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Microcap & Penny Stocks : GGNC - GIC/Global Intertainment Corporation -- Ignore unavailable to you. Want to Upgrade?

To: hammer who wrote (2258)	3/18/1999 12:38:00 AM
From: Lennart Steiner	Respond to of 2585

Hammer, Thanks a lot for your report and the very important clarification on the Price Waterhouse issue you stated on RB. I hope you don't mind if I copy it here. Just to save you some time late at night. By: hammer500 Reply To #3997 by maggiemaus Thursday, 18 Mar 1999 at 12:21 AM EST Post # of 4002 Hope this helps. Price Waterhouse is currently working on the acquisition deal - it should be complete any day! The new CFO is currently undertaking the preparation for the audit - basic house keeping tasks are in need of tremendous organization. The actual GGNC audit will commence when she gets it all ready - James has said PW has commited but they have no letter of engagement yet. They understand the importance of a letter of engagement to us shareholders and will attempt to get one. I'm no CPA (perhaps someone could clarify) but it sounded to me like they wanted to see some progress with the new in house CFO before offering aletter of engagement. The needed to know that the books would be in a specific updated form - once the engagement letter is cut they would be forced to finish the audit. So, in summary, they have committed so long as GGNC can get things organized for them to begin. (which is rapidly happening

To: hammer who wrote (2258)	3/18/1999 12:41:00 AM
From: Orwell	Read Replies (1) \| Respond to of 2585

Quick SNMM vs GGNC question. SNMM is the technology leader, they have their own casinos, they have the horse-racing (and DailyRacingForm, of whose deal with GGNC must not have been exclusive), they have our favourite Japanese game, they have the Sports Betting, they have many many casino sites who license their gaming software at hefty percentge royalties, and many more coming on all the time, and they have the very lucartive porno sites. But SNMM only has a very credible $3million in revenues for the past quarter. So, HOW IS IT THAT GGNC, who only has one casino, has $7million in sales for ONE MONTH? How can a very "distant second" casino, with no technology of their own, have 5 times the revenues of the number one casino, who also also makes and sells the software, and who makes money from those lucrative porno sites? Does GGNC really have the sales they claim? O.