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Saturday, December 3, 2022

The Inside Scoop on SeanieMac International Ltd (OTCMKTS:BETS)

SeanieMac International Ltd (OTCMKTS:BETS) is making an explosive move up on accelerating volume after hitting a recent all-time low of $0.0012. Of late there have been significant debt conversions that have held the price down, however the buy volume here is notable so once these shares are gone BETS could see some explosive upside.

On February 23 BETS announced that in an effort to maximize shareholder value it will seek shareholder approval to reduce its authorized shares from 2,000,0000 to 850,000,000.

Shane O’Driscoll CEO “With the recent conversions of debt and with our anticipated credit facility we wanted to set a reasonable upper limit on the number of shares than can be issued. We have left what we believe is a substantial reserve and do not intend to automatically issue shares equal to our authorized amount.”

BETS has certainly got the attention of small cap investors transforming itself over the past month from illiquid to one of the top traded stocks on the entire bb’s. SeanieMac International Ltd (OTCMKTS:BETS) is an Irish gaming company that owns and operates seaniemac.com, a well-developed domain with significant traffic mostly from Ireland.

seaniemac.com offers wagering for many categories outside of sports but their primary focus is to capture the Irish market by focusing on the Gaelic Athletics Association (GAA) or Gaelic Games as well as Irish horse racing and soccer. The Company’s mission is to provide a market-leading, user-friendly website for online gambling, including sports betting and casino gaming (traditional casino, live casino, poker, bingo and interactive skilled games). The Company does not market to U.S. residents and, hereby specifically discourages them from attempting to access its wagering services.

As its national pastime, the Gaelic Games have long been popular in Ireland but they are gaining worldwide appeal, especially in areas with large communities of Irish heritage and their descendants, such as the U.S., Canada, Australia and the United Kingdom, where many communities have their own teams and clubs participating in the Gaelic Leagues locally and internationally.

The Irish gambling industry generated approximately $23.7 billion in revenue in 2014, with $2.3 billion of that amount generated online. The Irish online gambling sector is projected to reach $4 billion in 2016.

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BETS has been coming out with some EPIC press in recent weeks; they announced a $5 million dollars non-toxic credit facility that can be repaid in shares but only at the direction of the Company and only at prices approved by the Company and when directed by the Company at 90 percent of market value at the time of conversion.

CEO Shane O’Driscoll said “We have no intention of using the full credit facility at this time as we believe we only need a small portion of the credit line (300-500k) to substantially increase the size of our business. The growth of our customers and revenue is the only reason to set this financing up.We do think that having the credit facility in place over the next 1-2 years will allow us to not only organically grow the business but to focus on strategic acquisitions of other sportbooks. As one of the top 100 online gaming sites we believe there are numerous players that would be attractive acquisition candidates by SeanieMac.

In January BETS said ”it has entered into an exclusive marketing agreement with Overseas BC Marketing, Inc. (“OBCMI”) pursuant to which OBCMI will market SeanieMac’s online web-based waging services and products. The marketing agreement will provide a platform that allows for revenue sharing on new accounts generated by OBCMI. This platform will allow customers to use bitcoin for wagering by interfacing with SeanieMac’s wagering platform. SeanieMac believes this will appeal to many customers, due to the prevalence of bitcoin use overseas.

This puts BETS at the forefront of gaming platforms allowing crypto currency (bitcoin) to be used for wagering, and expects that its credibility in the wagering markets will give bitcoiners confidence in interfacing and using its platform for wagering purposes.

Last week BETS announced turnover revenue in January was approximately $883,770 and a gross profit for the accounting period was $74,163 which represents the Company’s largest gross profit in any accounting month since they began operations. For all of 2014 turnover revenue was $10,750,114 with a gross profit of $643,200 according to the Company. BETS is not without its risk; this is a pink sheet stock with a history of losses and massive dilution who’s filings are unaudited.

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BETS is quickly becoming a favorite amoung small cap investors who have been busy accumulating the millions of new shares coming into the market as debt conversions rule. The news coming from the Company is nothing short of spectacular. If this type of buy volume continues BETS could turn explosive once the conversions are over.

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Disclosure: we hold no position in BETS either long or short and we have not been compensated for this article.

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