GGNC is down from $6.25 to $0.50 on Friday. Because of the problem you find below:
GIC Global Intertainment Files Lawsuit Against Post Time Sports Ltd.
LAS VEGAS, Sep 29, 1999 (BUSINESS WIRE) -- GIC Global Intertainment
Corporation (OTC BB: GGNC) located and licensed in the Commonwealth of
Dominica, W.I., an online developer and provider of gaming software &
technologies, broadcasting, and information; and a high technology
entertainment and marketing company that markets online sports books
and casinos, lotteries, and e-commerce web sites including
www.cyberbetz.com, www.y2klottery.com, www.sportzpage.com, today
announced that on September 3, 1999, GIC Global Intertainment
Corporation filed legal action by Writ of Summons, Civil Action,
against Post Time Sports, Ltd. in The High Court of Justice Antigua and
Barbuda for Breach of the Agreement and Memorandum of Understanding
dated April 28, 1999, whereby GIC Global agreed to acquire Post Time
Sports Book, Ltd., St. Johns, Antigua.
GIC Global claims damages from Post Time Sports for Breach of
Memorandum of Understanding signed by GIC Global and Post Time Sports
dated April 28, 1999, and for further breach by Post Time Sports of an
Agreement by Post Time Sports to sell to GIC Global the assets,
goodwill, license, equipment, furnishings and all capital stock of the
company.
GIC Global is represented by local Counsel Michael E. Bruney, Esquire,
Dominica, W.I., and Septimus A. Rhudd, Esquire, St. John's, Antigua,
W.I.
GIC Global intends to pursue this legal action vigorously for the
financial damages and loss of goodwill that GIC Global sustained as a
result of the breach of Agreement by Post Time Sports, Ltd.
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