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

To: JakeSki who wrote (7436)	2/18/1998 3:52:00 AM
From: Jonathan Bulkeley	Read Replies (3) \| Respond to of 10368

I listened and learned! I have read through all the posts this morning and since I hold a sizeable chunk of the stock, I thought I'd give my opinion. 1) It was obvious that this was the first conference call that these guys have done. They were nervous at the start which I thought was cute. 2) They kept referring to their business plan. These guys have a clear plan and they will execute it if the market doesn't change. The facts of the plan are that there are 35,000 bingo centers out there. Their mission is to consolidate the industry. They have no competition right now. They will buy bingo centers at 3x cash flow if they can find em at that price. With no competition bidding up valuations, they should be able to grow for the foreseeable future. VGM cash flow and the warrant call cash will be used for acquisitions. We don't want them to buy stock. We want them to buy businesses at 3x cash flow. Period. 3) The pooling question was the most important asked yesterday. Acquisitions over the next year will be made in cash not stock. That means that BNGO will only count earnings from the acquisition from the date of acquisition. They will not get full year benefits of either revenue or earnings. Anyone looking to value the company into the future will take this into account and calculate annualized acquisition earnings going forward. 4) 20 million in revenue with acquisition revenues only partially recognized is good news. 5) This has always been a long term investment for me and as I have always said a 12-18 months from now the stock will be significantly higher. $10-$13 would be my best guess. 6) Management is significantly at risk. They own 40% of the stock. If they screw up their business plan, their net worth tanks. I'm long and staying there long term.