LASVE, yup that filing... Just a quick heads-up. Read it entirely though, it's not all flowers and sun. Here's the post anyways, FWIW.
freeedgar.com
The
Attorneys for the Company are reviewing the final closing documents regarding
the Lottery in the Russian Federation. Signing of the Agreement and completion
of obligations is expected later this week.
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On January 24, 2001, the Company also announced in a second news release
that the acquisition for 100% of Rugby National Corp, the Operators, and the
Union of Journalists, jointly known as Press - Lotto in the Russian Federation,
currently holding the sole online computer Lottery License had been concluded
and executed. The division of revenues are as follows: Rugby National Corp.
(LASV Enterprises, Inc.) 17.5%, Union of Journalists 17.5%, Prize Allocation
50%, Expense Allocation 15%. With the conclusion of this Agreement, the
commencement in installation of real computer on line lottery with a real time
paramutual (prize structure) is scheduled forthwith. Press - Lotto has already
procured select locations for the first phase of 500 on line installations.
Based on the current projections it is estimated 1st year gross revenues of $150
million. Second year gross revenues are projected at $350 million. Fifth year
gross revenues are projected at $3 billion to $4 billion, conservatively.
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On May 2, 2001, the Company announced the commencement of negotiations with one
of the largest lottery operators in the world to assist LASV in the initial set
up and overall operations of the lucrative National Lottery in the Russian
Federation. Press-Loto, a Russian company jointly owned by Rugby National Corp.
(100% owned by LASV Enterprises, Inc.) and the Union of Journalists, each
holding 50% of the Press-Loto organization, hold the sole National Lottery
License.
Not a reco to buy or sell shares of LASVE.
Best of luck,
-CyberJas |
