?DSGT’s founder already successfully started and sold one company in the same sector (shares went to $11.50 with more than 2 times the number of shares outstanding)"
This is a newspaper report on the company that Dream is referring to:
GPS Industries Inc. is another bulletin-board disaster. A big one.
The Surrey-based company owns the rights to a hand-held and cart-mounted product that uses global positioning systems to tell golfers how far they are from the hole. The head of this company is Robert Silzer. He was previously president and CEO of Advanced Gaming Technology Inc, a bulletin board company that planned to manufacture and distribute electronic slot machines and high-tech bingo systems in China. The company went bankrupt in 1999.
Silzer has managed to attract some big investors for his latest venture, including golfer Greg Norman, who has sunk millions into the business. But the company has been burning cash like crazy, and its cumulative operating losses are now just under $100 million.
The stock, meanwhile, has slid from just over $10 in 2000 to its current price of six cents. Like I said, this is a disaster in the making – the stock market equivalent of a quadruple bogey. dbaines@png.canwest.com
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