GLOW "GENERAL OVERVIEW INFORMATON" (Updated 3-22-98)
(This information has been compiled by me, an independent investor, and is presented to be as accurate as possible according to what information I have been able to obtain from public and private sources. This should NOT be assumed exact, but is presented as a
starting point for research purposes.)
TICKER SYMBOL: GLOW (OTC:Bulletin Board)
COMPANY:
Global Games Corporation
400 S. 4th Street, Ste 720 Main
Minneapolis, MN 55415
Telephone: (612) 672-0834
CEO & PRES: Gary Borglund
CFO: Barry W. Phillips
E-MAIL: (CEO) borglund@redoakmgmt.com
WEB SITE: globalgames.com (Please Note! This particular web site is currently controlled by another entity. The New Mangement of GLOW is negotiating a release of this web site. When that is accomplished, the web site will be updated.)
DATE OF ANNUAL SHAREHOLDER'S MEETING: April
TRANSFER AGENT:
Liberty Transfer
191 New York Avenue Drive
Huntington, New York 11743
SEC STATUS:
Currently filing to be a fully reporting company with the SEC by the end of June, 1998.
TOTAL SHARES AUTHORIZED: 100 million
TOTAL SHARES OUTSTANDING: 57,458,813
RESTRICTED SHARES: Apx 11 million
INSIDER HOLDINGS: Apx 7 million
SHARES IN THE FLOAT: Apx 46 million... NOTE! This float is expected to be reduced by about 16 million shares that the company is currently retrieving. These shares were issued as part of previous deals that have not materialized as expected so the company anticipates getting those shares returned as those deals are "undone." When they are
retrieved, the float is expected to drop to about 30 million.
OTHER QUESTIONS:
Q. Do you have any Reg S out?
Answer: No
Q. Are there any 504s still out?
Answer: No
Q. Do you expect ANY reverse split to reach 50› EPS for FY98?
Answer: No. However, the 50› EPS is based on retrieving the 16 million shares.
LIST OF RECENT PRESS RELEASES: (scroll down past the quote)
quote.yahoo.com
GENERAL BUSINESS INFO:
GLOW's core marketing strategy is to develop recurring electronic revenue streams based on targeting niche markets where the company's expertise can be leveraged.
GLOW provides commercial Internet services, third party credit card processing, pre-paid phone cards, Internet Gaming (marketed ONLY to countries outside the USA), and management services.
GLOW recently acquired 100% of ECS (Electronic Card Services, Inc.).
ECS sells electronic cash cards accepted by major retailers and prepaid phone cards.
Electronic cash cards will soon include access for prepaid cellular usage, chat lines, Internet access for travelers, and include applications that will function much the same way as a bank debit card. Initially, the ECS market was Toronto, Canada. But ECS is now expanding throughout Canada and will enter US markets later in 1998.
ECS is growing faster than originally expected. Sales for 3Q 1997 were $450,000 and for the 4Q, sales were $750,000. ECS estimates 1998 revenues of $14 million and a pre-tax profit of $7 Million.
GLOW also recently acquired 100% of Wolf Key, however, several key issues are still pending to determine the best direction for Wolf Key.
Wolf Key is a company with commercial Internet and credit card processing capabilities.
GLOW's initial business of Internet gaming outside the U.S. is expected to expand much faster because of GLOW's ability to offer credit card processing.
For FY98, my understanding is that the company expects to do about $40 Million in revenue JUST from ECS, Internet gaming, and management services ALONE. These revenue sources could generate pre-tax profits of about $20 Million.
EARNINGS:
GLOW is projecting about $0.50 per share in earnings for FY 1998.
GENERAL INDUSTRY INFORMATION:
Electronic cash card sales in 1997 were just over $2 billion in prepaid phone card usage alone, and annual volume of over $4.3 billion is expected by the year 2001.
An independent U.S. research firm estimates that the total Internet electronic commerce market will surpass $150 billion by the year 2000.
CURRENT QUOTE:
cbs.marketwatch.com
CHART:
tscn.com
PLEASE NOTE:
I am NOT associated with GLOW in any way. I am an individual investor with my own opinions. I don't give advice. Questions should be
directed to the appropriate source, many of which are listed above.
Everyone is urged to do their own research before investing in anything.
Best wishes,
Brad |
