Convertible note triumph for eBet, page-5

salus you said that ebt is expecting $2.4 million npat for 2003. after the convertible bond issue there will be over 200 million shares in ebt which works out to be profit of about 1.2c per share. not to long ago the board said ebt would make 2-3c per share for 2003! ebt has a history of promising and not delivering and they have done it again. be careful of this company and there promises.

ebt had $1.2 million in cash at the end of the quarter and they were going to be $500,000 cash flow negative for the quarter. they have debt to repay of about $1.3 million in january so where is ebt going to get the money from. they also have non-operating payments of $380,000 for the quarter. they are sailing very close to the wind with there cash and if there is the slightest hiccup they will be insolvent. with the consumer in the states losing confidence will ebt make its revenue forecasts? because if they don't ebt will go under. this company could be very dangerous to your wealth.