DD is actually pretty easy to come by. Here is some help:
1) go to cathayonline.com and click on Q/A and the other links
2) Call WorldVision Financial, their PR firm, and ask for a full report on CAOL or ask for info via the CAOL website above. see the CONTACT INFO AT THE BOTTOM OF EVERY PR.
3) Read the historical posts here and at ragingbull.com
Much more active board
In answer to you question, again, the kiosks that they have purchased so far are already in place. They are already generating modest revenue. This is just the start of things. Long ways to go before the bulk of the kiosks are purchased and generating major revenue.
They have a license from the Chinese Government to operate the kiosks as lottery machines in Guangzhou province and Guangdong city, which has about 8-10 million people. The goal is 200 kiosks over the next year or less. Check out the Press Release below:
(COMTEX) B: CathayOnline Acquires 5 Lottery Kiosks in China
B: CathayOnline Acquires 5 Lottery Kiosks in China
NEW YORK, Jul 21, 1999 (BUSINESS WIRE via COMTEX) -- CathayOnline Inc.
(OTC BB:CAOL) has acquired another 5 Online Lottery Kiosks in
Guangzhou, China. These Online Lottery Kiosks are in addition to the 3
kiosks acquired earlier this month.
These 5 newly acquired Online Lottery Kiosks are part of the
approximately 50 kiosks the Company has projected it will acquire in
the next six months. When fully operational, these kiosks are expected
to generate in excess of US $450,000 net annualized income (Earnings
Before Interest Taxes & Depreciation- EBITDA).
The second phase of the Company's plan calls for the acquisitions of
150 additional operating Lottery Kiosks in the second half of the
Company's fiscal year. When this phase is completed, the total
annualized net income (EBITDA) is projected between US $1.75 million
and US $2.25 million.
Lotteries in China are still in their infancy with only 6% of the
population having indulged in Lotteries compared to 85% in the United
States. Once significant market penetration has been achieved, China's
immense population of 1.3 billion has tremendous growth potential.
This project confirms the focus of the Company to engage in business
that provides significant cash flow opportunities and established
management.
On Behalf of the Board of Directors Brian Ransom, Director Statements
included in this press release which are not historical in nature, are
intended to be, and are hereby identified as "forward-looking
statements" for purposes of the safe harbor provided by Section 21E of
the Securities Exchange Act of 1934, as amended by Public Law 104-67.
Forward-looking statements may be identified by words including
"anticipate," "believe," "intends," "estimates," "expect," and similar
expressions. The Company cautions readers that forward-looking
statements, including without limitation, those relating to the
Company's future business prospects are subject to certain risks and
uncertainties that could cause actual results to differ materially from
those indicated in the forward-looking statements. |
