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Non-Tech : RIHI - Merger with Internet Gambling Co, - Worldnet Gaming -- Ignore unavailable to you. Want to Upgrade?

To: EL KABONG!!! who wrote (103)	2/25/1999 10:20:00 AM
From: Whisperer!	Respond to of 363

Actually Kerry I am still looking at this thread to supply some due diligence either way. I sure do like the idea of internet gambling and sex sites. They are with out a doubt big hits on the internet. I believe a good business plan and good management could produce some stellar performance. We will have to see how this one unfolds. Based on the news thus far it is simple to gather that RIHI was a shell company. They have merged with World Net Gaming, a private company. The surviving entity will no doubt be a public company call World Net Gaming. Once the company goes through the lengthy process of a full blown audit, then we'll have a real idea of where they've been so we can figure out where they'll go. According to today's news release, and I quote " WorldNet Casinos currently posts revenue in excess of $7 million per month, and is growing at a rate that will attain approximately 5% market share within 12 months." Now if than can be substantiated with an audit and they net 10% or more we may have a serious company on our hands. Remember though audits don't happen over night. That process can take up six months depending on the state of the books and records at the time of the audit. The news release I found was located here: biz.yahoo.com