To: Due Diligence who wrote (7091 ) 7/29/1998 1:51:00 AM From: JCinTC Read Replies (1) | Respond to of 8835
Jimbo, re: BUKS This guy posted to GaBard to check it out a couple of nights ago, so i did also. This is another co whose ship is coming in to late to save it from delisting. I would wait because the stock will probably hit .15 before $1 when it lands on the OTC-bb. Co sales dropped to 7mil from 16mil(bad) earnings 1st 9mos +461,449 vs -362,114(good) They have issued a lot of shares since mar appr.1.9mil that i see, co must have needed cash & sold a lot of convertible shares.(not good) Temporary Services(Butler Temporary Services Inc.) no revs in 97 or 98. When the co & the tribes open mgt. expects that a majority of the personal in the Indian Gaming Enterprises will be staffed by Butler.<<<what the hell is this?? don't expect it get it in writing!!>>>> They have what appears to be a 30% management contract with the tribes + the development cost for the casino's.(good) Can't find the exact term's of it or how long it's for. Their 10k is late. (bad, would especially like to see current outstanding & float) All the aviation subs. increased their sales looks like avg. 40%. Food distributors RF, INC. 73% decrease in sales revs 3,631,051 down from 13,589,037 last 9mos profits 693,669 vs 1,608,942 in 97 I would want to know if there has been a management change which is causing this very serious decline. I would also like to what background they have in running any gaming operation. I think after it hits the OTC-bb & bottom's out it might not be a bad play depending on the casino contract term's & getting rid of whoever is destroying the Redi-Foods div. ...that's the info i found on a late sun. night & haven't followed up with the co. JC....JMHO