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To: T.K. Allen who wrote (6616)	1/22/1998 12:08:00 PM
From: Harold Finstad	Read Replies (1) \| Respond to of 10368

TKA- Hopefully he has his bullet proof vest on, but you ought not shoot the messenger. Since the first announcement did come out, I suspect he really belived it to be so.

To: T.K. Allen who wrote (6616)	1/22/1998 12:16:00 PM
From: JakeSki	Read Replies (3) \| Respond to of 10368

I am going to make an attempt to put some numbers on the three bingo halls BNGO is buying from BING. Here are the disclaimers, provisos, and quid pro qou: 1. I am a rank novice at FA stuff. Am I an not an accountant, nor do I play one on TV. 2. The information from the BING EDGAR filings is the best source of information I could find - and there are some big assumptions and gap filling that I had to do. I am using the Q3 97 filing. 3. See #1 First, with the assumptions: As far as I could tell, the 3 halls were all the halls that BING owned. There was mention that they did have management agreements for other halls, but it didn't look like there were making anything off those. REVENUE: Rental Income: $125,844 Concessions: $20,285 Gross Revenue: $146,129 COST OF REVENUE: Hall Rental: $61,565 Gross Margin: $85646 Now, if you look at the 96 vs 97 Q3 numbers, they are essentially flat for bingo operations. So I think that it is safe to assume that the annual numbers would be roughly 4x the quarterly numbers: Annual Gross Margin: $338,256 So the accretive margin to BNGO (using the 10M share figure) would be roughly $.03/sh. This as far as i can get. How do I figure in the operation costs SG&A, etc.)? Again, I am hoping this is a decent seed for discussion. In no way do I think these numbers are correct - but hopefully they are in the ballpark. -- George

To: T.K. Allen who wrote (6616)	1/22/1998 1:21:00 PM
From: Musya	Read Replies (1) \| Respond to of 10368

The more I think about "knock your socks off" statement, the more I am getting the impression that Mike Fearnow knew that Wilson is resigning, AND his shares are about to be bought by an institution. Thus, I think that Mike (or someone in his office) thought that the news of AN INSTITUTION buying will "KNock the socks off." Apparently this guy (Mike or one of his guys) did not think that the market will look more at the fact that (former) CEO is selling, but instead will concentrate the attention on institution buying. When the deal fall apart, all what was left for the market to see was the powers struggle and the fact that CEO wants to sell. As far as the issue of "one hall per week", I am under impression that this idea was derived from the announcement of three halls in Miss., and it so happened that, at the day of the press release, three weeks of the year have passed. Thus, people on this thread, and probably one of the Fearnow's guys said something about "one hall per week." After some time it became something like an almost undisputed fact... Which it should not be. Musya