To: George K. who wrote (108 ) 3/26/1998 6:27:00 PM From: D. Peter Vanderlee Read Replies (1) | Respond to
George...we are honest at BCB and we take very seriously our responsibility as public company executives to keep the playing field as level as possible for all investors and shareholders. That means, from time, we may in discussions with other parties regarding sales, distribution agreements, potential partnerships and investment. Those are usually done under mututal non-disclosure agreements, which we, again, take seriously. In the case of BCB's recent stock run-up, as we told the ASE, there was nothing material behind it. We are in discussions with several parties currently about arrangements and relationships that could benefit the company significantly. However, nothing yet has been consummated. If and when something is, we'll issue a news release, as we always do. Because we are a junior high tech company, we attract speculators and any rumour can cause sudden flurries of trading in our stock. We can't do much about that except be as honest as we can be without violating our non-disclosure responsibilities. My druthers are to build value into the company, and its stock, over the long haul. Right now our market cap...even with the share price at 20 cents...only reflects the money which has been invested in the company (about $7 million) and doesn't reflect the value we've created in developing products and distribution capability. Partly that's because we're at the mercy of short-term traders who hold large positions. Jones Gable is a case in point. They were extremely helpful as facilitating dealer with our rights issues and picked up those rights not used by other shareholders. This gave them a big position in BCB at 15 cents. I can't be too upset that with the recent spike in our share value, they are selling to ralize a profit. That is what many traders do. Long term, though, I think we're a much better bet and have the opportunity to steadily increase and build real value, not hype, so that we become a dollar stock instead of a penny stock.
