From GMT newsletter...........
AGC:ASE
Applied Gaming Solutions of Canada
ags.ca
In the last newsletter I mentioned AGC:ASE (thank you Peter K for bringing
it to my attention) as a stock to watch. I liked the chart (it was at $1
then) and the story behind it. Unfortunately, or fortunately if you were a
stock holder, the stock made its move out of the $1 range, touching $1.60
(+60%) intraday and now settling back to $1.30, 30% higher from where I
would have liked to have put it out at.
Abiding by my 'do not chase a stock' rule, I would wait until new support
levels are defined after this last run, at the moment it looks like strong
support lies between the 1.20 and 1.30.
An impressive list of directors make up this tiny Alberta company:
David A. Aftergood, Director, President
-Served with the Federal Government from 1984 to 1991 including the Prime
Minister's Office and Ministries of Western Diversification and
Small Business.
John Shields, Director
-Former Member of Parliament for Athabasca (thats in Alberta ,
Parliamentary Secretary for various Cabinet Ministers including
International Trade and Corporate Affairs.
Senator James Kelleher, Q.C, Director
-A former Cabinet Minister, Senator Kelleher has held several
portfolios including Minister for International Trade, and was
instrumental in negotiating the Canada United States Free
Trade Agreement...
The list goes on at ags.ca
To cut a long story short, AGC is setting up the first online lottery
system in Vietnam, which is a $1.2 Billion a year market. AGC in alliance
with Powerhouse (PWRH:NASDAQ) have set up centralized online system similar
to those found in North America. The numbers that I came across are that
AGC receives 4% of gross revenue for the first five years, and 1% for the
remaining two of its 7 year contract.
Of course, there is always downside, naturally there will be delays and
bumps in the road that will send the stock bouncing, but if all goes
according to AGC's plans, short, mid and long term still look good. There
is more info on the co's webpage www.agc.ca
>> On his comments on the 1.20 to 1.30 strong support level, I doubt you will be able to buy there once the rollout is announced. << |
