To: JOE MEDSKER who wrote (6429 ) 6/28/1998 1:23:00 AM From: James Harold Alton Read Replies (1) | Respond to of 19331
"This whole selling mess started when the CardCall stock holders received their DCI shares and it won't be over until they have sold every last one of them. As I said, nothing else has worked, its time to end this frustration." I share your frustration and have even also stated that I was concerned that the CC problem would not be over until every last share was sold, but at this stage of the game I believe we might do more damage than good with this plan. Joe Murphy has told me that our problem is not with all of the CC shareholders, that some are holding their shares and not selling, if this has changed let me know. Add to this that we have surely absorbed about 2/3 of the total CC shares, the fact that a good chunk (I think it's 700K +) are in $4 warrants, so not an issue until $4, the deal worked out with Daily's shares via the filing (which I hope is working) and I wonder if the CC problem is still big enough to justify trying to cure the problem by tanking ourselves? Also we have no way to know what level the CC shareholders would be willing to sell down to at this point. The time to have enacted this type of plan, was when the BB was first put in place. If our share price had dropped to around $1 at this time, there would have been enough in place to buy almost every CC share at retail and to have had this issue behind us. I don't believe that the CC shareholders hold a large enough hammer over us to keep us in the tank for all that much longer. How about we sell CC and use part of the proceeds to clean up the remaining shares, and the rest for cash acquisitions? This would seem rather fitting to me. (G) Don't you believe that with perhaps $4 stock that Joe could buy us another company (US based please) to replace CC with? Just my thoughts. James