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Non-Tech : Lake City Gaming: LCG-V -- Ignore unavailable to you. Want to Upgrade?

To: K. Anders who wrote (37)	11/25/1998 8:03:00 PM
From: David Michaud	Respond to of 124

AGM in Kelowna, BC, on Monday November 23, 1998. There were about 25-30 people attended. Lots of questions and good replies. We feel confident about this company and where they are taking it. The only short-coming that was discussed was how to value the 3% facilities assistance. As for those that do not like the book value of LCG, here is an analogy that their lawyer provided.(this is not verbatim) "Look at Lotto 6/49. What do they own: a bunch of machines and little balls with numbers on them. These together are not worth much but who wouldn't want to receive a cut in their revenues?" In addition, the facilities assistance of 3% is like accelerated depreciation, which reduces capital assets' net book value. The next year should be very interesting as Vernon and Kelowna are completed. BLSH quote