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Non-Tech : Starnet (SNMM)Online gaming, sexsites, lottery, Sportsbook -- Ignore unavailable to you. Want to Upgrade?

To: Techplayer who wrote (4151)	7/30/1999 6:08:00 AM
From: LORD ERNIE	Read Replies (2) \| Respond to of 8858

NEWS News article received, Friday, July 30, 1999 5:47:10 AM EST Internet Stock News Announces Investment Opinion: ISN Update 7/30/99 SAN DIEGO, Jul 30, 1999 (BUSINESS WIRE via COMTEX) -- Internet Stock News(TM) July 30, 1999 Insight For The Intelligent Internet Investor To Subscribe to Internet Stock News for FREE: Visit internetstocknews.com Or send e-mail to join@isnweekly@earth.lyris.net In our last issue, we mentioned that the markets would remain choppy as companies continued to report earnings. Choppiness is exactly what we had, as the major averages finished almost unchanged from the previous week. It was the between times that gave us the grief! Now that earnings season is almost behind us, we find very little fundamental changes to the investment climate. The Bears keep warning while the Bulls keep hyping. Meanwhile, the U.S. Government appears to be in a position that is best for the markets: gridlock. Attention is being focused on the "problem" of dealing with the presumed Government surplus. As may be expected, the Republicans wish to refund the money to the people in the form of tax cuts while the Democrats wish to increase social spending. Alan Greenspan clearly favors reducing the Government debt first but has a slight preference to reducing taxes next -- clear signs that the bickering in capital hill will continue long enough to keep government from seriously damaging the markets. First and foremost, one of the most talked about Internet stocks this week, Starnet Communications International (OTCBB:SNMM) has announced its long-awaited earnings. Starnet reported 4th Quarter Revenues up 236% to $3.8 million. Basic and Diluted Q4 '99 Earnings were $.03 per share compared to a loss of $.01 per share in the same quarter last year. Net income for Q4 was $803,000, compared to a loss of $141,000 for Q4 1998. For the year ending April 30, 1999 revenue increased to $9.77 million from $3.37 million in the year preceding. Net Income increased to over $2 million compared to a loss of just above $1 million in the year preceding. Cash and cash equivalents increased to $5 million from $140, 000 in the year preceding. Working Capital increased to over $7 million from a negative amount in the year preceding. Lastly, total Assets increased to over $13 million from just above $3.2 million in fiscal 1998. We listened to Starnet's conference call and were extremely excited about their CEO's comments about future growth in the Pari-Mutuel area, the possible sale of their adult entertainment business, as well as their upcoming Nasdaq listing. In addition, we were elated to hear that the company has hired Investment Banking Firm Nesbit Burns to raise Starnet $30 million via a private financing. We strongly suggest that you all listen to the replay of Starnet's conference call. The CEO, Mark Dohlen answers almost every question we could possibly imagine about the current and future state of the company. Call 800/252-6030 or 402/220-2491 from outside of the U.S. The conference code which you must provide is 4661436.