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Microcap & Penny Stocks : BANY: Core business growth, exciting affiliations! -- Ignore unavailable to you. Want to Upgrade?

To: dealmakr who wrote (1287)	3/21/1998 1:56:00 AM
From: Mike Sawyer	Respond to of 5847

I thought I would post a portion of the President's message to BANY shareholders. This is the part talking about the short position on BANY stock. The complete message can be read at... sitra.com sitra.com sitra.com Here's a portion of it... Shareholder Value Not everything was so clear-cut in 1997. Banyan spent far too long evaluating the merits of a proposed merger with Echo Marketing Corporation during the first half of 1997. We now have the benefit of hindsight to tell us Echo Marketing was a mistake we should have abandoned at a much earlier date. Nevertheless, the real pitfall with the whole Echo Marketing event was Banyan's decision to put off establishing a pro-active investor relations program until after completing the proposed Echo Marketing merger. Management believes that the failure to establish an investor relations program until mid-July 1997 was the primary factor responsible for the lack of market support during the first half of 1997 which, ultimately, resulted in Banyan's Common Stock falling from nearly $6 a share in January to about 15 cents a share at the time we commenced our investor relations program. Essentially, by a lack of action, Banyan sent an open invitation to short sellers to prey upon its Common Stock. and they did. As I indicated in my letter to shareholders dated October 14, 1997, Banyan believes there is a significant short position in its Common Stock. Banyan still believes this short position, estimated at between 400,000 - 600,000 shares, exists. There has been no indication of anyone covering a short position. In fact, we continue to witness excessive predatory trading practices in Banyan's daily trading activities. In my last letter I asked each and every shareholder to maintain their stockholdings in certificate form thereby eliminating the possibility of a professional trader or market maker borrowing against those holdings to initiate a short sale. Since that time we estimate between 300,000 - 400,000 shares have been converted from "street name" into certificate form. Unfortunately, there needs to be two to three times that amount converted into certificate holdings before any real impact can be made to stop and prevent the short selling practices we are currently experiencing. On behalf of the Board of Directors I would like thank each of you who is now maintaining their holdings in certificate form and I implore those of you who are still maintaining their holdings in "street name" - whether you own thousands of shares or just a handful of shares - to convert and maintain those holdings in certificate form. This effort to drive short selling out of our Common Stock will be successful if and only if we all band together and work as a team.

To: dealmakr who wrote (1287)	3/21/1998 2:08:00 AM
From: brad greene	Read Replies (2) \| Respond to of 5847

David, I find that very humorous. Get ready...." Mr. Hayes, you don't know me...but I represent a party that's interested...........". I believe number one already blew them off.....a very good sign. I believe certified shares can be sold the moment the certificates are delivered to the broker. If you have a local broker, you can just take them down to their office and say "sell". I would think that internet investors must mail them in before selling. It may be that you can sell them and deliver the certificates in three days? I don't know. Maybe someone can find out. Nobody should feel like they can't sell quickly if they need to. Some would be more comfortable leaving a portion of their shares in their accounts. Everyone has a comfort level. I think the idea is to sell slowly after the stock reaches a higher level. If everyone sells after the stock goes up a nickel....then the short is let off the hook. That is why weak players....and there will be some, will need to have their sells at lower levels bought out by more savy players. I believe that this will happen the moment it become clear that a short must cover multiple hundreds of thousands of shares. The question of whether or not you can pick up the phone and tell your broker you want to sell BANY and you have the certificates in front of you.......is a good one. Any brokers out there?.......How do you do the dew?