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Non-Tech : NORE - High Tech Bingo Equipment - Online Bingo
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To: george eberting who wrote (142)1/1/1998 3:36:00 PM
From: Ed Pettee  Read Replies (3) of 7701
 
George, I had a long discussion with George Zilba yesterday and I was quite impressed with his openess, his speaking frankly on issues and the amount of time he spent (1 1/4 hours). This gives me more confidence in a start-up company like this, however it does not mean that I would stop doing due dilegence. Generally, what I try to due is get confirmation on issues from an independent third party. This doesn't mean that I don't believe things that I have been told it's just that people close to the company generally do not convey negative news or expound on the degree of risks involved any more than required in the SEC filings. If I can get confirmation of certain issues then I continue to add to my position in the stock. I am still digging on a number of issues, even asking an old classmates in Caracas to help.

It is true that they will be taking cash out to pay for the machines on a 50/50 basis with Sharp. However the net revenue numbers that have been provided are net of that expense. Also George indicated that instead of a one year payment schedule to payoff the machines he has a good posibility of extending that to a five year payment plan which of course gets more use of needed cash up front. Of course the 50% ownership of these machines gets listed as an asset to NRAG and I believe can go towards the net tangable assets total required as one of the seven requirements for full NASDQ listing.
I did not ask the cost of these machines but I assume that this info is available and it would be a help in knowing this.

Hey George HAPPY NEW YEAR-- Your grouchiness is a hang over from the 3000 BINGOW you let go, and losing patience with Joe Murphy on getting that DCTI stock up. <gggg> All in jest George
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