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

To: patwrk who wrote (137)	4/8/1999 6:15:00 PM
From: Hylas	Respond to of 330

Thought I was all loaded up, but Just couldn't resist buying more. Looking for $3.00 in next few months. IMO of course. Hylas

To: patwrk who wrote (137)	4/8/1999 8:27:00 PM
From: Dr. Stock	Respond to of 330

I agree! One always has to exercise caution but I am not too anxious about the fact that the company may have been slow to respond to questions and inquiries. Whew!! just try and get ahold of the Starnet people. I have tried several times to find out what is going on with them and cannot find a soul to speak to. Anyway, it appears that what was happening at PlayStar was a major overhaul of personnel or something like that. The next few weeks will tell what is going on. Doc

To: patwrk who wrote (137)	4/11/1999 1:48:00 PM
From: Mags	Respond to of 330

Repost from my DD done a couple of months back, should be interesting to see how everything plays out. Here are some of the highlights of my due diligence that might help enlighten investors as to what exactly is going on here. I got all of this info from publicly available documents and websites as well as my conversations late tonight with Playstar. First things first, I know everybody wants to know these items first….. - Current shares are 28,592,644, more info can be found at playstar.com - Float - I estimate between 10-15MM but it is a tough one to figure out, look at sec.gov - They are reporting sec.gov. - The company's websites are as follows playstar.com - their homepage antigua.org - their online casino cyberstation.ca - their new E-commerce partner - Looking back at the previous PR's, all of which can be found at playstar.com, shows that Playstar began as an online casino and online casino java based software developer with an interesting credit card processing technology. - After an extensive beta testing period of its online java based gambling software, Playstar's online casino began accepting real wagers on September 14, 1998 and therefore has been accepting real wagers for over 4 months. - The beta testing numbers were quite impressive. As stated in the PR on January 6, 1998, "Total amount of test money bet for nine months ending December 31, 1997 was $ 45,259,296. The house gross gaming revenue was $ 5,464,305. Average bet "rollover" (total amount bet as a percentage of initial credit) was 399%, and the average bet was $22.69." It will be interesting to see in the futures PR's how many of the play gamblers became real gambler's over the past 4 months. The numbers will be quite impressive if they are anything close to those listed above, however it is my opinion that the numbers will be significantly less given the transfer from play to real wagering and the thus far lack of marketing support. - During the past 4 months there have been significant management changes at the company resulting from a desire to focus the company on online credit card processing with its resulting E-commerce implications. Out went Julius Patta and his team, and in came Joseph Alves and William Tucker both of whom you can read about in the PR. - The newest venture as announced in the latest PR states that "Playstar Wyoming Holding Corporation (OTC BB: PCSKF) is pleased to announce the signing of a definitive agreement with Cyberstation St. Kitts Ltd. The agreement calls for the creation of a wholly owned subsidiary, the primary business of which will be electronic Internet credit card transaction processing." From my discussions with the company late tonight, this new agreement has far reaching implications. - First, Cyberstation's experienced programming team has combed through all of the code behind the java applets and tossed out all of the junk making the games run more smoothly and consistently. - Second, Cyberstation will going forward play an integral role developing new software, gaming, and website content for Playstar. - Third, and most importantly, Cyberstation in cooperation with Playstar will develop and roll-out the credit card processing technology using Playstar as basically a test bed for perfecting the product just as SNMM uses its Worldgaming website to perfect its software. - My understanding of how the software works is as follows. Currently, the encryption that is used is embedded within the browser and also resides on the server. By utilizing java applets, this new encryption can be used without waiting for Microsoft or Netscape to develop and embed the technology within their browsers. When a customer uses the applet, the applet loads onto the customer's computer just like any other java applet does, encrypts the credit card information, and then sends that information to the credit card processing facility which in this case is Cyberstation. Cyberstation charges a certain and as yet undisclosed fee to process the transaction, and then the funds are deposited with the merchant less the processing fee as is typically done today around the world. For online gambling, this means that the casino that uses the technology makes up the difference between what the customer deposited and the fee that is charged so that the customer never sees his/her account debited, and has full use of all of his funds. - My initial concern which I am still trying to allay, is how Cyberstation's/Playstar's new credit card processing technology is differentiated from what is already out there. First the encryption is much stronger, second it is java based thus removing the dependence on the browsing vehicle, and third the background security checks before the card is processed are very extensive. I haven't gotten any details on the third part, but I am sure that they will follow shortly. - Going forward for the casino, the plans are to leverage Cyberstation's programming expertise to enhance the gaming experience and roll out a much more well funded marketing program - Current operating costs are very low for the casino and the cash generated by the casino is more than enough to cover those costs. In summary, there is a lot of information here to digest along with a lot of uncertainty. I have many questions that are still lingering which I hope will be answered shortly: - What does all of this mean in terms of cash flows to the company? - What exactly is the ownership structure of the new subsidiary? - What exactly is planned for marketing of the casino? - What are the numbers from gambling operations over the past 4 months? - How is the cash situation? - Is there a need for more capital going forward to proceed with the new strategy? I own shares from .30 up to .60 and have a vested interest in discovering what this company is all about. I am sharing all of this information with you because it would be a waste for me to do all of this hard work and keep it to my self. What good is a good company if nobody knows about them? Nothing you see here is hype, strictly facts from PR's, comments from the company, and my interpretations of the latter two items. I foresee gains being made in the stock only as the uncertainties around this company and its new strategies and partnerships are unveiled. Please post any comments or criticisms that may arise from my analysis and interpretation. Marc Next Previous