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Microcap & Penny Stocks : Go Call (GOCA)
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To: diamond dealer who wrote (58)2/7/1999 5:29:00 PM
From: FARRIS  Read Replies (1) of 192
 
All,
Though I am not totally up to speed with GOCA -- I can tell you a few things about this company.

1. I took their casino for $1000 a couple of days ago. I will not be visiting it again for a lot of reasons, but they are not too relevant to this discussion.

2. All of these "acquisitions" are "paid for" with stock. GOCA houses lots of seperate companies, run independantly, under their "umbrella" and all of it falls within their accounting. Makes it hard to become fully reporting when you are as far flung as they are.

3. "Their" casino, for example, is obviously run by a group that runs other on-line ventures. I would imagine GOCA's piece of the pie is quite small, BUT at the same time their risk is basically nill. The worst thing that could happen is the entity sells of the stock they were given. That does not really hurt GOCA -- It hurts you shareholders.

4. Tried to call Michael Ruge for the two days preceeding the run-up -- he had gone home both days according to the girl who answered the phone. (By the way I have been to their offices and their Internet Cafe in the past)

My last comment for the moment is this -- be careful and be sure you understand what these PRs mean. I BELIEVE that they are extremely misleading as written -- I could be wrong and I will report back when I can confirm my beliefs or not. I will also bet anyone 5,000 shares of GOCA that there have been many more than 4 million shares issued to date.

DD is the key -- I have done a lot of very decent research on this company and still have not bought it -- there are reasons for it though I would have a nice return right now if I had bought in three or four months ago when I first made the trip to Cambridge.

Good luck.
Eric
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