For those not already aware, Starnet CEO, Mark Dohlen, held a conference call at 4:15 this afternoon. There were approximately 150 participants, including a representative of Lehman Brothers and representatives from a number of other major brokerage houses and securities publications. The following is a summary of the conference call as posted on RB by edtarter, an RB regular and significant shareholder in SNMM, who participated in the call:
Highlights of conference call - my observations...
21 licensees signed up...but several more in pipeline
horseracing wagers within a few weeks, followed by Lottery tickets. A German site with much less capability, little in the way of live
content, (e.g. need to use e-mail) had 300,000 wagering accounts after only 90 days
The Kyl bill, which may exempt horseracing, actually could pave the way for acceptance of U.S. wagers, and that would be a bonus.
Are you considering a stock split? A. only if the price gets too high to allow the average private shareholder to participate, e.g. $50.
We could then split so that smaller shareholders continue to have access.
Question re: e-commerce. A. We now deal with several banks (offshore), there is a niche market for our applications, but our primary
focus right now is i-gaming. Down the road this will achieve greater prominence (my words).
Question: How do you compare to your competitors?
A. We have a fuller suite of products, e.g. i-gaming, sportsbook, horseracing etc., also provide a turnkey operation at lower entry cost
and lower royalty cost. Market share will take us to the top.
Question: Impact of Nasdaq? A. None on operations. It will allow a new level of shareholder to participate (some mutual funds etc do
not allow purchases of BB stocks).
Mark: We are considering moving our registered corporation (Delaware) to a more favourable tax jurisdiction. We are in a process of
due diligence right now. This would have a favourable impact on earnings.
Question re: analyst coverage: A. Interest now being shown from several major firms and independents. Meeting in N.Y. designed to
further interest in analyst coverage.
Mark: Working on Cantonese version of Pachinko site.
Question: Are you considering acquisitions?
Answer: We are founders in an industry, have developed our own software etc. There is no one in the industry right now that would
warrant an acquisition on our part, so we will grow internally for the time being. |
