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Non-Tech : PDS FINANCIAL or How to make REAL MONEY in slots -- Ignore unavailable to you. Want to Upgrade?

To: raefon who wrote (2)	6/9/1998 10:08:00 AM
From: Quilty	Read Replies (1) \| Respond to of 27

raefon, The 144 filing, while a disappointment timing-wise, augers well for us in the near-term as it does serve to create liquidity in the stock. The real effort was to bring strong holders in, and liquidity was their primary concern. Management is interested in shareholder value to the extreme: collectively, they hold over half the stock. This will all seem trivial by the next quarter. Visit PDS Financial, it's a short trip for you from Arizona. In my own experience, I liked the story but had some lingering doubts about the execution, especially in terms of the reconditioned machines. This was all cleared up in my visits, and I have added significantly to my position since my last trip to Las Vegas in April. I agree that PDSF has not been very visible to Wall Street. They are complete novices in the art of stock promotion, a trait I admire (although it could be construed---writing in this online forum---that I do otherwise). For my part, the valuation disparity drives me nuts, and like just about everyone I've ever met it makes me feel great to be right and to have made a stand early. All of that doesn't matter: people in the gaming industry have begun to take notice, and that's where these things really start, where they have the stamina to build, not on the internet. More to the point, PDS has, in the last week, hired the firm of Kehoe, White & Savage to handle Investor Relations, and I suspect that Pete Cleary, the understated CFO, may begin to open up more to the Street. It is to me obviously a case of not knowing what he can say or not say rather than a disdain for shareholders. He's a Midwesterner, a nice guy with a bad haircut who really knows his business. He's not the Musicman. With the valuation at this level, you should do some more work. If this stock got MINI's cash flow multiple, for instance, it would be trading in the high 20's. AND WE BOTH SEEM TO AGREE THAT MOBILE MINI IS, AT ROUGHLY $10, GROSSLY MISPRICED. Let us know how your trip goes... Q.