I have to respond in favor of T.G.W. on the comment about this stock being crap. I cannot recall him ever stating that, but he has had doubts about the stock in the past, and probably will still have more until the stock reaches his level of satisfaction to justify involvement with it. No different than anybody else.
As for you comment below on the revenue stream.
"And lastly if GLOw has to subcontract large portions of the new deal, and that is what the press release sounded like, than there will be very little revenue stream left for GLOW stockholders....."
I have to disagree with you on that T.G.W. As you know from my work in Govt. contracts it is almost always a win win deal when you can sub-contract work out. It saves you G&A, overhead, medical, 401k, profit sharing, vacation, sick leave, etc.... I see this all the time in firm fixed cost contracts.
What is different about this, is it should be a continuous stream of revenue from the gaming portion of the site. There would be a little more work up front but then it would go into what I call maintance mode. You would be guaranteed to save cost.
But besides all of that, If we go back and look at several of the press releases we see that IGC is a company that Global Games already has a teaming arrangement with for tech support services.
-----------------------
MINNEAPOLIS--(BUSINESS WIRE)--July 7, 1998-- Global Games Corp.(OTC BB:GLOW) ........... (5th paragraph down)........
Internet Gaming Corporation (IGC), a private company with whom Global Games already has a licensing agreement in place in Dominica, will participate in this government project and will provide tech support for the Virtual World Casino and Sports Book. IGC will receive a portion of our licensing service fees for their tech support services. The Commonwealth of Dominica and IGC will operate independent sites, but will work cooperatively to the mutual benefit of all parties.
--------------------------
What is even bigger news is Global Games developed this gaming software. Not IGC, or anyone else. This means Global Games is going to continually receive revenues from these games as long as the software games are being used. No where in any of the press releases does it say another company is going to receive royalties from this software. Only Global Games. In fact the PR statement on May 5th states it is Global Games "proprietary" software look below.
--------------------------------------
MINNEAPOLIS--(BUSINESS WIRE)--May 5, 1998-- Global Games, Corp. (OTC Bulletin Board symbol ''GLOW''), announced today they have reached a definitive agreement to supply Global's proprietary Internet-ready gaming software to Internet Gaming Corporation (IGC).
IGC initially plans to offer regular Bingo and Full-Session Bingo on the Internet from its gaming business headquarters in Dominica, West Indies. Subsequent to the introduction of IGC's Internet Bingo game, IGC will offer a full range of Internet Casino games supported by Global Games' Software starting with a Multi-player Java Blackjack Game.
Global Games will receive ongoing revenue from IGC's Internet gaming income. After an initial 30-day trial period, Global Games forecasts annual net revenue from its software sales to IGC will reach .........
-------------------------------
Hope this helps everyone.
Regards,
Greg |
