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

To: WallStBum who wrote (5979)	12/24/1997 5:50:00 PM
From: jgideon	Read Replies (1) \| Respond to of 10368

About the number of bingo centers ... This is taken from today's S-3/A filing: "As of December 22 , 1997, the Company operated eighteen bingo centers in Texas, Alabama and South Carolina. The Company recently closed two bingo centers in Texas due to poor profitability, but has five additional centers under construction in South Carolina which are expected to open in the fourth quarter of 1997. This will give the Company 23 bingo centers at yearend. The Company's original goal for 1997 was 25-30 bingo centers, but the Company will not meet this goal due to an increased focus on its video gaming business." ===> Hence, we expect 23 bingo halls by year-end. Does that mean we get an announcement of 5 new openings next week? Or, is it likely that those 5 have missed their deadline and will not open until first quarter 1998? Either way, we get some good bingo hall news coming out in the near future. For those worried about SC VGM over-reliance, this raises a flag that, yes, the company has become distracted by the VGM business and is not following through on the bingo hall plans. Personally, I'm not sure if that is worrisome. If they are confident that VGMs will survive the upcoming legislative onslaught, then they can consolidate in this industry when there is fear in the air and asking prices may be cheaper. On the other hand, the risk of VGMs being hurt by new laws becomes more severe for this company. We've got 70% of our revenue on the line, and it looks like it could be more in the short term future. As a microcap, BNGO is inherently risky. The above statement increases the risk when the SC political climate is considered. Although most on this thread know this already, I'm just trying to avoid the "this is a sure thing" attitude that played into the MM's hands and helped foster the W call slide. jg