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Gold/Mining/Energy : Software Gaming Corp. SGMS/CDN-OTC

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To: NICK who wrote (619)	3/20/1998 4:26:00 PM
From: Mephistopheles	Read Replies (1) of 1968

Inter.Tain.Net is the Barbados Sub of Cryptologic where the Internet Casino Software are licensed from. This is a normal setup for Canadians high tech firm that do not make a living selling to Canadians. All foreign licensing is done via the Barbados sub. Why Barbados, well, Barbados as a VERY STRONG and SOLID tax treaty with Canada, so, nothing can be hidden to Revenue Canada. Revenue Canada will let most of Cryp's revenue be tax at the very LOW Barbados tax rate, and let the Barbados sub finance most of the headquarter operations, like R&D, where in Canada, about 40% is paid back by Revenue Canada (and Quebec if you are in the province of Quebec). Inter.Tain.Net is owned 100% by Cryptologic. Also, InterCasino (http://www.intercasino.com) is own 100% by Inter.Tain.Net but is not based in Barbados, since it is not the right place for a Casino and a gambling license. Hope this help. Mephistopheles.

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