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To: Highlander who wrote (6516)	1/20/1998 7:30:00 AM
From: Gary K. Best	Respond to of 10368

This has really been a classic board to follow in the past several weeks. We have gone from a time where everyone was rushing to buy when they should have been selling and now we have a situation where many will be selling into a panic when they should be buying. Fascinating. Gary

To: Highlander who wrote (6516)	1/20/1998 8:14:00 AM
From: SE	Read Replies (3) \| Respond to of 10368

TO All: I have been giving this all a lot of thought over the last 12 hours. Here they are for what they are worth. This stock has a relatively small float. Because of that it is not too difficult to move the price one way or the other. The easier way to move a stock is down so that is what we see most of the time. After the Investor Associates stock was cleared the selling pressure had dried up and the stock was trading on fundamentals. That was good as the stock was representing its true value to the marketplace. Then upon the warrant call we attracted all sorts of arbs etc to this stock and they found out how easily it can be moved and they have been playing it ever since...yes, in my opinion, even after the warrant call. Management should have done things differently right after the call to help restore reality to this stock. They should have concentrated on the business and gotten us fourth quarter numbers as soon as possible. They should have announced the Mississippi deal as soon as they could have. They should have issued a release stating what their plan was with the warrant call money. In short they should have restored confidence in their business plan for all of us who have put more hard earned cash into this company. I believe this was their intention and then at the board meeting where they discussed what exactly to focus on with the new money a faction was discovered. This change in focus, one group for VGM's and one for Bingo led to the ouster of Greg Wilson. OK, they have not done the best they could in the department of instilling trust. However, I don't see anything herein that represents dishonesty or fraud of any kind. What I see is a power struggle that probably has its roots in the future direction of this company. This company started with Bingo and now has more revenue from SC VGM's. There is probably a fraction of the board that thinks now is the time to buy in SC and buy big. You should naturally buy when things are at a discount. With the SC political situation I believe there are many VGM owners willing to sell at a discount and some on the board must believe that that is the direction the company should go. Naturally, they must also therefore believe the SC political situation will recover and VGM's will prosper. I also believe that there are members on the board that want to continue in the Bingo direction and are fighting this change in focus. This has led to a power struggle and probably a few heated discussions as to the direction of the company. This led to the ouster of Greg Wilson last week. Now over the weekend everyone has had time to consider this more greatly and a fair amount of lobbying must have been going on. I believe what was then decided is that Greg Wilson has been a valuable commodity to the company and that the pro-VGM's and the pro-Bingo factions decided that they could work together and continue to grow the company on both fronts .... but more slowly on each. Naturally, if the focus is bingo halls, VGM's would be hurt and visa versa. Therefore it was then decided that Greg Wilson would stay on board and the focus would become both and the growth of the company would continue with Greg and Corky working together to consolidate the Bingo end of the deal and that Mims and Harrison would work to straighten out the political situation and find attractive deals in SC. Corky, of course, with his expertise will concentrate on the consolidation of both industries. In essence, if I am correct, this is the proper thing to do. I have been concerned about the focus on VGM's. I have been concerned that the focus has been away from what got us where we are today...bingo halls. No mention of the five that were being constructed since the conference call. Why not? They should be close to being completed if not already completed and running. So what is going to happen to this stock. Short term, I believe volatility will be the name of the game as the people who found this stock upon the warrant call go nuts with it. If you are a trader, enjoy the next few weeks as this one will be up and down very quickly. Long term....I believe absent SC outlawing VGM's (and I still don't believe this will happen) this company will do exceedingly well. Unfortunately, the short term volatility will wipe out some of us that stepped up to the plate and gave the company another $5 to invest for us. I am unamused by the management right now that they are taking our hard earned cash so lightly by their recent actions. What we have is a company going through a critical growth phase and people who are all trying their hardest to grow the company as each of them see fit. There are power struggles going on and I believe that this latest press release will be the last "negative" that we will see for some time. They are aware of the loss of credibility and they will do what is necessary to show a unified front and make this company into what it can be. They each have too much money tied up in its stock to continue to make foolish decisions. If you have the stomach for it, hang in there. My time frame after the warrant call was six months. I would give them six months to get it straight. I did not expect this. However, I do not see any fundamental change in the company. I see a natural progression as a small company turns into a big company. Corky has experience working in a big company, Wilson does not. This will lead to power struggles. I was pleased with the press release on Friday. Upon reflection I am not displeased with last night's release. Wilson has some skills that got us where we are today. The latest power struggle should inform him that this is not his ship and that he should listen to all advisors and then work in the best way to make it happen. I believe he has just learned the power of delegation and obtaining expertise in areas where he is lacking. No I don't think he will be a figure head, but I do think he has learned the art of true management now and that the others on the board had to practically oust him to get their point across. As strange as it sounds, I believe this will lead to some good decisions for the future. It had better, or I too will be outta here. Best Wishes to all. and most importantly.... GO PACK GO! -Scott