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To: Softechie who wrote (4450)	4/17/1999 11:29:00 AM
From: jgideon	Read Replies (2) \| Respond to of 118717

I had an extensive response about XTON/ELOT that disappeared when I resized my window. I'm not going to re-type, but here are the main points: -- XTON tried to spin-off ELOT earlier this year, now just letting ELOT assume listing and selling all of XTON assets to XTON CEO to take it private. -- ELOT has no clients signed up. 6 states in advanced negotiations. No revenue. No expected revenue for 3-12 months after contract. Must survive on about $70 million from sale of XTON assets. -- Stock has gone from under $1 to over $10 in 6 months. -- Must read article: elottery.com -- I don't like lotteries, but the investor community seems to have fallen for this sideways IPO of an idea for a business. If no contracts emerge soon, the stock will crash as fast as the wanna-be net banks did last week. -- The barriers to competition don't seem too high. If the state lotteries do go online, then the number of e-lotto firms will jump and this company's lead will erode quickly. --> Short term play only, and you are playing the gullibility of the internet investors, not any strengths of the company. If a contract emerges, then you can start evaluating company prospects. JMHO jg