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

To: Mike Sawyer who wrote (1407)	3/23/1998 8:27:00 PM
From: Russell Gish	Read Replies (1) \| Respond to of 5847

Mike, Thanks for the legwork and cautious optimism. Hope everyone understands the importance of at least doing our little part in accelerating the extermination process of Shorty. Hate to sound like a broken record, but... * GET YOUR DAMN SHARES OFF THE STREET *

To: Mike Sawyer who wrote (1407)	3/23/1998 8:52:00 PM
From: brad greene	Respond to of 5847

Mike, I can help a little bit here. Since this train is quickly turning into a locomotive....folks are wondering "can it be true?" ....and "what do the shorts know that I should know?"...... Everyone starts to think..........is there really 7.5 million shares...or is it closer to 50 million?...and is this company really just a telephone and some fancy IR packets. We have been there and done that. This thread is different than the other short squeeze deals. The folks here are not sharks and are very interested in getting the correct information. Many of the older guys here looked at all of the others and liked this little stock best. Posters have had representitives visit the company and have seen the products. They are a small company with a full line of hardcases for laptop computers. DoubleCase is the brand name. You can find DoubleCase products all over the place. The value I see is the future market for their products and their positioning to take advantage of it going forward. BANY is not Microsoft......and it's entire market cap @ 25 cents per share is under $ 2 million. The value of BANY must be based on the value of the DoubleCase brand going forward. If you base the value of BANY on past sales.......it is worth nothing. Most small story stocks are like this. Banyan Corporation PR has told us many times that there are very close to 7.5 million outstanding shares. Close is not give or take 5 million shares. Included in the 7.5 million, are about 3 million shares from rights conversion. These rights were granted to original shareholders when BANY restructured one or two years ago. Each right was convertible into 2 shares of BANY common stock. One share of each pair being restricted stock. The other share of the pair would be non-restricted. The deadline for conversion of the rights was in late January of this year....and obviously 1.5 million rights were exercised because about 3 million shares were added to the total outstanding. Now. Who is getting these shares? We strongly believe that Cameron Yost, BANY CEO held 400,000 common shares and 500,000 rights.....and so did Mr. Parrish, Director of the Banyan corporation. Both have the exact same numbers. They are BANY buddies. Since each right converts into two shares.....Yost gets 1 million and Parrish gets 1 million. Each of these guys do/will have 1.4 million shares. The other 1 million rights shares I believe would go to other larger shareholders who have held BANY stock for a few years and other employees of Banyan who held stock before the restructuring. The idea that Yost and Parrish were the only two shareholders of a publicly traded company does not make sense. I think there were a few others...but not that many. Since they have exercised their rights...then they must still be around.....Lurking. I figure Yost and Parrish combined own 2.8 million shares...a huge part of the company.....These shares are in cert form and have not and will not be sold...so I've been told....over and over again. Based on the other rights converted......( 1 million shares total)....there are other "old" folks holding at least 500,000 shares. Total for these "old" guys...1.5 million. These folks have VERY high cost bases on their stock. I hope this gives a good start to the discussion about who has what and how many. The next post should be a copy of an E-Mail response from Scott Sitra that talks about the shares in detail...It was posted on this thread yesterday or this morning. (can someone find it...and post it next) I need a break...and this is getting long-winded. bg ps. BANY got just over $400,000 from those who converted the rights...25 cents per right....In the company coffers.

To: Mike Sawyer who wrote (1407)	3/23/1998 9:48:00 PM
From: Larry	Respond to of 5847

Mike, Good work with the report from your talk with Scott. To pick up a little where Brad left off: The whole rights conversion thing was very confusing and took us a long time to understand. To make a long story short it breaks down like this: 1,700,000 = Old Float Number 1,400,000 = New shares from the rights conversion __________ 3,100,000 = New Float Number The downside of the rights exercise process was of course, that it increased our float size and overall shares outstanding. The upside was that the company got a capital infusion of $244,898.25 in proceeds from the Rights. The important thing about the new shares from the rights conversion is that they were issued both in certificate form and rule 144 restricted stock form to BANY insiders and supporters who are highly unlikely to sell them anytime soon, especially not at these prices. As to your question about "whether this new issue of stock may have been shorted against as this could be where the market makers are planning to get coverage for their short." Scott is right here, because, as these shares are certed and restricted, they are simply not available for borrowing and shorting. The shares being used for shorting are the free trading ones we are trying to buy up, convert to certificates, and, as Russell says GET OFF THE STREET! The manipulations we are seeing with some of our MM's not filling orders right away, not raising the bid/ask when there is no stock available to sell, and generally misbehaving, are really just the mechanics of intentionally keeping the price depressed. That way when the time comes to cover the short, the price will be in the right place.