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Microcap & Penny Stocks : WINR-Secure Banking to Global Internet Gaming & E-Commerce -- Ignore unavailable to you. Want to Upgrade?

To: mentz who wrote (5980)	11/1/1999 11:50:00 AM
From: Dave Gore	Read Replies (2) \| Respond to of 6545

**WINR SITUATION ON FILING AND NEWS Here is the simple explanation of what is going on for those frustrated or curious. The firm they hired to take all the audited information and material that WINR has prepared and complete the Form 10 (which is about 200 pages long) is handling a couple of other clients first who are in danger of delisting. WINR is not in danger of delisting since June 2000 is their compliance date. While the delay is certainly not making WINR happy, the firm has assured them that they will get to them in the next couple weeks and possibly sooner. Who knows, as it largely depends on what the SEC comes back to the firm with in the way of comments for these other clients. Apparently there is one client in particular that this firm needs to get out of the way and then it will take just a couple days to finish WINR's form 10's and submit them. In case you are wondering, this firm has already done some considerable pre-filing work for WINR and for WINR to switch firms at this point would delay things a couple months. Of course that makes no sense, especially since this is an experienced firm. The point is that WINR, in my mind, has done everything we could ask of them in preparing all their documentation for this firm and their only mistake was perhaps hiring a firm that has had to put them off in favor of a client or two who are desperate to avoid delisting. However, for those that don't know, it is a crazy situation out there with many frantic BB companies at this point. At least WINR hired a competent firm it appears who is experienced, so it should get done right. While I don't like it, I am not going to overreact to it either. The main point is that WINR is obvioulsy in no danger of delisting, which is more that many BB's can say. The other point that needs to be made is that while we may see news shortly, it is unlikely that we will see news of a contractual nature until the Form 10's are submitted. This is because WINR cannot mention any dollar amounts or projections in the PR, since this will force them to alter all the audited paperwork that has already been completed for the Form 10 filings. Once the forms are submitted, then contractual terms mentioned in PR's can freely be announced. However, that does not mean we won't see PR's of a non-contract nature this week or soon. Could contractual news or third quarter earnings already be ready and waiting to be released as soon as the Form 10's are filed? Yes, that's likely. Personally, I don't see anything to worry about here. I am pleased that WINR has done their job of preparing the audited information and is not in danger of delisting. This has never been a short term play for many of us, so we buy more and hold. Others who are frustrated or don't understand the intricacies of being a BB company and facing many obstacles which inevitably delay things are free to sell. It just makes the stock cheaper for the rest of us. With the stock at Spring 1998 levels before they had any contracts, I am satisfied this is a pretty safe area to invest. Good luck all, DAVE