To: LPasko (0 )
From: Popiye Friday, May 1 1998 12:39PM ET
Reply # of 2300
Page two of Business Plan:
In a "Personal Encrypted Remote Financial Electronic Card Transaction" (PERFECT) wagering transaction, there needs to be an interface or service that acts as the connecting point between the bank(s) host processing centers that have processed the ATM card or smart card PERFECT wager and the gambling operators who need to acknowledge payment.
Betting Inc. is focused on being the Gate or Interface for the PERFECT wagering industry, and will charge a fee per PERFECT wagering transaction.
Betting Inc will receive the incoming command from the bank(s) host(s) processing center such as ET & T (EDS Hosts, XZY Hosts), who is the majority shareholder of Betting Inc, or from other banking host centers, that a PERFECT wagering transaction has occurred and who the gaming operator is that Betting Inc needs to contact for acknowledgement of the transaction.
The banking host(s) such as ET & T will stand by and wait to receive back the gaming operator acknowledgement of the PERFECT wager, which is received by Betting Inc who then passes on that data information to the bank host who will then ship (send electronically) the completed packet of information, bank authorization and gaming operator acknowledgement back to the waiting PEFECT device which will print a receipt (hard copy) for the player. See Appendix A. to understand teh complete PERFECT transaction.
It is important to note, that the PERFECT device being used for wagering, will have a migrated into the home or office (hotel room, etc..) as a convenient and safe way of using CREDIT CARD as a card read transaction, which is the lowest charge rate to the merchant and which gives the consumer the added safety of not giving out the credit card information to a $ 6.00 per hour operator.
This is the First vital point to focus on throughout the extent of the business plan.
The fact that the average person will be exposed to a PERFECT device from the local utility company to the catalog company to purchasing PERFECT equipment through multilevel. PERFECT devices will be used for many reasons...one of which is PERFECT wagering.
If you accept the forgoing discussions as being reality by 2001, then continue to read this business plan to learn more about the multimillion dollar PERFECT wagering market place, the PERFECT equipment that is now being introduced into the marketplace, and the supporting bank host system that will authorize PERFECT wagering transactions.
Well folks, my fingers are getting tired again. Later in the Business Plan discusses the funds they will receive for the transactions. IMHO it is good - but some of you financial wizards can break it down for us when I get to it. By the way, the March 98 Business Plan does say this also: There are presently 10 Million shares authorized.
9,600,000 have been issued. Of this issuance, 4,500,000 shares are free trading.
Will contact Anita this afternoon to find out if all the banks have provided their authorizations for money transfers. Best wishes:)
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