Mr. Cash,
I would be more than happy to respond to both your most recent post and your post #5665 in which you posed your concerns. I will start with your post 5665 first.
You stated (rather than asked): "1. UNABLE to deliver WINNERS Card, which is the WHOLE freakin reason we are in business."
My Response: If it is your understanding that the WINR Debit Card (Which is actually a CMS venture not WINR's) is somehow the foundation of the company you are sorely mistaken. If you go back and check my historical posts I believe you will find almost from the outset I stated that I did not expect the Debit Card to be issued until the E-commerce side of the business was up and running. Namely shoppingdowntown.com . Why did I feel this way? Very simple. Of what use would the Debit Card be too most online gamblers? Not until, or if, the WINR Debit Card becomes accepted for transactions in brick and mortar outlets as Visa and MC are, would it be anything more than an ATM Card! Now I haven't used an ATM Card for many years but the last time I used one I remember there being a $200/day maximum withdrawal from any account. If I am a gambler, say like the one earlier this year that had problems getting his check, if I had the Debit Card what would I do? Go to the ATM machine and withdraw $200/day until I had my $5000. I don't think so. This is why there were so few applications by the gamers (and investors) using the system. It has very limited applicability in this venture. This is why I never applied for one because the results that occurred are what I expected, namely not enough applications to make it economical. Now when the banking and E-commerce ventures are up and running I believe strongly that the cards will be in high demand. Why? For the same reason most people have an ATM card with their bank. Easy access to sizeable amounts of cash without having to visit the bank (which is obviously impossible with an Internet bank). So as David explained, I will expect this issue to be re-visited and come to fruition when the banking and E-commerce system is functional at that point every account holder will want one for instant access to cash from time to time. Do I think it was a mistake to have even taken applications and touted the product so early? HELL YES! Perhaps they wanted to run a statistical test on demand in the gaming sector, but it was a bad idea to initiate it then never respond to the small amount that did apply. But as far as the gaming pay-out side goes I feel that they have made a wise association with the Western Union Quick Pay wire system for what should prove to be the quickest pay-out system for gamblers in the industry. Other large investors beside yourself have indicated their concerns on this issue, so you are not alone. Hopefully this explains why I consider it a non-issue until they get their E-commerce and Banking ventures up and running.
You Stated: " 2. Great PR such as WINNERS is in double top secret talks to develop double triple secret software....
I too, on many occasions, have wondered about whom exactly writes their PR's. This is something I haven't asked David that I wish I had. My problem is with the ambiguities and generally poor writing skills along with trying to jam too much into one release. I don't have a problem with the non-disclosure agreements. I come from an industry where keeping information "tight" is of paramount importance to future success. In the technology area it is the same way. Here I have to trust the management, which I do so only after researching them and their backgrounds. Let me just say I personally am comfortable that management at WINR is of very high integrity therefore I am comfortable with these types of explanations from them. Am I happy that I don't know EVERYTHING that is going on? No! I would love to know. But, again I understand the necessity for secrecy at this point and have faith in the integrity of management to handle these matters prudently. And as for their IR consultants CFG, if you have been reading my posts for long, you know I have quite often and publicly stated my criticisms of them. I have also made my displeasure known to Mr. Skinner.
You Asked: "What is our business model Du Jour"
My Response: In/out Debit processing for banking, E-commerce, gaming and basically any form of commerce that involves money exchange of similar or dissimilar currencies on the Internet! Pretty simple and I believe David explained it well in his response to questions last week.
You Asked: ""Winners earned .01". Hell if you aren't going to give us anymore than that and there is no way to verify than make it good. How about WINR earned 100.00 a share for the quarter."
My Response: I too was very disappointed that they only released an earnings per share statement concerning first quarter financials. I was also very disappointed that they hadn't filed with the SEC by May 15th to become fully reporting. I was also the one who called the SEC to voice my complaint about the wording of the release that stated that WINR was in the final phases of SEC filing. Causing Mr. Skinner to post the retraction clarifying that statement with a follow up release indicating that they were in the final phases of preparing their filing papers and had actually filed nothing with the SEC yet as their release made it sound. You see Mr. Cash I am proactive when I am not pleased. I don't bitch and moan on a thread. I call the company and the SEC, if necessary, to effect change! If it doesn't get handled to my satisfaction I am gone! As you can see I was not happy about this issue either. What did I do? I bent Mr. Skinners ear damn hard on the fact that I expected these things to be taken care of ASAP. I did not ask for in depth reasons for why the financials were released in the fashion they were or why filing wasn't complete yet for I as well as he realized it would likely involve proprietary information. It is my opinion and my opinion only that the reason detailed financials and filing have not been completed earlier is that to do so would have meant exposing entities and agreements that needed to be kept confidential at that time. As for your statement of why not $100/share, I can either assume this is simple frustration, or that you would rather he lie for a short-term advantageous stock price.
You Asked: "5. Next year, why not hold our shareholders meeting in July in Antarctica."
My Response: More sarcasm! I hope to have a representative attend the meeting in Vaduz. If not, I will likely schedule an appointment for him in August to visit their facilities and meet with the principals. Also, Mr. Skinner informed me they were going to ATTEMPT to make the shareholders meeting an interactive event on the Internet. That is to say, you will be able to listen in live on your computer and ask (type) questions during the meeting from your lazy boy. I re-iterate he used the word ATTEMPT! Either way I will be covered. Why? Because I do what it takes to get answers! I don't sit around wondering. I make calls and talk to people who know more than me on many issues. That's how I learn. That is why I am comfortable with WINR at this point in time!
You Asked: "6. Hey Skinner, if things are so rosy than why are you selling now?
My Response: Now here is where you really got me hot Mr. Cash. Warren Buffet once said, "Investing is like poker, if you've been at the table for 15 minutes and you don't know who the patsy is, your it!" Well Mr. Cash, I am a poker player and I assure you before I sit at a table I try to become as familiar as I possibly can with my opponents. That is why whenever someone new enters a discussion thread I am posting on I review his/her history. This is what I know about you. You are one hell of a good trader/investor! You often take on some of the biggest names on the Internet and kick their butt. You have an excellent understanding of both technicals and fundamentals. And, you know how to play both sides (short and long) of the market for both profit and protection. In short you are very good and experienced. For such an experienced investor as yourself to make such a statement, as the one above is the equivalent of a bald-faced lie! You know damn well that a 144 filing (called an "intent to sell") is nothing more than required SEC paperwork insiders must file to even have the "RIGHT" to sell. Also you realize that just because a 144 is filed (which gives the filer a 90 day window only to sell in) does not in any way mean that the filer is obligated to, or will sell in that period. You are also aware that it is common practice, and only prudent, of all insiders to always have some shares 144 filed in case a selling opportunity presents itself. You are also (or should be) aware that the insiders stock is just now coming out of restriction period and this is the first opportunity that they have even had to file. You are also aware that the 50,000 shares he filed, represents around 1% of his holdings in the company. You should also be aware that, like Ms. Varney who filed I believe 70,000 shares; other insiders will begin to file. For as I say it is only prudent. I personally see these filings as a VERY positive sign. Why? It indicates to me that they are expecting a possible appreciable price increase to sell into in the next 90 days! If they were convinced that prices were going to stay this low why bother filing at all? Especially such a small amount! Mr. Skinner and management have busted hump for 3 years now getting this venture up and running. If he wants to sell 50K into momentum power to him, he deserves it! But for you, as experienced as you are, To make the inference that he is selling out is a pile of crap! Lets see if he does sell that lot and, continues at that rate. It will only take him oh 25 years to finish dumping. I can only ascertain, judging by your experience, that this particular comment was meant to do nothing but create the illusion of insider selling (dumping). The most feared words in any inexperienced investor/traders ears. And you know damn good and well it is the furthest thing from the truth. Now you know partly why I question your current motives.
Now, in response to your most recent post #5685. No I am not a lawyer nor have I ever been in the military.
I believe you are well aware that what I was attempting to do, and what you have avoided. That was to get you to admit on this thread that you play the short side of the market. Further, what I was pointing out was that by your own parameters you explained on another thread, pertaining to "when" to short a stock using the 50-day MA and price action as a short-signal. These parameters appear to have been met on the stock I questioned you about which is why I was inquiring if you had shorted the box. Also, it appears to me (and I am no technician), that by your self professed parameters WINR met these qualifications in mid-June. Having recovered from below the 50 day MA to a secondary lower peak, then falling back to just below the 50 day MA. I believe you indicated in your explanation that this could indicate that the stock could "fail and really fall apart". Oh hell here it is.
To: oilbabe (239 )
From: Jim Cash Tuesday, Jun 22 1999 10:51AM ET
Reply # of 266
Selling is over ??? Quite often a stock that breaks down below it's 50 day rallies back only to fail and really fall apart.... 34 is the 50 day, the next 2-3 days will tell the story here. If one was to put on a short, this is were you would do it...
Now, by coincidence, after having been very bullish through April on WINR, you somewhat disappeared. Only to re-surface June 24th (a few days after my interpretation of your short parameters were met) with a bee in your bonnet! What would you think? Obviously I thought you had sold your long position and taken a short! I want to make this VERY CLEAR. I don't give a flying flip whether you or anyone else is short or not! I too play both sides of the market. Anyone that doesn't acknowledge that both sides are lucrative and legitimate investment/trading avenues will not be very successful. What does get my hackles up is when we get the obvious build up of negative sentiment over the course of a couple months that comes to a head like it did today. With the exposure of numerous individuals posting under numerous aliases, on numerous sites, running a campaign of "of the sky is falling" mass postings. Using fear and doubt to try and scare people out of their long positions in what is by all appearances (and I have obviously done much more research here than you) a very fine up and coming company. Mr. Cash I am not accusing you of anything! I believe you when you say your long and PO'd. But I believe if you stepped back and took a subjective look at what, when, and how you've posted; combined with your own unwillingness to research the company well enough to have a vague idea of what your invested in, you would reach the same conclusions. Why am I posting this? Because I am sick and tired of seeing the little guy, the 100-10,000 share people take unnecessary losses because of the unethical, deceitful, and immoral acts of those that would put the value of money over that of decency and fair play. And make no mistake it is the little guy that is getting clobbered here. The large longs couldn't sell on this thin volume even if they wanted too. It would drive the price to nothing. Mr. Cash you and I both know there is only two reasons for the bashing and slamming this stock is taking. Those being 1.) Shorts trying to cover cheap and 2.) Opportunists that wish to acquire a cheaper long position. Either way it adds up to bashing to BUY! I have stuck my neck out here for a long time, and I realize if for some unforeseen reason this venture fails many will blame me. But, I will at least know if that is the case it won't be for lack of honest, long, hard, tedious hours of work to scrape up every detail I could find to present in an honest and open format. I suppose it is easier to yell the sky is falling to make the stock fall, or to indicate I have inside connections at MSFT that indicate they will buy WINR in a week to make it rise. But that's not my bag! And by the way I am only blindly loyal to two entities, My God and my family! If WINR ever gives me a good hint that they are anything but on the up and up I will be gone. I am still here and haven't sold a share, and unfortunately the MMs haven't filled my orders the last two days at 1 3/16 and 1 1/8. Mr.Cash if you're short just say so, you won't catch flack from me. If you're long, I have but one piece of advice. Even a dog knows better than to defecate where it sleeps. As always....
Best Wishes,
Swedelo
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