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To: JakeSki who wrote (7605)	2/25/1998 7:45:00 AM
From: SE	Read Replies (1) \| Respond to of 10368

A drop below book value does indeed happen. exchange2000.com Why? I am not sure, but it does occur. Probably would happen if the cash burn rate is greater than the net cash inflow from business, but that is a guess. -Scott

To: JakeSki who wrote (7605)	2/25/1998 8:10:00 AM
From: SE	Respond to of 10368

In the for what it is worth department..... The downtrendline has been broken. The stock now is in a normal pull-back to the trendline pattern on relatively weak volume. This could continue for a few days. Right now I have the bottom targeted at 3.4375, but it could be 3.375. If we break that we may be right back in the downtrend formation. The stock should bounce off of the trendline at those numbers on good volume for any confirmation to take place. I hesitate to place bets either way...... However, I don't think we will bounce off of the trendline in any substantial fashion absent some kind of news from either the company or SC. The company news has to be better than a letter of intent to acquire a couple of bingo halls. The investors need to see something of real substance indicating a substantial turnaround, something that will state to the investors that the company's projections very well might be on the low side. Right now the company's projections look reasonable. If none of this happens the stock will probably be the dead money that has been spoken of here earlier....trading range between $3.5 and $4.0. I guess in many respects, it is now up to Wilson and JTO to come up with some kind of positive news that tells us all that they have got grand plans...and the news must be accompanied by an actual statement as to how this will all take place since investors seem somewhat reluctant to trust what they say. In my mind I understand why the lack of meeting the bingo hall numbers...it was due to some not performing, yes, but more so to the fact they expanded their VGM business much faster than even they projected. If you spend time on one aspect, the time is not there for the other and at the time they had JTO, Wilson and Louge to do both aspects of the business. Now that Harrison and Mims are on board they can run and work on VGM deals and JTO and Wilson can work the bingo hall side. Anyway, the company never addressed why they had less bingo halls than they projected and it has left a bad taste in the mouths of the investors. This also is understandable. I leave it up to Wilson and JTO becuase Mims and Harrison have a full plate in SC both running the VGM business and working with the political structure right now. We will find out shortly if the man at the top is really the guy that can take this to the next level. Am I impatient? Yes I am, but so is Wall Street and the luxury of time does not exist when the stock went from 10.5 to 3.5 in about 3 months. That causes lots of pain and hard feelings. What are they doing right now to make sure the stock goes from 3.5 to 7 or greater in the next three months. I don't think we need the world promised to us, but it sure would be nice to get a few crumbs promised.... -Scott

To: JakeSki who wrote (7605)	2/25/1998 9:19:00 AM
From: james r. davila	Respond to of 10368

Anything and everything is possible in the stock market. Remember this is not Intel or Microsoft, nobody knows management at all. Mike Fearnow once told me that 45 cents was in the bag for 97, and that the co. should also make 12 -15 cents for 4th Q. You cannot trust anybody, but the direction of the stock price will tell all. I am almost certain this stock will test 3 1/8, and then break it to go and test that BookValue, why not? Nothing on the burner that makes my mouth salivate. jim