Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Lol, I gave up in early sept. I hope it's good to you.
Is This A Good Stock? -e-
Sumpin must be going on....lol
the reason for the drop is two things people were spooked that they wouldn't get anything from the deal and the second thing is you may have to wait 18 months for the proceeds from the deal, so some did not wanna wait that long
As I read on I see .03 a share toward WNED.
Nice. So WNED gets 6.8M payable in Betbroker shares. How much is BETB shares worth? Anyone?
Look at the following link on approval from SEC.
http://www.betbrokers.com/content/news/financial/2007/28082007.html
I think so.
It looks like it is getting close, we have alot of buying interest starting here off the lows. This one could be alot of fun in the days and weeks ahead.
I told everyone that this stock was going to ZERO in spite of the pathetic lies and shady deals allegedly made to try to prop this piece of garbage up.
Sure hope most of your folks got out in time.
thanks, but i meant the finalization of buyout pr, it said they expected it to close around august 23rd so maybe around that time
Thursday May 24, 1:11 pm ET
LAS VEGAS & LONDON--(BUSINESS WIRE)--Winning Edge International, Inc. (WEI) (OTCBB: WNED - News) has received a Letter of Intent from Betbrokers plc (AIM-London: BETB), publicly traded on the London AIM exchange (BETB), to acquire all of the operating assets of WEI for $6.5 million in Betbrokers stock. The Winning Edge Board has approved the Letter of Intent and, pending financing to retire existing debt, has directed management to complete due diligence and a definitive purchase agreement to present to Winning Edge shareholders.
ADVERTISEMENT
Chairman of Betbrokers, Wayne Lochner, stated, "The acquisition of Winning Edge International is a major step in our global growth strategy. It provides us a high-profile United States presence and brings us the expertise and tools to rapidly expand the Winning Edge business model into Europe. A key component of this transaction is the addition of Wayne Allyn Root as a part of our Betbrokers global expansion strategy. Wayne, who will become a key member of our management team, has the name recognition, skills and experience as a television host and spokesman to be invaluable in helping us produce and create gaming programming and build databases of gamblers in the UK and throughout the world. Our combined talents and experience will allow us to build sports handicapping web sites first in the UK, and then globally to provide winning advice on international sports such as soccer, cricket, rugby and horseracing. The addition of Wayne and the Winning Edge team and assets greatly enhances both the near- and long-term future of Betbrokers."
Wayne Allyn Root added: "My goal for Winning Edge has always been to build a global brand leader and expand our handicapping advice to international sports. Joining with Betbrokers gives Winning Edge and its shareholders that opportunity. With their UK gaming experience, we will be well positioned to roll out the Winning Edge business model globally and to expand our brands into the legal gaming arena for non-American bettors."
About Betbrokers Plc
Betbrokers is the world's first independent betting brokerage, providing punters, bookmakers, and other organizations an efficient way to access the wide range of prices & propositions within the modern gambling market. Betbrokers began placing bets on behalf of clients in September 2005. The service operates from a brokerage trading room in the heart of London's new financial district, Canary Wharf. Our brokers are trained experts and have been recruited from both the gambling & financial markets.
About Winning Edge International, Inc.
Winning Edge International, Inc. is America's only publicly traded sports handicapping company. Winning Edge International, Inc. specializes in developing and marketing sports handicapping advice and information via television (Wayne Allyn Root's WinningEDGE (TM)), radio and the Internet (www.WinningEDGE.com) and (www.ewinners.com). The Company produces high-quality sports and gaming entertainment programming and sells advertising and sponsorship opportunities on their TV and radio properties, as well as marketing opportunities to an exclusive database of more than 1 million predominantly male sports and gaming fans.
All statements included in this press release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors could cause actual results to differ materially from the expectations that are disclosed in this press release. While Winning Edge International, Inc. believes its forecasting assumptions are reasonable, there are factors that are hard to predict and influenced by economic and other conditions that are beyond Winning Edge International, Inc.'s control. Among the other important factors which could cause actual results to differ materially from those in the forward-looking statements are detailed in Winning Edge International, Inc.'s filings with the Securities and Exchange Commission.
Contact:
Winning Edge International, Inc., Las Vegas
Douglas Miller, 702-967-6000
www.WinningEDGE.com
--------------------------------------------------------------------------------
Source: Winning Edge International, Inc.
is wned gonna pr the buyout?
Better to wait then sell at current price - From the filing the shareholders have the potential of receiving up to .03 a share if one is willing to wait 18 months for things to work out. That's 15 times the current share price. Even if only a penny is realized, that would be 5 x the current price. At the current price, I don't have much to lose, but waiting provides an opportunity to make some bucks. From the filing:
Once the loan is repaid, any remaining Betbrokers’ securities will be returned to our transfer agent, Colonial Stock Transfer who will act as escrow agent to assist in the sale of Betbrokers’ stock and distribution, if any, to our shareholders. The proceeds from any Betbrokers’ stock sale, after the loan is repaid, will be distributed to our shareholders. At this time, we are uncertain if any proceeds will be available for distribution. Additionally, given the number of shares we have outstanding of 129,849,845, and given effect to a conversion of Series B Preferred resulting in additional 4,622,220 shares, even if the remaining Betbrokers shares are sold for the entire purchase price of $6,800,000 less the $2,100,000 loan repayment, the $4,700,000 to be distributed, less expenses, would result in only $0.03 per share to shareholders. It is unlikely this distribution would occur for some time since the loan must be paid first. Additionally, it is likely there will be additional expenses to pay as part of the liquidation and we cannot predict how Betbrokers’ stock will do from a price standpoint over time.
QUESTION TO ANYBODY,
Is this the time to start buying these stocks as a play only ?
like WNED & BETM ? with the season starting in football ?
seems logical to get a play going ?
any thoughts ?
Thanks
joea
well this pos still has a chance if aesk can run even though shareholder won't get anything why not
Oops that was "owes" not "owns".
When a company owns more than its valued, that's how.
From the SEC filings:
http://www.sec.gov/Archives/edgar/data/924396/000136177307000031/winningedgeschedule14cbetbro.htm
For example:
"Future Operations
We will be terminating operations and will not be in business following this asset sale. At this time, we do not know if shareholders will receive any proceeds from the asset sale and no distributions will be received by shareholders for at least eighteen months.
And:
"While there is a substantial likelihood that shareholders will receive nothing as a result of the asset sale to Betbrokers"
Worse:
"Will there be any funds or shares of Betbrokers to distribute to Shareholders?
At this time, we have to pay existing obligations before any shareholders can receive any payments. Presently, we do not know if there will be anything left to distribute to shareholders. We are hopeful that we can pay the existing obligations and still have some funds to pay to shareholders, but the amount, if any, is unkown, and may not even be as much as our current share price. Because of our need for cash to pay debts, we will enter into an agreement to pledge the shares of Betbrokers as part of a loan for up to $2,100,000. The loan will be repaid through the sale of Betbrokers stock. The proceeds of the loan will be used to pay existing obligations, repay advances from Betbrokers and fund current operations during the transfer of business to Betbrokers. The loan is necessary since we have to have cash at closing to pay off existing debts which are secured by our assets and the agreement with Betbrokers limits our ability to sell the stock of Betbrokers for a period of time."
Sure hope you folks who were screaming .04 or .05 learned your lesson(sorry .004 isn't "quite" .04) with this scadalous, screaming POS which calls itself a company.
Market cap is only .5M...the deal states that BB are going to pushase winning edge for 6.5M worth of BB stock. So, shareholders of WE should get stock options in BB.
Where did you see that the shareholders aren't getting anything?
124.85M os. But how can a company be bought without pay anything to shareholders?
124M outstanding according to TD,
Two major reasons I see:
1)
http://finance.yahoo.com/q/is?s=wned.ob
They lost money this quarter.
2) The deal that was supposed to go through isn't going through.
http://biz.yahoo.com/bw/070524/20070524005790.html?.v=1
what could be the resaons for this drop? What is the OS on this stock? tia
I had some of this but my look at the offer says that shareholders of WNED will get nothing from the betbrokers deal. No stock, no money. Might be wrong but I sold last week shortly after the SEC filing at .11. Lost a few bucks but could have lost a lot more.
Down 32.58% today with no news...hmmm
Sec filing on transaction
see link for sec filed agreement details
http://www.sec.gov/Archives/edgar/data/924396/000136177307000029/0001361773-07-000029-index.htm
Information from London Stock Exchange
My previous post was from a press release on the London Stock exchange. Below is an article from one of the London Newspapers detailing what Betbrokers is doing:
04 March 2007
By Mark Choueke, The Sunday Telegraph
Online gambling exchanges have brought a huge wave of liquidity to the market - but also worries about opportunities to abuse the system, says Mark Choueke.
When Britain's financial markets close on Friday evenings and tired traders crowd the City's bars looking for the first drink of the weekend, a parallel financial industry is still going strong and gearing up for its busiest trading day.
An estimated 15,000 former City traders and brokers currently make a living betting six and seven figure sums on horses and footballers - professionally trading on the sports gambling market as they would on foreign exchange, equities and commodities.
New middlemen such as Betbrokers, an Aim-listed betting exchange set up by former City broker Wayne Lochner, allow such traders to lay large wads of cash on sporting events.
Whereas ordinarily bookies may reject the bets or at least limit the stakes of a high roller with an abnormal success rate, Betbrokers' modus operandi is to take large amounts of money and break it up into smaller, more manageable sums before rapidly spreading the risk across a very large number of bookmakers.
Lochner says: "Where do financial investors and traders go after leaving the markets? These are street-smart market boys, many of whom lost their jobs when stock exchanges switched to electronic. Most don't know how to do much else but follow hunches and trade on their instincts."
Many unemployed traders try to trade from home, according to Lochner, but they find their margins reduced by the increasingly computerised nature of the industry. "By contrast the sports wager market is young, vibrant and perfect for these guys. You see traders buying and selling in fractions of a million pounds several times a week, with all their transactions totally tax-free."
Bookmakers use the service in reverse, hedging their positions to reduce potential losses by laying bets of their own through Betbrokers who then sell them to other bookmakers and traders.
Matchmaking of this kind - finding two parties whose needs complement one another - is nothing new in the industry, with betting exchange companies like Betfair having existed since the late 1990s.
But an explosion of interest in recent months has dramatically increased the scale of the gambling market, increasing liquidity and reducing spreads much as the Big Bang once did for the stock market.
Typical of the new breed of players is Steven Neale, a father of four from Barrow-in-Furness who, with three colleagues, quit his management job at BAE Systems four years ago. They pooled £17,000 between them and are now £1.3m up after matching bets of £500,000 every week.
Betfair generally pairs gamblers betting against one another with small stakes. Betbrokers, launched in 2005, gives gamblers and bookmakers equal status when it comes to buying and selling. Crucially, they aim to deal with very large stakes indeed. Such heavy betting activity is flushing liquidity into the sports betting industry, allowing bookmakers to take on ever more business and enabling them to offset losses.
According to industry figures, the phenomenon is responsible for almost doubling the value of the UK gambling market since 2001, from £27bn to £53bn.
National audit office statistics show that the value of the National Lottery, pools betting, casinos, bingo clubs and amusement machines remained fairly inert during that period. But the value of general betting, which includes sports betting through bookmakers as well as professional trading of this kind, exploded from £7bn to £32bn.
Many in the sporting world see a downside to anonymous betting exchanges on this scale. There is, after all, a good reason why traditional bookies have always been wary of accepting large bets from individual punters without first ascertaining what type of inside knowledge they might have.
The Horseracing Regulatory Authority suspended Robert Winston and three other jockeys from their sport last month for corruption through the use of Betfair.
While the betting exchange demonstrated the ability to adopt a strong policing role in the inquiry itself, many wonder whether the presence of such organisations fosters the potential for further such crimes - jockeys laying bets against their own horses - in the future.
Lochner discards the notion that Betbrokers should or could act as a regulator but says that it can bring extra probity to the industry. He says the team is determined to eliminate potential for money laundering and leads the market on tough rules over documentation and knowing its customers.
He also insists on a no-credit policy. "Customers can only bet with what they've got so we're promoting responsible gambling," he says. But sceptics remain. Gala Coral Group chief executive Neil Goulden admits his firm occasionally uses the exchanges and notes firms like Betbrokers are heavily relied upon by individual on-course bookmakers, but says: "The exchanges will tell you they monitor patterns and are able to help convict disreputable jockeys. But without the exchanges these fellows wouldn't be able to do what they're doing. The exchanges are not licensed, not regulated and not taxed."
Other industry figures and bodies are more positive about the exchanges however - and that includes bookmakers. Lochner says 20 per cent of Betbrokers' revenue came from bookmakers using the company to hedge their risk in the second half of 2006, compared to 10 per cent in the first half.
The likeable 49-year-old, who flew back from a week-long business trip to Las Vegas this week in time to host a charity virtual horse-racing gala sponsored by Betbrokers, claims that percentage has now reached 30 per cent, with bookmakers numbering 200 on his customer list compared to just 30 in January 2006. Revenue in 2006 was just over £1m. If analysts' predictions are correct it will be £ 500m in five years' time.
Lochner and his managing director John Raymond describe how former City traders transform themselves into experts on niche corners of the sporting world to ensure success. They examine trends and outcomes and know their market as they once knew gold, steel or futures. One trader may come to know a particular horse and everything that makes it tick; another may trade solely in Major League baseball or American football, hoping to garner advantage over a UK bookmaking industry less knowledgeable about the subject.
One Betbrokers client has become an authority on Nationwide Conference football and buys and sells hundreds of thousands of pounds worth of wagers every Saturday.
Listening to Lochner and Raymond, also a former broker, describing their clients' activities it is notable how strongly they see the similarity between what they do now and what they did when they worked the financial markets all over the world.
Lochner distinguishes between customers who are "jobbers", those who are "day-traders" and those who are "long-term-position traders, patiently risking high margins over long periods of time".
The technology in Betbrokers' trading room allows customers betting on the horses to lay a £200,000 wager across a number of takers as late as one minute before the traps open - when the price is most attractive and the wider market has made all its moves. Such customers might typically lay three or four such bets a day. Some Betbrokers customers trade in packs, hiring cheap office space and filling it with computer screens.
But typically, most trade on their own from home, preferring to keep their identities secret for a variety of reasons.
Many of the firm's clients refused to talk to The Sunday Telegraph on the record because remaining under the radar is important to them.
Some suggest that such large-scale tax-free betting may not remain tax-free for very long if attention was drawn to it.
Others - perhaps paranoid, perhaps not - claim they don't want bookies gathering information and being able to identify them as having specialist knowledge in the future.
Raymond says there is one football-betting client in particular who refuses to deal in stakes smaller than £50,000 but works full-time within the football industry and, though there is "no question of any impropriety", he treasures his anonymity.
One Betbrokers customer who is willing to talk is former foreign exchange trader Roger Mahoney. "These traders can access every price being offered across town through the likes of Betbrokers," he says.
"The smarter guys among them can do enough homework and hedge enough risk to make a lot of money. Leaving the City came as a shock to many of them: it can be difficult to earn a living with such specialist skills. You miss the income and the buzz of making deals. Many City traders feel like the luckiest people in the world - getting paid so well for doing something they love and when it's gone they feel the loss."
Another client, a former banker named Peter Askew, says: "I don't miss being a banker. While gambling doesn't replace the City for me it does substitute for it in many ways.
"Do I miss the commute or the stress? No. Do I miss the feeling of making a deal that I spotted before anyone and seeing it pay off? Yes of course. That's the part that is eased by trading on sport. If you've been in the City you're always looking to use your instincts - that never leaves you."
Both Mahoney and Askew deny that they deal in sums anything like as large as some of Betbrokers' other customers but both are aware of the grand scale on which some of this is taking place. Askew says: "I'm not a big spender like that - I wouldn't sleep at night. But it is natural for former City traders to need to replace their daily dose of risk with something.
"They have a natural talent; it's the barrow-boy syndrome. You can't be a City guy one day and switch it off and be a normal person the next."
Copyright: Telegraph Media Group Ltd
06 July 2007
Further to the announcement on 24 May 2007 Betbrokers plc, (AIM: BETB), the UK’s first retail and wholesale brokerage and clearing house for the sports betting industry, is pleased to announce that it has signed an Asset Purchase Agreement (the “Agreement”) with Global Sports Edge International, Inc. (“Global” or the “Seller”) to acquire the assets and business operations (the “Business”) of Global, which trades as Winning Edge, for a consideration of US$6.8 million payable in Betbrokers’ shares. The acquisition is subject to US Securities and Exchange Commission approval and the approval of Winning Edge International Inc. (“Winning Edge”) shareholders. Winning Edge is the parent company of Global.
The acquisition will allow Betbrokers to satisfy the growing and largely unmet demand for information on US sports and sports betting to its increasing UK and European customer base. Whereas betting on sports is illegal in the majority of US states, the provision of data and sports betting information, known as handicapping in the US, is legitimate and Winning Edge is a leading player in this growing market. In turn, Winning Edge will significantly benefit from Betbrokers’ offering of European sports information which will satisfy their market needs and enable them to sell this data along side their US information sales.
Under the terms of the Agreement the consideration will be satisfied through the issue of new Betbrokers’ shares (“Consideration Shares”) to the Seller. The value of the Betbrokers’ shares to be issued shall be determined by the average of the closing bid price on the five consecutive trading days prior to the completion of the transaction (“the Closing”). Under the terms of the Agreement the Consideration Shares are subject to a lock-in period whereby US$1.0 million of Consideration Shares will be locked-in for a period of 7 months from Closing, after 7 months these shares may be sold in tranches of up to US$160,000 per month for the following 5 months with US$200,000 being available for sale in the sixth month. The remaining US$5.8 million of Consideration Shares will be locked-in for a period of 12 months from Closing.
For the financial year to 31 July 2006 Winning Edge reported a turnover of US$5.601 million and a loss after tax of US$1.205 million. Approximately US$0.8 million of costs in the financial year ended 31 July 2006 were associated with US regulatory costs associated with Winning Edge’s US public listing. For the six months ended 31 January 2007 Winning Edge reported turnover of US$4.021 million and a loss after tax of US$0.358 million. It is expected that the acquisition of the Business of Winning Edge will make a positive contribution to Betbrokers’ earnings as the business will no longer be subject to the regulatory costs of the US public markets.
Wayne Lochner, Chairman and Chief Executive of Betbrokers, commented: “Acquiring Winning Edge’s business is a win-win for both parties. There is a huge amount of trading on US sports going on outside America and Betbrokers is now well positioned to provide and sell data to this large market which currently struggles to source detailed information on US sports. In addition, we are able to further empower our clients by offering longer trading hours and we are very pleased with the progress of the transaction.
“Aside from being likely to prove earnings enhancing, the transaction advances our overall strategy of developing a global service in which the selling of data is a crucial part and we look forward to integrating this business into Betbrokers’ existing growing operations.”
Closing is expected on or around 23 August 2007 and a further announcement will be made in due course.
For further information, please contact:
Betbrokers plc
Wayne Lochner, Chairman and Chief Executive
Tel: +44 (0) 8448552100
wlochner@betbrokers.com
www.betbrokers.com
Hanson Westhouse Limited
Tim Metcalfe / Matthew Johnson
Tel: +44 (0) 20 7601 6100
tim.metcalfe@hansonwesthouse.com
www.hansonwesthouse.com
Media enquiries:
Abchurch Communications
Chris Lane / Franziska Böhnke
Tel: +44 (0) 20 7398 7716
franziska.boehnke@abchurch-group.com
www.abchurch-group.com
About Betbrokers plc
Betbrokers is the UK’s first independent betting brokerage. The Company facilitates transactional business between both retail gamblers and wholesale clients. The Company’s operations were formally launched in 2005.
Betbrokers provides services, from its dedicated dealing room in London’s Canary Wharf, to two groups of participants within the gambling industry:
The Company provides its retail customers with the advantage of best price execution together with the ability to deal 'in size' in a majority of sporting events. Retail customers will soon be able to access advanced data-sales and trading analysis platforms, which feed from aggregated internal price mechanisms.
Betbrokers already has agreements with over 100 bookmakers, providing them with the opportunity to take on additional bets from retail customers. Importantly, the Company also offers bookmakers a facility to effectively manage their risk exposure by hedging positions anomalously using Betbrokers as an intermediary to deal with the other bookmakers.
Betbrokers floated on the AIM market of the London Stock Exchange in November 2006. Further information is available on the Company at: www.betbrokers.com
About Winning Edge
Las Vegas-based Winning Edge is America's only publicly traded sports information and tipping service, known as handicapping in the US. Winning Edge specialises in developing and marketing sports handicapping advice and information via television, radio and the Internet. The Company also produces high quality sports, television and radio programming and sells advertising as well as sponsorship and marketing opportunities to its exclusive database of more than one million sports and gaming fans.
The 'e' should be removed soon. - Winning Edge International, Inc. files Form 10QSB, Quarterly Report of Financial Condition
edited:update
even tho the form 10-k box is checked it has to be the 10-q that is being filed for extensions right?Since their year ends in July.
I guess that makes more sense except when you do a deal like that an 8k has to be filed speaking of filing the company filed a FORM 12b-25 Notification of late filing on JUNE 14 so that should help explain why the stock isn't moving up. IMO
The form states it was for form 10-K. One would think an Form 8-k would need filing if and when a definitive agreement is reached and filed within 3 days of the event .No acquisition will happen in my opinion until all SEC forms are in order and timely filed. Further delays will serve only to hurt the share price of current holders imo do your own dd.
it said "expected" in june so not definite plus they already probably did the deal in june and will annocnnce it in july
Time is running out for the deal to happen this month at least.The s stock might fall hard if the deal does not happen or if it is delayed.
should have a spike soon look at the three month chart
RBCM at .05. Now let's get this fat pig moving...lol
Someone poke it with a stick.
we really need a solid trade day to see where this is headed.Its a stick stuck in the mud at this point.
Nite has been holding this back for a while now. Once he moves we move IMO.
I have...I'm thinking that who is to gain in this deal and who would benefit most if they had our shares?I'm going to hold my shares so they will have to get them from somebody other than me.My opinion is that its still worth 3,4, cents and may be more.But they will take it down if they can just to get your our shares cheap.
Has the thought of possible collusion entered anyone's mind?
I was completely wrong in that post about the money conversion we don't see buyers coming in here soon I'm going to know I was also mistaken about certain assumptions I was making about the deal.Mostly that the deal would cause London investors to start buying this stock.
On a side note from Betbrokers...remember I said they told me the share price in on the London was =to 16 cents our money.Every time I check the currency converter it comes out like 16 dollars.I hope he was thinking what our share price should be after the deal....I might have been right after all about the 16cents...lol.
Followers
|
5
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
270
|
Created
|
07/14/05
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |