SNMM, MM's trying to walk it down on solid buys. Guess they didn't get a copy of this;
Douglas Casey Gives SNMM a BUY
Hi all...guess what I got in my hot little hand...
Starnet is VERY reluctant to distribute it themselves, but eventually an "independent
source" (who, it doesn't say) faxed me a copy of Casey's Special Alert Bulletin, May 28
1998, on SNMM!
Excerpts:
- "To my way of thinking it's a syllogism: People like to gamble. Soon almost everybody
will be on the net. Therefore, gambling on the Net will be big business. It has to be such
rapidly expanding profitability that investors' attention is forced to look in that direction.
And Starnet...(with a) choice of a myriad of games...impresses me as the one most
likely to take off most strongly."
- "The big perceived risk with every company in this business is punitive regulation,
taxation or legal attack by various governments, especially the US...it's not technically
feasible for governments to preclude any given activity on the Net...the reality of the
situation makes me feel fairly confident about the long-term viability of gambling on the
Net."
- "World Gaming...(does) not accept action from North America to avoid legal
hassles...the company is projecting growth to $10,000 per day (net), or $3.5 million a
year, within a year. This is good business, but not sufficient to light a fire under the
stock...the real story is Softec."
- Softec Systems Caribbean is the essence of Starnet's potential growth. The (licensees)
pay $100,000 up front, then a sliding scale, 10-40% of monthly net revenues, with a
$25,000 minimum. They get a ready to use, customized package. (They) are typically
professional marketers who don't want to get into software development...costly, time
consuming. They're projecting twelve (licensees) by the end of June based on current
contracts in negotiation. Softec licensees solicit business in North America at their own
risk and discretion. The market for turnkey gambling software is huge, in my opinion."
- "Starnet Canada offers adult entertainment...it generated a net of $825,000 in the last
12 months, and continues to grow. It, however, is for sale...that is a good idea, since it
clouds the water...the anticipated sales price is $10 million...a reasonable figure based
on its earnings."
- "The key to this company's stock price, and future, is its rapidly growing revenues...the
signing up of additional software licensees is the one critical factor to watch."
- "I suggest you buy the stock...my target is $7 to $10 within six months."
- Contacts: Starnet IR, and a Mr. Bruce Greene. Maybe his office faxed me.
YEAH!!!!
///M |
