Jeffrey, important news pending on SNMM that has started a major move...
Stock Watcher has included the stock today on its index. I have been long some 4000 shares on this one for a month or so and it has finally started to move. This was picked up on SNMM thread:
Investor's Digest latest issue (dated March 12) printed an excerpt from the "International Speculator":
Mr. Doug Casey, editor of this advisory, recommends ''with trepidation''
Vancouver-based Starnet Communications(SNMM-NASD-BB, $4), an Internet
gaming stock. Mr. Casey explains his use of the word ''trepidation'' this way: In
relation to the Internet ''we're in very much the same situation as somebody a
hundred years ago who could clearly see that the automobile was going to change
the face of the planet. Which of the hundreds of automotive entrepreneurs should
you invest in? Since 99 per cent of them eventually went bust, it would have been
easy to be right on the trend but wrong on the vehicle to ride it.'' Mr. Casey said he
first recommended Starnet at $0.47 and ''notwithstanding the caveats, it is still an
excellent buy today.'' Starnet, based in Vancouver, does not trade on any Canadian
exchange. It got its start in this country when it launched Starnet Canada, a so-
called adult entertainment Internet site. That division is now up for sale. Gambling
and smut just don't seem to mix. Starnet's two other divisions are World Gaming
Services which operates an Internet gaming service and Softec Systems Caribbean
which creates gambling software it sells to others who want to get into Internet
gambling. Mr. Casey sees the Softec division as ''the essence'' of Starnet's growth.
Buyer's pay $100,000 for the software then a percentage of revenues. Todate there
are 20 licensees. Starnet reported net earnings for the Oct. 31 quarter of $247,747,
up from $102,000 the previous quarter. Mr. Casey says estimated net profits for the
Jan.31 quarter are about US$1 million. ''I suggest you buy the stock up to $5. My
target is $10-$20 within six months....This is a stock that will either work, or not,
short term. It's not a 'hold and hope' situation.''
|
