The press release from Tuesday January 13 states:
>MINNEAPOLIS--(BUSINESS WIRE)--Jan. 13, 1998--Global
>Games/Communications, Inc. (OTC Bulletin Board - ''GLOW''),
>January 13, 1998, Minneapolis, Minnesota, unveiled its
>development plan for its subsidiary, Electronic Card Services, Inc.
>(''ECS'') of >Miami, Florida.
>
>Global acquired ECS in December 1997. ECS is a young business
>providing prepaid phone cards through both counter sales and
>machine dispensing. Its initial distribution has been in the Toronto,
>Canada market. ECS's rapid growth is reflected by third quarter 1997
>revenues of $450,000 and fourth quarter revenues of $750,000.
>
>Global paid $1.6 million for ECS in cash and restricted stock.
This says "its subsidiary, Electronic Card Services, Inc" and "Global acquired ECS in December 1997". I inferred that this meant the deal was done. I thought the other acquisitions were also a done deal.
If this is not the case, and they don't actually acquire these companies, then what will there expected revenues and earnings be for 98'?
Do they have any other significant source of revenue?
Mike |
