E-Mail from CEO of GAMZ Kelly Jones
Friends and shareholders:
Attached is this morning's press release announcing GameCom's intent to begin repurchasing the company's shares in the open market, as well as the GameCom's intent to complete the redemption of more than 750,000 shares of the company's outstanding shares.
Quite simply, this directors' resolution reflects our opinion that GameCom's shares are presently under-valued, and are indicative of the confidence we have in our "new" company, once the formalities of shareholder approval of the Ferris acquisition have been achieved and the deal has been consummated. (By the way, for informational purposes, we are hopeful of the merger's completion by late June or early July.)
Please recall our board's omnipresent goal -- and one that is shared with Ferris' management -- to take this company from the OTC Bulletin Board to an established exchange, either the AMEX or the Nasdaq Small Cap. Among other requirements, that move will require a share price of $3 or $4, respectively.
Knowing what we know about the combined company's potential, R&D, and projects in the pipeline, we believe the goal of moving to an exchange is obtainable within a not-too-distant timeframe. While we intend to use our revenue and other capital to fund operational growth and to reduce our combined debt with a view toward significant earnings per share in 2002, it is our board's belief, and now our publicly-stated intent, that another important use for the company's funds is to acquire what we consider to be under-valued shares. The obvious result will be to reduce the company's float, with the intended effect of ultimately increasing earnings per share.
As long as we consider our shares to be under-valued, it will be our intent to make a priority of acquiring the company's shares from the open market.
hese are simply my personal comments, and should not be relied upon in your investment decisions. I strongly urge you to conduct your own due diligence with regard to an investment in GameCom. I respectfully refer you to GameCom's filings with the Securities and Exchange Commission.
L. Kelly Jones, GameCom CEO
