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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Daniel Chisholm who wrote (4937)	9/2/1998 11:28:00 PM
From: James Clarke	Respond to of 78687

FLYT - I was interested until I saw it trades for less than the change in my pocket. As a rule, I don't do penny stocks. I'll go down to about 4 dollars. But if the story you tell checks, it sounds like a perfect situation. But I am not going to put in the time to check it out because I would never buy a stock selling for 25 cents. Though I am not telling you not to - its just not my game. Good luck. Jim

To: Daniel Chisholm who wrote (4937)	9/3/1998 12:11:00 AM
From: Paul Senior	Read Replies (1) \| Respond to of 78687

Daniel C. re: FLYT. I bought a small position after it was first mentioned on this thread. I don't at all like that FLYT are going into the dry cleaning business. At this point though, I will vote for management. All these net-nets are weird IMO. That's why I think it's a statistical game--you've got to own a bunch of them to make money (But a bunch of people on this thread might very well disagree -g-) And as you know, it's still hard to find many net-nets in this market. Yes, cash on hand exceeds stock price for FLYT; whether or not management will fritter it away, we don't know.

To: Daniel Chisholm who wrote (4937)	9/3/1998 8:49:00 AM
From: Kathleen capps	Respond to of 78687

Daniel, I have an extremely small position in this company. I don't like the idea of the proxy fight. While I agree the current management hasn't been impressive, it seems like a proxy fight will only waste the shareholders money, thus depleting the cash in hand which was the sole reason I bought the stock in the first place. If you check on yahoo, somebody has posted details about the background of the people trying to take over -- not particuarly impressive. Having said that, I recently changed my sell order from 1 3/8 down to 1. I don't want to spend too much time or effort on this (I have a very small position and bought it solely on cash bal of the company vs stock price). I was interested in seeing if it would work out on a sort of statistical basis vs any real analysis of company future prospects, etc. Frankly after learning more about the situation, I don't really want to be associated with it at all, but will continue holding for a while to see if I can sell out for a slight profit. And also to gain experience on the theory of buying $1 for .50. Kathleen