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

To: DJB who wrote (7565)	2/23/1998 7:54:00 PM
From: Nittany Lion	Read Replies (2) \| Respond to of 10368

Here's a Bingo Hall in Ala. the Co. might be able to get real cheap - you may have to read it a couple times to get the thrust of the story: Frontier Palace in Piedmont..world largest bingo hall Ron Faster, ceo of sbid and possible owner of this 80,000 square bingo hall has been put in jail for 50 week for provation valation of 5 circet court judge Joeelae Laired. Foster has been charged with operating a gambling machine. Judge had to foster to get out of bingo hall and stop promoting bingo............but he did it any way. Frontier Palace had been taking up money deposits for game on April 8..If you contact the judge about your deposit, then chances are u'll get your money back Frontier palace give away 1million dollars in bingo prize money in 1 day............offer bus rides "free" by Don Bowen. He also is being looked into !!!! This story is in alot of southern papers and its HOT. All this is taken place in Anniston. and Piedmont, AL. Ron Foster,ceo of sbid, owner of Frontier Palaces, new address is AL. JAIL. HOUSE yes he will spend the next 50 months behind bars. No more of those big high payoff him and Don Bowen ran out of Piedmont. AL. Guess alot of players were right...rip off bingo players and you'll get yours...its just a matter of time Gary

To: DJB who wrote (7565)	2/23/1998 9:45:00 PM
From: SE	Read Replies (1) \| Respond to of 10368

Dennis, Don't discount the fact that for the year and till June 1999 we have VGM money. At that point in time it will be just bingo halls in SC. There must be other states that allow VGM's, but even if there are not, think of the number of halls that can be added by 6/99. Let's see 14 now, plus 4 under contract, plus 10 by end of June, plus another 10 per each 6 months till June 99 would be 48 halls. Conservative or pie in the sky, I don't know, but that would give us earnings of $.72 less corporate expense of $.27 or net earnings of $.45 and after tax earnings of $.29. This of course is based on a full year earnings. $.29 times 20 is $5.80. Not too bad. I think from a P/E standpoint we are safe. However, remember the warrant call and the current stock price. P/E's and fundamentals mean very little if the market wishes to exit a stock. Not to be negative, but we could see new lows if the market decides the outlook is bad and SC is toast. I guess I would disagree, but somehow I don't see myself supporting the market! :) In fact, I wish for once the market would support me! LOL! Every 50 VGMs produce $300,000 net profit. (50 times $6,000) That is equal to 3.3 cents per share (is that better Chalice!) With 700 VGM's that is $.46 cents per share. I would expect some additional VGMs will be added to current locations and would expect that that will help us down the road. So let's see, $.46 from VGM's and 14 bingo halls for a full year, and 14 additional by end of June, let's say 14 for 1/2 a year, would be $.315 less $.27 for corp expense equals $.50 before tax. After tax would be $.33...right in line with what JTO stated. Certainly corp expenses could be a bit higher and decrease that by a penny or two or the bingo halls might not come on line as quickly and that could decrease by a penny or two and we could be at $.25. On the other hand, things may go smoother than we thought and we could be at $.35 to $.40. To break $.40, we need additional expansion in either bingo halls or VGM's that we don't know about yet. But in the meantime, I think my short-cut way of determining earnings appears to prove out. 1 bingo hall = $.015 per share earnings 50 VGMs = $.033 per share earnings Corp Exp = $.27 per share earnings. After tax = 65% of above calculation -Scott