This news may be a couple of days old but I am posting it because I feel it is very important to TTLN shareholders.
Court Rules in Favor of Total Entertainment, Inc.; Shareholder Update
MONTREAL, Oct 4, 1999 (BUSINESS WIRE) -- Total Entertainment Inc.,
(NASD OTC BB:TTLN) and its wholly-owned subsidiary Intercapital Global
Fund Ltd. are pleased to announce that the Superior Court of Montreal,
Province of Quebec, dismissed Interactive Gaming Communication
Corporation's, (NASD OTC BB:SBET) claim that Total Entertainment Inc.,
and its wholly-owned subsidiaries owed unpaid royalties to SBET under a
previous licensing agreement.
Total Entertainment Inc., paid its royalties and licensing fees in
advance to SBET, for use of SBET's gaming software. Total Entertainment
Inc., terminated the agreement and renewal options with SBET early, due
to the malfunctioning of SBET software and lack of technical support,
with proper notice and in compliance with the licensing agreement.
Sandy Masselli, Chairman and CEO of TTLN stated, "I am extremely happy
with the court's decision. For the past five months, SBET has been
responsible for issuing false and misleading press releases and
spreading misinformation to our shareholders and the investment
community. We have directed our attorneys to pursue all appropriate
legal action against SBET and its principals, including continuing our
existing claim for damages against SBET and its principals. The press
releases and statements SBET made about our company are fiction."
Masselli added "Since we terminated our relationship with SBET we now
have developed three new additional online properties and will soon
launch our new portal site www.go2total.com. Our company decided that
it was in the best long term interest of its shareholders and employees
to become a fully reporting issuer. Our Audit by Grant Thornton, LLC
and the SEC filing Form 10SB will be released and filed within the next
few weeks."
TTLN's online gaming sites can be found at www.theonlinecasino.com,
www.bingoonthenet.com, www.slotsvegas.com, its Asian sites
www.dragongaming.com, www.theluckydragoncasino.com, and
www.dragonbet.com.
The statements in this news release may contain forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934, and are
subject to the safe harbor provisions of the Private Litigation Reform
Act of 1995.
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX.
CONTACT: Total Entertainment Inc.
Lewis Taylor (Investor Relations)
310/575-9505
email: investors@totalentertainmentinc.com
or
Total Entertainment Canada, Ltd.
Sandy J. Masselli, Jr. or Mitchell Brown
514/842-6999
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