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Microcap & Penny Stocks : Ben Ezra Weinstein (BNEZ) -- Ignore unavailable to you. Want to Upgrade?

To: Leroyt who wrote (7307)	2/24/1999 9:28:00 PM
From: MoneyBaggs	Read Replies (2) \| Respond to of 9391

This was posted on RagingBull today and I thought it should be posted over here too: By: thirteen26 Reply To #758 by OneBlueSky Wednesday, 24 Feb 1999 at 5:26 PM EST Post # of 765 OneBlue, Blueshoe, and who...ever, I'll weigh in with a contrary opinion. I don't think anything has changed. To me, Jack's email response might have been blunt and to the point, but I don't know how you can verify attitude in print. My personal contact via a few phone calls with Jack and Mikey has revealed nothing near the negatives that can be inferred from the email message. Mitchell's post on SI about the response seems to indicate that he isn't taking it so negatively. A recent talk with Mikey did nothing but confirm what I had felt before. Mikey was very straight forward, not evasive at all. In fact, he was willing to talk about more than I than I was asking about. I started by asking if the information about CompUSA posted on SI can be confirmed. CompUSA did pull the product on 2/9 without saying anything to BNEZ. So it should not be so surprising (as it was to Peacelover posting on SI) that a shareholder who happened to be in the store found out about it first. Mikey said they could have sued (he's the lawyer, remember) over such a move. But, they are already taking on a giant in AOL, and the door is still open for getting back into CompUSA in a few weeks with different packaging. He asked CompUSA if they couldn't have called BNEZ first before pulling PMA. They apologized and said "next time"! Mikey confirmed what was posted about the Transfer Agent fouling up the dividend through a clerical error. He also questioned why people invest in Bulletin Board stocks and get so upset at how long developments can take. He asked if I knew how many companies had a decent software product and a good PR firm and still did not make it? He was emphasizing the risk involved and the time it takes. I told him I recognized all of this and have a good deal of confidence in them. He asked more specifically why I invested in BB stocks. I told him that investing in BNEZ was a result ofnetworking, having heard of them through a business contact, whom I have had contact with for four years, and whom I respect as being very careful in his assessment of risk. Mikey knows of him and spoke highly of him and I told Mikey that he thought well of him and Jack, which eliminated the "shenanigans" risk for me. We went over how BNEZ has saved almost a year in time and much money, by starting with Ingram Micro rather than starting with the retailers. Mikey then asked when I last talked with him. I didn't remember precisely when, but I thought it was some time last summer. He then illustrated his desire for this whole thing to work with a personal note. I won't share the specifics because I did not ask his permission to do so. He said he told me that not because he is looking for sympathy, but to show that he and others have much at stake in very practical terms as to why they work long and hard and have invested much personally, even mortgaging homes, to make a go of all this. I don't think BNEZ is gnorant of all that it takes to be successful. Mikey said that many people might ignorant of all that it costs to do all they would like. We talked a little about financing for advertising. There had been some talk a while ago on SI about MR D possibly providing a loan. Mikey said I could be assured that they are looking at every possible source to make the company successful. He did say that if I knew of anyone interested in a $1 million debt instrument to let them know! I wish it were that simple. I asked if would be a help or a hindrance to contact magazines to request a review of PMA. Mikey said it might be of help. They have sent out 260 packets to promote coverage, but those places get such packets all the time. Having more specific requests from individuals may indeed help. He apologized for the time it took to return my call. He said they have found that shareholders prefer talking to him and Jack rather than having someone else return the call. They seek to do so, but it does often mean a longer wait time. My conclusion continues to be that they will not dilute the company to death, nor will they "blow it" due to ignorance. I am in agreement with those who believe that what does not get done will be that which cannot be afforded. After having talked now with Mikey twice, and Jack once, I have no reason to mistrust their credibility. (It is true that they COULD be two of the best actors on the planet, but not very probable.) The decision to withhold all reporting information is open to be agreed with or disagreed, but it is consistent with everything else they are trying to accomplish. If PMA sells, BNEZ will be successful and will be able to afford all it takes to be a fully reporting company. ...thirteen26