Get in on undervalued internet stock GOCA. It continues to release phenomenal growth in revenues.
Go Call Inc. Reports Revenue Increase of 716 Percent with Audited Financial
Statements
Plans to Become Fully Reporting Issuer with Form 10 Application
NEW YORK--(BUSINESS WIRE)--April 26, 1999--Go Call Inc. (www.goca.com; OTC
BB:GOCA - news) announced today that it has received its audited financial
statements for the year ended Dec. 31, 1998.
Collins Barrow, a leading international accounting firm and a founding member of
Moores Rowland International, completed the audit. Moores Rowland ranks
ninth-largest in size, worldwide, with 480 offices around the globe.
Go Call Inc.'s revenue for the 10 months ended Dec. 31, 1998 increased 716% to
$2,479,793, compared with $303,836 for the 8 months ended Feb. 28, 1998. This
represents a 40% decrease in the net loss per common share to $0.09 per share for
the 10 months ended Dec. 31, 1998, compared with $0.15 per share for the 8
months ended Feb. 28, 1998.
Along with the revenue growth, Go Call's balance sheet also showed total assets of
$2,556,356 and total liabilities of only $419,550 at Dec. 31, 1998.
Go Call's first quarter revenues for 1999 have already surpassed total revenues
reported for year-end 1998.
With this audit Go Call plans to immediately file a Form 10 application with the SEC
to become a fully reporting company and apply for listing on the Nasdaq SmallCap
market.
Go Call's e-commerce division, which processes transactions for GoCasino.com
(www.gocasino.com), recorded wagering revenues of $5,549,410 for the month
ended March 1999. This is an increase of 79% from the previous month. Wagering
revenues are the total amount of funds wagered by the casino players.
GoCasino.com has seen its wagering revenues increase 90-fold to a total of
US$12,674,224 from September 1998 through March 1999.
Gaming research analysts predict online gaming to become a US$25 billion market
by the year 2002. Go Call's competitors within the Internet gaming market include
Cryptologic Inc. (TSE:CRY.TO - news), Starnet Communications International Inc.
(OTC BB:SNMM - news), GLC Limited (Nasdaq:GLXW - news) and Harrah's
Entertainment Inc. (NYSE:HET - news).
Go Call Inc. develops, markets and manages secure, progressive and profitable
ventures springing from the Internet entertainment and e-commerce revolution.
The statements in this news release are for information purposes only. Actual results
could differ materially from those anticipated or described herein as a result of
certain factors and circumstances.
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Contact:
Go Call Inc., New York.
Ian Smith, 519/651-2121
iansmith@goca.com
www.goca.com
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