Investors reacted by trading the share price down 35% from a 52-week high of $15 on Tuesday to Thursday's close at $9.75. The drop occurred on the paltry volume of 1,300 shares, however, as 94% of the company's stock is held by insiders who've traded a grand total of 11,000 shares over the past six months. The company's 52-week low share price is $6.50, which occurred on Feb. 3, 2000.

The company's income is derived largely from the sale of buildable lots and the company's Meadow Pointe project near Tampa, FL, says BF vice president Douglas Post. Currently, the real estate firm and is subsidiaries are engaged the development of two large tracts of land - Meadow Pointe and Wesley Chapel Lanes, also in Florida. In addition, BF Enterprises is the owner and landlord of a 228,000-sf structure in Arizona and currently owns 21 acres of undeveloped land in Nashville, TN that they are in the process of preparing for a future sale, says Post.

Through the first nine months of the year, profit totaled $1.30 million, or 35 cents a diluted share, on revenue of just $3 million. Through the first nine months of 1999, profit was $2.97 million, or 76 cents a share, on revenue of $4.45 million.