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Non-Tech : PSCKF- Playstar -- Ignore unavailable to you. Want to Upgrade?

To: Baddpitt who wrote (6)	4/3/1999 3:28:00 PM
From: Todd Pagel	Read Replies (1) \| Respond to of 26

Reply from Stuart to my questions (reprinted therein): Hi Todd; Thanks for your interest in PSCKE. I will address your concerns below: 1. I am concerned about the symbol change, and the lack of shareholder notification about it. I read that it was the SEC mandated this because of tardy financials. Is this true? Can you please tell me which "financials" these are, and if Playstar qualifies for a 30 or 60 day grace period to remedy the problem? If in a grace period, will Playstar in fact make THAT deadline for filing? What is the status of these financials? ANSWER I have just taken over as CEO. With the Easter weekend, I thought it would give me some to catch up on developments. Believe me, I was just as surprised as you to find that the symbol was changed to reflect our new non-filing status. It is not a major issue and my highest priority is to change this. If you go to stockdetective.com you will get a good overview of why the company was caught unawares during this transition phase. 2. Can you briefly track the history of upper management for me? It seems there was one CEO, then another, etc., all without proper press releases or spin control. Has the company changed focus? What were the circumstances leading to the change in management? Did previous management leave of their own choosing? Has there been any blemishes the previous management might have been responsible for? Why were you, in fact, chosen to head this company? Is your background different from previous management's? Or am I misunderstanding this entirely? ANSWER Upper management (as in board of directors) has not changed for some time. I am simply an addition to this board. What has changed is the software development team. Why? Some time ago, a decision was made to diversify the company's activities. As you may be aware, PSCKE entered into a number agreements whereby it now has access to powerful credit card processing technology. This technology has the potential to represent a significant revenue and profit stream. While it is legal, we will continue to expand Antigua Casino & Sportsbook. I am the new CEO because I have experience in both the credit card processing and gaming industries. 3. Will the acceptance of your new position be announced in a press release soon? Timeframe/date? ANSWER A new press release is anticipated after the Easter Weekend. I anticipate it will be the first of many. 4. How successful has Playstar's licensing program been to date? Number of licensees? Rate of growth? ANSWER I think the concept of "Quick Connect" is brilliant. After some research, I have discovered a few problems that need to be addressed. These problems have prevented the full implementation of the program but we have a few test sites. I have been assured by the new software team that we should be in a position to implement this program within a few weeks. I am revisiting the business plan so will be in a position to answer the second part of your question within a few days. 5. Does Playstar plan to announce earnings soon? What fiscal calendar is being employed? ANSWER I will address all your accounting issues by the end of next week. 6. Are any earnings to be reported to be fully audited? By whom? Is it correct to assume Playstar is fully reporting currently? (Is all information on the Investors webpage still correct?) ANSWER Only the annual filing will be audited. Quarterly filings will be unaudited. PlayStar did not file resulting in a symbol change. This will be corrected. Information on the Web page is correct. 7. This from the last PR of 1/27/99: "Moreover," said Tucker, "it is clear that Cyberstation brings a second generation of casino gaming back office software and systems management that will allow PlayStar to have the most well rounded casino gaming site on the Net. I am very anxious to explore the many licensing opportunities that currently exist in the on-line gaming market.....Joseph Alves of Cyberstation St. Kitts said "I am excited about the prospect of re-focusing the Company's primary thrust into the area of Internet global transaction processing"..."Management has adopted a strategy that will create several marketing teams to deal with different industry segments" How many industry segment marketing teams are there, and how many people are assigned to each? ANSWER There are two teams - (1) NetEngine to address offshore credit card processing and (2) Antigua Casino & Sportsbook. Initially these companies will be managed by one team and as certain milestones are reached, so new teams will be spawned. To facilitate expansion, we will be entering into joint venture programs and partnerships with entities that have both influence and resources to assist our expansion efforts. This strategy is to ensure we minimize fixed overheads and leverage our returns off partner resources. How are resources allocated in regards to the different market segments? Is Ecommerce solutions given more weight than gaming, or vice versa? If you were to describe Playstar, would you say that it is "an internet gaming company with an ecommerce backend subsidiary", or "an internet ecommerce solution provider who also has an online gaming interest on the side."? Or is it something else completely? I am trying to get a handle on the business model and the amount of effort that will go into each direction management has publicly identified. ANSWER The beauty of e-commerce is that we obtain a fee on all transactions processed for clients. In this way, we leverage off clients' marketing budgets and consequent marketing activities. On the other hand, online gambling is far more profitable. Unlike online gaming, E-commerce is not shrouded with controversy. Since I am responsible for the ongoing survival and success of the company, a diversified approach will give us the best of both worlds. As a result, I plan on allocating equal resources to both entities. Sorry for the lengthy interrogation, but the information out there is pretty scarce as far as I can tell, and I really do think that Playstar has potential. It is just very difficult sometimes to place investments in OTC-BB stocks when information remains sketchy. In that respect, are there plans/timeframe for moving to Nasdaq Small Cap or national board at any time in the near future? I assume that will be growth driven, but am wondering if you see Playstar's growth curve as one that would allow listing within 1999 yet? ANSWER My objective is to increase the share price to ensure warrants are exercised. In this way, we can fill our war chest and be prepared to move on to the Nasdaq Small Cap market. To that end, your assistance is valuable in increasing our corporate profile - tell your friends we exist. On my part, I intend to launch an aggressive investment relation program to increase our profile. I have issued instructions to commence a weekly "Investors' Newsletter" to let interested investors like you know of developments, and to answer investor questions. We have to be careful here because this could compromise our competitive edge. I am also exploring the legal issues because we do not want to violate any SEC regulations. Well, Stuart, that's all for now. Some of these questions are easy, some probably a real pain, but any information you can furnish me with would be greatly appreciated. Thanks for your time and Best of Luck with your new position. My pleasure Todd and thank you for your input. I will be sure keep an eye on Raging Bull. Please feel free to drop me an e-mail at any time. Best Regards, Stuart Brazier