To: Fli-by who wrote (3420 ) 11/6/1999 10:18:00 PM From: Jack Hartmann Read Replies (2) | Respond to of 18222
Chart does look good. But I have some questions. From the SEC report. "The Company is developing the software to facilitate off-site betting transactions through ATM cards or smart cards. The Company will act as the interface that will communicate data to the gaming operators, receive back their acknowledgement of the transaction and then pass on the gaming acknowledgement to the customer and the bank host processing center." 1) Does this company have any customers? 2) Is this software for sale? "The Company to date has not received any communication from the SEC with regard to these late reports." I haven't seen an update yet. 3) Is the SEC matter resolved? "On August 19, 1999, a Canadian investment firm threatened to file suit against the Company in connection with providing certain funds to the Company in the amount of $500,000 in connection with debenture monies received subsequent to December 31, 1998 (funds received were $417,500, net of a $82,500 fee). The Company intends to vigorously defend any such action and to pursue applicable counterclaims under federal securities laws and regulations. Because no formal action has been taken on the threatened litigation, Company counsel is not able to opine on the matter. A liability of $500,000 was recorded when the funds were received and is so included on its 10QSB filed for the period ended June 30, 1999." 4) Is the lawsuit resolved? "The Company entered into an agreement to lease an office facility on a month-to-month operating lease beginning June 15, 1999. The actual base rent is $1,475 per month" 5) Why month to month? As a manager in IL, we do five year contracts. 6) How many employees do they have. Looks like three from the financial data. The PR's are good but many BB stock's are. The PR's and the SEC filings are like reading two different books. Company has links to Nevada. Too many BB busts are from there. Nothing on Hoovers which is odd. I'll watch this for a while to see if it does another jump and a collapse. Jack