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Non-Tech : Starnet (SNMM)Online gaming, sexsites, lottery, Sportsbook
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To: Chris Noel who wrote (511)7/30/1998 12:39:00 PM
From: M_Power  Read Replies (1) of 8858
 
Just got off the phone with IR. They've filed an extension on their 10K.

Although it's a 15-day extension, Toma says it should be out next Tuesday or Wednesday; Monday is apparently a holiday in Vancouver.

They blame it on Ernst & Young being too slow in their audit.

Chris/Thomas: one more thing to consider about licensing legality is that the subsidiary "Softec Systems Caribbean Inc." is incorporated in Antigua - another layer of protection over & above regular licensing indemnity.

As said in the Forbes article:

"Even if the company licenses its software to an online casino that is busted for accepting bets from Americans, Starnet, as a third-party vendor, is not liable--in much the same way that Microsoft could not be held legally culpable if MS Word were used in a death threat."

1999,

///M
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