The $5 million you mention, is that what is wagered? If so then that is not revenue. If they keep 15% of that $5 million, then that 15% would be considered revenue. Expenses have to be taken out of that number.
Besides that, you mention other casinos are doing $5 million a month. I was asking about CSIN, not other casinos. If other casinos are doing $5 million, then should I invest in them?
Isn't SNMM one of the higher priced OTC casino stocks? They report and have actual earnings. The last 9 months they had .05 EPS. Total revenues were $5,984,175 and total costs were $4,769,698. Net income was $1,238,684.
Now I know SNMM is not the best comparison because they get revenues from two sources, i.e. on-line gaming and selling gaming licenses. However, your saying that CSIN's EPS will easily be 10-20 times better than SNMM?
How about CryptoLogic Inc.? Aren't they one of the leaders of on-line gaming? They had gross revenues of $8.3 million for the first quarter of 1999 with a fully diluted EPS of .35 (US dollars).
So you saying that CSIN in it's first year will do better than CryptoLogic?
Isn't 1999 almost half way over already? In order to achieve $1.50 EPS by year end, they should be highly profitable already. If that were the case wouldn't it be prudent to report their profitability now? That would definitely boost the stock price!
Once again, will they be reporting any interim numbers, for example, audited or unaudited quarterly revenues/EPS before becoming reporting or EOY (which ever comes first).
A friend of mine bought into this stock already, and I am considering it. I like CSIN. I think it could be a good ground floor opportunity. However, I don't want to buy on fictitious numbers.
Anyone that can help me to make sense of this, please help.
Thanks,
Mike |
