GREY:CTORF - Post by User
Comment by
planeflyon Oct 04, 2001 3:12pm
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Post# 4259556
RE: regarding THE news: OPEN your EYES
RE: regarding THE news: OPEN your EYESLet's look at what we have so far:
1. On 25 September the company announces that they have obtained the rights to 80% of the revenues generated by a company that gets 70% of the revenues through their license. This is a little convoluted, but pretty typical. So that means that the company gets about 56%. Now, does revenues mean bet revenue, or does it mean profit revenue. I'd have to say the latter. So maybe they get 56% of the profits. In return, they paid some cash and stock.
2. Today, they announced that betting will begin on 22 October. I guess we have to assume that this is the facility that we own part of the revenues from. Otherwise, why would they have made the announcement?
The next step would be the commencement of betting and then we'll see what kind of revenues they receive.
As far as PR is concerned, considering the financial condition, I wouldn't epxect a PR department. After all, they haven't had anything to announce for the past several years. However, they are releasing news as it becomes available.
In any event, as a long-suffering shareholder, I'm thrilled to see anything take place. Especially for a company we had all given up as dead. 35 cents isn't 5 dollars, but it's better than nothing, although I will admit, not much better! But I expect better things ahead.