Omicron Acquires Kaleidoscope's BINGO Operations
BELLINGHAM, Wash., Jul 20, 1999 (BUSINESS WIRE via COMTEX) -- OmicronTechnologies, Inc. (OTC BB:
OGPS) has completed an agreement with Kaleidoscope International Ltd. of Belize for the acquisition of its
BINGO operations software in exchange for 250,000 restricted common shares of Omicron.
In addition to the development software and design, Omicron acquires Kaleidoscope's Java camera system and
three URL's, including MaXum Bingo. The BINGO software will be completed by Cyberweb Systems Inc.,
Omicron's wholly owned subsidiary, and Kaleidoscope's technical team. It is expected to take approximately three
months to complete the programming of the BINGO Web site followed by a period for beta testing.
This new acquisition expedites Omicron's development of "next generation" BINGO software for Internet gaming
Web sites. Internet BINGO is in the early stages of development, as there are very few active gaming Web sites
providing the opportunity to play BINGO for money. Analysts, familiar with the worldwide gaming business, predict
that gross revenues from Internet BINGO will exceed $4 Billion annually over the next two years.
This unique BINGO software will not require the downloading of software and will not use computer generated
numbers to play. This BINGO Web site will display, in real-time using a JAVA-based camera system, a "Live
Bingo Hall" from three different angles showing the hall itself, the number board and the BINGO balls as they
come out of the machine. A payout of 50% will be made to winners with an additional 10% hold back accumulated
for "bonus" games. With an average of 100 people playing per hour, the gross revenues generated are projected to
exceed $26 Million annually. Omicron is to receive 40% of the net revenues from its BINGO Web site. Operating
costs are anticipated to be relatively low.
Omicron's management believes that this new acquisition will diversify and greatly enhance its efforts to establish
itself as a preferred supplier of online gaming systems and a leader in the Internet gaming industry. Some of
Omicron's competitors are: Bingo.com Inc. (OTC BB:BIGG), Bingo & Gaming International Inc. (OTC BB: BING),
Casinolive.com (OTC BB: YBET), Cryptologic (TSE:CRY.TO), GLC Limited (Nasdaq: GLXW), Starnet
Communications International Inc., GIC Global Entertainment Corp. (OTC BB: GGNC) and YouBet.com (Nasdaq:
UBET).
Omicron Technologies, Inc. is in the business of acquisition, research and development, and marketing of leading
edge technologies for the Aerospace, Telecommunications, Defense, Consumer Electronics and Internet-based
business concepts. Through the combined strategy of focusing on marketing niches and speedy development of
its proprietary technologies, Omicron hopes to gain significant market penetration in these areas.
NOTE: Safe Harbor for Forward-Looking Statements Except for historical information contained herein, the
statements in this news release are forward-looking statements that are made pursuant to the safe harbor
provisions of the Private Securities Litigation Act of 1995. Forward-looking statements involve known and unknown
risks and uncertainties that may cause the company's actual results in the future periods to differ materially from
forecasted results. These risks and uncertainties include, among other things, volatility of prices, product demand,
market compensation, risk inherent in the company's international operations, imprecision of reserve estimates
and the company's ability to replace and expand reserves.
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CONTACT: Omicron Technologies, Inc.
Barrett Sleeman, 877/903-2288
www.omicrontechnologies.com
www.market-infocom.com
www.4value.com
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