LFSI i agree and i'm in fwiw Posted by: BuzzOnDaBeach
In reply to: None Date:6/10/2004 2:16:27 PM
Post #of 74446
I don't think I've ever seen a nosedive in a stock quite like LFSI, with no dilution. 2.00 to .03 in less than 6 months. However, I did a bunch of DD on it last night, the volume yesterday caught my eye. It was interesting because several of the names in the filings were familiar. Turns out all their financing came from old amex friend RCG. The CEO of RCG made a personal loan to LFSI, and RCGI owned 16 million, so I went to the RCG filings. They are in the process of "disposing of all assets related to LFSI", meaning selling 16 million shares, approx. 75% of the OS. They took the write down in their last Q report. They stated LFSI was basically incompetent at running a business, lol. The most recent LFSI news was their acuisition of a co. in Baltimore. This is a franchise they sold two years ago that they reacquired for much less. Anyway, may have a bounce in it at some point. Just a heads up.
Buzz
This is not a reco to buy! Please do your DD!
