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Non-Tech : RIHI - Merger with Internet Gambling Co, - Worldnet Gaming
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To: Jeffrey S. Mitchell who wrote (129)2/28/1999 11:33:00 AM
From: Whisperer!  Read Replies (2) of 363
 
Gee are you a winner jeffrey. Where did you learn about business? High School I guess.

Here goes for what it's worth. Please bear in mind you are not big game and not really worth my time. Remember I am not an affiliate with company I am Scam Buster. Since your so fond of taking paragraphs out of context to prove your negative slant points to help your short here's a paragraph you forgot to include:

REVERSE STOCK SPLIT AND COMPARABILITY

On January 17, 1998, the Company authorized a 1 for 100 reverse stock split. This policy was activated on March 6, 1998, the authorized stock remained at 50,000,000 shares of common stock. In the accompanying financial statements all figures relating to shares of stock have been restated to reflect the reverse split as if it had occur prior to periods presented for comparison purposes.

It's obvious from that paragraph the companies prior business failed. The action of a reverse stock split was obviously to re-organize the company. There is nothing illegal about issuing new shares to re-capitalize the company, which appears to be exactly what they did.

Once again jeffrey with shoddy detective work like your queen you present faulty information. On March 31, 1998 when the company issued 5 million shares for the $100,000 accrued liability the stock was not trading on a daily basis. Check the chart moron, the stock was $0.065 per share which translates in $325,000. Of course they would have to be able sell all 5 million shares at that price to realize the money. The stock was not averaging 5,000 shares of volume per day at that time.

So just because your a poor business man and don't know how to exchange debt for equity does not of course mean no one else does.

With regards to the S-8 it looks like from the merger of World Net Gaming, a company reportedly grossing $7 million per month, that the consultant did a fine job. I also fail to see where the consultant is termed a related party in any of the documentation. In fact they have done so well you might want to hire them for your company. Even with you at the head of the company they may still be able to help you.

Have you made an investment decision yet?
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