Jack,
There is a lot to like about the company. The private placement is done, which gives them enough capital to place about a thousand additional machines. Their share of the profits is about $50.00 per night per machine. That works out to $50,000 per night, just for the new machines. (They should get half or more installed this quarter, and the rest next quarter.) It is hard to know exactly how many nights these Bingo places are open, but figuring 300 days per year gives an additional $15 million dollars in revenue per year from the new machines.
I'm thinking that the time frame is perhaps a quarter or two, but it could be much sooner, depending on what Walsh, Manning Securities decides to do. (They did the private placement, and they tightly control the 2.3 million shares that were placed.)
Due to some of the terms of the private placement, I'm expecting something in the 12-16 range, maybe more if some other business ventures pan out. If we get noticed by Wall Street, and get some institutional buying, who knows? We have moved up nicely in the last week, after sitting at about $5.00 for a long time.
Craig |
