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croinvest

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croinvest

Re: None

Monday, 05/14/2007 11:07:37 AM

Monday, May 14, 2007 11:07:37 AM

Post# of 17378
From Jay Wright:

My Questions:

1) ProGames merger with Winning Edge. Proceeding according to the plan?
2) Kite IPO. Still working with BB&T? End of May still a reasonable deadline for something firm on the IPO?
3) Why don't you pay Cornell in cash? At least a few weekly installments before you accomplish some of your strategic alternatives.

His Answers:

1) The Progames deal is not yet closed. Certain closing
conditions including SEC clearance of the 14C and financing
have not yet been completed.
2) Still working with BB&T on Kite. We will announce things
as they are completed.
3) We are seeking to preserve cash for operations.

"Perhaps we should have a list of companies that the rule of law does not protect," said Patrick Byrne, Overstock chairman and CEO. "Oh wait -- we already do! It's called, 'the SEC's Regulation SHO threshold list'."

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