SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : 50% Gains Investing
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Kent C. who wrote (152)11/1/1997 2:04:00 AM
From: Dale BakerRead Replies (2) of 118717
 
I looked briefly at the Investor1 site and SNMM's latest 10Q. On the plus side, you have a new product here which could be very big, i.e. Internet gambling. Notice that they intend to aim at Asian and European markets, since the U.S. is likely to ban all Internet gambling very soon.

On the minus side, SNMM has virtually no cash and they aren't making any yet. They say they will meet future need through operations and "equity financing". Look out for convertible discount deals which could expand the sizeable shares outstanding even more as SNMM struggles to survive. Twenty million shares is a lot for a startup company to have outstanding, by the way.

Also, this is a low barrier-to-entry business. Get a couple of gambling games and an offshore Web site and you can start to compete. The explosion of pay-subscription adult sites is a good example.

Personally I wouldn't invest in SNMM based on the above. The fact that they are hyped on a slick investor Web site makes me even more suspicious.

I would rather keep my money in BNGO, whose future is based on an established venture, video poker in South Carolina where they are expanding their market share through acquisitions. Check it out; earnings are due by mid-November.

Good luck and keep posting new ideas here.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News