GNCC Capital, Inc. (OTC:GNCP) (“The Company”) updates on its
operations and provides revenue guidance on its operations as
follows:
Gold Coast Gaming Corp (“Gold Coast”) subsidiary Revenues
(Actual):
August, 2014: Actual Gross Gaming - $664,510
September, 2014: Actual Gross Gaming - $830,203
October, 2014: Actual Gross Gaming - $1,027,255
Revenues and profits for both August and September, 2014 will be
accounted for in the Company’s financial year ended on September
30, 2014 as GNCC’s acquisition of Gold Coast was effective August
11, 2014. Gold Coast and its two operating subsidiary companies
were profitable in these months, with their profits, revenues and
gross gaming being higher than Management’s forecasts and they
remain debt free.
Forward Guidance for this First Quarter ending December 31, 2014
in respect of Gold Coast:
October, 2014: Actual Gross Gaming - $1,027,255
November, 2014: Projected Gross Gaming: $1,078,000*
December, 2014: Projected Gross Gaming: $1,085,000*
*Excludes the anticipated acquisitions of two additional
operating Arcades in this First Quarter ending December 31,
2014.
Gold Coast’s Management has raised both their Gross Gaming,
Revenues and Profit Guidance for this First Quarter ending December
31, 2014; primarily due to seasonal increases for South Florida;
and coupled with increased spend by Gold Coast on targeted
advertising and promotions in both Arcades. Gold Coast, prior to
any acquisitions, is forecasting Gross Gaming of $3,190,255 or this
First Quarter ending December 31, 2014.
It is anticipated that Gold Coast will acquire an additional two
Arcades in this quarter with similar revenues and profits to the
two Arcades owned by Gold Coast. Should these acquisitions be
consummated in this First Quarter, revised Gross Gaming, Revenues
and profit guidance for this First Quarter, will be published.
NOTE: GNCC Management does not intend to publicly project the
EBITDA projections from Gold Coast until they are expected to
exceed an amount of $250,000 in any Fiscal Quarter.
Management Commentary on Gold Coast:-
GNCC’s Press Release dated August 12, 2014 stated that “At
present, with its initial two operational sites, Gold Coast is
expected to generate annual net revenues of $1.6 million and Annual
Gross Gaming of $4,500,000.” This statement is hereby revised, as
follows:-
“At present, with its initial two operational Arcades, Gold
Coast is expected to generate Annual Gross Gaming in this fiscal
year ending September 30, 2015, of $11,000,000, this excludes the
impact of further acquisitions.”
Furthermore, this statement in that same Press Release dated
August 12, 2014, “That Management expects that Gold Coast will own
and operate no less than six such operations by October 31, 2014.
This is expected to result in annual net revenues of $5 million and
Gross Gaming of $15 million”; is hereby revised as follows:-
“Management expects that Gold Coast will own and operate no less
than four such operations by December 31, 2014. This is expected to
result in annual Gross Gaming of $22 million. The anticipated
acquisition of two additional Gaming Arcades in the Second Quarter
ending March 31, 2015, bringing the number of Arcades to six, is
expected to result in annual Gross Gaming of $33 million.”
The Company’s rationale for the acquisition of Gold Coast and
its strategy for Gold Coast remains as the expansion through the
immediate term acquisitions of an additional four similar and well
established gaming operations in South Florida and for cash. It is
however anticipated that the Company will acquire two in the First
Quarter ended December 31, 2014 and an additional two in the Second
Quarter ended March 31, 2015. The Company has secured the requisite
funding for these additional four immediate term acquisitions and
will be issuing shares of the Company’s Series D Convertible
Preferred Stock at a price of $1.00 each; in settlement of this
funding.
Substantially more acquisitions by Gold Coast, post March 31,
2015 are planned and it is noted that the number of these
acquisitions will be limited only by the Company’s ability to raise
funds outside of its own retained cash earnings, as will be
required to facilitate such further acquisitions.
It is GNCC’s policy that Gold Coast retain all of its operating
profits and cash to assist in the funding of its acquisitions of
additional Arcades; and as such, Gold Coast does not contribute to
the funding of any other GNCC activities whatsoever.
Management Commentary on other GNCC Interests:
The Company acquired Reputation Managers, LLC (“RM”), effective
on September 18, 2014. This Company is performing in line with RM
Management’s forecasts and GNCC’s Management does not expect a
material impact upon Group Revenues and profits from RM in this
First Quarter ended December 31, 2014. RM remains profitable and is
debt free.
Based upon RM Management’s forecasts, RM should begin to
contribute increased revenues to GNCC’s Consolidated Revenues in
the Second Quarter commencing January 1, 2015. RM should begin to
contribute to GNCC’s Consolidated EBITDA only in the Third Quarter
commencing April 1, 2015; due to noncash charges incurred by RM in
this First Quarter ending December 31, 2014. RM is not expected to
contribute in excess of $1 million in Gross Revenues for the fiscal
year ended September 30, 2015. GNCC does not anticipate any cash
contribution from RM to either GNCC directly or to the funding of
any other GNCC activities in this fiscal year ending September 30,
2015. RM’s Management does not envisage making any “bolt on”
acquisitions in this First Quarter ending December 31, 2014.
NOTE: GNCC Management does not intend to publicly project the
EBITDA projections from RM until they are expected to exceed an
amount of $150,000 per Fiscal Quarter.
The Company has no plans to expend funds on further Mining
Exploration in this First Quarter ending December 31, 2014 and will
continue to seek third party partnerships or Joint Ventures for
this Division. GNCC Management does not expect to announce any such
actions in this First Quarter ending December 31, 2014. Management
is examining proposals which may well result in a restructuring of
the Company’s Mining Exploration interests early in the Second
Quarter commencing January 1, 2015.
Potential Additional Acquisitions:
GNCC is not, at this date, expecting to complete upon any
additional acquisitions* in this First Quarter ending December 31,
2014.
*Excluding the anticipated acquisition of two additional Arcades
in its Gold Coast subsidiary.
It is envisaged that the Company may well now only complete the
proposed acquisition of the Index Related Futures Trading Business,
early in the Second Quarter commencing January 1, 2015. At this
date, GNCC is not envisaging any additional acquisitions in this
First Quarter ending December, 2014 with the exception of two
further acquisitions in its Gold Coast subsidiary.
About GNCC Capital, Inc.:
GNCC Capital, Inc. is a Diversified Holding Company which at
present has Revenue Generating, Cash Positive and Profitable
subsidiary companies which are engaged in the owning and operation
of Adult Social Gaming Arcades based in South Florida. Internet and
Social Media Reputation Management Services operating from
Carlsbad, California. The Company also has significant assets in
Gold & Silver Mining Exploration in Arizona. GNCC Capital, Inc.
is a Current Information Filer on the OTC Markets.
The Company’s most profitable assets, at this time, are our
Adult Social Gaming Arcades in South Florida which are currently
operating under our Gold Coast Gaming Corporation and as “Boardwalk
Brothers” and ”Play It Again”. The Company is aggressively pursuing
suitable acquisition targets in South Florida and in this
Sector.
The Company also intends to continue to diversify into other
Industry Sectors through acquisitions and as they present
themselves; only upon our stated criteria.
Forward-Looking Statements:-
This press release may contain forward-looking statements. The
words "believe," "expect," "should," "intend," "estimate,"
"projects," variations of such words and similar expressions
identify forward-looking statements, but their absence does not
mean that a statement is not a forward-looking statement. These
forward-looking statements are based upon the Company's current
expectations and are subject to a number of risks, uncertainties
and assumptions. The Company undertakes no obligation to update any
forward-looking statements, whether as a result of new information,
future events or otherwise. Among the important factors that could
cause actual results to differ significantly from those expressed
or implied by such forward-looking statements are risks that are
detailed in the Company's filings, which are on file with the OTC
Markets Group.
GNCC CAPITAL, INC.Ronald Y Lowenthal,
702-951-9793Executive Chairmancorporate@gncc-capital.comorPeter
Voss, 702-951-9793Chief Executive
Officercorporate@gncc-capital.comorInvestor
Relations:investor@gncc-capital.comwww.gncc-capital.comhttps://twitter.com/GNCCCapital[We
would be very appreciative if all investor questions be directed to
this E mail address and not to our telephone voicemail until such
time as we have appointed a dedicated Investors Relations Firm whom
will deal with all telephonic enquiries]
GNCC Capital (CE) (USOTC:GNCP)
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