(BSNS WIRE) Go Call Inc. Reports First Profitable Quarter: Earns Net Inc
Go Call Inc. Reports First Profitable Quarter: Earns Net Income of $280,213, or
$0.014 Per Share, for the Quarter Ended June 30, 1999
Business Editors
NEW YORK--(BUSINESS WIRE)--July 21, 1999--Go Call Inc.
(www.goca.com) (OTC BB:GOCA) reported that for the three months ended
June 30, 1999, the casino managed by Go Call reported gross wagering
receipts of $14,707,118, which, together with Go Call revenue from
other operations of $128,496, resulted in net income to Go Call of
$280,213, or $0.014 fully diluted per share.
Comparable results for the three months ended March 31, 1999,
were $10,717,129 in gross wagering receipts to the casino and $464,506
in Go Call revenue from other operations, which resulted in net loss
to Go Call of $320,673, or $0.016 per share.
Go Call is also disclosing its six-months results since it
intends to file Form 10SB to become a fully reporting company subject
to the Securities Exchange Act of 1934. For the six months ended June
30, 1999, gross wagering receipts to the casino were $25,424,247,
which, together with Go Call revenue from other operations of
$593,002, resulted in net loss to Go Call of $40,460, or $0.002 per
share.
The financial information disclosed in this release does not
include results of operations of Go Call's 92 percent-owned
subsidiary, Country Star Restaurant Inc., or the effect of a one-time
gain of $500,000 on the pending sale of Go Call's Caribbean Resort in
the Dominican Republic.
Go Call is an Internet and telecommunications service company
specializing in e-commerce. Its services include Internet management,
licensing of online casinos, a banner-ad network, a paging service,
the development of a comparison-shopping search engine and Internet
kiosks.
Go Call's competitors within the Internet gaming market include
Cryptologic (OTC BB:CRY), Starnet Communications (OTC BB:SNMM),
Atlantic International (OTC BB:AIEE), Youbet.com (OTC BB:UBET),
GalaxiWorld.com (NASDAQ:GLXW), GIC Global (OTC BB:GGNC), First
Entertainment (OTC BB:FTET).
Some paragraphs of this news release, particularly those
describing Go Call's strategies and business plans, contain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. While Go Call is working to achieve
those goals, actual results could differ materially from those
projected in the forward-looking statements as a result of a number of
factors, including difficulties in marketing its products and
services, need for capital, competition from other companies, and
other factors, any of which could have an adverse effect on the
business plans of Go Call, its reputation in the industry or its
expected financial return from operations. Factors such as these could
have an adverse effect on Go Call's results of operation. In light of
significant uncertainties inherent in forward-looking statements
included herein, the inclusion of such information should not be
regarded as a representation by Go Call or any other person that the
objectives and plans of Go Call will be achieved.
--30--tjm/la* mra/la
|
