To: Jeffrey L. Henken who wrote (532 ) 3/5/1999 11:57:00 PM From: Francois Goelo Read Replies (1) | Respond to of 2662
Jeffrey, important news pending on SNMM that has started a major move... Stock Watcher has included the stock today on its index. I have been long some 4000 shares on this one for a month or so and it has finally started to move. This was picked up on SNMM thread: Investor's Digest latest issue (dated March 12) printed an excerpt from the "International Speculator": Mr. Doug Casey, editor of this advisory, recommends ''with trepidation'' Vancouver-based Starnet Communications(SNMM-NASD-BB, $4), an Internet gaming stock. Mr. Casey explains his use of the word ''trepidation'' this way: In relation to the Internet ''we're in very much the same situation as somebody a hundred years ago who could clearly see that the automobile was going to change the face of the planet. Which of the hundreds of automotive entrepreneurs should you invest in? Since 99 per cent of them eventually went bust, it would have been easy to be right on the trend but wrong on the vehicle to ride it.'' Mr. Casey said he first recommended Starnet at $0.47 and ''notwithstanding the caveats, it is still an excellent buy today.'' Starnet, based in Vancouver, does not trade on any Canadian exchange. It got its start in this country when it launched Starnet Canada, a so- called adult entertainment Internet site. That division is now up for sale. Gambling and smut just don't seem to mix. Starnet's two other divisions are World Gaming Services which operates an Internet gaming service and Softec Systems Caribbean which creates gambling software it sells to others who want to get into Internet gambling. Mr. Casey sees the Softec division as ''the essence'' of Starnet's growth. Buyer's pay $100,000 for the software then a percentage of revenues. Todate there are 20 licensees. Starnet reported net earnings for the Oct. 31 quarter of $247,747, up from $102,000 the previous quarter. Mr. Casey says estimated net profits for the Jan.31 quarter are about US$1 million. ''I suggest you buy the stock up to $5. My target is $10-$20 within six months....This is a stock that will either work, or not, short term. It's not a 'hold and hope' situation.''