Does anyone know if this is even legal (online lotteries)? And what will their burn rate be before they get new contracts? Seventy million can last a long time.
And if someone can determine the outstanding shares and float for ELOT I would appreciate it.
From XTON's 10-K:"eLottery currently plans to become a web-based retailer of lottery
products and to provide a wide array of products and services for the domestic
and international lottery markets. eLottery develops, provides and maintains
Internet, Intranet, telephone, communications, accounting, banking, database and
other applications and services to facilitate the electronic sale and
distribution of new and existing lottery products worldwide. eLottery has
developed a new generation of proprietary lottery technologies designed to take
advantage of the impact that eLottery believes recent advances in
telecommunications and computers will have on the nature and delivery of lottery
products and the support systems necessary to administer them. eLottery believes
it is the first to develop and operate secure, integrated Internet, Intranet and
telephone lottery gaming systems. Its Internet and Intranet systems provide for
the electronic sale and support of both periodic and instant draw lottery games
and instant electronic "scratch-off" games. Using eLottery's systems, lotteries
will be able to electronically distribute lottery tickets for both periodic and
instant draw lottery games over the Internet through eLottery's websites,
eLottery.com or eLotteryWorld.com, through an Intranet, using telephony and
through stand-alone custom-designed electronic lottery terminals located in
horse racing facilities, bars and other age-regulated environments. eLottery
believes that the electronic distribution of lottery tickets through these
systems will increase sales for lotteries because the systems make the purchase
of tickets easier and use technology to enhance the lottery gaming experience.
Subject to applicable law, eLottery plans for the eLottery.com website to be a
site containing links to the sites of participating lotteries utilizing eLottery technologies to sell their lottery tickets over the Internet.
eLottery also may sell lottery tickets as an agent for certain lottery
operators. The eLottery.com website and the lotteries will have the ability to
remain open 24 hours a day, seven days a week without incurring additional
overhead costs, and will be able to electronically distribute lottery tickets
and games and offer lottery players convenient and timely product fulfillment,
including the ability to pay prize winnings or cash credits on an overnight
delivery option for a fee via check or electronic funds transfer. eLottery
believes that its Internet lottery distribution systems will encourage lottery
patrons to play more frequently and will also attract new lottery customers.
eLottery believes that its systems provide lotteries with numerous advantages
relative to traditional means of distribution including player tracking ability,
sale of tickets over the Internet and entertaining fast-play instant games and
the combination of the advantages of Internet commerce and eLottery's ability to
customize its systems will result in eLottery becoming an agent and leading
provider of products and services for the lottery industry. |
