Austen Rey,
This just our on my newsletter received from Internet Stock News "StockTalk".
>>Giving you a quick status update of some of our featured companies, let's
start off with Starnet Communications (OTC BB: SNMM). We made the decision
to buy some more shares in the company recently. (This doesn't mean you
should!, Please read our disclaimer at the bottom of this newsletter!) We
were particularly impressed by their quarterly report in which they
reported revenues of over $2.6 million for the past quarter with almost $1
million in profit. That represents a 228.2% increase compared to the
previous quarter while operating expenses only increased by 7.8%. At the
rate the company is going, they may generate revenues of over $25 million
in the next year with the majority of that being profit. Compared with
another e-commerce company that sells airline tickets & other travel items
over the Internet named Preview Travel, the projections for the next year
are quite similar. Preview Travel (NASDAQ: PTVL) currently has a $311
million market capitalization while Starnet has a $145 million market
capitalization. With Online Gaming (Gambling, etc.) on the Internet being
, in our opinion, far more scalable then the sale of travel reservations,
we cannot help but enjoy the company being on our “Ones to Watch in 1999!”
list. In addition to the impressive earnings reported on Thursday, the
company announced that they had applied to become listed on the NASDAQ
National Market System. In our opinion, this will allow the company to
receive far more exposure than if they were quoted through the OTC Bulletin
Board and will allow the company to finally receive institutional
investment and analyst coverage. Lastly, John Dutton, analyst with the
Investor's Research Institute PAR Program, initiated coverage of the
company with a target of $14 to $20. As you can see, it has been an
excellent quarter and exciting week for Starnet. We wish the best for them
in the future. Trading at $7 1/32, don't forget where you heard about them
first. We put the company on our “Ones to Watch in 1999” in our December
31, 1998 newsletter when the company's stock was trading at approximately
$1.50 per share.<<
Best of luck on this stock, it should pay off really nicely.
re:MAX |
