Starnet Quartalszahlen - 500 Beiträge pro Seite

[Mr. Bucket]

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[Mr. Bucket]

Sorry, das mit den Zahlen in den tabellen haut ncht so hin, am besten ladet ihr euch alles sleber runter. Durchgeackert hab ichdas ganze schon Komentar folgt morgen in ausgeschlafenem Zustand, wenn das nciht schon adere (hi Offi und roho ) bis dahin besorgt haben!


STARNET COMMUNICATIONS INTERNATIONAL INC/ FA



Filing Type: 10-Q
Description: Quarterly Report
Filing Date: Dec 15, 2000
Period End: Oct 31, 2000


Primary Exchange: Over the Counter Includes OTC and OTCBB
Ticker: SNMM



Table of Contents




To jump to a section, double-click on the section name.

10-Q OTHERDOC

PART I 2
ITEM 1 2
Balance Sheet 2
Income Statement 3
Cash Flow Statement 4
ITEM 2 7
Income Statement2 8
Table5 9
ITEM 3 10
PART II 10
ITEM 1 10
ITEM 2 12
ITEM 3 12
ITEM 4 12
ITEM 5 12
ITEM 6 12

EX-10.13 OTHERDOC

EX-10.13 OTHERDOC 13

EX-27.1 OTHERDOC

Exhibit 27 Table 15





Document is copied.
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)
[X] Quarterly report pursuant to section 13 or 15(d) of the Securities
Exchange Act of 1934 for the quarterly period ended October 31, 2000 or

[ ] Transition report pursuant to section 13 or 15(d) of the Securities
Exchange Act of 1934 for the transition period from _____ to _____

COMMISSION FILE NUMBER: 0-29290

STARNET COMMUNICATIONS INTERNATIONAL INC.
(Exact name of registrant as specified in its charter)


Delaware E.I.N. 52-2027313
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)

The CIBC Banking Centre
Old Parham Road
P.O. Box 3265
St. John`s, Antigua, West Indies
(Address of principal executive offices) (Zip Code)

Registrant`s telephone number including area code: [phone]

Former address, if changed since last report:



Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
of 1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.
Yes X No
--- ---

As of December 1, 2000, there were 32,193,181 shares of the registrant`s
Class A Voting Common Stock outstanding.


Some of the information in this report contains forward-looking statements
that involve substantial risks and uncertainties. Any statement in this
report and in the documents incorporated by reference into this report that
is not a statement of an historical fact constitutes a forward-looking
statement. Further, when we use the words "may", "expect", "anticipate",
"plan", "believe", "seek", "estimate" and similar words, we intend to
identify statements and expressions that may be forward-looking statements.
We believe it is important to communicate certain of our expectations to
our investors. Forward-looking statements are not guarantees of future
performance. They involve risks, uncertainties and assumptions that could
cause Starnet`s future results to differ materially from those expressed in
any forward-looking statements. Many factors are beyond our ability to
control or predict. You are accordingly cautioned not to place undue
reliance on such forward-looking statements. We have no obligation or
intent to update publicly any forward-looking statements whether in
response to new information, future events or otherwise. You should be
aware that the occurrence or non-occurrence of any of the events described
in this report could have a material adverse effect on our business,
financial condition and results of operation.


PART I - FINANCIAL INFORMATION
------------------------------


ITEM 1. FINANCIAL STATEMENTS

Starnet Communications International Inc.
Consolidated Balance Sheets
As at October 31, 2000 and April 30, 2000
(in thousands of US dollars)




(Unaudited)
October 31 April 30
2000 2000
------------------------------------------------------------------------------------------


ASSETS
CURRENT
Cash and cash equivalents 3,937 5,984
Reserves and deposits with credit card processors 3,639 3,857
Accounts receivable 2,889 2,022
Prepaid expenses and deposits 641 616
Current portion of long-term receivable 37 514
Other current assets 761 1,349
------------------------------------------------------------------------------------------
TOTAL CURRENT ASSETS 11,904 14,342
------------------------------------------------------------------------------------------
Restricted cash 7,556 7,234
Capital assets (net) 6,122 4,868
Long-term receivable 1,534 1,539
------------------------------------------------------------ 27,116 27,983
------------------------------------------------------------
LIABILITIES AND SHAREHOLDERS` EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities
3,594 5,223
Funds held on deposit 4,159 2,118
Deferred revenue 133 287
Current portion of capital lease obligations
687 476
------------------------------------------------------------TOTAL CURRENT LIABILITIES 8,573 8,104
------------------------------------------------------------Non-current portion of capital lease obligations
906 503
Long-term note payable 1,500 0
------------------------------------------------------------------------------------------
TOTAL LIABILITIES 10,979 8,607
------------------------------------------------------------

SHAREHOLDERS` EQUITY
Capital stock 22,335 22,143
Subscription receivable (366) (381)
Retained earnings (deficit) (5,484) (2,371)
Accumulated other comprehensive loss
(348) (15)
------------------------------------------------------------

TOTAL SHAREHOLDERS` EQUITY 16,137 19,376
------------------------------------------------------------ 27,116 27,983
------------------------------------------------------------

2

Starnet Communications International Inc.
Consolidated Statements of Operations
For the Periods Ending October 31
(in thousands of US dollars except per share information)



(Unaudited) (Unaudited)
Three Months Ended Six Months Ended
October 31 October 31

2000 1999 2000 1999
------------------------------------------------------------

REVENUE
SALES
Royalties and fees 4,730 3,430 8,354 5,794
Licensing 746 912 1,151 2,163
--------------------------------------------------------------------------------------
Total sales 5,476 4,342 9,505 7,957
Cost of sales 1,604 930 2,900 1,797
--------------------------------------------------------------------------------------
GROSS PROFIT 3,872 3,412 6,605 6,160
--------------------------------------------------------------------------------------

EXPENSES
Sales 177 127 297 295
Marketing 743 609 1,498 853
Development 863 455 1,709 823
Operations 1,087 (66) 2,168 292
General and administrative 1,409 1,347 2,623 1,991
Provision for bad debts 0 0 0 250
Legal 217 152 290 189
Depreciation and amortization 763 378 1,315 646
--------------------------------------------------------------------------------------
TOTAL OPERATING EXPENSES 5,259 3,002 9,900 5,339
--------------------------------------------------------------------------------------

Income (loss) from operations (1,387) 410 (3,295) 821
--------------------------------------------------------------------------------------

Other income (expenses) 96 51 182 80

--------------------------------------------------------------------------------------
INCOME (LOSS) FROM CONTINUING
OPERATIONS BEFORE INCOME TAXES (1,291) 461 (3,113) 901
--------------------------------------------------------------------------------------

Income tax expense (recovery)
current 0 53 0 53
deferred 0 0 0 0
--------------------------------------------------------------------------------------
INCOME TAXES 0 53 0 53
--------------------------------------------------------------------------------------

Income (loss) from continuing
operations (1,291) 408 (3,113) 848

Income (loss) from discontinued
operations of the on-line
interactive media division
(less applicable income taxes) 0 (67) 0 106
--------------------------------------------------------------------------------------

NET INCOME (LOSS) FOR THE PERIOD (1,291) 341 (3,113) 954

Retained earnings (deficit),
beginning of period (4,193) 1,497 (2,371) 884
--------------------------------------------------------------------------------------
RETAINED EARNINGS (DEFICIT),
END OF PERIOD (5,484) 1,838 (5,484) 1,838
--------------------------------------------------------------------------------------

Basic earnings (loss) per share
from continuing operations $ (0.04) $ 0.01 $ (0.10) $ 0.03
Basic earnings (loss) per share $ (0.04) $ 0.01 $ (0.10) $ 0.03
Weighted average number of
common shares outstanding 32,176,665 30,483,604 32,141,634 29,054,349

Diluted earnings per share from
continuing operations n/a $ 0.01 n/a $ 0.03
Diluted earnings per share n/a $ 0.01 n/a $ 0.03
Weighted average number of
common shares outstanding for
diluted earnings per share n/a 33,259,232 n/a 33,174,185



3

Starnet Communications International Inc.
Consolidated Statements of Cash Flows
For the Periods Ending October 31
(in thousands of US dollars)




(Unaudited) (Unaudited)
Three Months Ended Six Months Ended
October 31 October 31

2000 1999 2000 1999
--------------------------------------------------------------------------------------


CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss) (1,291) 341 (3,113) 954
Adjustments to reconcile net income
to net cash provided by operating
activities:
Depreciation 763 384 1,315 646
Amortization of deferred website costs 0 70 0 105
Amortization of software development
costs 0 69 0 138
Changes in current assets and liabilities:
Decrease (increase) in reserves and
deposits with credit card processors 433 (439) 218 (493)
Increase in accounts receivable (720) (1,861) (852) (3,968)
Decrease (increase) in prepaid
expenses and deposits 3 (168) (25) (339)
Decrease (increase) in other assets 282 8 588 (727)
Increase (decrease) in accounts
payable and accrued liabilities (738) 2,266 (1,629) 2,886
Increase in income taxes payable 0 14 0 58
Increase (decrease) in funds held
on deposit 2,268 1,701 2,041 2,137
Decrease in deferred revenue (239) (128) (154) (134)
--------------------------------------------------------------------------------------
NET CASH PROVIDED BY (USED IN)
OPERATING ACTIVITIES 761 2,257 (1,611) 1,263
--------------------------------------------------------------------------------------

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of capital assets (590) (1,411) (1,771) (1,939)
Transfer to restricted cash (280) (6,856) (322) (6,856)
--------------------------------------------------------------------------------------
NET CASH PROVIDED BY (USED IN)
INVESTING ACTIVITIES (870) (8,267) (2,093) (8,795)
--------------------------------------------------------------------------------------

CASH FLOWS FROM FINANCING ACTIVITIES
Payments received on long-term receivable 12 0 482 0
Proceeds from loan 1,000 0 1,500 0
Proceeds from issuance of shares 130 3,133 192 12,027
Principal repayments under capital
lease obligations (152) (38) (300) (189)
--------------------------------------------------------------------------------------
NET CASH PROVIDED BY FINANCING
ACTIVITIES 990 3,095 1,874 11,838
--------------------------------------------------------------------------------------

EFFECT OF EXCHANGE RATE CHANGES ON CASH (179) (142) (217) (79)
--------------------------------------------------------------------------------------


NET INCREASE (DECREASE) IN CASH DURING
THE PERIOD 702 (3,057) (2,047) 4,227
Cash, beginning of period 3,235 13,150 5,984 5,866
--------------------------------------------------------------------------------------
Cash, end of period 3,937 10,093 3,937 10,093
--------------------------------------------------------------------------------------


OTHER NON-CASH TRANSACTIONS
Leased assets acquired 472 282 959 282

SUPPLEMENTAL CASH FLOW INFORMATION
Interest paid 13 10 30 10
Income tax paid 0 0 0 29



4

STARNET COMMUNICATIONS INTERNATIONAL INC.
CONDENSED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS AT OCTOBER 31, 2000
(UNAUDITED)

1. Condensed Consolidated Financial Statements

The accompanying consolidated financial statements have been
prepared by the Company without audit. In the opinion of
management, all adjustments (which include only normal recurring
adjustments) necessary to present fairly the financial position at
October 31 and April 30, 2000, and results of operations and cash
flows for the periods ended October 31, 2000 and 1999, have been made.

Certain information and footnote disclosures normally included in
consolidated financial statements prepared in accordance with
generally accepted accounting principles have been condensed or
omitted. It is suggested that these condensed consolidated
financial statements be read in conjunction with the financial
statements and notes thereto included in the Company`s April 30,
2000 audited consolidated financial statements. The results for
operations for periods ended October 31, 2000 and 1999 are not
necessarily indicative of the operating results for the full years.

2. Unaudited Financial Statements

The accompanying unaudited financial statements include all of the
adjustments which, in the opinion of management, are necessary for a
fair presentation. Such adjustments are of a normal recurring nature.

3. General

Restricted Cash refers to funds in the Company`s bank accounts
frozen pursuant to a Restraint Order in Canada, and collateral for
leases and letters of credit.

Other Current Assets consist primarily of gaming licences from the
government of Antigua held for resale to licencees.

4. Loan Payable

The Company has entered into an agreement to borrow up to $1.5
million, all of which it has received at October 31, 2000. Interest
is payable monthly at a rate of 8% per annum. The loan may be
satisfied by converting the loan amount to common stock of the
Company as part of a private placement along with other third-party
investors at the same terms and conditions as those other third-party
investors.

5

5. Discontinued Operations

Income (loss) from discontinued operations refers to the on-line
interactive media division which was disposed of in April 2000. The
receivable related to the proceeds of sale is included in long-term
receivable.

6. Contingencies and Commitments

An application filed by the Royal Canadian Mounted Police ("RCMP")
on August 14, 2000 resulted in the Supreme Court of British Columbia
extending an ex parte restraint order that prevents the Company and
Starnet Systems International Inc. from accessing approximately $7.3
million for an additional six months. The time is expected to allow
the RCMP to complete their investigation of allegations that the
Company and some of its officers, directors and employees were
breaching certain gaming provisions contained in the Criminal Code
of Canada. The Company has appealed the restraining order extension
to the British Columbia Court of Appeal. The RCMP investigation has
not been completed and no charges have been laid.

Between October 15, 1999 and December 9, 1999, ten class action
claims were commenced in the United States against the Company and
some of its directors and officers. On March 7, 2000, the United
States District Court for the District of Delaware ordered that
these ten actions be consolidated in a single proceeding. An amended
Consolidated Class Action Complaint was filed on June 7, 2000. The
Plaintiff class alleges generally that material misrepresentations
regarding the nature and inherent risks of the Company`s business
were knowingly made to its investors (including the Plaintiff
class). The relief sought includes damages and costs for the
Plaintiff class. The amount of the damages claimed is unspecified.
As this issue is at a preliminary stage, its financial impact, if
any, cannot be determined at this time. It is the Company`s
intention to defend these lawsuits vigorously. The Company filed a
motion to dismiss on September 14, 2000, which as of the date of
this report has not been responded to by the Plaintiff nor ruled
upon by the District Court.

On September 16, 1999, Las Vegas Casino Inc. ("LVC") commenced an
action against the Company, a number of its subsidiaries and various
employees of the Company and its subsidiaries. LVC, a former
software licensee of the Company`s subsidiary, Starnet Systems,
alleges a $1 billion loss arising from alleged misappropriation of
funds, and breach and wrongful termination of its software licence
agreement. Starnet Systems terminated the software licence agreement
with LVC on July 22, 1999 as a result of LVC`s failure to pay over
$200,000 in fees owed to Starnet Systems. On July 12, 2000, the
Supreme Court of British Columbia granted a stay of the lawsuit as
against Starnet Systems only. Should LVC wish to proceed with its
claim against Starnet Systems, it must do so through the arbitration
process provided for in the software licence agreement. LVC has not
yet taken any steps to do so. The Company believes that LVC`s

6

allegations are without merit and intends to defend LVC`s lawsuit
and to contest arbitration proceedings vigorously. As this matter
is at a preliminary stage, its financial impact, if any, cannot be
determined at this time, although management is of the opinion that
it will not result in any significant losses to the Company.

In all of the above-noted matters, management has been unable to
determine the likely outcomes. Consequently, no provision for loss
has been made in these financial statements in respect of these matters.

7. Subsequent Event

The Company has submitted an agreement and plan of reorganization
for shareholder approval. If such approval is obtained and the
Company consummates the agreement and plan of reorganization, the
Company will become an indirect wholly-owned subsidiary of World
Gaming Plc, a new holding company incorporated in England and Wales.

8. Diluted Earnings Per Share

Diluted earnings per share for the six and three month periods ended
October 31, 2000 are not disclosed as the amounts would be anti-dilutive.


ITEM 2. MANAGEMENT`S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATION (All figures in thousands of US dollars)

Results Of Operations
---------------------

The Company`s Internet casino, which targets only customers outside North
America, is operated by its subsidiary, World Gaming Services Inc. of
Antigua. Starnet Systems, also of Antigua, licenses its gaming software
to third parties for a set up fee and monthly royalties. Inphinity
Interactive Inc. was incorporated in 1999 to develop gaming software and
web pages. In April 2000, the Company sold the assets of its adult
entertainment business to a third party to focus entirely on the Internet
gaming industry. For the three months ended October 31, 2000, revenues
from all components of the gaming business, which include licensing,
casino operations and financial transaction processing generated revenues
of $5,476, up 26% from the gaming revenues of $4,342 for the quarter
ended October 31, 1999 and up 36% from Q1. The year-over-year revenue
growth rate of 26% increased from 11% in Q1 but was lower than expected
due to poor sportsbook profits in October despite record sportsbook
wagers during the month. The underlying business continued healthy growth
as system wide deposits and revenues were up 106% and 91%, respectively.

Although total operating costs increased to $5,259 in Q2 compared to
$4,641 in Q1, most of the increase was attributable to one time general
and administration and legal costs.

7

The combined sales, marketing, development and operations costs for Q2
were up only 2% from Q1 despite a 36% rise in revenue over the same period.

The following tables set out selected information from the statements of
operations for the quarters ended October 31, 2000 and 1999 and the
balance sheets as at October 31, 2000 and April 30, 2000:

SELECTED STATEMENT OF OPERATIONS INFORMATION (IN THOUSANDS OF DOLLARS)

FOR THE THREE MONTHS ENDED
October 31, 2000 October 31, 1999
---------------- ----------------


Net Sales 5,476 4,342
Gross Profit 3,872 3,412
Operating Expenses 5,259 3,002
INCOME (LOSS) FROM CONTINUING OPERATIONS (1,291) 408
Net Income (Loss) (1,291) 341


SELECTED BALANCE SHEET INFORMATION (IN THOUSANDS OF DOLLARS)

At October 31, 2000 At April 30, 2000
---------------------------------------

Working Capital 3,331 6,238
Total Assets 27,116 27,983
Long Term Debt 2,406 503
Deficit (5,484) (2,371)
Total Shareholders` Equity 16,137 19,376


As explained in Q1, the Company has reduced the number of new licensees
considerably and focussed selling efforts on established gaming
operators. As a result of this new direction, total sales from licensing
declined 18% to $746 while sales from royalties increased 38% to $4,730.
Year to date revenues increased 19% to $9,505 as a 44% increase in
royalties and fees was partially offset by a 47% drop in Licensing revenue.

The underlying business, however, remained very strong as system-wide
deposits increased to $56,372 for the three months ended October 31,
2000, up 109% from $27,030 for the same period last year and up 70% from
Q1. System wide revenues for Q2 from all licensees increased 94% to
$36,506 compared to the same period last year and jumped 53% from Q1. The
quarter on quarter growth for system wide revenue was less than
anticipated, and less than the growth in deposits, due to low football
profits during the first three weeks of October.

Gross profit increased 13% to $3,872 for the quarter ended October 31,
2000 from $3,412 for the prior year. The gross margin increased as
expected to 71% for the quarter ended October 31, 2000 compared to 68% in
Q1 but decreased from 79% for the same period

8

last year due to the relatively lower gross margin from reselling the
Antigua gaming licenses.

Sales, marketing, development and operations costs for Q2 were up only 2%
from Q1 despite a 36% rise in revenue over the same period as follows:

Q2 Q1 Variance

Sales 177 120 47%
Marketing 743 755 (2%)
Development 863 846 2%
Operations 1,087 1,080 1%
--------------------------
Total 2,870 2,801 2%
==========================



These expenses were relatively flat for the second quarter in a row and
in line with expectations. However, the General and administration and
Legal costs were $1,626, up 26% from $1,287 in Q1 due to costs associated
with the start of internal restructuring and the Company`s efforts to
reorganize into a new holding company incorporated in England and Wales.
The quarter 2 comparative for Operations expenses are negative $66 due to
a reclassification between Operations and General and administrative
expenses in the six month period for 1999. Depreciation costs rose 38%
to $763 for the quarter due to the addition of a second server site and a
full quarter of depreciation for the Q1 equipment upgrades in Antigua.
The total operating expenses were $5,259, up 75% from $3,002 in the same
period last year and up 13% over Q1, considerably lower than the 36%
quarter on quarter revenue growth. For the six months ended October 31,
2000, operating expenses were $9,900, up 85% from $5,339 in the same
period last year and in line with the year on year increase in the
underlying business.

The combination of lower than expected revenues and the higher G&A and
Legal expenses resulted in a loss from continuing operations of $1,291
for the quarter ended October 31, 2000 compared to an operating income of
$408 for the prior year. The Q2 loss, however, was somewhat lower than
the $1,822 loss in Q1. The year to date loss from continuing operations
was $3,113 compared to operating income of $848 for the prior year.

On April 1, 2000, the Company sold the business and all of the assets of
its interactive media division therefore there was no income from this
discontinued division during the quarter compared to a loss of $67 for
the same period last year. This interactive media division had generated
income of $106 for the six months ended October 31, 1999.

There is no tax provision for the quarter or the year to date as the
majority of the Company`s income is generated from Starnet Systems in
Antigua, which is not subject to income tax.

9

Liquidity and Capital Resources
-------------------------------

At October 31, 2000, the Company had $3,937 in cash and cash equivalents
down from $5,984 at April 30, 2000 but up from $3,235 at July 31, 2000.
The decrease over the six months to October 31, 2000 was caused by $1,610
used in operations and the rest partially financed new capital
expenditures. Due to the investigation by Canadian authorities of the
business operations of the Company prior to August 1999, the freeze on
two of the Company`s bank accounts with a Canadian bank was extended
until February 2001 The amount affected totaled approximately $7,293
including interest. The Company also has reserves and deposits held by
credit card processors totaling $3,639 which includes $322 relating to a
discontinued business. A majority of the funds are held as a rolling
reserve, which is released to the Company after six months.

Working capital at October 31, 2000 decreased to $3,331 from $6,238 at
April 30, 2000. Accounts receivable increased from $2,022 at April 30,
2000 to $2,889 at October 31, 2000. The majority of the receivables are
from new licensees that were offered an installment payment plan on the
initial licensing fees and from operating licensees that have their own
merchant accounts. Other current assets at October 31, 2000 dropped to
$761 from $1,349 at April 30, 2000. The decrease is the net effect of
prepayments made to the Antiguan Government for the purchase of
additional casino licenses less the portion allocated to costs of sales
during the period. The casino licenses are held for sale to prospective
licensees.

Net cash generated by operations for the quarter ended October 31, 2000
of $761 was down from $2,257 for the same period last year but up
considerably from the $2,371 cash used in Q1.

Net cash used for investing activities for the quarter ended October 31,
2000 was $870 compared to $8,267 for the same period last year. For the
year to date, the amount was $2,093 compared to $8,795 for the same
period last year. Last year`s figure included $6,856 of restricted cash
as explained above. There was another $472 of leased assets added during
the quarter bringing the year to date total to $959.

Net cash provided by financing activities for the three months ended
October 31, 2000 and the year to date was $990 and $1,874 , respectively,
down considerably from the same periods last year as the lower stock
price reduced the number of options and warrants exercised.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable.

10

PART II - OTHER INFORMATION
---------------------------


ITEM 1. LEGAL PROCEEDINGS

The information below updates and discloses material events that occurred
during the quarter ended October 31, 2000 with respect to previously
disclosed existing and pending legal claims against the Company. Please
refer to the Company`s Form 10-Q for the quarter ended July 31, 2000 for
a discussion of all existing and pending legal claims against the Company.

Her Majesty the Queen in Right of Canada
----------------------------------------

On August 25, 1999, the RCMP obtained an ex parte restraint order from
the Honourable Associate Chief Justice of the Supreme Court of British
Columbia pursuant to the provisions of the Criminal Code of Canada. This
order prevents the Company and Starnet Systems International Inc. from
accessing funds located in their Canadian bank accounts. The amount of
money in these accounts is approximately $7,188,000. The basis for the
claim is the allegation that the funds in these bank accounts are
proceeds of crime, obtained as a result of the breach of certain gaming
provisions contained in the Criminal Code of Canada, and should therefore
be forfeited to the Crown. In September 1999, the Company brought an
application to have the restraint order revoked. This application was
unsuccessful.

On February 24, 2000, the RCMP applied to the Supreme Court of British
Columbia to continue the restraint order for a further 12 months. On the
same day, the Company brought an application to have the restraint order
vacated. The application to continue the restraint order was granted but
only for a further six months. The application to vacate the restraint
order was adjourned until such time as all issues relating to privileged
documents had been dealt with.

An application filed by the Royal Canadian Mounted Police ("RCMP") on
August 14, 2000 resulted in the Supreme Court of British Columbia
extending an ex parte restraint order that prevents the Company and
Starnet Systems International Inc. from accessing approximately $7.3
million for an additional six months. The time is expected to allow the
RCMP to complete their investigation of allegations that the Company and
some of its officers, directors and employees were breaching certain
gaming provisions contained in the Criminal Code of Canada. The Company
has appealed the restraining order extension to the British Columbia
Court of Appeal. The RCMP investigation has not been completed and no
charges have been laid.

U.S. Class Action Claims
------------------------

Between October 15, 1999 and December 9, 1999, ten class action claims
were commenced in the United States against the Company and some of its
directors and officers. On March 7, 2000, the United States District
Court for the District of Delaware

11

ordered that these ten actions be consolidated under the heading IN RE
STARNET COMMUNICATIONS INTERNATIONAL INC. SECURITIES LITIGATION, C.A. No.
99-681 (SLR).

An amended Consolidated Class Action Complaint was filed in the United
States District Court for the District of Delaware on June 7, 2000. The
Plaintiff class consists potentially of all persons who purchased the
Company`s Class A Voting Common Stock from March 11, 1999 to August 20,
1999 inclusive, excluding the Defendants. The Plaintiffs allege generally
as follows:

(a) The Company became involved in internet gaming;

(b) The Company represented to its investors (including the
Plaintiff class) that the legality of internet gaming was
uncertain;

(c) The Company represented to its investors (including the
Plaintiff class) that it had taken steps to minimize the
risk of exposure to a criminal or quasi criminal
prosecution for being involved in internet gaming;

(d) The representations made by the Company were false or incomplete;

(e) The false or misleading representations of the Company
caused its share price to rise;

(f) The members of the Plaintiff class purchased the Company`s
shares;

(g) In August of 1999, the RCMP searched the Company`s
Vancouver, British Columbia offices;

(h) The share price of the Company dropped dramatically;

(i) The members of the Plaintiff class lost money as a result
of the drop in the share price;

(j) Certain former officers of the Company (John Carley, Chris
Zacharias and Mark Dohlen - the "Individual Defendants")
were involved in or aware of the false or misleading
representations; and

(k) The Individual Defendants were involved with the
preparation of or approved of the false or misleading
representations of the Company for the purpose of
inflating the price of the Company`s stock, thereby
allowing the Individual Defendants to reap millions of
dollars in profits from the sale of the Company`s shares
at inflated prices.

12

The Company filed a Motion to Dismiss on September 14, 2000, which as of
the date of this report has not yet been responded to by the Plaintiff
nor ruled upon by the District Court.

The relief sought includes damages and costs for the Plaintiff class. The
amount of the damages claimed is unspecified. As this issue is at a
preliminary stage, its financial impact, if any, cannot be determined at
this time. It is the Company`s intention to defend this lawsuit vigorously.


ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

Not applicable.


ITEM 3. DEFAULTS UPON SENIOR SECURITIES

Not applicable.


ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

Not applicable.


ITEM 5. OTHER INFORMATION

On September 11, 2000, the Company`s Board of Directors appointed the
Company`s Chairman, Fred Hazell, to serve as interim President and Chief
Executive Officer following the resignation of Meldon Ellis, who
previously had served in the same positions. On that same date, the
Company`s Board of Directors resolved to set Mr. Hazell`s compensation at
the same amount formerly paid to Mr. Ellis, which included an annual
salary of $216,000 as well as allowances for certain other expenses.


ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

(a) Exhibits required by Item 601 of Regulation S-K:
------------------------------------------------

10.13 Settlement Agreement, dated September 13, 2000, by and
between the Registrant and Meldon Ellis.

27.1 Financial Data Schedule

(b) Reports on Form 8-K:
--------------------

None.

13

SIGNATURES
----------

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

STARNET COMMUNICATIONS INTERNATIONAL INC.
(REGISTRANT)

Date: December 15, 2000 By: /s/ Fred Hazell
----------------------------
Fred Hazell
Chairman, President and Chief Executive Officer

Date: December 15, 2000 By: /s/ Chris Thompson
----------------------------
Chris Thompson
Vice-President, Finance









14



EX-10.13 OTHERDOC
2
0002.txt
SETTLEMENT AGREEMENT WITH MELDON ELLIS


Document is copied.
EXHIBIT 10.13

Fred Hazell,
Chairman of the Board of Directors,
Starnet Communications International Inc.,
St. Johns, Antigua
West Indies,

September 13, 2000

Mr. Meldon Ellis, President & CEO
Starnet Communications International, Inc.
St. John`s, Antigua
West Indies

Dear Mr. Ellis:

Re: RESIGNATION AS PRESIDENT, CEO AND DIRECTOR OF STARNET COMMUNICATIONS
INTERNATIONAL INC. AND SETTLEMENT AGREEMENT:

The following summarizes the offer approved by the Board of Directors at
the Board meeting of September 11, 2000 and sets out the agreement reached
between you and Starnet Communications International Inc. ("Starnet"):

In consideration for your resignation from Starnet as President & CEO and
director (as well as any other officer and director positions you hold for
Starnet and its subsidiaries), and in consideration of your release of any
and all claims you may have against Starnet, its officers and directors or
any of its subsidiaries arising under your employment agreement, Starnet
agrees as follows:

1) you will be paid a cash settlement in the amount of (USD) $200,000,
payable in four equal installments of $50,000 in accordance with the
following payment schedule:

a) the first payment will become due and payable on October 1, 2000;

b) the second payment will become due and payable on January 1, 2000;

c) the third payment will become due and payable on April 1, 2000; and,


d) the fourth and final payment will become due and payable on
July 1, 2000.

2) You will also be retained by Starnet as a consultant and you will
receive a monthly retainer of (USD) $5,000 during the period from
October 1, 2000 to September 30, 2001 (the "Term"). During the Term
you will report to the Chairman of the Board and will provide
consulting services to the company on an "as requested" basis for a
maximum of five (5) days per month. During the Term, Starnet will
ensure that your work permit in Antigua and your social security and
health benefits are maintained.

3) You will be paid a housing allowing of (USD) $4,000 per month during
the Term, and the residual value of your present automobile will be
transferred to you effective October 1, 2000.

4) No office space, support staff or facilities will be provided to you
and you will be responsible for making your own arrangements in this
regard.

5) No new stock options granted to you. Your present allotment of stock
options will continue to vest during the Term and may be exercised in
accordance with your current stock option agreement.

6) It is fully understood that a condition of this agreement is that you
continue to work with the Board of Directors on an "as requested"
basis until September 30, 2001 and contribute to the continued growth
and success of the Starnet and all its subsidiaries. Implicit in this
is the undertaking that you will not compete with Starnet, its
subsidiaries or licensees and that you will use your "best efforts" in
any work undertaken on behalf of Starnet.

7) If Starnet is in default of any payments under this agreement, and
such default remains uncured 10 days after being notified of such
default, then all payments under this agreement will become due and
payable.

8) You agree to abide by the confidentiality and non-competition
provisions contained in paragraph 13 of your Employment Agreement
dated October 1, 1999, for a period of one-year following the signing
of this settlement agreement.


9) Each of the parties to this agreement undertakes to sign any further
documents that are necessary to carry out the terms and conditions of
this agreement.

Please indicate your acceptance of this offer by signing below.

Yours truly,



/s/ Fred Hazell
-------------------------------------
Fred Hazell
Chairman of the Board of Directors
Starnet Communications International, Inc.

I HEREBY ACCEPT THE ABOVE OFFER:



/s/ Meldon Ellis
-------------------------------------
Meldon Ellis


Date: September 12, 2000



<TYPE>EX-27.1 OTHERDOC
<SEQUENCE>3
<FILENAME>0003.txt
<DESCRIPTION>FINANCIAL DATA SCHEDULE FOR OCTOBER 31, 2000
<TEXT>

<OTHERDOC-AVAILABLE Series=0003.txt Ver="">Document is copied.
<TABLE> <S> <C>

<ARTICLE> 5

<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> APR-30-2001
<PERIOD-START> MAY-01-2000
<PERIOD-END> OCT-31-2000
<CASH> 3,937,000
<SECURITIES> 0
<RECEIVABLES> 5,512,000
<ALLOWANCES> 2,623,000
<INVENTORY> 0
<CURRENT-ASSETS> 11,904,000
<PP&E> 9,971,000
<DEPRECIATION> 3,849,000
<TOTAL-ASSETS> 27,116,000
<CURRENT-LIABILITIES> 8,573,000
<BONDS> 0
<PREFERRED-MANDATORY> 0
<PREFERRED> 0
<COMMON> 22,335,000
<OTHER-SE> (6,198,000)
<TOTAL-LIABILITY-AND-EQUITY> 27,116,000
<SALES> 9,505,000
<TOTAL-REVENUES> 9,505,000
<CGS> 0
<TOTAL-COSTS> 12,800,000
<OTHER-EXPENSES> (212,000)
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 30,000
<INCOME-PRETAX> (3,113,000)
<INCOME-TAX> 0
<INCOME-CONTINUING> (3,113,000)
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> (3,113,000)
<EPS-BASIC> (0.097)
<EPS-DILUTED> 0



MfG und gute Nacht
Ingmar (KCD)

[Mr. Bucket]

Reconsidered... (mein neues Lieblingswort)


OK Leuts, schon heute nacht mein erster Komentar!

Die Zahlen sehen auf den ersten Blick wie der absolute Todesstoß aus! Aber man sollte schon ein bißchen tiefer hinter die Kulissen schauen.


Ich fange mal mit all dem Miesen an:

Wir haben Verluste von -04 cents pro Aktie

Revenues sind nicht so stark gewachsen wie erhofft bzw.. eine absolute Enttäuschung.

Sie betragen 5,476 mio$ bzw. ca. 18 cents pro Aktie.

Anscheinend hat es Liquiditätsprobleme gegeben:

Das Management hat einen Kredit in Höhe von 1,5 mio $ aufgenommen. Dieser ist zahlbar in monatlichen Raten bie einer Jahresverzinsung von 8% (ob effektiv oder nominell steht da nicht). der nicht genannte Kreditgeber hat die Potion diesen Kredit gegen Aktien einzutauschen. Diese würden ihn dann per Private Placement zugeführt (stille Kapitalerhöhung) Starnet behält es sich ausdrücklich vor, weitere Kapitalgeber an einem private placement partizipieren zu lassen.

Im filling wird herausgehoben, das die Cashbestände sich zwar im Vergleich zum Vorjahr halbiert haben, aber im vergleich zum Vorquartal um etwa 700 mio $ auf 3,937 mio $ gestiegen sind. Diese Aussage halte ich für den absoluten Hohn!
Hier wurde umbilanziert, um kurzfristige Verbindlichkeiten zu decken1. Ohne den Kredit hätten wir einen Rückgang r Cashreserven um 800. Das isnd bestenfalls Buchungstricks, um die Liquiditätsgrundsätze/voraussetzungen zu erfüllen.

Ein weitere Punkt, wlcher die Amis sehr sauer gemacht hat, ist die hohe Abfindung von Ex-CEO Meldon Ellis.

200 000$ erhält dieses *********, zahlbar in vier raten ab Oktober alle zwei Monate. Zusätzlich dazu jeden Monat 5 000 $! Unglaublich! Diese schwulen Anwälte ziehen doch überall nur Kohle ab...

Weiterhin wurde von Islandern moniert, daß die Firma, der wir die Pornoseiten vertickt haben, ihre Raten nicht in vollem Umfang bezahlt. Es wurde befürchtet, da hier auch noch enimal außerordentliche Wertberichtrigungen auf uns zukommen. Hier kann aber Entwarnung gegeben werden. Es ist vertraglich ausgemacht, daß die Seite ihre Schulden aus den Gewinnen der Seiten erzielt, aber diese schreiben sie erst seit zwei Monaten.


So, last but not Least, gibt es wohl auch noch ein paar gute Nachrichten:

Das Umsatzwachstum war mit 36 % zum Vorjahr wohl äußerst mager, Starnet hat dies aber nägher aufgeschlüsselt:
Während die Sportbooks einen enomr schwachen Oktober hatten und voll eingebrochen sind, ist bei den Crestlichen Angeboten iwe Casinos u.ä. ein Wachstum von 96% zu verzeichenen. Weiter wurde festgehalten, daß die Casinos hingegen im November und Dezember absolute Rekordmonate haben! (Hieraus kann man ersehen, welchen gropßen Anteil die Sportbooks schon an den Umsätzen haben..., ich freu mich schon auf die Pferdewetten! Dies Betrachtung mit den rekordmonaten ist auch wichtig für mein Umsatzmodell weiter unten!))

Jetzt zu den im Vorfeld viel diskutierten einmaligen Aufwendungen, hier Rückstellungen genannt: Sie betragen 1,9 mio $ (!!!) Ich weiß zwar nicht, wofür, aber da komme ich gleich noch zu...

Einen Erfolg bei der Eindämmung der laufenden Kosten kann man ansatzweise erkennen.

Rechnet man die Rückstellungen aus dem Ergebnis raus, haben wir einen Gewinn von ca. 0,02 cents pro Aktie.



Ist die Frage, wofür sind diese Rückstellungen? Viele Major Sharholder haben sienerzeit ihre Aktein für 50 cents gekauft, bei einem Umzug werden Steuern auf die Gewinne fällig - 25%. Die MS hätten wohl nicht das Geld frei für eine Steuerzahlung bei Aktienkursen deutlich über 50.

Maybe, es ist eine Konzession an die MS, wenn Umzugskosten und Abfindung von ME dem alten Sackgesicht schon mit drin sind... Maybe, Me hat seinem Anwaltsteam nochmal richtig Kohle in die Fresse geballert... ich weiß es nicht.

Zum Abschluß ein paar schöne Rechenmodelle fürs nächste Quartal. Ihr werdet schnell merken, das ganze hängt von nur ein paar Größen ab:

Von mir als wahrschienlich erachteter Fall:

Revenues: 7 mio$ Rückstellungen 1 mio $, weiterhin erfolgreiche Kostenkontrolle (vorausgesetzt auch für die folgenden Beispiele) ---> +2 cents pro Aktie.

Worst Case: 6 mio rev., Rückstellungen wieder 1,9 mio, also ca. 2 mio $ ---> -0,03 bis -0,02 (halte ich für nahezu ausgeschlossen, selbst wenn die Aufwendungen so hoch sein sollten, mwird revenue bei mindestens 6,5 liegen, das wäre dann so zwischen -1 cent und der roten 0.

Best Case: Keine Rückstellungen mehr und 8 mio$ Revenue:

Das wären dann 7 bis 8 cents pro Aktie. (Halte ich allerdings auch für arg unwahrscheinlich, Umsätze dürten im positiven Fall wohl eher bei 7,5 mio liegen, das würde ohne Rückstellungen (wer dran glaubt) immerhin noch +6 cents pro Aktie ausmachen!

OK! Von der heutigen Situation schätze ich für das nächste Quartal auf +2 bis +3 cents. Wenn es super für uns läuft + 4 cents.

ein unbekannter faktor ist die RCMP Geschichte. Siollte die im Februar gelöst sein und nciht alle geld weg, weiß ich nciht wie das zurückgebucht. Wenn es dann außerordentliche Erträge sind und wir kriegen die 7 mio auf einen Schlag, dann können wir uns über einen zusätzlichen Segen von ca. 21,5 Cents pro Aktie freuen... Je nachdem wieviel wir weiderkriegen halt weniger oder mehr oder auch gar nx. Ich weiß aber wei gesagtn icht, wie das geebucht wird. Kann auch sine, daß es noch in der Bilanz drinnsteckt und raugebucht werden muß... halte ich aber für unwahrscheinlich. (Offi, hilf!)

So das war meine Analyse, noch nicht sehr Detailiert, aber ich hoffe, ich habe Gretchen alle erwischt. Wenn ich da was falsch übersetzt haben sollte, bitte drauf aufmerksam machen. Rechtschreibfehler und Vertipper zu suchen, hab ich wie immer kein Bock!

MfG
Ingmar (KCD)

[Mr. Bucket]

Bei der Etnschädigung von Meldon Ellis hab ich wohl noch was übersehen... erstmal kriegt er seinen Dienstwagen ersetzt in Geld... Ein Lexus kost wohl nicht eben wenig. Weiter komme ndazu 4k für ein Jahr jeweils pro Monat.

Dürfte wohl knapp ne halbe mio sein für diesen Vollidioten. Sein Auto spreng ich noch in die Luft, das schwör ich euch!

MfG
Ingmar (KCD)

[Mr. Bucket]

Danke für die vielen Komentare ihr Schlafnasen
Ich fhar jetzt nasch Hause, wo ich keine Flatrate hab, wünsch euch noch ein schönes Wochenende!!!

MfG
Ingmar (KCD)

[Mr. Bucket]

Hier die PR: http://biz.yahoo.com/bw/001215/starnet_co.html



Friday December 15, 9:53 pm Eastern Time
Press Release
Starnet Reports 26% Increase in Revenues in Fiscal Second Quarter
ST. JOHNS, Antigua--(BUSINESS WIRE)--Dec. 15, 2000--Starnet Communications International Inc. (OTC-BB: ``SNMM``) (``Starnet``), a leading provider of interactive media and information systems for companies engaged in the Internet gaming industry, today reported results for the three- and six-month periods ended October 31, 2000.

Total revenues for the second quarter of fiscal 2001 were $5.5 million, an increase of 26% percent from the same period last year and 36% from the preceding quarter. Net loss for the quarter was $1.3 million, or a loss of $0.04 per share, compared to a net gain of $0.3 million, or $0.01 per share, during the corresponding quarter in fiscal 2000.

For the six-month period ended October 31, 2000, revenue increased 19% to $ 9.5 million, compared to $ 8.0 million in the same period last year. Net loss for the period was $3.1 million, or a loss of $0.10 per share, compared to a net gain of $ 0.9 million, or $0.03 per share, during the corresponding six-month period in fiscal 2000.

These losses are attributed primarily to an increase in general and administrative and legal costs. Starnet incurred costs associated with the ongoing search for a new CEO and the Company`s efforts to reorganize into a new holding company incorporated in the United Kingdom. Additionally, depreciation costs rose due to the addition of a second server site, and lower than expected sportsbook profits occurred in October despite record wagers.

Interim President and Chief Executive Officer Fred Hazell commented, ``Until Starnet has selected a new CEO and the corporate restructuring is settled, Starnet will continue to incur costs related thereto. However, these expenditures are extraordinary, and will not affect the company on a recurring basis. Sales, marketing, development and operations costs for the quarter were up only 2% from last quarter despite a 36% rise in revenue over the same period.``

Mr. Hazell continued, ``Our Beyond2000 software features games that target a new, untapped customer base, offering outstanding opportunities for growth. We have further diversified our revenue base with the addition of our increased online pari-mutuel capabilities.``

Chris Thompson, chief financial officer, said, ``This enhanced, diversified revenue base provides Starnet with a solid foundation for stable, consistent growth, as these capabilities will help attract and retain key business partners. Revenue has increased by over 100% over the past three years. As revenues continue to expand over the next several quarters, and as our expenses level off or decrease, we anticipate recording strong results, and project that Starnet will be cash flow positive by the fourth quarter of 2001.``

The following highlights were announced during Starnet`s second fiscal quarter:

New Customers - The company signed and renewed simulcast agreements with leading racetracks including Delta Downs, Northfield Park, and Lebanon Raceway.

Partnerships - Starnet forged an agreement with a new licensee, Casino Marketing S.A., a wholly owned subsidiary of Poker.com, to provide Casino Marketing with a full Internet casino and sportsbook. Starnet also forged a partnership with Panix Promotions to simulcast Panix` boxing matches on Starnet`s worldbroadcasts.com Web site. Starnet will be the exclusive provider of online gaming services for events promoted by Panix.

Product Development - Starnet focused on the development and launch of Pari-mutuel wagering software, adding critical value to the Starnet suite of Beyond2000 gaming products.

Starnet management will be holding a conference call to discuss these financial results on Wednesday, December 20, 2000, at 4:30 p.m. EDT. A live Web cast and further details about the call will be available on the Starnet Web site, www.snmm.com. To listen to the Internet broadcast, please go to the Web site at least 15 minutes prior to the call to register, download and install any necessary audio software.

About Starnet

Starnet is a leading developer and producer of Internet technologies for gaming applications. The company`s new software, Beyond2000, which began a phased launch in August, 2000, will offer a full suite of gaming products, including casinos, sports betting, bingo, lotto, and horse racing. Games are available in a number of different formats including Java, C++, and HTML and comprehensive marketing support software is also provided. For more information, please visit www.snmm.com or email [e-mail].

Starnet is an SEC reporting US (Delaware) corporation, which currently trades on the Over-The-Counter Bulletin Board. The company began trading in September of 1997 under the symbol ``SNMM``. Starnet is also listed on the Berlin and Frankfurt Stock Exchanges where it is traded on the Over-The-Counter market under the symbol ``SNM``.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products, shareholder approval of the proposal to reorganize into a new holding company incorporated in the U.K., regulation of the online gaming industry, and other risks detailed from time to time in Starnet`s filings with the Securities & Exchange Commission. We assume no responsibility for the accuracy and completeness of these statements and are under no duty to update any of the forward-looking statements contained herein to conform these statements to actual results. This is not an offer to sell or a solicitation of an offer to purchase any securities.


MfG
Ingmar

[Tazio]

Danke für deine Aufklärungen und Bemühungen

[nonono]

!

Dieser Beitrag wurde vom System automatisch gesperrt. Bei Fragen wenden Sie sich bitte an [e-mail]

[GENlUS]

@Mr. Bucket

danke für deine ausführliche Stellungnahme.

Wieso bist du der Meinung, daß die Umsätze im laufenden Quartal deutlich über denen des Vorquartals liegen?

Schließlich hatten wir im letzten Jahr hier nur eine sehr geringfügige Steigerung der roy. + fees.

Wir müssen uns den Realitäten bei Starnet stellen. Und die sehen m.E. so aus, daß eben nicht mehr für die Zukunft drin ist, als die derzeitigen Steigerungsraten ausdrücken.

Umsatz-und Gewinnwachstum von mehr als 30 oder 40% p.a. dürften dem Bereich der Märchen angehören.

Wichtig wäre es, endlich wieder zu schwarzen Zahlen zurückzukehren. Wie groß ist denn die Wahrscheinlichkeit, im laufenden Quartal schwarze Zahlen zu schreiben?

Wurde darüber etwas gesagt?

[Cantaloop1]

Ich persönlich glaube das die Chancen wieder profitabel zu werden sind nicht schlecht. Das Wachstum ist unbestritrten da - zwar nicht so hoch wie erwartet aber Starnet wächst. Rechnet man die Rücklagen raus wäre Starnet ja schon fast profitabel.
Würde mich nur einmal interessieren wofür wir schon wieder solche Summen zurückhalten müssen?
Aber bedenkt man das diese Rücklagen ja hoffentlich nicht in jedem Q gemacht werden müssen, und das Starnet weiter wachsen kann, wird es im nächsten Jahr ein + geben.
Mir machen die Zahlen auf alle Fälle soviel Mut das ich am Montag wohl nochmal ein paar Stücke nachkaufen werde.

Gruss Canta

[SeroZ]

Kann mir mal jemand sagen, ob in den Zahlen aus dem 99er Quartal die Porno Umsätze noch eingerechnet waren??

Wenn dem so ist, sind die Steigerungsraten doch noch sehr hoch, oder?

SeroZ

[Cantaloop1]

Hallo Sero

Super Gedanke - dann wäre die Steigerung ja enorm. Kann sich dazu mal jemand äussern der die Zahlen besser interpretieren kann als meiner einer?

Vielen Dank

Canta

[Mr.Rabbit]

eigentlich habé ich ja keine lust, einen kommentar zu schreiben. aber - leute - die zahlen sind eine reine katastrophe....und nun redet euch den scheiß doch nicht
mehr schön. wenn der umsatz nicht wieder schneller wachsen wird, dann werden die bald pleite sein. und: es steht doch in der mitteilung, dass die manager erwarten im q4 2001 (!)
wieder einen positiven cash flow zu erreichen...


"...As revenues continue to expand over the next several quarters, and as our expenses level off or decrease, we anticipate recording strong results, and project that Starnet will be cash flow positive by the fourth quarter of 2001."


...meines zu spät. und zum aktuellen stand der software-entwicklung nur ein zwei-zeiler...noch nichtmál eine prognose, wann der mist fertig sein wird....das zeigt doch, das die leute echte probleme haben...

die ganzen manager zocken doch nur noch die aktionäre ab, versuchen für sich soviel wie möglich aus dieser klitsche rauszuholen. irgendwann geht auch der jetzige manager mit ordentlich kohle in der tasche...mit dem umzug nach england ist es doch genau dasselbe. wie wollen die das überhaupt noch finanzieren?

leider hatte ich auch ein paar aktien, wobei ich glücklicherweise sie bei etwas mehr als 2$ abgestoßen habe.

ich habe wirklich gehofft, irgendwann nochmal einzusteigen,
aber jetzt - wenn man die mitteilung mal wirklich rational analysiert - ist es wirklich eindeutig, dass das unterhnehmen nur noch ein paar quartale überlebt...meines erachtens....

alle die drinbleiben oder kaufen wünsche ich viel glück...ihr werdet es brauchen

mr.rabbit

[Captain Nuß]

Mr Rabbit,
was stellst du dir denn unter q4/01 vor? dezember 2001 oder wie? wenn zum 15.12 die q2 zahlen veröffentlicht wurden, dann ist im juli mit den q4 zahlen zu rechnen. das dürfte wohl keinen mehr vom schlitten hauen. frohes fest

[Mr.Rabbit]

Hallo Captain Nuß,
...ich muß zugeben, das mir hier ein kleiner Fehler unterlaufen ist...die veröffentlichten Zahlen belaufen sich ja auf Q2 des Geschftsjahres 2001....sorry.
Aber nichtdestotrotz muß noch einiges passieren, um in die schwarzen Zahlen zurückzukehren. Ich warte jedenfalls erstmal ab, was die nächstedn Quartale so bringen.

Allerdings würde mich mal wirklich brennend interessieren, ob und welche Auswirkungen die Wahl in den USA auf die Kyle Bill Sache hat....jetzt müßte doch eigentlich irgendein Gesetz relativ zügig durchsetzbar sein, da die Republikaner in beiden Entscheidungsgremien die Mehrheit haben (...wie heißen die bloß nochmal...). Weiß einer vielleicht hierzu etwas mehr?


Mr.Rabbit

[Mr. Bucket]

News: http://biz.yahoo.com/bw/001219/viavid_sta.html

Tuesday December 19, 3:08 pm Eastern Time
Press Release
ViaVid to Broadcast Starnet Conference Call
BURNABY, British Columbia--(BUSINESS WIRE)--Dec. 19, 2000--ViaVid Broadcasting, Inc. (OTCBB:VVDB - news) announces Starnet Communications International, Inc. (OTCBB:SNMM - news) will broadcast their quarterly results conference call over the Internet.

Starnet Communications International, Inc. will broadcast its quarterly results conference call on Wednesday, December 20, 2000 at 1:30 PM Pacific / 4:30 PM Eastern Time.

The conference call and live Webcast will be held to discuss the Company`s second quarter results, the industry, and the outlook for the remainder of fiscal 2001. The dial-in number(s) are as follows: North America Toll-free 877/888-4210 or locally in the Greater Toronto Area or abroad 416/695-5261. The dial-in lines are open to all but please call in at least 15 minutes early to register.

This event is also available through the ViaVid website, located at http://www.viavid.com as well as Starnet`s own website located at http://www.snmm.com. Listeners should go to either of the websites at least fifteen minutes before this event to download and install any necessary audio software. For those unable to attend the live broadcast, a replay will be available shortly after the event. There is no charge to access this event.

About ViaVid Broadcasting Inc.

ViaVid Broadcasting Inc. is a leading edge company specializing in streaming media technology over the Internet. The company has developed a state-of-the-art Digital Video Production/Broadcast Facility that is capable of being live to the Internet 24 hours per day. In addition, the Company has proven expertise in on-site production from numerous remote locations. As a pioneer in the streaming media industry, ViaVid has hands on expertise with all aspects of the technology from construction and maintenance of broadcast networks and servers, to encoding and compression, to post-production/live production services.

ViaVid`s content development expertise and streaming video technology will provide their clients, partners and sponsors enhanced coverage and technological capabilities at a fraction of the cost of implementing their own streaming media strategy.

For more information regarding ViaVid Broadcasting, Inc. please visit www.viavid.com or contact:


ViaVid Broadcasting Inc.
3955 Graveley Street
Burnaby, BC V5C 3T4

Tel: [phone] Fax: [phone]

Toll-Free: 888/562-0262

TICKERS: OTCBB: SNMM

OTCBB: VVDB

Statements regarding financial matters in this press release other than historical facts are ``forward-looking statements`` within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company`s future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company`s actual results may differ materially from expected results.

[Mr. Bucket]

Zu den Zahlen allgemein:

Wir wissen daß die Umsätze verhagelt wurden durch einen Oktober, der den Sportbooks allgemein richtig eins reingewürgt hat. Das lag nicht daran, daß keine Leute dort gewettet hatten, sondern daß die Buchmacher die Quoten für verschiedene Sportereignisse für sich sehr ungünsitg gestaltet haben.

Wir wissen auch, daß der November aus Sicht der Sportbooks bislang der Rekordmonat war un daß der Dezember sehr gtu angelaufen ist und bei gelichbleibender Entwicklung den November sogar toppen könnte! Da die reinen Casinoaktivitäteten im vergangenen Quartal knapp 100% zugelegt haben, was ich für einen recht guten Wert halte, sehe ich uns auf einem guten Weg von der Revenue Seite her.

Zu den Kosten hab ich mir auch noch mal ein paar Gedanken gemacht.Angesichts desUmzugs und der Tatsache daß sich eventuell noch ein paar Leute aus dem Management und BOD verabschieden (hoffentlicht auch King der Schwachmat!), steht zu befürchten, daß hier weider Entschädigungen fällig werden können. Ich gehe mal davon aus, daß die Rückstellungen noch einmal in der Höhe von 2 mio DM oder höher werden. Neue realistische Schätzung für die Zahlen ist unter dieser Voraussetzung -0,02 bis +0,01!

MfG
Ingmar (KCD)

[Mr. Bucket]

So der CC war ja .... ernüchternd. Normalerweise kommt ja vor der Nüchternheit die innere Renigung *ggg*. Hier geschieht es wohl andersherum...

So wie es aussieht, fehlen uns noch einige Stimmen. Ma schaun, ob sich da noch eine Quelle auftut! Anmählich bin ich nicht nur sauer auf das Management sondenr auch auf die Amis. Wei stumpf muß man denn sein, da nicht abzustimmen!

Was steht uns bevor? Auf jeden Fall eine Verlängerung des Votings, im Moment bin ch abern och ganz positiv gstimmt, aß es doch ncoh klappt. oblgeich MP offenbar schon gevotet haben. Ich glaub, Starnet wird jetzt selber klinken putzen gehen...

Neuer CEO, sobald Vote durch ist - ds ist das Gerücht. Bin mal gespannt, wie schnell sie das hinkriegen.

MfG
Ingmar (KCD)

[Mr. Bucket]

+47% ohne News, wenn das kein guter Start ins neue Jahr ist?

Was sagt uns das? Es wird wohl bald ne News geben


MfG
Ingmar (KCD)

[shot99]

starnet macht heut richtig fun.



SHT

[Mr. Bucket]

+100% und keiner weiß warum.....

oder?

MfG
Ingmar (KCD)

[GENlUS]

Ich vermute, daß der Kursanstieg bedingt wurde durch Rückkäufe, denen steuerlich bedingte Verkäufe zum Jahresende vorausgegangen waren.

Gemessen am KUV war Starnet, gemessen an der Konkurrenz, zu billig.

Wollen wir hoffen, daß die Rückkäufe noch nicht beendet sind und heute weitergehen.

An einen Übernahmeversuch glaube ich nicht.

[Spatzi_WO]

aus dem RagingBull

By: thatsent $$$$
Reply To: None
Wednesday, 3 Jan 2001 at 2:10 AM EST
Post # of 231287


The information is that there will be some major cutbacks tomorrow. Approx. 50 non-essential employees will be
cut, and lots of things will be outsourced.
The stock is a buy. Market makers are taking the stock seriously. The focus is on sales and marketing. Expect a
big drive to ramp up revenues.
There will be profit next quarter.



Außerdem geht das Gerücht um, daß die RCMP die 6,7 Millionen $ am Freitag freigibt.

[Mr. Bucket]

Danke Spatzi

Wenn Gerüchte brodeln, kommt die Aktie wieder in dne focus desAnlegerinteresses. Auch wenn man nix genaues weiß.

Im Ernst, so richtig bescheid weiß keiner. Das mit den Programmierern schwebt ja schon seit längeren im Raum, obgleich bei starnet verlautete, dßa man keine Prgrammierer entlassen wollte sonder anders Personal (vielleicht Jason King? *gggg*). Aber das hat ja auch wieder nix zu sagen...

Und RCMP ist ein Dauerbrenner, weil eh jeder weitere Tag ohne Lösung die Farce dieser Ermittlungen noch steigert.

Mir solls egal sein, hauptsache man redet wieder über die Aktie! Der Rest kommt ganz von allein, wenn das nächste Quartal wirklich positiv sein sollte, sin Kurse um 3$ nicht as unrealistischste. Sollte RCMP gelöst sein (im Februar läuft mal wieder ne Frist ab), gibts die auch schon eher.

MfG
Ingmar (KCD)

[Mr. Bucket]

Ach ich vergas...

Genius, kennst du idch mit der Steuergesetzgebung in USA aus? Kann man da auch Verluste innerhalb eines Jahres gegenrechnen und wie sieht das mit den Fristen zum Widerkauf aus? Was das angeht bin ich nämlich absoluter Leihe... How much hahtte da sowas erwähnt.

MfG
Ingmar (KCD)

[Offi]

Kann man schon, ja - bei SNMM wir auch in den letzten Wochen einiges an Tax-Selling und Tax-Buying (gestern) dabei gewesen sein.

grüsse

Offi

[Mr. Bucket]

Jason King wurde gefeuert, so wie es aussieht. Das wurde aber auch mal Zeit! Aber lest selbst. Ist wohl ein Schreiben an Lcenseesw. Ich glaube das jetzt einfach mal ohne nähere Quellenangabe .

January 4, 2001

To: All Starnet Licensees

Re: Message From Starnet`s Chief Executive Officer

Today, we have taken the difficult but necessary step of terminating approximately 30 employees from our subsidiary company, Inphinity Interactive Inc. This has been done as the first step of an organization-wide effort to reduce our expenses and create a profitable business structure that will provide long-term stability for our employees, our business partners, and licensees.

As part of today`s changes, Jason King and Gwen Medcraft have left the organization. In addition, we have scaled back the number of people that work in production. However, through sub-contracting and outsourcing certain components of website design and production, we anticipate that we will be able to provide the level of service that you require.

We recognize that this is a very important time for our licensees, as Inphinity begins the roll-out process of our Beyond 2000 software to you. We also know that several of you have projects currently in production with Inphinity, or scheduled for production. At this point, our top priority is to manage these projects to minimize any delays in delivering scheduled work to you.

Much thought and planning went into reorganizing our company. We ask you to bear with us during these next few days, as we iron out the wrinkles. This is the first phase of several planned changes to Starnet, each designed to be more focused on the player and the licensee, and each designed to be more responsible and accountable to you.

While there may be some issues to be resolved in the short term, we are confident that we are building a company that will be more responsible and accountable to you, our licensees. Our goal is to transform the company into a integration and delivery organization offering multiple products to our licensees across a standardized platform.

Please do not hesitate to contact me or the following individuals at telephone [phone] with any questions or concerns.

· Liam Gillen, Business Unit Operations
· Peter Richards, Business Unit Operations
· Martin Mullally, Business Strategy
· Mike Schnare, Licensee Relations [phone]
·
Thank you for your understanding and continued commitment to Starnet.

Yours truly,



Fred Hazell
Interim President and Chief Executive Officer
Starnet Communications International Inc.

MfG
Ingmar (KCD)

[shot99]

Bucket :
Ich glaube bei starnet gar nichts. Erst recht nichts ohne Quellenangabe. Soviel ich weiß ist Hazel einer der größten Aktionäre. Wer sollte ihn feuern wenn er nicht freiwillig geht ? Ich halte es für sehr wahrscheinlich, daß starnet der größte Pump&Dump des Universums ist.
Wir müßten uns in der Endphase der Aktioärs-Verunsicherung befinden. Wenn starnet die Probleme löst, und nur drei Quartale kräftiges Umsatzwachstum meldet dann wird der Aktienkurs zur Rakete. Ich warte da noch ein Jahr drauf.
Ansonsten wird es ein Totalverlust.

SHT

[olcapri]

ich glaube es auch. (das mit der Rakete) LOL

wir werden in die siebte Dimension der Kursstratosphäre
katapultiert (LOL)

olcapri

[olcapri]

wir Menschen haben die Angewohnheit, daß zu
glauben, was wir glauben wollen...

Aber ernsthaft:
Wenn es mal gut läuft, wird es schon einen
ordentlichen pull back geben, denke ich, hoffe ich,
glaube ich, bete ich,....

[shot99]

Beten ? Beten tu ich nicht.
Zumindest nicht für meine Aktien.
Aber wer weiß, bei starnet könnte es ja helfen.


SHT

[Mr. Bucket]

Also erstmal ist Fred Hazel besitmmt nicht der größte Aktionär und zweitens geht es nciht um FH sonder um Jason King, der wiederum auch kein großer Aktionär ist (nicht verwechseln mit Jason Buldoc!).

Weiterhin wurde die Entlassung bestätigt. Für mich heißt das, daß einer der größten Cashburner von Bord ist.

MfG
Ingmar (KCD)

[Offi]

Friday January 5, 9:35 am Eastern Time
Press Release
Starnet Reduces Inphinity Workforce to Streamline Operations
ST. JOHNS, Antigua--(BUSINESS WIRE)--January 5, 2001--Starnet Communications International Inc. (OTC-BB: ``SNMM``) (``Starnet``), a leading provider of interactive media and information systems for companies engaged in the Internet gaming industry, today announced a workforce reduction of approximately 30 employees at its Vancouver, B.C. based Inphinity Interactive subsidiary (``Inphinity``) in order to reduce expenditure levels and increase operating efficiencies.

As part of the reductions, Jason King, previously Inphinity`s Chief Executive Officer, has left the company. The reductions are effective immediately and are primarily in the managerial, administrative and support areas.

These actions are part of Starnet`s focus on aggressively pursuing opportunities to improve cash flow from operations without jeopardizing future revenue growth. The total salary and benefits associated with the departed employees is in the range of 1-1.2 Million dollars (U.S.). Inphinity`s core development team remains intact and will focus on producing superior software products for Starnet`s various business units, which have also been re-aligned to foster greater efficiency and accountability. Greater cost control mechanisms have also been implemented within the Inphinity organization and the Company anticipates taking further measures to reduce overall company-wide expenditures in the weeks ahead.

Interim President and Chief Executive Officer Fred Hazell commented ``we have taken these measures in order to make Starnet and its subsidiaries a leaner, more client-focussed business group. We are transforming our corporate culture from a software development focus to one devoted to business development and an improved bottom line. Starnet intends to transform itself into an integration and delivery organization offering multiple interactive gaming products to our licensees across a standardized technology platform. The activities now underway provide the basis for enhanced business performance going forward, and increased shareholder value.``

Offi

[shot99]

Beten hilft doch !

SHT

[shot99]

Beten hilft doch !

SHT

[olcapri]

In einem Punkt stimme ich Dir zu, shot,
für Aktien bete ich sicher auch nicht; nur
für die Gesundheit und die meiner Lieben.

ansonsten:

Beten tust Du nicht?

Dann gings Dir noch nie richtig dreckig

Gruß olcapri

PS: Im Schützengraben gab es keine Atheisten

[olcapri]

Man, was seid ihr für Schnarchnasen.

Heute ein Hupfer über 18 Prozent und
kein Kommentar???

Ja, ich weiß daß das wenige $$$ waren; aber
trotzdem, besser als 60% minus, oder?

olcapri