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Microcap & Penny Stocks : Advance Gaming Technologies Inc. (AGTI) -- Ignore unavailable to you. Want to Upgrade?

To: Hardrocker who wrote (1941)	4/14/1998 9:31:00 PM
From: ROSARIO	Respond to of 4539

Thanks, my problems arose with IR dept not AGTI, With CCEE its the top two officers!! We call them JR and SR as they are Father & son team!! They felt the heat when an attorney started impeachment proceedings via a certified letter to the board. It had the desired effect in a very short period of time!!! BEST REGARDS

To: Hardrocker who wrote (1941)	4/15/1998 6:04:00 PM
From: tgs59	Read Replies (2) \| Respond to of 4539

10K has now been filed. I would certainly suggest a very careful read of this document. I was not aware until today, that AGTI had sold an 18.75% interest in Sonic Bingo to another entity in its attempt to raise cash. AGTI's ownership of this product appears to be very limited. The same goes for the Parti MAX, in that AGTI sold a 15% interest to this same entity (Fortune entertainment Corp.). The company has a large number of lawsuits pending including suits filed in Feb. & Mar. of this year pertaining to defaults of certain convertible debentures. The company dropped the exercise price of options to its executives from $.26 - $.30 per share to $.054 per share. Is this a reward for dissipating all shareholder equity. The company has negative working capital of ten million dollars and negative shareholder equity of almost five million dollars. The negative equity may be substantially more depending upon the real value of intangibles and the MO land. The accountants have also raised the GOING CONCERN ISSUE. Who will lend money to this company? What dilution of existing shareholders will be necessary to induce an equity investment? Revenues from existing product placements are negligible and receivables are very high as a ratio to sales. My sources tell me that a number of these current product placement locations are in the process of replacing the AGTI equipment. Texas has been a non-event thus far. I am not yet aware of a single placement of AGTI equipment in Texas. I do know that BTC is losing some locations that would have been prospects for the AGTI fixed unit product. K & B has not even presented the MAX Lite product to any customer where there has been a competitive situation. Sorry to make such a negative post, but there was not much I would consider positive in this 10K. I have only made a quick pass and sure I will find much more in a detailed reading. I would be very interested to hear a different interpretation than mine. Also, when and where is the financing? Most importantly, what will this financing do to existing shareholders? tgs59