To: ocmayor (835 )
From: SCOOBEY-DO Sunday, Jan 10 1999 10:32AM ET
Reply # of 2338
To Fellow Shareholders,
The following are answers to some questions that I submitted to Tom for comment:
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To answer your questions:
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Question: Is it possible for Jim Wexler to write a short summary about eSportsbet's business plan and about his thought about the future?
1. Yes, Jim will be introducing himself to the thread on Monday.
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Question: Does the merger require BETT shareholder approval?
2. The merger will be voted on after we have filed the 10K and have
moved the company to Nevada. As the controlling shareholder, ET&T
has already signed off on the merger.
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Question: Will eConnect automatically be incorporated in Nevada or will it require shareholder approval?
3. Once in Nevada, Betting Inc. will formally change its name to
eConnect by Board motion.
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Question: Will the 10K represent Betting, Inc. exclusively?
4. The 10K will represent Betting Inc before the merger. The next 10K will represent the merged company with the earnings from eSportsbet etc.
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Question: Is Augie (Masciotra) still a part of BETT's future?
5. Augy will initially be working with me as a VP in eGate and I will be the President of the eGate division to maintain continuity for the BETT shareholders.
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Question: A lot of the investors are disappointed with the current PR group. Are there any plans to change the PR Group in the near future?
6. Carnegie Cook is more of a stock consultant firm than a true PR
firm. Jay and Anita have been very loyal to BETT and we will return that loyalty. As dollars come in to pay for services, we will expand to additional support for BETT.
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Question: Since Jim Wexler worked at Bear Sterns and Morgan Stanley in the past, will those former ties benefit the new eConnect?
7. I will be in NYC from January 18th to January 23. Jim has many
strong Wall Street contacts. The plan is to move out a 504D this
month to raise $1 million, and to then graduate to a secondary offering by early Spring.
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Question: Will eConnect be compliant by July 1999?
8. eConnect which is the old Betting Inc., will be compliant as a fully reporting company this month.
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Question: Is there a time table for when the eSportsbet.com will be a fully functional internet site?
9. eSportsbet will be a fully functioning Internet site by March. It will be eSportsbet.com.
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Question: Will it be eSportsbet.com or eGaming .com? Will the site be a casino/sportsbook operation vs just a home page?
10. The site will be a fully functioning sports bet site. eGate will be routing any PERFECT transactions by way of ET&T to eSportsbet.com.
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Question: Is there a strike price for the private placement offering?
11. The present offering is 35 cents per share for one 144 stock share plus the option for two free trading shares that can be picked up from eConnect at 35 cents each, beginning in May 1999 and ending
December 31, 2000. This particular offer ends on 1/11/99. The next offer will be a higher option price and set strike dates until 12/31/99.
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We will be releasing a follow up press release on Monday. We will keep it simple and straight forward. I apologize that I did not call you on Friday morning to tell you that we decided to wait until Monday for the next PR.
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Thanks for all your great work.
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GO BETT!
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Tom
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rick f, I will try to find out if we are involved with Ebet (akajas virtual gaming). I don't think so, but we should know for sure.
Go BETT!!! Scobbey
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