FWIW, I found this on the GOCA thread on Raging Bull:
By: mideo
Reply To #283 by mdatl Wednesday, 24 Mar 1999 at 6:53 PM EST
Post # of 318
GOCA / KAFE info from IR
Talked to IR this afternoon... asked him about this restaraunt deal... They bought and will run this restaraunt.. Was bought from pure asset
allocation standpoint as well as a sort of PR
peice of property... They will promote their kiosks and Dominican Resort from this property, also as well they will be tying this into their celebrity liscensing online casinos..
The poperty was bought for 8.5 mil in stock, they bought 92% of the stock in KAFE for this property
issuing 7 for 1 in stock.. The stock will be subject as a 144s offering, with a restriction of a one year minimum holding before it can be released on the market.
According to the last filing on KAFE 1/99 on edgar there was approx 137,500 k shares of kafe.. our amount is roughly 126k ( 92 %)
so by my math we will issue 882,000 shares
in a year for this property that has a value of
4.5million ( approx worth to us of 5.10 a share)
so this increases out our asset base at these stock levels.. now according to my math this means we issued the stock at a worth of 9.64 a share when its selling for 1.50 today
If somebody wants to check my figures, i woudl appreciate it.. The givens are a 8.5 mil purchase price and from IR a 1-7 stock exchange. the rest i figured using the info from edgar.
also in subnotes, he stated that this deal is just the beginning part of some of their other deals that are going on that we should hear about over the next couple of weeks.
also the audit is almost complete, and we should have audited financials in a couple of weeks and then will become full reporting.. Asked about the NASDAQ listing and he said that is the intent but iss a while off..Share price needs to get up etc..
Banner program is increasing all the time, and the indexus program will probably be launched around the 3 rd qtr..
Gaming revenues are increasing,
Company will not show a net profit this qtr due to
put all the profits back into growing the business. Said would be profitable before makeing some of it's investments for it's future growth.. Said expects to show a bottom line profit also around the 3rd qtr.
That's all I can remeber for now, Seems like a lot of positive things going on and should hear even more and better news over the next couple of weeks.
Still Think we got a good one hear, and should see some growth in the stock price real soon
MIDEO |
