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

To: SE who wrote (5639)	12/16/1997 11:31:00 PM
From: Pr-Ac Man	Read Replies (1) \| Respond to of 10368

Damn, Scott. I'd say you wrote the bible on BNGO. Good reminders for those of us who bought as a long-term investment, and for those who are thinking of buying as a long-term investment. PA

To: SE who wrote (5639)	12/17/1997 2:58:00 AM
From: Richard Babusek	Read Replies (1) \| Respond to of 10368

Scott, Your list looks a lot like mine, I'll take a company with vision and dough over vision any time. With cash in the bank your negotiating from a position of strength. Interesting BNGO(W) market cap stuff. Using the float of 2M shares of stock, and 3.3M shares of warrants to calculate market cap day before warrant call announcement, and yesterday from Nasdaq chart service. ---- stock ---- --- warrant --- -- total -- date price cap price cap cap x1M x1M x1M 11/12/97 8.563 17.126 3.688 12.170 29.296 12/15/97 5.375 10.750 0.375 1.238 11.988 --------------- --------------- ----------- difference ( 6.380) (10.932) (17.308) Interesting that the company wants to raise ~$17M, and the market cap drops ~$17M in response. Counting next monday there will be 26 trading days between the announcement and expiration. Considering only the share market cap prior to call was ~17M so the warrant call was intended to virtually double market cap in 26 days!! Comparison of BNGO & MVSI, (trying to identify differences) BNGO MVSI on announcement date ------- ------- Market cap 17.13M 58.80M outstanding shares 4.65M 10.90M float shares 1.90M 8.40M float % of shares 41 77 ~cap increase % 100 34 MVSI was actually less due to the company share & warrant repurchases. I couldn't do the equivelant market cap based on float for MVSI because the warrant symbol is no longer good. Does anyone know if NASDAQ archives the data for warrants after the symbol is no longer used, and how to retrieve that data? If one wished to do research on expired warrants (such as MVSI) how do you do it? Both were agressive in duration, but BNGO attempted to double vs MVSI attempting to gain ~ 34%. The fact there are ~4X as many shares in the float for MVSI probably lessened their volatility also. Ramblings to ilicit comments, I want to learn something from the lesson of the last 20 days, my tuition was steep!! Ricardo

To: SE who wrote (5639)	12/17/1997 9:12:00 AM
From: T.K. Allen	Read Replies (2) \| Respond to of 10368

Scott: Nice synopsis of the present situation. I do have a couple of comments. 1. Will you detail how you arrived at $6,000/VGM minimum? 2. SC political situation: Properly handled, I think the upcoming legislative session could be a windfall for BNGO. Yes, they (and the other VGM operators) will have to accept some taxes and regulations BUT...in return they should be able to put a stop to all the lawsuit nonsense being generated by the Governor and AG. This will create a much more stable environment for business and investors. They may also find many opportunities to acquire smaller operators who don't want to deal with the regulatory headaches and won't be able to cheat on their taxes any more. 3. Based on my reading of SEC filings, it looks like it will be at least a year before the restricted stock is free to sell. However, I would like to get a copy of the actual agreements and some clarification from BNGO on the true nature of these restrictions. Keepin' the faith here and looking forward to 12/23. TKA