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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Rande Is who wrote (7374)	8/19/1998 8:03:00 PM
From: Steven G. Trapp & Company	Respond to of 25711

Europa Cruises Corporation Announces Second Quarter Results PR Newswire - August 19, 1998 16:37 MADEIRA BEACH, Fla., Aug. 19 /PRNewswire/ -- Europa Cruises Corporation (Nasdaq: KRUZ) today announced operating results for the second quarter of 1998. The company reported pretax profits of $252,922 and net income of $198,649, after preferred dividends, for the three months ending June 30, 1998. Earnings before interest, taxes, depreciation and amortization (EBITDA) were $1,726,757 for the six months ending June 30, 1998. Deborah A. Vitale, President and Chairman of the Board of Directors commenting on the operating results for the second quarter stated: The Company is pleased to report a profitable quarter, despite yet another proxy contest, strong competition in all three of its ports and a poor June performance. Especially disappointing were the June 1998 results in Ft. Myers, which has historically carried the Company in the past. Ft. Myers lost approximately $258,000 in Jung as compared to an average monthly income in 1998 of $202,000, resulting in a huge swing in operating results of approximately $460,000. In addition, gaming revenues dropped significantly in June as a result of a poor hold during the month. The Company's new management team, which has made significant strides in the company's Miami and Madeira Beach operations by cutting expenses and increasing revenues, will now be overseeing operations in Ft. Myers. Europa Cruises Corporation is one of the largest off-shore gaming operators in the United States. It currently employs approximately 400 employees and owns and operates gaming ships out of ports located in Miami Beach, Ft. Myers, and Madeira Reach, Florida. In addition to blackjack, poker, slot machines, craps, and sportsbetting, the cruises offer fine dining, dancing and entertainment. Europa Cruises Corporation, through its wholly owned subsidiary, Casino World, Inc., intends to develop a destination casino resort and hotel at its 404 acre site in Diamondhead, Mississippi. The site, located immediately off Interstate 10, is adjacent to a site on which Circus Circus Enterprises, Inc., also intends to develop a destination Casino resort and hotel. EUROPA CRUISES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended June 30, 1998 1997 Revenues Gaming revenue $3,475,343 $3,897,462 Passenger fares 749,200 809,891 Food and beverage 265,455 360,547 Subcharter fees 406,000 55,000 Other 75,768 242,683 4,971,766 5,365,583 Costs and Expenses: Vessel operating 3,136,270 3,166,767 Administrative and general 548,013 541,770 Advertising and promotion 218,559 439,031 Depreciation and amortization 597,013 468,189 Nonrecurring sales tax settlement -- 1,284,664 Interest, net 141,777 193,490 Other operating 77,212 365,903 4,718,844 6,459,814 Net (loss) income 252,922 (1,094,231) Preferred stock dividends (54,273) (52,825) Net (loss) income applicable to Common stock $198,649 $(1,147,056) Net (loss) income per common $.01 $(.05) Weighted average number of common and common equivalent shares outstanding primary and fully diluted 23,598,440 22,755,718 EUROPA CRUISES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Six Months Ended June 30 1998 1997 Revenues Gaming revenue $7,012,969 $8,238,361 Passenger fares 1,520,717 1,945,519 Food and beverage 495,249 749,135 Subcharter fees 406,000 55,000 Other 164,506 441,926 9,599,441 11,429,941 Costs and Expenses: Vessel operating 6,138,568 6,569,601 Administrative and general 1,074,040 1,128,963 Advertising and promotion 501,783 853,640 Depreciation and amortization 1,089,075 924,608 Nonrecurring sales tax settlement -- 1,284,664 Interest, net 345,573 424,392 Other operating 158,293 649,850 9,307,332 11,835,718 Net (loss) income 292,109 (405,777) Preferred stock dividends (108,546) (99,712) Net (loss) income applicable to common stock $183,563 $(505,489) Net (loss) income per common $.01 $(.02) Weighted average number of common and common equivalent shares outstanding primary and fully diluted 23,145,135 22,302,413 SOURCE Europa Cruises Corporation /CONTACT: John R. Duber, Director and Director of Investor Relations of Europa Cruises Corporation, 440-331-0194 or 440-331-0195; or Alan R. Woinski, President of Gaming Venture Corp., U.S.A., 201-947-4642, for Europa Cruises/ (KRUZ)

To: Rande Is who wrote (7374)	8/19/1998 11:42:00 PM
From: Jack of All Trades	Read Replies (1) \| Respond to of 25711

You tell me.... Message 5543756 Message 5543793

To: Rande Is who wrote (7374)	8/20/1998 8:34:00 AM
From: Rande Is	Read Replies (1) \| Respond to of 25711

Answer: The corporate headquarters of CNHH was changed to Mark Pierce's law office. At the same time CNHH employed Pierce as a "consultant" for a handsome sum. Pierce was likewise on the board of directors of CNHH. I'd say there was a bit of a connection. The "spirit" with which the Greek shipping scenario was written was one of suspicion, with regards to figuring out why the halt. Just as we suspect that Clinton may have lied about more than just Monica, we suspect that some of these officers may have lied [in SEC filings, press releases, etc]. The SEC will sort that part out. The rest of the report went to character. When it comes to buying such a risky venture as a penny stock, we must have basically two things: 1. Trust in the company, it's filings, officers and press. 2. And hope that not only what is projected will actually come true, but that somehow that it will be reflected in the value of the stock. One cannot [or should not] exist without the other. A fool and his money are soon parted [proverb]. We can hope all we want that what they say is going to make the company valuable will come true, but once their word is proven dubious once, then all else comes into question. A quick glance at the SEC, FTC reports posted regarding the history of the principals and a shadow of doubt SHOULD be raised on all counts. Would you buy a used car from a known flim flam? Yet people still think they can win the 3-card shell game on the streets of NY. Somehow we simply become blind or deaf or just dumb to what we don't want to hear, see or know. We skip right to the hope and ignore the trust. There are 10,000 penny stocks. Can you pick which one will make it from .25 to 10.00 with regularity? If you can, you are either doing an extreme amount of homework or something illegal. Generally speaking, we narrow the choices and make a guess. Then if an internet personality says that he is buying WXYZ and holding it until it reaches 20.00, we want to think that our choice has been verified. Our CONfidence has been raised. The more that come to verify, the more CONfidence we get. Then when the stock drops 25, 50, 75 percent and the personality says they are "still holding", we want desperately to believe them. Otherwise the unthinkable would be the case . . . we would be alone. Nobody wants to suffer alone. That is one of the reasons boards like Silicon Investor prosper. My hope is that we learn to apply strict discipline BEFORE we spend a penny. I also hope we are wise in the choices we make and that we never use monies that could be used to help our "real world" financial status. But rather set aside a tiny amount for the gamble. These pennies are NEVER to be considered investments. They are merely gambles that we think we have correctly picked that one-in-ten-thousand that will make it. Maybe the next pull of the lever will win the jackpot. So sorry . . . . . . perhaps the next pull? Rande Is