| Business Summary | | Nico
Telecom,
Inc.,
formerly
known
as
Far
East
Ventures,
Inc.,
through
Sophisticated
Communications,
Inc.,
is
in
the
communications
business,
including
prepaid
phone
cards.
The
Company
was
originally
organized
to
engage
in
any
lawful
corporate
business
including,
but
not
limited
to,
participating
in
mergers
with
and
acquisitions
of
other
companies.
The
Company
has
been
in
the
developmental
stage
since
inception,
and
has
no
operating
history
other
than
organizational
matters
until
it
acquired
Churchill
Resources,
Inc.
in
2000.
The
Company
selected
Churchill
because
it
had
positioned
itself
to
enter
the
horse
racing
and
gaming
business
with
the
proposed
acquisition
of
the
Orangeville
Raceway
asset
outside
Vancouver
Canada
(Fraser
Downs
Raceway).
The
Company
signed
a
Letter
of
Intent
in
March
2000,
to
acquire
an
additional
horse
racing
property
on
Vancouver
Island
outside
Victoria
Canada
(Sandown
Raceway).
Until
August
2000,
the
Company
operated
in
the
horse
racing
and
gaming
industry. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Nico
Telecom,
Inc.,
through
Sophisticated
Communications,
Inc.,
operates
in
the
communications
business,
including
prepaid
phone
cards.
Prior
to
August
2000,
the
Company
operated
in
the
horse
racing
and
gaming
industry.
For
the
nine
months
ended
9/30/00,
the
Company
reported
no
revenue.
Net
loss
totaled
$5.5
million,
up
from
$0.
Higher
loss
reflects
increased
selling,
general
and
administrative
expenses. | More
from
Market Guide: Significant
Developments |
| Officers | |
| Position | Michael Fletcher | Chairman,
CEO, Chief Operating Officer | Joel Velazquez | CFO | Sean Fletcher | Sec. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|