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Selectis Health Inc (PK)

Selectis Health Inc (PK) (GBCS)

2.10
0.00
(0.00%)
Closed July 20 4:00PM

Professional-Grade Tools, for Individual Investors.

Key stats and details

Current Price
2.10
Bid
1.30
Ask
2.50
Volume
-
0.00 Day's Range 0.00
1.05 52 Week Range 6.25
Market Cap
Previous Close
2.10
Open
-
Last Trade
Last Trade Time
Financial Volume
-
VWAP
-
Average Volume (3m)
1,992
Shares Outstanding
3,067,059
Dividend Yield
-
PE Ratio
-1.61
Earnings Per Share (EPS)
-1.3
Revenue
36.78M
Net Profit
-4M

About Selectis Health Inc (PK)

Selectis Health owns and/or operates healthcare facilities in Arkansas, Georgia, Ohio, and Oklahoma, providing a wide array of living services, speech, occupational, physical therapies, social services, and other rehabilitation and healthcare services. Selectis focuses on building strategic relation... Selectis Health owns and/or operates healthcare facilities in Arkansas, Georgia, Ohio, and Oklahoma, providing a wide array of living services, speech, occupational, physical therapies, social services, and other rehabilitation and healthcare services. Selectis focuses on building strategic relationships with local communities in which its partnership can improve the quality of care for facility residents. With its focused growth strategy, Selectis intends to deepen its American Southcentral and Southeastern market presence to better serve the aging population along a full continuum of care. Show more

Sector
Real Estate Investment Trust
Industry
Misc Amusement & Rec Service
Headquarters
Salt Lake City, Utah, USA
Founded
2012
Selectis Health Inc (PK) is listed in the Real Estate Investment Trust sector of the OTCMarkets with ticker GBCS. The last closing price for Selectis Health (PK) was $2.10. Over the last year, Selectis Health (PK) shares have traded in a share price range of $ 1.05 to $ 6.25.

Selectis Health (PK) currently has 3,067,059 shares outstanding. The market capitalization of Selectis Health (PK) is $6.44 million. Selectis Health (PK) has a price to earnings ratio (PE ratio) of -1.61.

GBCS Latest News

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
10000000CS
40.861.53846153851.32.11.311151.91034071CS
120.1522.51.319922.18870077CS
26-1.9-47.5441.319752.11249542CS
52-2.9-5856.251.0524013.47766622CS
1561.45223.0769230770.657.730.5541092.50888889CS
2601.78556.250.327.730.12113360.75435095CS

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GBCS Discussion

View Posts
MikeyInTheD MikeyInTheD 2 years ago
There is no value here. Stock is going to zero. SNF business is terrible right now - worst area of health care. Unprofitable facilities and itโ€™s only going to get worse from here. Sell now at whatever price you can.
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MikeyInTheD MikeyInTheD 3 years ago
Considering starting a small position. Looks like the company is finally serious about some ROI on this faculties.
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Renee Renee 3 years ago
Global Healthcare REIT Inc. changed to Selectis Health Inc. and a one for 10 reverse split:

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes
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today32 today32 3 years ago
1/10 Reverse Split hit the daily list today: https://otce.finra.org/otce/dailyList
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Golden Cross Golden Cross 4 years ago
GBCS pink current
https://www.otcmarkets.com/stock/GBCS
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Golden Cross Golden Cross 5 years ago
Merger SOS out UTSOS

Trying to find out more...

https://secure.utah.gov/bes/details.html?entity=698994-0142
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MikeyInTheD MikeyInTheD 5 years ago
...still interesting if they could get some better terms on the debt. Terrible industry for cash flow.
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MikeyInTheD MikeyInTheD 6 years ago
Should have stayed in the casino business. Sold them off to related party and took up this healthcare REIT nonsense. In review of their assets, it appears they have purchased underperforming facilities that are in need of many capital improvements. They sink money into the improvements but dont see a substantial increase in lease rates.

I am very involved in the healthcare / nursing home industries and think GBCS could be a viable company if they can discard the unused facilities for any cash. Then invest in growing markets with an aging population.
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NathanH NathanH 9 years ago
Wow that spread.
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NathanH NathanH 10 years ago
Updated website
http://www.gbcsreit.com./holdings/

Experienced management
Global Healthcare REIT (OTC: GBCS) is a Healthcare REIT specializing in Senior Housing. Our mission is simple: To increase shareholder value through strategic purchases of senior care facilities that can be leased to proven leaders in the senior care operations industry.

Led by Christopher F. Brogdon, the Global Healthcare REIT Team has decades of experience and a track record of success in the Senior Care Industry. We invite you to learn more about our management team below.
CHRISTOPHER BROGDON, PRESIDENT AND CHIEF EXECUTIVE OFFICER

Mr. Christopher Brogdon is President, Chief Executive Officer, Director of Global Healthcare REIT, Inc., (f/k/a Global Casinos, Inc.). Brogdon is currently Vice Chairman of AdCare Healthcare Systems, Inc. (NYSE MKT: ADK). He has been in the assisted living, nursing home and retirement community business for more than 25 years. Mr. Brogdon co-founded Winter Haven Homes, Inc. in 1987. Winter Haven Homes, Inc. developed, owned and operated assisted living and nursing homes primarily in the Southeastern United States. Winter Haven is primarily involved with owning and leasing the operations to third parties today. From 1991 through June of 1998, Mr. Brogdon served as the Chairman of the Board of Retirement Care Associates (RCA), a NYSE listed company that operated more than 120 assisted living and nursing home facilities. From 1994 through June of 1998, Mr. Brogdon was also Chairman of Contour Medical (Contour), a NASDAQ listed company that was in the medical supply business. In 1998 and 1999, Mr. Brogdon was also Chairman of NewCare Health Corporation a NASDAQ listed company in the assisted living and nursing home business. Mr. Brogdon co-founded J. Christopherโ€™s in 1996, a restaurant specializing in breakfast, lunch and brunch. Today there are twenty one stores in operation and two under development. Since 1999, Mr. Brogdon has been an owner and the manager of Brogdon Family, L.L.C., which owns nursing homes, assisted living facilities, restaurants and commercial real estate. Mr. Brogdon is a founding board member of the Georgia Coastal Alzheimerโ€™s Association which serves thirteen South Georgia counties. Mr. Brogdon is also on the advisory board of SCAD Atlanta, (Savannah School of Art & Design).



PHILIP SCARBOROUGH, CHIEF FINANCIAL OFFICER

Mr. Scarborough previously served as Chief Financial Officer of West Paces Ferry Healthcare REIT, Inc. from inception in 2013 until its acquisition by Global Healthcare REIT, Inc. Mr. Scarborough is a CPA and has practiced as a sole practitioner for the last several years. Mr. Scarborough served as Chief Financial Officer for a technical firm with contracts with United Space Alliance, operators of the Space Shuttle program. Mr. Scarborough was previously employed by Arthur Andersen & Co. and Arthur Young, both national CPA firms. He is Chief Financial Officer of the Company.



RYAN SCATES, CORPORATE SECRETARY AND IN-HOUSE COUNSEL

Mr. Scates began working for Chris Brogdon at Winter Haven Homes in 2013 in a management capacity to facilitate healthcare facility acquisitions. Ryanโ€™s experience includes working in the Office of the Executive Counsel to the Governor of Georgia, and as a member of the University of Georgia Athletic Association Board of Directors, where he spearheaded the implementation of the Young Alumni Development and Ticketing Program. Ryan holds undergraduate and law degrees from the University of Georgia. In law school, he was elected class president his first and second years, and later student body president during his third year. Ryan lives in Atlanta and is a member of Gridiron. He is Secretary of the Company.



STEVEN BATHGATE, OUTSIDE DIRECTOR

Mr. Steven Mark Bathgate is Director of Global Healthcare REIT, Inc. he resigned has secretary of the company on October 3, 2013. He is a funder and Senior Managing Partner of GVC Capital LLC, a registered broker-dealer and investment bank located in Greenwood Village, Colorado since 1996. Prior to starting GVC Capital, he was Chairman and Chief Executive Officer of Cohig & Associates, Inc., an investment banking firm. He received a BS degree in Finance from the University of Colorado.



JOHN SHEEHAN, OUTSIDE DIRECTOR

Mr. John Joseph Sheehan, Jr., is Director of Global Healthcare REIT, Inc., (f/k/a Global Casinos, Inc.). He has served as President of Ocoee Foundation, Inc. a non-profit that owns three nursing homes located in Tennessee. He is an owner/operator of eight for-profit nursing homes located in Tennessee and served as Senior Investment Officer for Nationwide Health Properties, Inc., Cleveland, Tennessee

Global Healthcare REIT has Equity Ownership and leases the following facilities to third-party operators:

1. Middle Georgia Nursing Home. Eastman, Georgia. (100 Licensed Beds)

2. Southern Hills Skilled Nursing Facility. Tulsa, Oklahoma. (106 Licensed Beds)

3. Southern Hills Assisted Living Facility. Tulsa, Oklahoma. (86 Units)

4. Southern Hills Independent Living Facility. Tulsa, Oklahoma. (32 Units)

5. Providence of Warrenton. Warrenton, Georgia. (110 Licensed Beds)

6. Goodwill Nursing Home. Macon, Georgia. (110 Licensed Beds)

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RickKayne RickKayne 10 years ago
How long until they buy another property. Very interesting sector, definitely early stage REIT.A
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NathanH NathanH 10 years ago
This company has announced some really good news I see pps doubling within the next year.
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Renee Renee 11 years ago
Global Casinos Inc. changed to Global Healthcare REIT Inc.:

http://www.otcbb.com/asp/dailylist_detail.asp?d=10/04/2013&mkt_ctg=NON-OTCBB
๐Ÿ‘๏ธ0
Bob22701 Bob22701 12 years ago
GBCS - 5 year price chart:



GLTA
Bob
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Bob22701 Bob22701 13 years ago
Does GBCS have a company website?

I would like to add GBCS to an industry board but I require an active website before I do.

Thanks & GLTA
Bob
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Bob22701 Bob22701 13 years ago
GBCS - IHUB News Link:

IHUB News Link

GLTA
Bob
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morganmoney morganmoney 13 years ago
lets get this baby going people! GO GBCS!
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mrbizzard mrbizzard 13 years ago
Oh yeah..Im sure once the PRs begin flowing this baby will pick up steam. Especially this time of year. Football Baseball Basketball and hockey betting...
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morganmoney morganmoney 13 years ago
i see, ninja style.
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mrbizzard mrbizzard 13 years ago
have no idea. ive been sitting bid and building my position..
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morganmoney morganmoney 13 years ago
looks like we have some movement, where's the interest in this stock?
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mrbizzard mrbizzard 13 years ago
you still following this 1?
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mrbizzard mrbizzard 13 years ago
nice PR..been very quiet around here
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di4 di4 15 years ago
Global Casinos' Third Quarter Net Revenue Increases 71%
Operating Cash Flow Improves 50% Versus Year-Ago Period; Company Prepares for Expanded Gaming in Colorado
May 14, 2009 1:32:00 PM


Email Story Discuss on ZenoBank

View Additional ProfilesBOULDER, CO -- (MARKET WIRE) -- 05/14/09 -- Global Casinos, Inc. (OTCBB: GBCS) today announced financial results for its third quarter ended March 31, 2009.

Third quarter net revenue increased 71% to $1,584,000 versus net revenue of $928,000 in the third quarter last year. The increase was due largely to Global's March 2008 acquisition of the Doc Holliday Casino in Central City, which contributed only 13 days of revenue to last year's third quarter. The improvement also resulted from a 14 percent quarter-over-quarter revenue increase at Global's flagship Bull Durham Casino.

Global reported third quarter operating income of $26,000 versus an operating loss of $25,000 in the third quarter a year ago. The Company reported a third quarter net loss attributable to common shareholders of $25,000, or less than $0.01 per diluted share, versus a net loss attributable to common shareholders of $51,000, or $0.01 per diluted share, in the third quarter last year.

Through nine months, net revenue increased 76% to $4,764,000 from $2,714,000 in the comparable period last year. Global reported a loss from operations of $46,000 versus income from operations of $143,000 in the comparable prior-year period. The decline in operating income relates primarily to increased expenses associated with the acquisition of Doc Holliday. Net loss attributable to common shareholders was $218,000, or $0.04 per diluted share, versus net income of $71,000, or $0.01 per diluted share, at the nine-month mark last year.

For the nine months ended March 31, 2009, Global reported cash flow from operations of $547,000, up 50% versus the $365,000 reported at the nine-month mark last year. The Company ended the third quarter with cash and cash equivalents of $1,305,000 and total current assets of $1,505,000.

Clifford L. Neuman, president, said, "The continued growth at our legacy Bull Durham Casino continues to buck the trends of the broader gaming industry, which is still being challenged by the weak economy. An outstanding management team, strong loyalty program, superior customer service and advanced player tracking system are collectively fueling Bull Durham's solid quarter-over-quarter growth."

Neuman added, "We continue to focus on implementing similar programs at our Doc Holliday property, and are currently seeking options to fund these investments, as well as to refinance our debt and enhance our working capital position.

"We are preparing to enter the most active period of our fiscal year, and we expect this summer to be particularly busy given the upcoming kick off of expanded gaming in Colorado's casino towns. Beginning July 2, higher wager limits, extended hours of operation and new casino games should begin to attract larger crowds and a broader demographic to our gaming communities. We remain optimistic about the impact these changes, coupled with our internal continuous improvement efforts, could have on Global Casinos' long-range financial performance."

About Global Casinos, Inc.

Global Casinos, Inc. owns and operates the Bull Durham Saloon and Casino and Doc Holliday Casino, located in Colorado's limited stakes gaming districts of Black Hawk and Central City, respectively.

Safe Harbor Statement

Certain statements in this news release that are not historical facts are forward-looking statements, such as statements relating to anticipated enhancements in the Company's financial performance, and future development or expansion activities. Such forward-looking statements involve a number of risks and uncertainties that may significantly affect performance and financial results in the future and, accordingly, actual results may differ materially from those expressed in any forward-looking statements. Such risks and uncertainties include, but are not limited to, those related to effects of competition, leverage and debt service financing and refinancing efforts, general economic conditions, changes in gaming laws or regulations (including the legalization of gaming in various jurisdictions), risks related to development and construction activities, as well as the other risks detailed from time to time in the Company's SEC reports, including the report on Form 10-KSB for the year ended June 30, 2008.


GLOBAL CASINOS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended March 31, 2009 and 2008
(unaudited)


2009 2008
----------- -----------

Revenues:
Casino $ 1,627,142 $ 966,364
Promotional allowances (43,246) (38,590)
----------- -----------
Net Revenues 1,583,896 927,774

Expenses:
Casino operations 1,514,393 926,156
Operating, general, and administrative 43,301 26,276
----------- -----------
1,557,694 952,432

Income (loss) from operations 26,202 (24,658)

Other income (expense):
Interest (37,355) (21,689)
Equity in earnings of Global Gaming
Technologies (60) (904)

Income (loss) before provision for income taxes (11,213) (47,251)
Provision for income taxes - -
----------- -----------

Net income (loss) (11,213) (47,251)

Series D Preferred dividends (14,000) (3,700)
----------- -----------
Net income (loss) attributable to common
shareholders $ (25,213) $ (50,951)
=========== ===========

Earnings (loss) per common share:
Basic $ (0.00) $ (0.01)
=========== ===========
Diluted $ (0.00) $ (0.01)
=========== ===========

Weighted average shares outstanding:
Basic 5,955,215 5,282,193
=========== ===========
Diluted 5,955,215 5,282,193
=========== ===========



GLOBAL CASINOS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
for the nine months ended March 31, 2009 and 2008
(unaudited)


2009 2008
----------- -----------

Revenues:
Casino $ 4,884,500 $ 2,829,589
Promotional allowances (120,155) (115,241)
----------- -----------
Net Revenues 4,764,345 2,714,348

Expenses:
Casino operations 4,588,744 2,445,784
Operating, general, and administrative 221,440 124,937
----------- -----------
4,810,184 2,570,721

Income (loss) from operations (45,839) 143,627

Other income (expense):
Interest (120,009) (61,581)
Equity in earnings of Global Gaming
Technologies (6,743) (7,126)
Loss on asset disposals (2,743) -
----------- -----------

Income (loss) before provision for income taxes (175,334) 74,920
Provision for income taxes - -
----------- -----------

Net income (loss) (175,334) 74,920

Series D Preferred dividends (42,622) (3,700)
----------- -----------
Net income (loss) attributable to common
shareholders $ (217,956) $ 71,220
=========== ===========

Earnings (loss) per common share:
Basic $ (0.04) $ 0.01
=========== ===========
Diluted $ (0.04) $ 0.01
=========== ===========
Weighted average shares outstanding:
Basic 5,935,507 5,272,634
=========== ===========
Diluted 5,935,507 5,359,814
=========== ===========



GLOBAL CASINOS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS


March 31, June 30,
2009 2008
----------- -----------
(unaudited)
ASSETS

Current Assets
Cash and cash equivalents $ 1,305,104 $ 1,163,416
Accrued gaming income 148,746 219,821
Inventory 21,415 16,469
Prepaid expenses and other current assets 29,789 92,972
----------- -----------
Total current assets 1,505,054 1,492,678

Investment in Global Gaming Technologies 54,104 60,847

Land, building and improvements, and equipment:
Land 517,950 517,950
Building and improvements 4,121,308 4,121,308
Equipment 3,119,816 3,057,670
----------- -----------
Total land, building and improvements, and
equipment 7,759,074 7,696,928

Accumulated depreciation (4,267,595) (3,900,633)
----------- -----------
Land, building and improvements, and equipment,
net 3,491,479 3,796,295

Goodwill 1,898,496 1,898,496
----------- -----------

Total assets $ 6,949,133 $ 7,248,316
=========== ===========



GLOBAL CASINOS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS


March 31, June 30,
2009 2008
----------- -----------
(unaudited)

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:
Accounts payable, trade $ 239,053 $ 75,196
Accounts payable, related parties 16,781 68,332
Accrued expenses 301,501 359,461
Accrued interest 4,361 6,390
Joint venture obligation 28,150 30,000
Current portion of long-term debt 2,074,270 589,581
Other 252,133 254,105
----------- -----------
Total current liabilities 2,916,249 1,383,065

Long-term debt, less current portion - 1,659,411

Commitments and contingencies

Stockholders' equity:
Preferred stock: 10,000,000 shares authorized
Series A - no dividends, $2.00 stated value,
non-voting, 2,000,000 shares authorized,
200,500 shares issued and outstanding 401,000 401,000
Series B - 8% cumulative, convertible, $10.00
stated value, non-voting, 400,000 shares
authorized, no shares issued and outstanding - -
Series C - 7% cumulative, convertible, $1.20
stated value, voting 600,000 shares
authorized, no shares issued and outstanding - -
Series D - 8% cumulative, convertible, $1.00
stated value, non-voting 1,000,000 shares
authorized, 700,000 shares issued and
outstanding 700,000 700,000
Common stock - $0.05 par value; 50,000,000
shares authorized; 5,955,215 and 5,865,215
shares issued and outstanding 297,761 293,261
Additional paid-in capital 14,024,971 14,027,093
Accumulated deficit (11,390,848) (11,215,514)
----------- -----------
Total equity 4,032,884 4,205,840
----------- -----------

Total liabilities and stockholders' equity $ 6,949,133 $ 7,248,316
=========== ===========

CONTACTS:
Clifford L. Neuman
President and CEO
Global Casinos, Inc.
303-449-2100

Geoff High
Principal
Pfeiffer High Investor Relations, Inc.
303-393-7044

๐Ÿ‘๏ธ0
PROBLEM SOLVER PROBLEM SOLVER 16 years ago
RECENT NEWS:

Global Casinos Announces 120% Increase in Fourth Quarter Operating Income on 96% Improvement in Revenue

Existing Casino Revenue up 19% Versus Year-Ago Quarter

BOULDER, CO, Oct 13, 2008 (MARKET WIRE via COMTEX) -- Global Casinos, Inc. (OTCBB: GBCS) today announced financial results for its fourth quarter and fiscal year ended June 30, 2008.
Fourth quarter revenue increased 96% to $1,688,000 from $860,000 in the same period a year ago. The increase is attributable to the Company's March 2008 acquisition of the Doc Holiday Casino in Central City, as well as improved quarter-over-quarter results at its flagship Bull Durham Casino in Blackhawk. Fourth quarter income from operations increased 120% to $95,000 from $43,000 in the year-ago fourth quarter. Net income increased to $49,000 from $12,000 in the fourth quarter last year, while net income attributable to common stockholders was $35,000, or $0.01 per diluted share, versus $12,000, or $0.00 per diluted share, in the fourth quarter a year ago.

Clifford L. Neuman, president, said, "Our aggressive efforts to strengthen Global's core casino operations resulted in a 19% quarter-over-quarter increase in organic revenue during the fourth period. We attribute this increase to the strength of our casino management software platform, as well as our employees' attention to customer service and the enhancements we have made to our targeted advertising and marketing programs. Collectively, these efforts helped fuel a marked improvement in our customer retention levels."

"The momentum Bull Durham carried at the end of the fourth quarter has continued into the new year," Neuman added. "In spite of challenging economic conditions, we currently expect to achieve a first quarter revenue increase at Bull Durham of between 10% and 12% versus the same quarter last year."

Neuman said management is now focused on improving the financial and operational performance of Global's recently acquired Doc Holiday property. "Like many local and national casinos, Doc Holiday has experienced declining revenue trends in recent quarters, and this will likely continue into the first fiscal period of 2009. We are working to combat this situation with tighter cost controls and targeted marketing programs. Doug James, our president and general manager of casino operations, spearheaded the successful growth initiatives at Bull Durham, and will now oversee the implementation of similar marketing and customer loyalty programs at Doc Holiday. Given our operational team's track record, we are optimistic that Fiscal 2009 will be a year of continued improvement at both of our casino properties."

Neuman said potential passage of a Colorado ballot initiative could further enhance Global's prospects for long-term financial growth. "Proposed changes to Colorado's gaming laws could significantly improve the economic prospects Colorado's casino industry. If passed, Amendment 50 would allow local gaming communities to increase wager limits to $100 from the current $5 limit. In addition, casinos could add roulette and craps to their gaming portfolios, and expand their hours of operation. We believe that the increase in wager limits will attract additional local and out-of-state customers, who normally would go to jurisdictions with higher wager limits. At present, this amendment is leading in the polls and has received widespread support from local media, business organizations and educational institutions. Given the financial benefits this amendment would bring to Colorado's community colleges and three gaming towns, we are optimistic it will pass in November."

Full-year 2008 Highlights

For the full fiscal year ended June 30, revenue increased 23% to $4,402,000 from $3,578,000 in fiscal 2007. Income from operations was $238,000 versus $245,000 a year ago. The decline is largely attributable to added expenses associated with the Doc Holiday Casino acquisition. Full-year net income increased to $124,000 from $119,000 in fiscal 2007, while income attributable to common stockholders was $106,000, or $0.02 per diluted share, versus $119,000, or $0.02 per diluted share last year.

About Global Casinos, Inc.

Global Casinos, Inc. owns and operates the Bull Durham Saloon and Casino and Doc Holliday Casino, located in Colorado's limited stakes gaming districts of Black Hawk and Central City, respectively.

Safe Harbor Statement

Certain statements in this news release that are not historical facts are forward-looking statements, such as statements relating to anticipated enhancements in the Company's financial performance, and future development or expansion activities. Such forward-looking statements involve a number of risks and uncertainties that may significantly affect performance and financial results in the future and, accordingly, actual results may differ materially from those expressed in any forward-looking statements. Such risks and uncertainties include, but are not limited to, those related to effects of competition, leverage and debt service financing and refinancing efforts, general economic conditions, changes in gaming laws or regulations (including the legalization of gaming in various jurisdictions), risks related to development and construction activities, as well as the other risks detailed from time to time in the Company's SEC reports, including the report on Form 10-KSB for the year ended June 30, 2008.

GLOBAL CASINOS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
for the three months ended June 30, 2008 and 2007
2008 2007
----------- -----------
Revenues:
Casino $ 1,731,506 $ 894,476
Promotional allowances (43,400) (34,525)
----------- -----------
Net Revenues 1,688,106 859,951
Expenses:
Casino operations 1,503,255 770,134
Operating, general, and administrative 90,175 46,858
----------- -----------
1,593,430 816,992
Income from operations 94,676 42,959
Other income (expense):
Interest (44,398) (20,866)
Equity in earnings of Global Gaming
Technologies (1,562) (10,209)
----------- -----------
Income before provision for income taxes 48,716 11,884
Provision for income taxes - -
----------- -----------
Net income 48,716 11,884
Series D Preferred dividends (14,156) -
----------- -----------
Net income attributible to common shareholders $ 34,560 $ 11,884
=========== ===========
Earnings per common share, basic and diluted: $ 0.01 $ 0.00
=========== ===========
GLOBAL CASINOS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
for the years ended June 30, 2008 and 2007
2008 2007
----------- -----------
Revenues:
Casino $ 4,561,095 $ 3,738,142
Promotional allowances (158,641) (160,020)
----------- -----------
Net Revenues 4,402,454 3,578,122
Expenses:
Casino operations 3,949,039 3,071,360
Operating, general, and administrative 215,112 261,297
----------- -----------
Total operating expenses 4,164,151 3,332,657
Income from operations 238,303 245,465
Other income (expense):
Interest (105,979) (93,800)
Equity in earnings of Global Gaming
Technologies (8,688) (30,465)
Loss on asset disposals - (2,123)
----------- -----------
Income before provision for income taxes 123,636 119,077
Provision for income taxes - -
----------- -----------
Net income 123,636 119,077
Series D Preferred dividends (17,856) -
----------- -----------
Net income attributable to common shareholders $ 105,780 $ 119,077
=========== ===========
Earnings per common share:
Basic $ 0.02 $ 0.02
=========== ===========
Diluted $ 0.02 $ 0.02
=========== ===========
Weighted average shares outstanding:
Basic 5,836,006 5,158,249
=========== ===========
Diluted 5,923,088 5,273,247
=========== ===========
GLOBAL CASINOS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
June 30, June 30,
2008 2007
----------- -----------
ASSETS
Current Assets
Cash and cash equivalents $ 1,163,416 $ 1,563,968
Accrued gaming income 219,821 39,273
Inventory 16,469 7,410
Prepaid expenses and other current assets 92,972 13,606
----------- -----------
Total current assets 1,492,678 1,624,257
Acquisition escrow deposit - 100,000
Investment in Global Gaming Technologies 60,847 69,535
Land, building and improvements, and equipment:
Land 517,950 517,950
Building and improvements 4,121,308 4,110,685
Equipment 3,057,670 2,347,232
----------- -----------
Total land, building and improvements, and
equipment 7,696,928 6,975,867
Accumulated depreciation (3,900,633) (3,383,760)
----------- -----------
Land, building and improvements, and equipment,
net 3,796,295 3,592,107
Goodwill 1,898,496 -
Total assets $ 7,248,316 $ 5,385,899
=========== ===========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable, trade $ 75,196 $ 47,226
Accounts payable, related parties 68,332 24,850
Accrued expenses 359,461 243,100
Accrued interest 6,390 3,852
Joint venture obligation 30,000 40,000
Current portion of long-term debt 589,581 52,664
Other 254,105 120,000
----------- -----------
Total current liabilities 1,383,065 531,692
Long-term debt, less current portion 1,659,411 1,899,647
Commitments and contingencies
Stockholders' equity:
Preferred stock: 10,000,000 shares authorized
Series A - no dividends, $2.00 stated value,
non-voting, 2,000,000 shares authorized,
200,500 shares issued and outstanding 401,000 401,000
Series B - 8% cumulative, convertible, $10.00
stated value, non-voting, 400,000 shares
authorized, no shares issued and outstanding - -
Series C - 7% cumulative, convertible, $1.20
stated value, voting 600,000 shares authorized,
no shares issued and outstanding - -
Series D - 8% cumulative, convertible, $1.00
stated value, non-voting, 1,000,000 shares
authorized, 700,000 shares issued and
outstanding 700,000 -
Common stock - $0.05 par value; 50,000,000
shares authorized;
5,865,215 and 5,202,909 shares issued and
outstanding at June 30, 2008 and 2007,
respectively 293,261 260,146
Additional paid-in capital 14,027,093 13,632,564
Accumulated (deficit) (11,215,514) (11,339,150)
----------- -----------
Total equity 4,205,840 2,954,560
----------- -----------
Total liabilities and stockholders' equity $ 7,248,316 $ 5,385,899
=========== ===========

CONTACTS:
Clifford L. Neuman
President and CEO
Global Casinos, Inc.
303-449-2100

Geoff High
Principal
Pfeiffer High Investor Relations, Inc.
303-393-7044


SOURCE: Global Casinos, Inc.
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