Remember EBT MD Cullen's outlook last September 14?
"As we suggested earlier this week, we have taken the opportunity to tidy up the balance sheet at this time as we anticipate that FY2001 will be the Company's last year of operating losses".
With EBT now staring down the barrel of a loss around $4m, how could Cullen get it so wrong?
Why would anyone believe any of his new projections?
While EBT has been preoccupied with losing losing money, and still not managing to launch their ultra-hyped cashless "no-brainer" at a significant venue, competitors have watched EBT's claimed two year first mover advantage evapourate.
Gaming machine manufacturers can integrate cashless options within their units, thus making EBT's product redundant. And they appear to be doing just that.
And much fiercer competition in EBT's online wagering segment, due to absence of barriers to entry.
ITQ Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
