To: Bob Davis who wrote (6268 ) 8/11/1998 11:36:00 PM From: Michael Graham Respond to of 8879
Bob, You stated "The July 7th press release was headlined "Global Games Corp. Signs Preliminary Agreement With Commonwealth of Dominica, West Indies", when in fact, no such agreement had been reached." I believe that Mr. Timothy saying no agreement has been signed is like president Clinton saying he did not have sexual relations with Monica. Mr. Timothy did not say that no preliminary agreement had been signed. It may sound like a minor point, but remember that Mr. Timothy is a politician. I recently visited you web site and checked out what you had to say about GLOW and found this:"There are a limited number of reasons why an accounting firm is not able to complete an audit - and none of them are the result of "good news". In fact, many of the reasons revolve around whether the company being audited can be classified as a "going concern". You are categorically stating that a delay in an audit CAN'T be the result of "good news". That statement CAN'T be true! That is a very biased statement. I thought you were supposed to report facts? Did you call either GLOW or the accounting firm to find out why there is a delay? I'm not saying that it isn't questionable news or even bad news. I don't know the reason for the delay. However, I would not imply or insinuate that the reason for the delay is because GLOW is having significant business or financial problems. Unless, of course, I wanted others to believe that. Once again, how can you make statements like that and expect shareholders NOT to strenuously disagree with you and your slanted view? Unless you had proof, why would you state something so inflammatory? BTW - You expect GLOW to correct a "mis-statement", yet you refuse to admit or correct your own: >>>> If you do you will see a HTML link to the July 30th GLOW press release. Mr. Julius Timothy is specifically refuting GLOW's July 30th press release. I'm sorry but I had already looked at that specific issue before I ever made my first post. I specifically wanted to make sure exactly "what" Mr. Timothy was refuting. <<<< and >>>> Further, it fairly evident that the Commonwealth of Dominica is not expecting to receive $9,000,000 as its portion of the proceeds from the GLOW relationship. In fact, their expectations from their existing licensing agreements with the six internet casinos which are domaciled there is only EC$3,240,000, or about US$1.2 million in the coming year. Since the Commonwealth is planning a bond issue to raise about US$7.4 million for housing (yes, I actually read the local papers down there...) the sudden arrival of US$9.0 million would create a bit of excitement. Since that "excitement" has not been reported in the local press, it seems safe to assume that there is nothing here to get excited about. <<<< Everyone is fallible. Why do you refuse to admit making a mistake? It's not easy to do, however, it is the responsible thing to do. As my mother-in-law once said "I'm very disappointed in you." Mike