Littlefield Corp (LTFD)

[gilead23]

You aren't seriously suggesting they should base their reserves on the effect on the stock price are you? Thats an Enron approach.

The idea is they reserve what is correct. As I see it they got very lucky with a gamble that they could negotiate it down.

I agree the way they dealt with the lawsuit was reasonable but I don't see how the level of reserves were. They were extremely lucky to get it even that close. We are probably just going to disagree on this.

Its highly unlikely LTFD will ever attract big investors because the market cap is to small for them to bother. On the other hand they don't need it for large price appreciation. As I said they tripled the share price without it. Beyond that I can think of a number of 5 and ten baggers (recently TGIS comes to mind) with tiny floats. In fact low float mania is all the rage nowadays.

Im not criticizing Jeff's general performance. I have to say overall they have done a great job getting the house in order. I basically have 2 concerns

1. Where is the growth going to come from
2. How much can we trust the numbers given a steady stream of accounting problems.

I get the impression you spend as much time around microcaps as I do and if so I would have to believe you are very sensitive to any hint of accounting issues.