S.W, I had a chat with Andrew Thompson, IR for EVCM. Here is my understanding
Website: e-vegasgaming.com.
1) Confirmed that O/S is 16.1 Mil and Float 5 Mil....
2) Recent PP for $1.75 Mil (about 70 cents/share) took place, so there is plenty of cash to accomplish what they plan and no significant debt...
3) Financials and 10SB by end of October... Audit is nearly completed... Company policy is to inform and be open to shareholders...
4) Top notch Management include Sid Diamond who used to do the Sport Books wagering for Circus Circus... Currently wagering is averaging $100,000 per day and is expected to eventually reach about $250,000 per day when in full swing
5) EPS for the first year of operation (starting July 1999) is projected to exceed the current share price of 62 cents, from on-line Casino, Sport Book and Telecom operations...
6) Telecom subsidiary: as they established a satellite down-link with some 256 trunk line capacity, they discovered they could retail their surplus broad band Telecom capacity to large existing Corporations in a very profitable manner...
7) Last two Press Releases:
biz.yahoo.com
biz.yahoo.com
Conclusion: My general impression is that we have here a real Company, not a P&D, employing some 30 people in Costa Rica, that would appear to be currently under-valued... Obviously, some serious DD is needed to confirm all the above information which should be considered only as a starting point... Another PR is expected next week, that will further delve into the Company's future plans and potential...
S.W, I think this Company should be considered for the Index...
Regards, F. Goelo + + + |
