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To: blessed who wrote (7205)	11/24/1998 7:05:00 AM
From: blessed	Read Replies (2) \| Respond to of 8835

Here's the interview: Interview with CEO: James Chu, President GGNC Interviewer: Michael A. Furr, President Wall Street Research Group Date: November 12, 1998 Place: Telephone conversation Question: Mr. Chu, why should Investors invest in GIC Global ? Answer: I believe our Company has a tremendous future for several reasons. We are involved in one of the oldest and most profitable industries in the world which, of course, is gambling and we have married that business with one of the fastest growing and hottest industries in the world today...the internet! Combine that with our state- of-the-art proprietary technology and our ability to bring gaming of all kinds together, including casino games, all kinds of sports betting, including horse racing, to this emerging multi-billion dollar industry called the internet and you've got a Company that has unlimited potential for growth in revenues, profits, and share price appreciation! Question: James, how do you rate your chances for success in this new industry to that of your competitors? Answer: I believe that we have just as good an opportunity to be a huge force in this exciting new market as anyone else! We are in a dynamic, fast moving arena and no one company has a dominant market share yet. That is to say that there are several companies just as new as ours out there who are just beginning. I honestly think that we have the opportunity to gain a major foot-hold in this industry in the coming months. I am proud that we have already been ranked the number one gaming site on the internet by several industry watchers! And we have alot more technology and proprietary marketing products and programs to roll out this year and next. I believe that a dominant company will emerge in the coming year in Internet gaming and we plan on being that company! Question: We have seen and heard alot of different numbers referencing revenues and profits. In my analytical report I talk about your revenues and profits, but there seems to alot of confusion as to the amount being wagered being defined as " revenues or sales". Will you please explain how revenues are obtained and defined and explain about profit margins involved in casino games versus the sports book and the yet to be opened horse-racing? Question: Exactly how do the revenues and net profits break down? Answer: First, let's talk about the various ways revenues are generated and the issue of wagering or the "handle". Casino revenues: our revenues come from a gross percentage of ALL BETS WAGERED (the "handle") on our online gaming casino. In other words, the handle is the total amount of all monies wagered. The handle is NOT our corporate "gross revenues"! Our "house" makes a certain percentage of all wagers, which include sports book, casino games, horse-racing, etc. This house percentage varies depending on the type of game being played. It can, for example, be in the range of 3% to 5% for various casino games to the 15% to 20% area for various sports and horse-racing bets. Let's say for purposes of an illustration that the total "handle" for a particular month was $10 million. Now our "house percentage" on that month's handle may have averaged 6%, so we have "gross revenues" of $600,000 for that hypothetical month. From that gross revenue, we subtract various operating expenses such as insurance, salaries, utilities, etc to arrive at a net income figure for our Corporation. Mike, your 1999 revenue estimate of $40 million seems perfectly reasonable and attainable to us at this time. In fact, it may prove to be quite conservative. Let's hope so! Question: When do you plan on becoming a "reporting Company"? Answer: We anticipate filing our Form 10 with the SEC prior to the end of this year! Question: What about NASDAQ listing? Answer: We believe that we will qualify for NASDAQ by mid 1999 and therefore, we are optimistic of attaining a NASDAQ listing prior to the end of next year. Question: How many shares are currently outstanding and of these, how many are controlled by management, insiders and/or friendly hands? What is your total "authorized shares"? Answer: We currently have about 11.5 million outstanding, of which management owns approximately 20% and 70% is held by "friendly " hands and insiders. Our authorized number of shares is 25 million. Question: Why have the outstanding shares increased over 5 million in the past couple of months. Many investors are expressing concern about "dilution"! Answer: We have had to raise some money which we felt was necessary and important for our Corporation to gain a more dominant foot-hold within our industry. Unfortunately our share price happened to be in a very depressed area, but we made a decision that rather than wait until our shares increased to a more appropriate level, we would be much further ahead by raising the money now and putting our programs and marketing strategies into effect rather than waiting. In the final analysis, we believe that our earnings per share will be further ahead one year from now because of the monies we are expensing today to further our business. In other words, we believe that this so-called dilution will result in higher earnings per share next year and consequently, higher share prices for all of us!! As I said, Mike, we are in a very competitive and fast moving industry and we plan on being the dominant player! I don't think anybody will be complaining one year from now if our share prices are substantially higher than they are right now. Question: Do you care to hazard a guess as to where GGNC might be trading at the end of 1999? Answer: Mike, you know that would just be wild conjecture on my part, but I will say this. In your Wall Street Research Report, you made various projections about future revenues and earnings projections. I have reviewed those projections and am comfortable that they are not only realistic, but very attainable. Your report calls for our EPS next year to be 84 cents. Put a PE multiple of 10 on that figure and we'd have a stock trading over $8 per share. Where will our stock be? I don't know and I can't say. I just believe that it will be trading much higher than the current price of 17 cents! Question: James, thank you for your time. We'll be asking you further questions in the coming weeks and months and will continue to update and follow your remarkable progress. Answer: I certainly appreciate your confidence in us, Mike. We are working hard to establish a position as the world's leading internet gaming company. We believe we will have thousands of very happy investors in the years to come. I look forward to our next interview.