JIMMER; CHECK OUT THIS CHART,
If they have not changed it was showing last trade at a
-.21 cents.. LOL, dumb computers...
clearstation.com
Also read their one sided news, sure will not give the investors any type of profit, what a deal... makes one think of how many true shares can be in one firm... LOL... pure junk IMO....
Found some very nice issues today that are NASDQ, great price with huge funds behind them...
Well have a great day,
Regards,
Jim......
P.S. EDIT....
found the read... THIS ONE ON SI, SAY'S O/STANDING IS 30.98MM,,, IMO, THIS TYPE NEWS WILL KICK THE HELL OUT OF 'BB' STOCKS IF YOU CAN'T TRUST WHAT'S IN THE O/S AND FLOAT NUMBERS.... WELL IT'S AN HONEST OPINION... WHAT DO YOU THINK???
Silicon Gaming in Discussions With International Game Technology Regarding Merger Transaction
PALO ALTO, Calif., Oct 25, 2000 /PRNewswire via COMTEX/ -- Silicon Gaming, Inc. (OTC Bulletin Board: SGIC.OB chart, msgs) reported today that it is engaged in discussions with International Game Technology (NYSE: IGT chart, msgs) concerning a possible business combination pursuant to which Silicon Gaming, Inc. would be merged into a subsidiary of International Game Technology. No definitive agreement has been reached, and it is not certain whether the parties will reach a definitive agreement. If an agreement is reached, it is also uncertain whether all necessary gaming approvals, regulatory approvals, third-party consents and other closing conditions will be satisfied.
Under the terms of the proposed transaction, the total consideration paid by International Game Technology would be $45 million, with this amount increased by the amount of certain Silicon Gaming's current assets on hand at closing and reduced by the amount of all indebtedness and other liabilities of Silicon Gaming at closing, including any unpaid Silicon Gaming transaction expenses.
The per share amount of the adjusted purchase price would be received by shareholders of Silicon Gaming, Inc. (including holders of preferred stock who would participate on an "as converted" basis) in a cash merger transaction. After giving effect to the conversion of Silicon Gaming, Inc.'s preferred stock and the exercise of outstanding options and warrants, it is anticipated that there would be in excess of 280 million shares of common stock outstanding at the time of closing of the proposed transaction. Based upon Silicon Gaming's current assumptions, it is estimated that the per share merger price would range from $0.075 to $0.095 per share. This estimate is based on a number of uncertainties, however, and there can be no assurance that the amount of per share consideration will fall within the estimated range set forth in the preceding sentence.
As part of the proposed transaction, International Game Technology would also receive a 5% interest (on a fully-diluted basis) in WagerWorks, a majority-owned subsidiary of Silicon Gaming. Silicon Gaming is evaluating various options regarding its remaining 51.6% interest (on a fully-diluted basis) in WagerWorks.
Silicon Gaming, Inc. designs and manufactures a full line of innovative wagering products, including the "Family Feud Wagering Attraction," and an extensive library of game applications including "Phantom Belle," "Banana-Rama," "Eureka," "Cash Cruise," "TopHat 21" and "Hot Reels." Headquartered in Palo Alto, California, Silicon Gaming's common stock is traded on the OTC Electronic Bulletin Board under the symbol SGIC.OB. For more information on Silicon Gaming, visit the company's website at www.silicongaming.com.
Statements in this release which are not historical facts, including statements regarding the terms of the proposed transaction described herein and the amount of net proceeds expected to be available for distribution to shareholders, are "forward-looking" statements under the Private Securities Litigation Reform Act of 1995. These matters involve risks and uncertainties, including the risks associated with negotiating and documenting a merger transaction, uncertainty regarding the amount of proceeds expected to be available for distribution to shareholders and uncertainties generally associated with the operation of the business of Silicon Gaming, Inc. More information on factors that could affect the business and financial results of International Game Technology and Silicon Gaming are included in their respective Annual Reports on Form 10-K and in their other public filings made with the Securities and Exchange Commission.
Source: Silicon Gaming, Inc.
Contact:
Investor Relations of Silicon Gaming, Inc., 650-842-9000
URL: silicongaming.com
p.s.s. Not a buy reco, and for that matter it's not on my list of anyting. Just reading news and came across something to share. well in my opinion it was worth sharing. |
