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To: Pr-Ac Man who wrote (5216)	12/8/1997 1:28:00 PM
From: jimmy	Read Replies (1) \| Respond to of 10368

>>>But this news story about the AG classifying VG as a lottery (and thus illegal) >>>So what's holding BNGO up? Oh I don't know? could it beeeeee... that a little, insignificant, body, called the South Carolina Supreme Court, has ruled that video poker is not a game of pure chance, and therefore, cannot be classified as a lottery. Perhaps, most people are not afraid of the big bad AG!

To: Pr-Ac Man who wrote (5216)	12/8/1997 1:31:00 PM
From: Jonathan Brown	Respond to of 10368

Price Action Man, I'm only speculating, but in my opinion BNGO has already tanked, and that's why the AG's petulance has had little effect. Only panic will induce selling at this level, and only dedicated shortselling will induce panic. But with BNGO at $6 and a determined floor above $5, the risk/reward on shorting isn't so fabulous. Those holding now are the hard core. They've been spooked good and proper over the past month, and they're still here. Running them off won't be easy. Plus, as a contrarian indicator, the bad-mouthing of management (some of it deserved, from what little I can tell of such things, and some pure second-guessing and piling on) might bode well if further good news, like that of the Texas court's decision, arrives. If BNGO won't go down, it may just have to go up. J

To: Pr-Ac Man who wrote (5216)	12/8/1997 1:37:00 PM
From: ted w. kentzel	Respond to of 10368

Don't get me wrong. I, too, am long BNGO and believe its growth, low debt and industry niche will win out in the long run. I didn't like the fact that management withheld the 3rd Q #'s until the 20 days ran in order to call the warrants. They took a gamble to gain the $16.5M, which will help the co tremedously. However, the current volatility is the result. I believe they are supporting the stock (and warrants) at the current price so the stock appears steady and the warrantholders have enough confidence to exercise. At this point I would guess that less than half have been converted. The next two weeks is crucial to the warrant call. You're right, after the news on Friday, the stock should have dropped this morning and possibly rebounded later. I'm sure new buyers want to see what happens on Dec 15 before buying. I don't think the news regarding the AG is a big issue as the people have already voted on it. The last three days of the warrant call should be interesting. By this time the majority of the holders will have exercised and possibly the stock will be allowed to float where it will. Ted