Parts I liked and found informative from the most recent filing today...boy its long!
DESCRIPTION OF BUSINESS
The Business Vision of the Company.
The Company believes that by the year 2001, anyone with global
telephony will own or have access to different types of hardware
that can send ATM card with PIN or smart card payments to merchants.
ATM card with PIN or smart card payments are the same-as-cash (only
the merchant can reverse the transaction). These devices will
enable the consumer to send in what the Company calls transactions
which are Personal Encrypted Remote Financial Electronic Card
Transactions ("PERFECT"). These PERFECT transactions will originate
from homes, offices, cars, hotel rooms, and publicly placed PERFECT
equipment.
The driving industries behind the placement of these PERFECT
devices into the home will be the telephone, utility, cable,
finance, insurance and direct response industries who: (a) want
their banked consumers to pay cash from the home rather than a
check; and (b) want their non-banked consumers to pay cash from the
home rather send in a money order or walk in to pay the bills. The
Company estimates that over $1 billion in advertising and marketing
will be willingly spent by these industries over the next two years
to educate their consumers to pay their bills by same-as-cash
hardware enabled PERFECT transactions.
The Human Nature Question: The Company then asks the basic
question: After these PERFECT devices have migrated into global
homes as a simple same-as-cash bill payment device, then how long
before the average consumer demands to use the same device for
PERFECT wagering?
The PERFECT wagering marketplace: Presently, the global
wagering marketplace is estimated at $800 billion dollars. By 2001,
it is estimated at $1 trillion dollars.
The Company conservatively estimates that 30% of this or $300
billion dollars will be originating as PERFECT wagers from homes and
offices and cars. The long term goal of the Company is to establish
itself as the global leader in servicing PERFECT wagers.
The Company has also recently acquired Rogel Technologies, an
Internet related software firm. Rogel Technologies has signed a
Licensing Agreement with JVC who will sell the "secure email" to
Pacific Rim companies. These companies will pay $5.95 US per
employee per month. JVC will pay Rogel Technologies 50% of the
monthly fees. JVC expects to launch this business in about 2
months. The purpose of the acquisition is three fold:
1. Rogel Technologies is developing the Merchant Response Software
which is supplied by the Company to the gaming companies to respond
back to the PERFECT bank host commands through eGate.
2. The development of the PERFECT Portal which is where merchants
will go to download their PERFECT Merchant Response Software and the
consumer will go to find out who are the PERFECT merchants accepting
PERFECT transactions.
3. To receive the projected 3 year $20 million in profits from the
JVC sale and servicing of "on line secure email".
The Mechanics of a PERFECT Wager.
A PERFECT wager is Jane Simms, effecting a $100 home Lottery
wager at 2 a.m. with her PERFECT hardware, which may have been made
by Panasonic and delivered to her by Bell Atlantic as a bill payment
device. After inserting her ATM card and inputting her bank
assigned PIN, she sends the transaction toll free by modem to the
Company bank host or to another bank host who is driving the
transaction. In seconds, her card is authorized and the cash has
been withdrawn from her bank account. Since real cash in real time
is now on the way to the Lottery, the Company bank host needs to
receive back an acknowledgment from the Lottery that the wager has
been accepted and that Jane Simms is the player.
The next step is the long-term revenue generator for the
Company. The bank host, which could be the Company, or X host or Y
Host then connects with eGate, the transaction division of the
Company, who then connects with the Lottery and basically says
computer to computer: "We have the cash completed, send back your
acknowledgment of the wager and we'll pass it on to the bank host
who is waiting for your reply." In about 6 seconds, Jane Simms is
receiving a printed receipt if she has a stand alone PERFECT device
or an email if she used a wireless mobile PERFECT device. Her
receipt will state the time and date of the transaction, the
numbers. She chose and her bank card authorization. Her receipt
will also state any instant taxation of any winnings which may have
already been sent to her bank account.
Jane could have just as easily played Bingo or Black Jack or
entered into a game of Bridge where she used her PERFECT equipment
and her interactive television to see her fellow 2 a.m. Bridge
players who all ante up real cash into a Pot to be held by an Ante
Up service, with the winner then receiving her cash less Federal and
State taxes and the 10% Ante Up service fee.
Business and Goals of the Company.
A portion of the Company business will be in electronic
("eGate")gate servicing hundreds of global bank hosts, who are
driving in millions of incoming second by second PERFECT wagers
which are originating from a variety of different PERFECT hardware
devices, such as the Company's patented stand alone PayMaster or
wireless PocketPay or Internet related SLICK or patent pending TV
Pin Pad Remote. eGate connects these bank hosts to the gaming
companies and sends back the gaming company "pay per play same as
cash acknowledgment" to the bank host.
One goal of the Company is to establish its presence in
Europe, Asia and Latin America as the prime source to service
PERFECT wagers. Management of the Company feels that the Company is
at least 2 years ahead of any other competition, which at the
present time is minimal.
The Business Structure of the Company.
The Company is composed of two principal divisions: eGaming
and eGate. The reader already understands that eGate is directly
dependent upon the emergence, marketing and distribution of
basically free PERFECT devices for home entry as same-as-cash bill
payment devices.
The Company is priming the pump by now distributing the
Company PayMaster in public locations. This PayMaster will enable
consumers to pay bills, shop from catalogs while waiting for the car
to be cleaned or the oil to be changed or a business meeting to
start in a hotel lobby, and to use their ATM card to open or
replenish their gaming accounts with eSportsbet.com and 777WINS.com,
two divisions of the Company with operations in Costa Rica.
The business of eGate is a long term development. Today,
PERFECT wagers do not exist. Over the next few months, the Company
will effect PERFECT wagers with eSportsbet.com and 777WINS.com.
The immediate 12 month goal of the Company is to acquire
gaming companies in the market segments of bingo, lottery, slots,
and racing. We already have acquired the market segment of internet
casino which is 777WINS.com and the market segment of sports bets
which is eSportsbet.com.
The acquisitions serve three purposes:
1. They are driving in revenues and profits for the Company.
2. They will serve as test beds for PERFECT wagering.
3. They will act as Group Gates to connect the PERFECT wager with
competitors in their specific market segment and they will take
a fee for the service. |
