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Non-Tech : Littlefield Corporation (LTFD) -- Ignore unavailable to you. Want to Upgrade?

To: Michael R. who wrote (8756)	6/17/1998 2:21:00 AM
From: Steve Cox	Respond to of 10368

First of all in response to GLOW, good luck, but people who play Bingo are mostly elderly and want to get out of the house to socialize with others. Shoot the breeze while dabbing their ink markers on called out numbers in anticipation of that word BINGO!!!. Can't see a little old lady sitting at home in front of a Dell computer with a 166MHZ processor,64MB RAM and 21" monitor yelling out comeon B-5!! As for the stagnant BNGO, the new CEO is all hot air until we see results. He has read the BNGO posts here on SI or heard about our demands thru Mr. Orton. He has laid out a speech telling us exactly what we wanted to hear. Talk is cheap. Until I, and it looks like new investors waiting on the sidelines, see the share buyback program start to materialize or the exorbitant salaries being paid out (plus stock options) be cut back there will be no price appreciation. Hell these guys are being paid like this company tripled revs and earnings last year. It's ridiculous. I'm in a small cap (LWAY) which has, in the last four years, gone from earnings of $.03 to $.19 and on the edge of explosive growth with the CEO also being the CFO, Treasurer and Director pulling in a salary of only $100,000 with no stock options. Now that's a man working for you, THE SHAREHOLDER. Been in BNGO since the early Rodney days, should have bailed at 10. Trim the fat JTO and pass the word on to your boss, new investors are waiting. Question: Why have we not seen the buyback happening? At annual meeting someone said to figure 1998 earnings multiple 1Q98 times 4. Ouch! Company says DD is needed in these new states and some of the existing bingo centers may not be up to what we expect so we may see more centers closed and a long waiting period to open new centers (beyond 1998) to get the ball rolling again. Is the company anticipating the stock to fall further because of this scenario to begin buyback? Seems to me they should have started now. Venting, I feel better now. Steve