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Non-Tech : World Wide Web Casinos (Internet Casino/Sportsbook)
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To: scot herr who wrote (539)5/5/1999 1:44:00 AM
From: Michael Harb  Read Replies (1) of 688
 
This company, NWDP, existed for a few months before we came into the picture. It was what is called a "shell". Basically a registered company with a ticker symbol and a tradeable security yet really operates no business to speak of. WWWC merges with this already public shell (reverse merger), as an easy way of going public. Otherwise you have to pay investment bankers a bundle to take you public through the traditional channels. This is not viable for most small cash strapped companies.

There were 500,000 or so shares outstanding before we came into the picture. Those are traded now....Several million more shares have been authorized in order to convert our WWWC shares into NWDP. Those will become tradeable, respecting restrictions, in the next couple months hopefully.

Why would anyone sell when the stock was $11 recently. I don't know...but if you notice it popped up one day on huge volume...with a couple days of follow through on its heals. Likely some small brokerage recommended the stock (there is also a lot of manipulation in the OTC-BB markets)....and since the stock has such a small float it got a good pop...(then you also have momentum players jumping on board trying to make a buck which can push it higher...that $11 was a near term anomoly in my opinion).

We will likely trade <$3 until the business gets up and running and people have something to get excited about. Many people who have been in WWWC for the last few years just want there money out so there is a lot of pent up downward pressure pending (depending on how the stock is restricted)...

mike
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