Littlefield Corp (LTFD)

[Joe Master]

The $180K is not really material because if they had done as you say and reserved for the worst case they would have been over accrued by a million. That would have hurt the stock price worse in the eman time. They had two options to try and settle with Collins estate or appeal to the Supreme Court of the US. They chose to negotiate (and hold the threat of an appeal over the estates head since that is the only cards they really held). Collins estate was better off to comprimise because they could reduce their cost and thus they did. We made a guess as to where the costs would be and they did a pretty good job of picking something ion the middle where a likely settlement would come down. This is such an imprecise science that anything not at one end of the spectrum or the other has to be judged as doing the job ok. Belive me if you read the Yahoo board I have been critical of management moves in the recent past. In this case I think they did just fine.

The float is a huge problem. There is no waty to attract bigger investor if the float and the number of shares traded is too low. That is a real continuing problem for LTFD. Jeff buying more shares does not help this particular problem.

[gilead23]

My interpretation is a bit different.

Based on the interest charges that are due it seems that they should have reserved about 3 million. They were lucky to negotiate it down.

Still even if you are right 180k is material and its yet one more accounting issue they have not gotten right. I gave them a pass on those earlier but it is getting harder to do so.

I think we simply have different perspectives on various issues. I didn't think the float was a problem. I thought lack of visibility was. I felt eventually shooting for a major exchange listing was more important than getting a few more shares out there. It certainly does not seemed to have helped the price. It did roughly triple on nice volume even with its pre-split float.

All that said what you say is true. EPS numbers of .15 or more are possible on an annualized basis so its certainly not expensive and I do still have some shares. They just havent done much to inspire confidence as of late.

[Joe Master]

The shortfall in the Collins payment reserve is really very little. About $180K out of a total payment of about $2.2 million.

As for expansion probabilities you cannot have it both ways. If you wants lots of expansion announcements you will be stuck with some good and some not so good results. A more careful mode will result in less freugent a(and maybe smaller acquisitions) but hopefully better executed and planned expansions that will make long term profits.

As it stands now we have a stock that can make $.15-$.20 EPS righ now with is 5-7.5 PE we have little debt so we can make some expansion with debt and we have an undervalued stock.

I own low to mid 5 figures also at the moement not a lot but it really has a nice floor built in.

That floor is the wherewithall of Jeff M. to buy more shares "when the price is right". I get the feeling the price is right for him if the shares ever trade at less than $1.00. I think we have very good support here but of course that is just my opinion. I think your looking at his lack of buying as a negative is the wrong attitude to have. We really do not rwant to reduce the float if possible. It is low enough.

If we can continue to have sustained profitability and clear up t he Florida legal issues (Furtney), then we will take off.

The stock will trade at $2.00 based on today's business alone. Any significnat new business will within a year or so after the acquisition take us much higher. IMO

The c

[gilead23]

I agree but to me the only choice that makes me want to invest is intelligent profitable expansion

Bad expansion decisions would make me want to sell

No growth would also make me want to sell

In addition I am losing some patients due to the various accounting fiascos related to options.

I have a couple others as well

1. Not having enough reserves for the Collins matter. This was a blatantly obvious enough mistake that they should have recognized it years ago. It gets back to properly dotting the i's and crossing the t's on the books that they have struggled with

2. Jeff's failure to buy shares. He said previously if it wasn't for the quiet period prior to the earnings release he would have "bought every share" on the original selloff down to 1.05. So why isn't he buying now? That was his stated intent.

There are just several things that are going on that are not inspiring confidence for me. I had over 40k shares at one point and Im down to 7k now. I feel OK with that many shares. If I still had 40k I would be very nervous.

[Joe Master]

I would rather have no expansion than one that does not fit the model for growth. Growth for its on sake was tried here for a while and we paid dearly for it.

Be a little patient. The last several small acquisitions all paid off pretty well.

[gilead23]

Probably a fair and conservative estimate

I will say their lack of progress on the "bingo bucks" and new locations is bothering me.

We can't count on same location revenue growth to be the catalyst for these guys. They need new locations or some other revenue driver and I thought we would have had an announcement already.

[Joe Master]

A good estiamte might be about $3.5 million in revenue and a half million in profit for both Q2 and Q4 and $3.0 million in revenue and $quarter million in profit for the 1st and third quarters. All of these numbers exclude charges like the $180K or so that si coming this Q.

[gilead23]

That would be last Q. This one should be somewhat weaker in terms of the hospitality side for sure.

I had figured them for .03-.05 before the onetime charge.

[SSKILLZ1]

Rawnoc, q4 and q2 is generally there best quarters. Hope this helps. All is just my opinion, and I could always be wrong though.

[Rawnoc]

Do you remember/know when LTFD's seasonally best quarter is?

TIA.

[gilead23]

Yes good numbers but the CC is what IM really interested in

[MikeDDKing]

Outstanding Q2 report...

Littlefield Corporation Announces Ninth Consecutive Quarter of Substantially Improved Earnings
Thursday July 27, 2:12 pm ET


AUSTIN, Texas--(BUSINESS WIRE)--July 27, 2006--Littlefield Corporation (OTCBB:LTFD - News) today announced earnings for the second quarter of 2006. This was a very good quarter for the Company.
Results were substantially improved when compared to Q2-2005. This is the ninth consecutive quarter of substantially improved operating earnings.

The Q2-2006 earnings include approximately $77,000 of noteworthy, non cash expenses for such things as compensation expense related to stock options and the write off of bad debt for both Entertainment and Hospitality. Legal expenses were $47,782 for the quarter -- a "normal" level of legal expenses.

The Q2-2005 earnings included approximately $670,000 of nonrecurring income items including the recognition of income associated with the payment of a promissory note and deferred compensation. In addition, the Company expensed bad debt of approximately $130,000 during the same quarter.

Highlights for the quarter are as follows:

1. Net income for the Company increased by 28% from $474,458
to $606,867.

Stripping net income for the quarters of the items noted
above, the comparison is even more impressive with net
income increasing from an operating loss of ($63,737) in
Q2-2005 to operating income of $683,731 or an increase of
$747,468 in Q2-2006.

2. Hospitality net income was $236,325 for the quarter -- the
most profitable quarter in the history of the Company's
ownership -- an increase of $190,084 or 411%.

Premiere Tents & Events Q2-2006 net income (gross margin)
was up 990% or $182,052 to $200,438.

Word of Mouth Q2-2006 net income (gross margin) was up 82%
or $53,146.

3. Entertainment (bingo) net income for Q2-2006 increased
$361,813 or 77% to $833,318. Of particular note was the
increase in Q2-2006 Texas bingo net income (gross margin)
of 141% or $316,535 and 104% or $558,835 YTD. Texas bingo,
the Company's revenue and earnings leader, is doing very
well.

4. Earnings per share for the quarter increased from
$0.0553 to $0.0561. Stripped of the noteworthy, non-cash
and non-recurring expenses identified above, earnings per
share for Q2-2006 increased from ($0.0074), a loss, to
$0.0632.

Earnings per share for the YTD 2006 increased to $0.1069
from $0.0701 in 2005 -- an increase of 52%.

Please recall the recent issuance of a 20% stock dividend
in the interim period which has impacted the number of
shares outstanding.

5. Revenue was up by 21% or $617,330 with Hospitality
increasing by 25% or $320,923 to $1,622,036 and
Entertainment increasing by 18% or $303,910 to $1,996,000.
Hospitality revenue is up 20% 2006 YTD and Entertainment
is up 18% YTD 2006.

Of particular note is the 41% increase in Q2-2006 quarterly
revenue for Premiere Tents & Events.

The following report is based upon accounts that have been reviewed by the Company's auditors and the Company's Audit Committee of the Board of Directors. The auditors made an extraordinary effort to complete their review prior to this earnings release. In the future, the Company will endeavor to report only "reviewed" earnings information which will necessitate changing the anticipated reporting date from the third Wednesday of the month following the end of the quarter to the fourth Wednesday.

REVENUE:
--------
Q2-2006 Q2-2005 Variance % Change
------- ------- -------- --------
LTFD Corporation $3,614,848 $2,997,518 $617,330 21%
Entertainment 1,996,000 1,692,090 303,910 18%
Hospitality 1,622,036 1,301,113 320,923 25%

Revenue has surpassed $3,000,000 for the quarter and is almost $2,000,000 for Entertainment. Hospitality has continued its recent record of meaningful double-digit revenue gains for the last five quarters. Texas bingo and Premiere Tent & Events have been particularly strong contributors.

The trend of revenue increases has been as follows:

TREND OF
REVENUE Q1- Q2- Q3- Q4- Q1- Q2- Q3- Q4- Q1- Q2-
INCREASES 2004 2004 2004 2004 2005 2005 2005 2005 2006 2006
---------- ---- ---- ---- ---- ---- ---- ---- ---- ---- ----
LTFD Corp. (6%) (2%) 1% 9% 11% 10% 20% 17% 17% 21%
Entertainment (6%) 1% 15% 11% 10% 5% (1%) 14% 21% 18%
Hospitality (6%) (8%) (29%) 6% 5% 19% 90% 19% 10% 25%

The pattern of revenue increases which first became evident in Q4-2004 (absent only Entertainment in Q3-2005) continues to assert itself with another quarter of significant double-digit revenue increases.

NET INCOME
----------
Q2-2006 Q2-2005 Variance % Change
------- ------- -------- ---------
LTFD Corporation $606,867 $474,458 $132,409 28%
Entertainment 833,318 471,505 361,813 77%
Hospitality 236,325 46,241 190,084 411%

Net income was up by 28% which continues a nice trend from Q1-2006 when net income increased by 340% or $434,403. YTD net income is therefore up by 92% or $554,282 with Entertainment YTD net income up by a solid 64% and Hospitality net income YTD up by $184,354. This is a very solid performance for the first half of the year.

It is worthy of comment that Word of Mouth increased its Q2-2006 net income by 82% on only a 5% increase in revenue implying that the underlying revenue was managed at a greater profit margin during the quarter. We may be held hostage to the market to increase revenue but in many ways it is the Company's own efforts that improves profit margins.

Premiere similarly showed a 990% increase in net income on a 32% increase in revenue. This indicates that when Hospitality gets to a higher level of revenue it has been able to generate an increasing margin of profit as its internal overhead expense is amortized over a broader revenue base. While we have always projected that to be the case, this quarter proves that assertion.

Disregarding the charges noted earlier, the Company's net income for Q2-2006 was up by $747,468 and $1,161,868 YTD. Again, this is a very solid start for 2006.

Please note that the discussion of net income for Entertainment and Hospitality above more closely approximates "gross margin" as applied to those segments.

CORPORATE OVERHEAD:
-------------------
2006 2005 Variance % Change
-------- -------- ---------- --------
2nd QUARTER $333,985 $657,110 $323,125 49%
YTD 608,418 1,017,365 408,947 40%

The improvement in Corporate Overhead expenses continues to be driven by dramatically lower levels of legal expenses. Corporate Overhead in this discussion does not include depreciation of $26,247 and $21,783 of expenses related to stock options. This is consistent with past presentation of this information.

BASIC EARNINGS PER SHARE
------------------------

2006 2005 Variance % Change
---- ---- -------- --------
Q2 Earnings $606,867 $474,458 $132,409 28%
YTD Earnings $1,156,035 $601,753 $554,282 92%
Shares Outstanding 10,818,769 8,583,509 2,235,260 26%
Quarterly EPS $0.0561 $0.0553 $0.0008 1%
YTD EPS $0.1069 $0.0701 $0.0367 52%

Earnings per share for Q2-2006 are up by 1% in spite of a 24% increase in the number of shares outstanding over the last year. The increase in shares outstanding is primarily due to the recent 20% stock dividend.

Earnings per share YTD are up 52% and continue the trend initiated by the first quarter performance.

Jeffrey L. Minch, President and Chief Executive Officer of Littlefield Corporation, offered the following comments:

"The results for the Quarter were good, very good! This is a
very good start for 2006 and one that we believe will continue
for the rest of the year.

The improvements in Texas bingo -- Q2-2006 net income up by
141% and YTD up by 104% -- are particularly gratifying as they
represent the collective impact of many, many small
improvements and presage the results of the continuing gradual
improvement of all of our Texas bingo halls. In the past I
have at times described these kind of improvements as
'structural' in that they are based upon a sound foundation
and should continue at a sustainable rate. There is a very
high probability that these changes are, in fact, structural.

It is also important to note that Texas bingo is the core of
the Company's business and the health of this unit indicates
the health of the Company.

Hospitality had a fabulous quarter with a 411% increase in
earnings! Premiere Tents & Events led the way with a 41%
increase in revenue and a 990% increase in earnings. Word of
Mouth net income increased by 82%. Hospitality contributed
$236,325 to the Company's net income. This is a significant
contribution.

Thanks to all of our loyal staff who have worked so diligently
to produce a great second quarter on the heels of a great
first quarter. The future is bright and the promise of
repetition is high! Thank you!"

Earnings will be discussed in a conference call on Friday, July 28, 2006, at 11:00 AM CDT. Interested parties may participate by calling 877-407-6177 and requesting the Littlefield Corporation Second Quarter 2006 Earnings Conference Call.

Investors are always cautioned to be careful in drawing conclusions from a single press release, the Company's performance in a single quarter or the individual opinions of any member of the Company's management in making their individual investment decisions.

In accordance with the safe harbor provisions of the Private Securities Reform Act of 1995: except for historical information contained herein, certain matters set forth in this press release are forward-looking statements that are subject to substantial risks and uncertainties, including government regulation, taxation, competition, market risks, customer attendance, spending, general economic conditions and other risks detailed in the Company's Securities and Exchange Commission filings and reports.



Contact:
Littlefield Corporation, Austin
Cecil Whitmore, 512-476-5141
fax: [phone]
[e-mail]

--------------------------------------------------------------------------------
Source: Littlefield Corporation

[cmk2735]

Some very good news out on LTFD after the close on Friday. I'm not sure why they put on this news on a Friday afternoon- but it looks like they earned .03 in May alone. Should be a great Q2.

Littlefield Corporation Announces Substantially Improved Financial Performance in May 2006
Friday June 9, 4:35 pm ET


AUSTIN, Texas--(BUSINESS WIRE)--June 9, 2006--Littlefield Corporation (OTCBB:LTFD - News) today announced that its results from operations in May 2006 are substantially improved when compared to May 2005.
Highlights are as follows:

1. Littlefield Corporation revenue increased 55% or $493,268
($1,389,063 v $895,795). Entertainment revenue is up by 34% or
$179,209 and Hospitality revenue is up by $306,770 or 82%.

2. Net income for the month is $327,253 which is a $469,039
improvement. Entertainment improved by $136,886 and Hospitality
increased by $186,533.

3. Year to date net income (disregarding extraordinary and
non-recurring income and expense items for both 2005 and 2006)
is up $1,389,501 with Entertainment increasing by $608,013 and
Hospitality increasing by $173,028.

4. Corporate overhead is down $134,223 for the month and $243,957
for the year to date. The most significant element of this
improvement is the continuing improvement in legal expenses
($164,916 for the month and $271,701 year to date).

[NLionGuy]

I know @ one point the 3 brothers held 1 million shares. Now that I think about it, I believe I was told by someone that 2 of the brothers sold out long ago leaving George with his 333,333 shares. It's quite possible that he has subsequently sold by now also. At any rate, none of the 3 would be considered officers/directors or beneficial owners (holding more than 10% of the O/S) and therefore would not be included in that table.

[abh3vt]

How many shares do the Harrisons own? I could find no mention of any significant holders of shares other than Minch and the Deloney estate (from the proxy statement filed today):

 
  
   	 Number of 	  	  	  
   	 Shares  	  	 Number of  	 Percent  
   	 Beneficially  	  	 Exercisable  	 of  
 Name of Beneficial Owner  	 Owned  	  	 Option  	 Class (1)  
 Jeffrey L. Minch (2)  	3,023,298  	  	-0-  	 
  
  35.2%   
 Daniel Deloney Estate (3)  	821,584  	 (6)  	21,325  	 
  
   9.9%   
 Carlton Williams (4)  	48,700  	  	25,934  	 
  
       *   
 Alfred T. Stanley (6)  	3,000  	  	16,175  	 
  
       *   
 Michael L. Wilfley (7)  	2,600  	  	16,175  	 
  
       *   
 Troy Zinn (2)  	-0-  	  	-0-  	 
  
       *   
 Current executive officers and  	  	  	  	  
 directors of the Company as a  	  	  	  	  
 group (5 persons)  	3,899,182  	  	79,609  	 
  
  46.3% 
  
 

If either Minch or the Deloney estate decided to do something with their shares, they'd have to file a Form 4 (or at least a Form 144 or 13D). So far, nothing's been filed....

[NLionGuy]

The thing that I find interesting is this. He was actively buying up shares for the better part of 3 years but then suddenly stopped 2 years ago. Now after the price has nearly tripled he's going to become active again. Hopefully his crystal ball is clear and not rose colored.

He indicated in the CC that there was a seller recently - it could be the Deloney Estate or even 1 of the Harrison Brothers. I believe they were the largest holders next to Jeff.

[gilead23]

abht yes noticed that

As I interpreted it there is a huge net purchase regardless of whether those shares are sold within a year of acquisition.

You are still talking about a million shares purchased most of which are not being sold.

BTW I have been trying to get an answer from the company on any potential interest charges related to the Collins matter. Cecil Whitmore was supposed to get back to me yesterday.

I am a bit annoyed with them that they haven't given me a definitive response but other than that I am still pretty bullish.

[abh3vt]

Thanks, NLionGuy.

There are mixed signals here. On the one hand, Minch wants to do some estate planning and thus will distribute shares to his wife and kids. The 300k shares that his kids will inherit will presumably be sold immediately upon distribution. We won't know until a Form 4 is filed notifying investors of that move.

At the same time, he wants to purchase shares on the open market in order to acquire up to 50% of the company? Maybe he's aware of some more selling pressure in the future? The stock has nearly tripled in the past few months, and will also face tougher y/y earnings comps in the next two quarters due to one-time income items.....interesting to see how this plays out.

[NLionGuy]

According to last year's proxy:

He lives with his wife, Kathleen, and their three children in Austin, Texas.

If they're going to be sold within the year, maybe we need to find out out where the oldest plans on going to school(and the cost) to get an idea where he expects the price to be @ that time. :)

[abh3vt]

There's a little bit more in that 13D filing...

"As part of normal estate and investment planning, I intend to distribute up to 600,000 shares as separate property to my wife as well as relinquish any control over an Individual Retirement Account of which she is the beneficiary and which currently holds approximately 27,300 shares of the issuer.

Upon this distribution, I will have relinquished all control of any kind whatsoever over these shares. This distribution will be made shortly after the payment of the share dividend recently announced by the issuer.

I also intend to distribute approximately 100,000 shares to each of our children to be placed in trust for their education and welfare. I will continue to exert full control over these shares. It is intended that these shares will be sold within one year of the trusts being created. "

Anyone know how many Minch children there are?

[NLionGuy]

Minch has filed a form 13d today:

I intend to acquire in excess of 50% of the issuer’s outstanding common stock in transactions priced at levels I find to be attractive. It is anticipated that such purchases will be open market transactions and I may utilize financing. I may, from time to time, dispose of shares of the issuer.

He presently holds 33.89%

[gilead23]

abhvt margins et al

First sorry no PM but I am a bit cheap. I don't mind doing things out in the open anyway. It benefits me to say positive things and as far as negatives when I am disappointed I say it like it is out in public.

re: a large seller. This was from the CC and he said something about a large shareholder having sold some shares.

It undoubtedly is not a holder who falls under sec rules. I don't have much reason to doubt that nugget because

1. I tend to think the CEO is honest
2. More important. It doesn't benefit him to tell people someone is dumping shares.

I looked at this comment as the one real negative from the CC.

As far as rev's you are right that the mix will be different and margins lower in Q2 however revenue should be substantially higher and hospitality traditionally has higher revenues and net profits in Q2.

So I think what will happen is you will see lower margins on higher revenues but the bottom line net pre extraordinary items should be better.

He mentioned on the CC that they had hired a couple people in hospitality in anticipation of improved business going forward. Those could be expenses in Q1 that won't have any benefit until Q2. In any case hospitality is the laggard I would like to see them get rid of it but at least for next quarter it should be making a much stronger contribution than this quarter.

I also like the more aggressive efforts they talked about to add new halls and the possible addition of gaming machines in texas. They also mentioned expanding to new states including Illinois and Florida

If they are currently reviewing 6 possible candidates for acquisition they could wind up growing their sites by 15-25% over the course of the year.

As always legal expenses are the wildcard. They seem to have been higher in March vs Jan/Feb and my guess is timing on these is lumpy.

[NLionGuy]

gilead,

3. A question was asked about gaming machines being added as a new source of revenue. He indicated they are reviewing that and we shouldn't be suprised if there is an announcement in the next 90-120 days that they have added gaming machines in texas.

I copied this from your post on another board but prefer to comment on it here. I haven't taken the time to listen to the call as yet, but if that's true, that could be the biggest news to come out of it. Even a limited # of machines in each hall could bring in very big bucks. One caveat - hopefully it will be under different circumstances than what happened in S.C. where they are still feeling the after-effects in the form of all these legal fees. Evidently there is "noise" again in the Texas Legislature to make them legal in bingo halls.

[abh3vt]

Thanks. I've sent Minch an email asking my questions. Will let you know what I hear.

[gilead23]

abh3vt revs

From what I have seen it looks like Q2 is the best. That would make sense with wedding season being may/june Q3 is number 2 and by far Q1 is the worst.

Didn't get a chance to ask anything else. My email was already sent and I missed the call because I was in a meeting.

I very much want to hear what was said though.

[Rawnoc]

Here's my PM for the public....I agree that LTFD is probably still undervalued, but....

LTFD problems next quarter...

1) One-time charges related to the lawsuit decision. While the original amount was already accounted for, the interest isn't. And it's 12% per year which is a significant sum.

2) "Net income improved by $453,802 (356%) to $581,389."

"Littlefield Corporation experienced a $316,000 increase in Net
Income for February 2006 contributing to a YTD 2006 Net Income
increase of $445,000."

Jan & Feb improved $445k, while March improved $8k?

Looks like Jan & Feb were a fluke. Or March was a fluke. What really bothers me is they knew how March went yet hyped the results of Jan & Feb. March is closer to the seasonally stronger Q2 yet it was basically flat in terms of income.

[abh3vt]

Gilead, can you also ask about the revenue mix going forward? What is the greatest quarter for hospitality revenues? Thanks...

[gilead23]

hey rawnoc

Got your email but I don't have PM. Funny my concerns about the Q are similar to yours.

A couple things to keep in mind. I believe Jeff told me legal for jan-feb were 27k although I don't remember for sure. That would imply significant backweighting on legal expenses which may have skewed results.

Actually on further review I think thats definitely the case. The core business was about 50k better in march but overhead was about 40k worse. So March wasn't as good as march/feb but I wouldn't say a 100% improvement is bad.

I think there are clearly erratic month to month fluctuations in results. +100k for jan +345 for feb and possibly a small improvement for march. I was obviously wrong in guessing jan-feb indicated accelerating improvement. Since there seem to be fluctuations I am inclined to look at the quarter as a whole.

I have a question out for the CC on some of these items. It will be interesting to hear what Jeff says.

Still very impressed with the .065 in earnings. Its not the absolute blowout report I wanted but I think it deserves a significant premium from todays price.

[gilead23]

Big suprise today

Never thought I would be able to snatch up some more shares around 1.40.

I am thinking more and more we are looking at .09 for this quarter. The better of the 2 month results reported was in february. Given their recent momentum in results I am inclined to believe the february results were earnings momentum that gained steam from January. To that end taking the conservative improvements for march and guestimating earnings improvements of the average of jan/feb you get about 220k improvement and earnings of a quarter million for march.

That makes me want to put a floor on earnings of about 685k and a ceiling of about 940k. Unless something is seriously being missed here wednesday is going to be real exciting.

[Rawnoc]

1) This judgment WAS for penalities (punitive damnages). The actual damages were long ago paid. However, filings say 12% per year simple interest will be due.

2) Only realistic option of negotiation is a payment plan, as in the past, and mentioned in the filings as something expected.

Your REIT theory is interesting. It does seem like there's some juicy hidden value they're sitting on (literally) with some of these properties given the gain they got last year for one of them.

[StevenRisk]

After losing this amount in the Collins case my question to you rawnoc is 1)do they have to pay interest and any penalties in the past? 2) Is their anyway to negotiate outside of this legal judgement? I really susoect LTFD continues to grow and JM turns this into a REIT and pays off a hefty dividend from the cash flow. This man would be able to do this and continue to leverage the growth as most halls turn profitble almost immediately/ or already cashflow positive.

[Rawnoc]

It was news that they simply lost their 3rd appeal attempt (after losing the first 2 appeal attempts) to try to over turn a lawsuit they has already lost and already accounted for on the balance sheet.

It's a non-event pretty much other than as you said the case being behind them which also means even less legal fees.

[StevenRisk]

Todays news with the Collins case is not good news other than the sense that this lawsuit is behind us. Don't know what they have to pay but I believe it is a few million.

[Rawnoc]

LTFD... %3 to $5 imo, yes I was on the TTGH board, but I haven't even glanced at it in many months so have no idea about it these days, sorry.

[StevenRisk]

rawnoc, where do you see LTFD going price wise? Weren't you on the ttgh board at one time? Also what are your thoughts on that one? IMO, we see atleast $3 on LTFD within 0ne month and about .08 in Q1 earnings.

[Rawnoc]

Earned .23/share in 2005, has a $1.00 book value, and only trades at $1.50. 2005 included a lot of legal expenses which won't happen in 2006 as most of the matters were settled in 2005 with the remaining bits settled in Jan of this year. Earnings will be out April 19. LTFD already pre-announced Jan & Feb's income numbers citing an increase in net income of $445,000 or .052/share.

http://biz.yahoo.com/bw/060327/20060327006030.html?.v=1

Last year they reported .015/share + .052 = .067 going into March if they merely match March last year. If March shows similar increases to Jan & Feb, it's possible LTFD will report .10+ EPS!

At .067, annualized is .27/share. A PE of 15 or 20 would yield a stock price of $4.05 or $5.40!
At .10, annualized is .40/share. A PE of 15 or 20 would yield a stock price of $6 or $8 a share!

What's particularly encouraging about these numbers is that this is a seasonally weak quarter for LTFD! Also, April 5th PR..."the Company has either repaid or intends to repay approximately $1,000,000 of additional debt during the first two quarters of 2006."

OS: 8.59 mil
Float: 4.65 mil
Book: $1.01/share