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Frank Pembleton

11/04/03 9:48 PM

#4528 RE: loantech #4485

Tommy ... was I'm seeing is the potential of a flagpole rally-- nothin' written in stone ... and as I said in the past the biggest problem with this company is its lack of liquidity combined with the management intent on running this company like a private firm. My biggest fear with holding as many shares as you are is the possibility of a distressed seller(s) having to raise cash like a bastard and pounding the living daylights out of the price. My own psychology suggests personal devastation-- I dunno; maybe you're tougher than I? Fwiw, I normally gauge the size of my position by my own ability to get out-- and in this case I'd be hard pressed to want to own anything more than 4-5 thousand shares.

Anyway, here's what my Ouiji board had to offer tonight.