Chart does look good. But I have some questions.
From the SEC report.
"The Company is developing the software to
facilitate off-site betting transactions through ATM
cards or smart cards. The Company will act as the
interface that will communicate data to the gaming
operators, receive back their acknowledgement of the
transaction and then pass on the gaming
acknowledgement to the customer and the bank host
processing center."
1) Does this company have any customers?
2) Is this software for sale?
"The Company to date has not received any
communication from the SEC with regard to these late
reports."
I haven't seen an update yet.
3) Is the SEC matter resolved?
"On August 19, 1999, a Canadian
investment firm threatened to file suit against the
Company in connection with providing certain funds to
the Company in the amount of $500,000 in connection
with debenture monies received subsequent to
December 31, 1998 (funds received were $417,500, net
of a $82,500 fee). The Company intends to vigorously
defend any such action and to pursue applicable
counterclaims under federal securities laws and
regulations. Because no formal action has been taken
on the threatened litigation, Company counsel is not
able to opine on the matter. A liability of $500,000
was recorded when the funds were received and is so
included on its 10QSB filed for the period ended June
30, 1999."
4) Is the lawsuit resolved?
"The Company entered into an agreement to lease an office facility on a month-to-month operating lease beginning June 15, 1999. The actual base rent is $1,475 per month"
5) Why month to month? As a manager in IL, we do five year contracts.
6) How many employees do they have. Looks like three from the financial data.
The PR's are good but many BB stock's are. The PR's and the SEC filings are like reading two different books. Company has links to Nevada. Too many BB busts are from there. Nothing on Hoovers which is odd. I'll watch this for a while to see if it does another jump and a collapse.
Jack
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