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Microcap & Penny Stocks : GLOW - Global Games, Inc. - Great Profit Potential ! -- Ignore unavailable to you. Want to Upgrade?

To: Phatt Jake who wrote (8064)	12/3/1998 3:06:00 PM
From: BigRedMan	Read Replies (3) \| Respond to of 8879

Phatt, You're busted! Please report promptly to the forum police! GO BIG RED!!!

To: Phatt Jake who wrote (8064)	12/3/1998 3:16:00 PM
From: Morag	Read Replies (1) \| Respond to of 8879

To all: a related article on the competition that may be of interest it appeared today in the Financial Post a Canadian financial newspaper written by Ian Karleff. Glow seems to be in much better shape, recent solid performance and beginnings of a turn around. JMO CLC Ltd.'s delay-plagued Galaxiworld Ltd. online casino has opened for business, amid a feeding frenzy for companies with the slightest relation to the Internet. GLC shares (GLCCG/NASDAQ) were swept up by Internet mania, soaring 400% this week from Friday's close of $5.00 to hit $25 on Tuesday. They plunged $9 1/2 yesterday to close at $15 3/4. GLC says it is now taking wagers on its Internet site, www.glaxi-world.com in the form of chas, credit card or wire transfer payments. The Casion is based in the Caribbean island of St. Kitts. David Dvorchik, research director at Taurus Capital Markets, said the stocks recent rise is "probably a little bit of Internet craze and a fair amojnt of promotion. Investeors seem to care little about GLC's troubled history, which is chock full of lawsuits, name changes, regulaory wranglings and a wishy-washy business focus.....The company no longer trades on the TSE after it requested to be delisted, effective July 2, 1998. It said the decision was based on its desire to "save on compliance and listing costs". the firm's shares were then consolidated on a seven to one basis in order to maintain the Nasdaq's listing requirement of a minimum share value of $1. GLC announced on Sept. 28 a decision to move its corporate head office from the "gaming unfriendly" Tortola, BVI to Gilbraltar, accompanied by a name change from its second moniker, Gaming Lottery Corp.Before Gaming's decision to delist from the TSE, the exchange had refused to grant it permission to pay a dividend to shareholders in the form of privately traded Online International Corp. Part of the exchange's refusal came from the TSE's inability to contact the firm at its Tortola, BVI headquartners after leaving number messages.......Another analyst, who asked not to be identified, said it was strange that a firm would be allowed to promote an online casion to US residents without a licence to run a casion in the US. He also questioned the firm's most recent financial statements for the third quarter ended Oct.98. Under laiabilities, a $25 million dividend is listed as owing, but nowhere does it state to who, or what it is owed, nor does it appear in previous financial statements.... The analyst said the firm's number of shares outstanding also varies dramatically from staement to statement, depending on private placements that occur in each quarter.The lates number of outstanding shares was at least 12.2. million up from 3.5 million in the year ago period.Still,the figures are difficult to confirmwithout speaking to Mr. Weltman, who is expected to make an appearance on the influential Squawk Box program on CNBC television this morning. Also needing some further explanation is the status of a number of lawsuits against GLC. Kendall Satterfield, a lawyer at Finkelstein Thompson & Loughran in Washington, confirmed that a class action lawsuit filed against Gaming Lottery is still being negotiated. Other class actions, allegations by Bank Leu AG of a fraudelent share certificate issued by Gaming, and a $21 million lawsuit by two Ontario companies alleging breach of contract and copyright infringement, are also still outstanding.