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September 14, 2004

SpeculatingStocks.com Stock Pick: AngelCiti Entertainment, Inc. (AGCI)

Stock Price: $1.35


AngelCiti Entertainment, Inc. is involved in the online casino space through their wholly owned subsidiary Worldwide Management. The company recently acquired an 85% stake in the issued and outstanding shares of Midas Entertainment, Inc. marking AngelCiti's entrance into online poker.

AGCI just completed a 1:100 reverse split lowering the issued and outstanding to 2.82 million. AngelCiti plans on rewarding its shareholders with an equity dividend in Midas Entertainment, Inc. (MDAS). The dividend date is set for September 22, 2004. Each share owned in AGCI will be rewarded with one share of MDAS.

MDAS is currently trading at $3.30 as a Pink Sheet issue. There is no telling what may happen to its shares after the equity dividend. More supply will create more liquidity. Buying demand will stay the same in turn lowering MDAS shares.

AGCI just needs to stake its claim in the online poker space, and it will become a great success. It won't be easy though considering its competition including PartyPoker.com and PokerStars.com.

AGCI went to as low as $0.70 and has since been rising steadily. It appears traders are accumulating before the MDAS dividend.


 
     
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