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Non-Tech : NORE - High Tech Bingo Equipment - Online Bingo
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To: Ed Pettee who wrote (57)12/29/1997 3:47:00 PM
From: David W. Tucker  Read Replies (1) of 7701
 
ED: As I think you know, my comparison to U.S. states data (in my FAQ) was just an attempt to grasp something about possible future earnings. I think everyone is very aware that there are seemingly a million variables and factors not taken into account. But it is information that many of us have been talking about behind the scenes, so I thought I'd put it out there as a highly aggressive forecast. Noram put the U.S. state information into the press release, so I tried to make something of it. Everyone here is waiting for the first signs of revenue information so we can play with the numbers some more. We see some excitement in the near future, but it's a long term developing situation.

We've discussed the "corruption" issue at length on SI and BOBz and most of us have gained some comfort, but it might be a nagging issue we'll have to face with every new investor. I think this has been a great concern of Noram, Sharp and LYMCA, and all those involved having been developing a collection system to assure all is well. This is just the feeling I've gotten as this has developed.

So again, many here are waiting. In my case, I'm starting my 5th month of buying on a weekly basis. I guess that if the stock does not start a small move up soon, I might get a little concerned, but I really don't expect big moves until earnings reports show positive results. Maybe May '98?

Based on my understanding, Noram has to pay for the slots they purchased. They might need to use funds from Q1 to do this. I don't know (maybe Jeff has something on this). The financing for the slots has not been spelled out yet.

I really expect good news after Jan 2nd or so when the market is back and ready to accept this information.

I find comfort in the fact that Noram is operating under signed contracts. This does not appear to be a bunch of hype. George has been cautious and conservative in his public statements.

Anyway, thought I'd chime in. Been away all weekend and was happy to see such activity here this afternoon.

Good luck to all.

dave
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