Starnet (SNMM)Online gaming, sexsites, lottery, Sportsbook Message Board

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Non-Tech : Starnet (SNMM)Online gaming, sexsites, lottery, Sportsbook

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To: Mephistopheles who wrote (142)	3/19/1998 12:59:00 PM
From: Drake	Read Replies (2) of 8858

Some very good news in the 10Q >>The Company's revenues increased 50.7% to $812,177 for the quarter ended January 31, 1998 compared to $538,902 for the prior year quarter. On a year-to-date basis, revenues for the nine months ended January 31, 1998 were $2,242,246, 68.4% greater than the comparable period of the prior fiscal year.<< >>At January 31, 1998, the Company had $423,596 in cash and cash equivalents compared to $27,545 at April 31, 1997.<< AND THE piŠce de r‚sistance!!!! >>As the gaming project is in its final testing stage, the Company expects R&D costs to be significantly reduced and the gaming operations starts generating revenues in the next quarter.<< I would say that considering the the time involved in getting a game site up and running as well as marketing it, we just might all be pleasantly surprised when we see the next 10Q. I think CRYP went from posting a loss of $200,000 in one quarter to posting a profit of $2 mil the next quarter once the got the Online Gaming going. I can see no reason why we can't expect a similar situation with SNMM. It is the nature of the business.

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