Advance Gaming Technologies Inc. (AGTI) Message Board

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Microcap & Penny Stocks : Advance Gaming Technologies Inc. (AGTI)

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To: uptick who wrote (1985)	4/17/1998 9:43:00 AM
From: tgs59	Read Replies (1) of 4539

Uptick, I would certainly agree that they need to eliminate those convertible debentures. From the 10K page F-15 (note 9 Long-term debt) interest on the $1,249,286 is 2% per month. Accounts Receivable page F-2. In the third quarter the company was carrying $459,000 in A/R. This was quite high, given average monthly sales of $100K and industry practice is weekly billing. The 10K indicates the company has recognized the doubtful collection of a large portion of its receivables. Fourth quarter A/R of $234K is still quite high relative to monthly sales. I still believe that the proposed financing will have an impact upon current shareholder values. The company has a negative financial net worth per the balance sheet. Given the relative risk, any financing source is going to expect or extract a substantial premium from the company. The financing source in effect controls the destiny of this company, thus they will expect a return commiserate to the risk. What happened to the sale of the MO land? Is the proposed financing from offshore sources? tgs59

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