More SNMM FACTS posted on RB:
By: yorktown
Reply To #9505 by Trifecta
Sunday, 14 Mar 1999 at 10:34 PM EST
Post # of 9658
IGBE Show - Talked with Dholen!!!
I was at the show on Friday in Vegas. The show was for the most part tiny. Starnet has 2-4 other competitors that liscence
technology. The biggest competitor was BOSSMEDIA, that charges a whopping $500K up front to start up an on-line casino.
Because of this, Starnet rakes in more liscencees over a shorter period of time, requesting 50K up front and a %age of the take. The
other competitors are fairly new and small (GrandVirtual was one of them: a bunch of MIT kids from Boston). One had zero (0)
liscencees.
If you got money to start a biz, an online casino is the way to go. Starnet's liscencees put out $250-500K to start the site, with a
return on investment in 3 - 9 months (most within 6 months). One guy is raking in over $1 mil in revenues/month.
Dholen: I was very impressed. The guy is charismatic, very energetic and knowledgable about the biz. I was concerned with the
server being in Anitigua: If a big wind (hurricane) comes by July-Oct and knocks the roof off of the building, knocking out the power &
shuitting the server, then SNMM was in trouble, right? Wrong! They put a bakcup in St. Kitts and plan to have another in another
geographic region of the world. Also, the server in Antiugua is in a building built by a major cable & telecom co (forgot the name) and
was built to withstand hurricanes. They also have generators in the building.
Takeover: No CHANCE. Math of shares (below) prevent it and a poison pill clause is written in the company by-laws.
Shares: This was WRITTEN down to me by Dholen:
Owners : ~10 million (as a single block)
Options : 2.5 million to employee
Warrants : 2 million ($2 before 12/31/99 for employees)
Warrants : 2.5 million ($4 before 12/31/99 for employees)
Float : 13 million
-------------------------------------------------
Total shares: 30 million
As for what's going on: Another major sports figure is going to be announced as a liscencee. Sexsites will be sold soon. Starnet is
way ahead of their sales forecasts on liscencees.
ANOTHER MAJOR POINT: UBET is screwed!!!! I was told one of Starnets liscencee's registered www.ubet.com as his URL (which
is now a casino STARNET gets revenue on and not UBET)!!!! In order for U-BETs gamblers to bet, they have to type
www.you-bet.com - (based on this...UBETs STOCK should CRASH soon)
Languages: Starnet offers the casino in 7 different languages. 2 more are coming (including HEBREW).
NYC Visit: If you're not an analyst or major stock firm, forget about going. The room is overbooked and Dholen wants these guys ears
only. Basically, the goal is to tell the Starnet "Story" about how it started, where it is and where its going. The company is not looking
for cash. Once he's got their attention, he expects the stock "to have a zero at the end of the number."
After seeing them, talking with their competitors, and getting a feel for the whole business, I'm more than convinced this stock is
WAY undervalued. Net gambling may be banned in the US soon, but it is here to stay in the world. |
