To: SCOOBEY-DO (847 )
From: ocmayor Sunday, Jan 10 1999 7:36PM ET
Reply # of 2338
Here is some more great news from Econnect's (BETT) Tom Hughes.
To answer your first question about the free trading options and 144
stock purchase:
1. Until 5PM January 11, you can purchase one share of Rule 144
BETT stock share from us for 35 cents. For each 144 BETT share, you
will receive two options that can be exercised at 35 cents each from May
1,1999 to December 31,2000. These options will convert into free trading
shares that you can immediately move into the stock market.
Let's say BETT is trading at $3 per share by May 1. We have to sell one
BETT share to you for 35 cents. There are no strike dates,and you can
exercise all your options at once or a just a few.
For Example: The minimum purchase is $2,500. This will give you 7,142
shares of Rule 144 BETT stock that can not be traded for 12 months. You
also receive 14,286 FREE TRADING options that can be exercised for 35
cents each from May 1,1999 to
December 31,2000.
If you wish to exercise 500 options on May 5, and 4,000 more options
on September 2 or an any day... that is your choice.
Yes, Jim, we have large blocks of private placement available and we
will finish the 10K filing this month.
On January 12, we will be increasing the options price for anyone who
invests after January 11. I will be traveling tomorrow,so call me at
310-541-4393 if you wish
to purchase and I will call you back the same day.
Keep in mind that when you buy on the open market today, eConnect does
not receive any cash but we do receive market cap value. By purchasing
directly from us, we gain the cash as working capital. Both aspects are
vital to
the long term plans of eConnect.
2. VIP Sports has agreed to be serviced by eGate for PERFECT wagers
and we will be putting out that press release this week.
Additionally, we will be acquiring a software application that will
fundamentally simplify internet gaming. We will have more details to
the thread by mid week.
3. We would appreciate everyone keeping alert for potential partners,
alliances
and PERFECT competitors (right now, I am not aware of any) and emailing
the information to me so we can stay on top events.
4. Our goal is to be NASDAQ trading by September 99. When you buy in
the market
HOLD your stock until September 99. Then, in September, sell off 50% at
extremely attractive share prices. If you also are holding 144 stock
plus free trading options,
then you have a strong hand. The less stock available for the market
makers, then the higher they go on the BID. The higher the BID, the
more eConnect can ask for
a secondary offering and the higher our market cap value which then
allows us to sit down with strong strategic partners, which of course
raises the BID higher etc.
Thanks for everyone's interest and if you would rather a private email,
just let me know for future communications.
Tom
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