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CathayOnline recently changed its ticker from KYOM to more accurately reflect the nature of its main business. The company has initally targeted Sichuan province with a population in excess of 100 million people to launch its ISP service. The project has been in operation for the past 2 years and is the sole private/foreign-owned provider in the province of Sichuan. It will serve as the platform to grow in the ISP and E-Commerce business in China. In addition, the Company has targeted a city in China with a population in excess of 8 million people to launch its first Lottery Kiosk project. The acquisition of 200 electronic lottery kiosks is expected during the first phase of operations. The kiosks earn 6% of gross revenues generated for the lotteries. It is estimated US $1.3 bilion in lotteries were sold in the last 9 months. Lotteries in China are still in their infancy with only 6% of the population having indulged in Lotteries compared to 85% in the US. For addional information, please check out the previous KYOM home page hosted by Dave Gore. | ||||||||||||||
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