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Non-Tech : CAOL: The Chinese AOL and Internet Lottery
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To: VINCENT MALGAPO who wrote (22)5/1/1999 2:57:00 PM
From: michael john stout  Read Replies (2) of 720
 
Received a response to my email to Brian at CAOL:

Q: What is the name and phone number of the Transfer Agent? Does the company anticipate the need to issue more shares?

A: Signature Stock Transfer, 972-788-4193

Q: How is the ISP being acquired? Will this necessitate the issuance of more shares?

a: Subject to a satisfactory legal opinion, at such time that CAOL has entered into a definitive agreement with respect to the ISP we shall announce further details.

Q: What is the status of the lottery kiosks? Any idea when these will become operational and how they will be financed?

A: We still await a legal opinion to confirm our due diligence. If we receive a satisfactory opinion from council then, at such time, we are prepared to acquire a few initial kiosks. At this time the manner in which the kiosks will be acquired shall be subject to board approval and the legal opinion.

Q: Any idea when the company will become profitable?

A: Subject to the acquisitions announced, we are optimistic that the company shall achieve positive revenue in the not too distant future.

Q: How worried are you about the possibility of things falling through with the Chinese government?

A: There are always concerns and uncertainties when dealing with other cultures and centralized governments. We believe that the combination of the growth potential in China, business experience of CAOL's management and advisors and by being patient, ensuring that the is are dotted and the ts crossed, that we may mitigate a majority of the risks involved.
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