The pump starts again...
usamedicalinc.com
then...
tscn.com
I wonder what they know...
josephcharles.com
To: Atin Malaviya who started this subject
WHAT ABOUT THIS DEAL? CHECK OUT SFAI.
SecurFone America, Inc. Announces Strategic Alliance With LVEN For Development and Delivery of Wireless, Internet Telephony and Prepaid Cellular Communications Services
Business Editors & Telecommunication Writers
Aug. 3, 1998--SecurFone America, Inc. (OTC BB: SFAI) today announced it has completed a Letter of Intent for a strategic alliance with Las Vegas Entertainment Network (NASDAQ: LVEN) to develop and deploy wireless, Internet telephony and prepaid cellular communications services throughout the world, initially targeting key markets in Brazil.
Demand for wireless communications is growing at a rate that is currently outpacing traditional carriers' ability to deliver service.
LVEN's technology, now under development, will allow the alliance partners to immediately respond to consumer demand by eliminating the time and cost to install a landbased infrastructure. Large communications companies and other service providers in South America have expressed an interest in providing the services of the alliance partners to current wireline subscribers who are today facing up to a year-long wait for wireless service.
Through the planned strategic alliance, certain application platforms and overall management of the technology deployment will be provided by SecurFone America, Inc. "This alliance provides a significant opportunity for our two companies to quickly bring a feature-rich service, using our proven technologies, to a part of the world where mobile communication is in high demand," said Paul B. Silverman, CEO of SecurFone.
The strategic alliance partners are targeting completion of a definitive agreement within the next 60 days, with project efforts to begin fourth quarter of this year.
Las Vegas Entertainment Network, Inc. (LVEN) is engaged in the business of acquiring, developing and operating communications systems and gaming facilities and businesses.
SecurFone America, Inc. founded in 1996, is a telecommunications company specializing in prepaid communications service. SecurFone markets its prepaid services directly under the name Buy-the-Minute(tm). Through its prepaid network product, SFA Network Services, SecurFone offers its prepaid wireless platform to other communications companies on a complete turnkey or component basis.
SecurFone America is an OTC BB stock and trades under the symbol SFAI. The company is based in San Diego.
Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are made based on management's belief as well as assumptions made by, and information currently available to, management pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors.
Profile - Las Vegas Entertainment (NasdaqSC:LVEN)
As of 18-Oct-99
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Address: 1801 Century Park East, 23rd Floor
Los Angeles, CA 90067
Phone: (310) 551-0011
Fax: (310) 551-1942
Sector: Services
Industry: Casinos & Gaming
Employees: 4
Officers: Joseph A. Corazzi, Chmn./Pres./CEO
Carl A. Sambus, Exec. VP/CFO/COO/Secy./Treas.
NO MENTION OF PHONE TECHNOLOGY. <S>
Business Summary
Las Vegas Entertainment Network aquires, develops and operates media and gaming facilities including real estate redevelopment. For the six months ended 4/30/99, the company reports no revenues. Net loss totaled $4 million, up from $1.9 million. Results reflect the inclusion of a $2.4 million charge related to the expiration of the Company's rights in accordance with the Settlement Agreement with ITB, in which all ITB shares were returned for cancellation.
More from Market Guide: Highlights -Performance - Ratio Comparisons
Statistics at a Glance -- LVEN
Price and Volume
(updated Oct 18, 1999)
52-Week Low $0.344
Recent Price $2.969
52-Week High $9.125
Beta 0.85
Daily Volume (3-month avg) 105.0K
Share-Related Items
Market Capitalization $9.98M
Shares Outstanding 3.36M
Float 3.00M
Dividend Information
Annual Dividend none
Per-Share Data
Book Value (mrq) $1.18
Earnings (ttm) -$3.79
Sales N/A
Cash (mrq) $0.05
Valuation Ratios
Price/Book (mrq) 2.52
Price/Earnings N/A
Price/Sales N/A
Income Statements
After-Tax Income (ttm) -$6.90M
Sales N/A
Profitability
Profit Margin N/A
Management Effectiveness
Return on Assets (ttm) -133.40%
Return on Equity (ttm) -170.56%
Financial Strength
Current Ratio (mrq) 0.27
Long-Term Debt/Equity (mrq) 0
Total Cash (mrq) $138.0K
Short Interest
Shares Short
as of Sep 8, 1999 10.0K
Short Ratio 0.17
Stock Performance
Regarding Mr. Brennan and IBD
On November 2, 1995, Robert E. Brennan resigned as Chairman of the Board
and Chief Executive Officer of the Company. Mr. Brennan resigned these
positions at the urging of the Company's Board of Directors based on actions
taken by New Jersey regulatory authorities which oversee the casino and horse
racing industries in the state. The New Jersey Division of Gaming Enforcement
("Division") filed a complaint with the New Jersey Casino Control Commission
("Commission") seeking to prohibit the Company's two racetracks, Garden State
Park ("Garden State") and Freehold Raceway ("Freehold") from conducting
industry business with any casino licensees. Garden State and Freehold
currently receive revenues from parimutuel wagering on races, including their
own, simulcast to certain of the Atlantic City casinos. The Division based its
complaint on the fact that Mr. Brennan, who is also a principal shareholder of
the Company, had been found in a June 1995 decision by Judge Richard Owen of
the United States District Court for the Southern District of New York in a
civil action to be "liable for violating federal securities laws in the years
1982 to 1985." None of the alleged securities law violations involved the
Company, its securities, or its operations. The Division claims that Mr.
Brennan's participation in the Company's racetrack subsidiaries "would be
inimical to the policies of the Casino Control Act" and according to the
Division, this would disqualify him and the Company's two New Jersey racetracks
from continued licensure with the Commission. Mr. Brennan has denied
committing any violations of the federal securities laws and is currently
appealing Judge Owen's decision. The Division subsequently indicated a
willingness to seek to resolve the complaint provided that Mr. Brennan resign
as Chairman of the Board, as a director of the Company and as an officer of the
Company or its subsidiaries and provided further that Mr. Brennan enter into an
agreement which would place his approximately 2,900,000 shares of the Company's
common stock into an irrevocable dispositive trust, which would provide for the
liquidation of all his shares. Pursuant to the proposed agreement, stock
certificates representing all of Mr. Brennan's shares will be delivered,
together with duly executed stock powers, to a liquidating trustee after the
approval of the New Jersey Casino Control Commission and the Bankruptcy Court
overseeing Mr. Brennan's personal Chapter 11 bankruptcy proceeding. The
liquidating trustee will hold the shares in escrow and will vote the shares in
the same proportion as the other stockholders of the Company. The agreement
will require that the liquidating trustee dispose of the shares no later than
October 19, 1997 in the absence of the occurrence of certain events. The
Company, Mr. Brennan and the Division entered into a settlement agreement on
May 31, 1996 as described herein. Said agreement is subject to the approval of
the Commission. The Company was also advised by the New Jersey Racing
Commission, which annually grants permits for the conduct of parimutuel racing
at Garden State and Freehold, that the Racing Commission is considering the
issuance of a Notice of Intention to suspend or revoke the permits held by
Garden State and Freehold based on Judge Owen's decision. At a subsequent
meeting, a representative of the Racing Commission indicated that the
previously described proposed resolution by the Division regarding Mr. Brennan
would be presented to the Racing Commission for its consideration. The Racing
Commission has been apprised of the settlement to be considered by the
Commission and has stated that it will consider it as a resolution of its
concerns. Management believes a settlement will be reached which is beneficial
to the continuation of racing at Garden State Park and Freehold Raceway.
On November 2, 1995, George E. Norcross III (who resigned on April 23,
1996) and Roger Bodman were elected to the Company's Board of Directors filling
the vacancies created by the resignation of Mr. Brennan, who resigned on
November 2, 1995 and Ronald J. Riccio, who resigned on October 27, 1995.
Robert J. Quigley was elected to serve the balance of Mr. Brennan's term as
Chairman of the Board. Mr. Quigley served as Chairman of the Board until May
14, 1996 when Joel Sterns was elected to that position.
Fiscal year end: October
Sales: 0.1
Address:
1801 Century Park East, Ste. 2300
Los Angeles, CA 90067
Phone: 310-551-0011
Fax: 310-551-1942
Sales year: 1998
Sales change: 0.0% (over 1-yr)
Employees: 4
CEO: Joseph A. Corazzi
CFO: Carl A. Sambus
HR: Diane Marquis
The El Rancho Hotel and Casino co-owned by Las Vegas Entertainment Network (LVEN) can't provide any entertainment or networking, but it is located in Las Vegas. The company co-owns the inactive El Rancho with International Thoroughbred Breeders, itself an inactive company. As for functioning businesses, LVEN's CasinoCo subsidiary has an agreement with MG Entertainment to sell video bingo games in Brazil; LVEN is lining up partners for a possible telecommunications venture in that country as well. The company also owns a 75% stake in Electric Media Company, which is developing technology to deliver video, voice, and data over existing power lines.
and finally...
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