/2007 10:45:29 AM
From: David	Read Replies (1) \| Respond to of 78520

SPOR -- Going Dark: <<<They mention possibly going dark later on>>>> This is also a concern of mine, especially in view of the poor management that this company has suffered from. Daniel Zeff has expressed concerns as well about companies 'going dark'. Check out this SEC comment letter: sec.gov I share Zeff's concerns especially as applied to SPOR. So far I am waiting to see what is going to happen here. Hopefully I won't find myself sitting in the dark. <g>.