Hot Place, Hot Topic...Is It A Hot Company?
The newly christened World Gaming plc (WGMGY), previously known as Starnet Communications International, hosted its conference call for investors on June 7 from the floor of the Global Interactive Gaming Summit and Expo in Toronto. The call mainly served as the introduction of the company's new CEO, Michael Aymong, who touched upon several subjects during the discussion. Aymong briefly highlighted his previous business experiences and then outlined his future plans for the company. Such plans include new offices in London and Toronto and eventually in several other regions of the world. In addition, Aymong spoke of pending legal matters, saying that they needed to be "put in perspective" with what's happening in Canada and in the I-gaming industry. He didn't release any financial information during the call because the company's financial statements are not ready to be released. A recording of the call can be accessed online at www.insinc.ca/worldgaming/20010607.
AIM Flotation Soon for Fixed Odds Group
Malta-based Fixed Odds Group, currently trading shares on the OFEX, is putting together plans for an Alternative Investment Markets flotation in the near future. The company has held "preliminary discussions with brokers," Director Jean Yves Sirieau confirmed in an interview with New Media Zero. Sirieau says the company is looking to raise a few million dollars through the flotation. He added, "It's still early stages, but we're discussing this with potential brokers in London. We want to raise equity and raise our profile, as we need to bolster our image in London. The cash is for us to grow organically. We don't need to acquire businesses because we're doing well at the moment and growing as planned." The company recently obtained a British betting license in preparation for launching its U.K. fixed-odds betting website.
Delistment for eLOT?
Officials at eLOT, Inc. (ELOT) have confirmed that the company has received a letter of determination from the Nasdaq informing it of its failure to comply with the net tangible assets requirement for continued listing as set forth in Marketplace Rule 4450(a)(3). During a May 17 meeting with Nasdaq officials, the company presented its plans to return to compliance with both the minimum bid price and the net tangible assets requirements for continued listing on the Nasdaq National Market. "We are in the process of executing a comprehensive plan designed to bring the company into Nasdaq National Market Compliance," a company spokesperson explained. "Although these transactions are not yet sufficiently definitive to be publicly disclosed, the plan we presented to the Nasdaq panel, when and if completed, should result in returning eLOT to full compliance." On June 1, eLOT's shares closed at $0.3399, while the 52-week range showed its share price varying widely from $0.0938 to $3.5000.
While waiting for the Nasdaq to deliver its final determination on its listing, eLOT kept busy by signing a definitive asset purchase agreement with PlasmaNet, Inc. for the acquisition of FreeWorldLottery, an international sweepstakes modeled after PlasmaNet's FreeLotto offering. eLOT officials hope that the company will generate sufficient cash resources to sustain the holding's operations through 2001 and become profitable by the first quarter of next year.
Word from the SUBWAY.com
The SUBWAY.com issued an investment opinion for eConnect Inc. (ECNC.OB), describing the company's shares as "attractive." During the week of May 24, the company's stock had been trading at $0.11 on a volume of 5,724,100.
By June 8, The SUBWAY.com added Online Gaming Systems, Ltd. (OGAM) to its list of "attractive" investment opportunities, citing OGAM's recent joint venture with Station Casinos, Inc. to develop technology for the casino's remote play 'eSlot' product which is licensed to GameCast Live, a Station Casinos subsidiary.
Youbet.com Slots Virtual Investor Presentation
Youbet.com (UBET) has scheduled a virtual investor presentation for June 14 at 12 p.m. (EST). The presentation will be simultaneously broadcast via audio and webcast online, accessible through Youbet's website at www.youbet.com. A phone replay of the presentation will be available through June 21 by calling 1-888-266-2086 and entering the pass code 5296312.
Nasdaq Goes European
The Nasdaq just launched its new European Trading System (ETS) to meet the regional needs of the European market. "This trading system has been specifically built to meet the needs, expectation, and aspiration of all market participants," Nasdaq Europe CEO Jim Weber explained. "I am fully confident that this will drive forward our strategy of expanding European order flow in U.S. stocks, building on European cross-border trading and creating the European IPO market of choice. Our aim is to make Nasdaq Europe into the third leg of a global Nasdaq market spanning Europe, Japan and the U.S." The new Nasdaq Europe Rule Book and details of the fees for listing on Nasdaq Europe are available at www.nasdaqeurope.com.
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