Monday, June 13, 2005
next up BGII
The next company to look at is BGI, Inc
These guys sold "sweepstakes" machines which are amazingly similar to slot machines. Their equipment was seized during 2001 and 2002 and they went dark in 2003. Since then, they've been growing revenues and actually had a Q1 profit in March 2005. The stock has gone from a few cents to 40 cents and stayed there.
Of course there are a lot of obvious negatives about this company. They repriced their stock options, for one thing. This may not be as bad as it seems. With slimy people like this, you want their interests aligned with yours as much as possible.
This is an unlikely investment.
These guys sold "sweepstakes" machines which are amazingly similar to slot machines. Their equipment was seized during 2001 and 2002 and they went dark in 2003. Since then, they've been growing revenues and actually had a Q1 profit in March 2005. The stock has gone from a few cents to 40 cents and stayed there.
Of course there are a lot of obvious negatives about this company. They repriced their stock options, for one thing. This may not be as bad as it seems. With slimy people like this, you want their interests aligned with yours as much as possible.
This is an unlikely investment.
// posted by Bruce @ 7:41 AM 
