Q-Seven Systems, Inc. Comments On The Events At It's Online Casino Competitor Starnet Communications on Friday
MONHEIM, Germany--(BUSINESS WIRE)--August 23, 1999--Subsequent to the police raids at Starnet Communications' Headquarters in Vancouver, and the homes of it's officers, the Management of Q-Seven Systems, Inc. (OTC BB: QSSY), would like to state that it knows of no such charges against or investigations of it, its officers or directors. Q-Seven believes it is in compliance with the laws of all jurisdictions in which it does business.
Philipp Kriependorf, President of Q-Seven Systems, said: "We feel especially sorry for those investors who had shares of Starnet Communications in their portfolios and who have lost significant amounts of money due to these events. We are aware of the difficult legislative situation concerning online gambling in the US and Canada. However, we would like to point out that Q-Seven does not own any online gaming sites, nor does it intend to in the future. It does own six adult pay sites, but these sites cater only to the German speaking market and have been audited for legality of German authorities."
"Q-Seven Systems' primary focus is offering it's customers `User Management Software' that can be used to run various kinds of Internet businesses, including but not limited to, online finance, online gaming sites, adult entertainment, online auctions, online game shows, online shops, as well as many other forms of online businesses. We are currently in negotiations with various different groups involved in many different areas of business. This is one of the advantages of the Software -- its flexibility. Therefore, we are extremely optimistic and excited about the future of our Company due to the potential we see in our Software. We further believe that because we do not own, or intend to own, online casinos, that we are not vulnerable to the kinds of actions that the governments of the US and Canada are obviously taking towards online casinos allegedly taking bets from residents of their countries. However, we ask our investors and any potential investors to visit our website or contact us via e-mail in order to inform themselves about our businesses and any risk involved in them.
Q-Seven Systems website can be visited at: www.q-seven.com.
The management of Q-Seven cautions readers not to place undue reliance on "forward-looking" statements, such as "plans to," "is expected to," etc. which speak only as of the date made, when used in this press release, in filings with the SEC, in other public or stockholder communications, or in oral statements made with the approval of an authorized executive officer of the Company. Such statements are based on certain assumptions and expectations which may or may not actually occur and which involve various risks and uncertainties.
SOURCE: Q-Seven Systems, Inc. |
