Joseph:
I can see what you are saying about the revenues, but for a comparison I looked at GLXY and another similar company named iMALL (IMAL) which is currently trading at 14 1/8 with a MARKET CAP OF $131 MILLION . Just look at their latest financials and compare to GLXY:
iMALL Inc. (Nasdaq:IMAL - news) today reported financial results for the third quarter ended September 30, 1998.
For the quarter ended September 30, 1998, revenues from continuing operations were $354,616, compared to $237,918 in the same period one year ago. The net loss for the quarter was $3,830,728, or $0.55 per share, which included a loss from discontinued operations of 638,899, or $0.21 per share. This compared to a net loss of $1,414,044, or $0.19 per share, which included a loss from discontinued operations of $749,437, or $0.10 per share, for the 1997 third quarter .
GLXY has a market cap of $10 million, or 1/13th of iMALL. Based on each companies current earnings, which stock should be higher priced???
I believe this industry is in its' infancy and can only grow bigger. What intrigues me is that the anticipated growth is built into IMAL but not GLXY.
Lastly, I have a call into GLXY and will report on these and other pertinent issues by next Monday.
Mark
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