The latest from Pro Trader Alert:
PRO TRADER INTELLIGENCE ALERT
Flying Disc Entertainment (FDCD:CDN OTC)
26-Sep-97 Close: 0.29 CDN Volume: 367,100
The story keeps getting better, and the stock continues to inch upwards.
As I pointed out in the last ProTrader Alert, volatility in the stock is
slowly disappearing as smart money continues to aggressively accumulate;
witnessed by nearly 3 million shares traded last week. The price is slowly
inching upwards, now only 4 cents from it's old high; and the company has come
a lot farther since the last time we sat at these levels. I expect further
news to come out around the time of the AGM, which may spike the stock to a
new 52-week high. If the stock starts to trade in the 0.30's on Monday, with
high volume, it could gap up 10 to 20 cents on news. Market makers had their
final kick at the horse under 0.30 last week. It is very unlikely for the stock
to stay under 0.30 for any significant period of time, as big money continues
to flow into the equity.
Market makers have been hitting bids in the high 0.20's hoping to make a
penny or two on volatility (as seen by the 0.29 close, as opposed to 0.30 where
it should have closed). They failed to do this for the most part of the week as
demand outweighed supply as shown by the MoneyFlow-RSI indicator.
I believe that the stock has not yet exploded due to the lack of numbers
in their news releases. The public may be waiting to see exactly how much
Flying Disc will earn from these licenses. Judging from the success of other
gaming companies (CryptoLogic, $29.00) I don't think we are dealing with small
figures. The gaming business is lucrative, to say the least; with miniscule
overhead, profit margins are high.
Flying Disc is undergoing a name change, and I understand that promotion
of the gaming business or the stock cannot occur until that happens. The AGM
will be held on September 30. Shortly thereafter we should see rapid price
appreciation in the stock, as promotional material is sent out, and the rest of
the world begins to discover this underfollowed gem.
Flying Disc Entertainment Announces Software License
Arrangement with Internet Gaming Corp.
SEPTEMBER 26, 1997
Flying Disc Entertainment Announces Software License Arrangement
with Internet Gaming Corp.
TORONTO, ONTARIO--Flying Disc Entertainment is pleased to announce that it
has signed an exclusive arrangement to provide on-line gaming software to
Internet Gaming corp. ("IGC").
IGC has today been awarded a license from the Miramichi Indian Reserve for
the purpose of on-line lotteries, bingo and other games of chance .
Flying Disc will provide financial processing services to ICG including
Visa, Mastercard, American Express and debit processing so that their
clients can receive funds from these sources. Flying Disc will also
provide IGC with gaming software and will create graphical user interfaces
to support its processing activities for its targeted niche markets.
IGC will now have two separate servers to provide a full range of gaming
and entertainment experiences to their clientele: one based in Canada on
the Eel Ground First Nations Reserve (for bingo and sports betting), and
one in the Republic of Dominica (for on-line casinos).
FOR FURTHER INFORMATION PLEASE CONTACT:
Flying Disc Entertainment Ltd.
Don Ross
President
(416) 340-0644
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Copyright (c) 1997 Pro Trader Intelligence (PTI). ALL RIGHTS RESERVED. The
information contained herein was obtained from sources believed to
be reliable but the accuracy and completeness of it is not guaranteed
and in providing this information, PTI will assume no responsibility or
liability. This report is for your convenience and information and is not a
solicitation to buy or an offer to sell the securities mentioned herein.
Companies reviewed should be considered high risk and extremely speculative
investments with a high degree of volatility. |
