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Microcap & Penny Stocks : Advance Gaming Technologies Inc. (AGTI)
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To: jmhollen who wrote (3916)11/10/1998 11:20:00 AM
From: ISOMAN  Read Replies (1) of 4539
 
Jens also found this. A good find.



HI Isoman,
AGTI - information i fell over looking at another gaming company FETG.
Cut from FTEG's 1. 10 filing:
By a letter agreement dated March 30, 1998, AGT agreed to purchase back the
Company's interest in the United Kingdom Bingo Project and the SEGA Sonic Bingo
Project for $990,000. AGT had agreed to issue a promissory Note to the Company
for the project purchase amount and collaterize the Note with the two projects.
AGT has failed to issue the agreed upon promissory Note and the related
security. The Company has issued a writ against AGT and is in the process of
trying to obtain a judgment against the Company. AGT has filed a statement of
defense denying most of the claims and declaring the agreement void.
Additionally management of the Company has been advised that AGT does not
currently have the resources to repay the Company at this time and as a result a
valuation reserve has been recorded against the investment.

SEC link to that filing:
sec.gov.
Kr
Jens
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