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

To: WallStBum who wrote (7087)	2/4/1998 4:13:00 PM
From: Harold Finstad	Read Replies (1) \| Respond to of 10368

WSB-Sorry if I gave the impression that Fearnow did it all. The point I was trying to make is that he and his organization are nothing more than the messenger. To quote a line out of your response; "Mr. Fearnow was paid to tell you to buy this stock". Who paid him? I assume management. What did they pay him to do? Spin the stock. The real question is whether he was the "James Carvill" of BNGO, or did he make up what was going on. From the looks of the posts on this board prior to the infamous "Wilson Resigns" press release. Such a happening, had it really gone through would probably have cause a positive impact on the stock according to the thread banter. I assume that Fearnow was, at that time of of hopeless feelings over the warrant call with the investors, trying to give all a "sense of hope and change". Had he made such an uplifting statement, (Assuming the quote was in fact true.) and no such first release having come out, I would perhaps find reason to chastise him. But it did come out. If my memory serves me correct. It came out after the market closed on Friday, with the reversal coming out before the opening of the next trading day. Since there was no trading during the interim of the switch, theoretically no one purchased the stock under false pretenses. I feel fairly confident that he, as all of us, has probably never seen such a pair of press releases before. So perhaps, based on knowlege that he thought was correct, he was throwing out a "life rope" to those who cared. In hindsight, would the outcome on the stock been any different had he not made the alleged quote? If you put his shoes on, what would you have done? Re: your quote; "leaked information on the warrants being called" I seem to be missing your point here. Frankly, the only reason I stayed out of the stock as it was "rocketing up" was that I had read the warrant call provisions in the Edgar filings. My concern was that management would in fact attempt to take advantage of the "quick" move up in the stock and call the warrants. I have been involved in the market for almost 40 years and I have suffered through many a warrant call. But never had I seen a call where the warrants counted to a more than double of the trading float. Honestly, I am amazed that more than a few percent of the warrants ever got excercised. Had the stock had a chance to spend six months or so in the double digit area, it would have probably been a much more succesful completion. The only reason I can attribute to the success of the call was that the market was somewhat "preped" for the call. Wall street hates surprises. I take my hat off to Fearnow for doing what was prudent by "leaking" information which should have been somewhat obvious to those who did their research. Re: Rodney. I am sure that he was very instrumental in keeping this thread alive and active. But where did he get his info from? (I don't know) And realistically, what percentage of the stock do you really think was owned by thread participants? I feel confident that Fearnow's group did much more than just talk to thread participants. It is a shame that Rodney seems to have "gone by the way" with this stock. But had Rodney been active at the time just prior to the release, what do you think his comments would be assuming he had the same info that Fearnow had. Also, since it appears that the Fearnow group was involved as PR prior to Rodney's first post, are you sure that he didn't get the majority of his info from Fearnow. What if Rodney were paid to "push" the stock. Would he then too be vilified? Checking the Edgar filings, it appears that the lions share of the Fearnow groups compensation is in warrants. Restricted and mostly in the $5 per share area. Don't you think that he had the long term health of this company as his primary desire? Re: your quote about the conference call "I remember Corky Logue, abrubtly ending Mike Fearnow's musings and turning it over to John Orton to mop up his rambilings" I too listened in on the replay of that conference call. If my memory serves me correct. Fearnow was trying to explain the procedures to exercise warrants. From my past discussions with Fearnow that I referenced in my earlier post, if he has a shortcoming it is that he "trys to sell the Steak rather than the Sizzle" In other words, he is long winded. (kinda feeling that way myself right now) You know, thats rare for most PR people. Should that be held against him? I don't thinks so. Re: compiling the list of questions by Rodney. From what I can see from the archives, Fearnow does not seem to be pro-active in this thread. This could be for many reasons, but maybe he is not that technically oriented. With Rodney being the "horse" on this thread and since the logical place for questions to arise is this thread. I makes good sense that Rodney compile the questions. Personally, the only reason I am taking the time to justify my first response is that I truly have serious concerns about anyone being used as a "scape goat" and I really do believe that changing PR firms due to a management "SNAFU" will do nothing but open the door for many investors like myself to exit the stock due to lack of proper focus by managment and also lack of "fair play".