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Non-Tech : Starnet (SNMM)Online gaming, sexsites, lottery, Sportsbook
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To: Uncle Clive who wrote (7456)9/15/1999 3:54:00 PM
From: Techplayer  Read Replies (2) of 8858
 
UC, Starnet said that this quarter would yield these results as there was a front loading of fees for several new licensees last quarter yielding higher than normalized numbers. Starnet also said to expect these earnings (flat is what was said). the only thing that was not predicted i believe is the number of overall shares. Starnet said last quarter that it takes 6-9 months to get a licensee up to profitability. the revenues this quarter will show a marked increase, imo.

regarding the bank accounts, that is a surprise. There is an ongoing effort to unfreeze these assets. It seems extreme given the data that the RCMP has published in the application for a search warrant. I am more curious right now as to whether the appeal has been heard by the courts to end or alter the restraining order on the accounts. If os, Starnet will operate fine on its remaining assets but will need to postpone some growth plans for several months or until assets are returned.

Brian

Brian
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