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Non-Tech : Littlefield Corporation (LTFD) -- Ignore unavailable to you. Want to Upgrade?

To: B-MAN who wrote (5424)	12/11/1997 12:29:00 PM
From: T.K. Allen	Respond to of 10368

B: Regarding your comment: If the warrants are not converted & sufficient funds are NOT raised by BNGO, you can BET THE FARM that this will negatively impact both the BNGO's growth/expansion plans & EARNINGS! The underlying question in your statement is "How many warrants will not be converted?" Even BNGO management can't know this although they may have some preliminary figures showing how many have already been converted. In contemplating a potential extension of the call period, BNGO management is going to have to weigh the scenario you describe (that is, low conversion %, reduced growth/expansion, and lower earnings) against the likelihood and cost of possible lawsuits from those that already sold their warrants at a steep loss because of firm statements from BNGO that no extension would be provided. Correct me if I'm wrong here but, if memory serves, wasn't one of the reasons for the relatively short (39 day) call period so that proceeds from the warrant call could be included in their 10K? If they extend the call, they will lose whatever benefit is derived from having those funds in their next SEC report. TKA