To: Dan Meckenstock (805 )
From: ocmayor Thursday, Jan 7 1999 7:18PM ET
Reply # of 2338
These issues were not mentioned in the press release, but Tom's letter today clarified that the shareholders will have to approve the merger. Yes, I noticed that last night, this was a fantastic move for both sides... eBet gets to be a publicly traded company, and BETT gets to share revenues. The public may not see it yet but, our first Q financial statement could be astonishing. (whenever that info is released.) BETT shares are worth a ton more now than they were a few days ago... The question that remains is what was BETT worth then ( .10 per share) and what is it worth now (.50 a share) so we made out like bandits thus far. According to the market we merged with a company 5 times more valuable than our own (which I feel the stock is still undervalued at .50 considering the cash cow busineess of internet gambling we got involved in).
The reality is (and I have done extensive research on this) that a $500,000 a month offshore "telephone only" sportsbook is worth 10 to 20 time that as an "internet" sportsbook (if run well) in its first year (average). So if all goes as according averages a year after going on line our share price should 10 or 20 fold... As even a moderate internet casino/sportsbook with good advertising shold be pulling in a bare minimum $1,000,000 a month.
Add egate, an internet sportsbook, and any other sportsbooks or casinos we add or take over, and add in our small cap we are looking at a three digit share price in 5 years.
Example would be OTC:GGNC they did $1.56 in their second month online (September last yaer) and their share price is at 2.25 now, thay also don't have egate attached and they have 5 times more shares available then we do. WE ARE IN THE RIGHT BUSINESS!!!!! And more importantly in the right stock !!!!
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