You have to read the entire PR. This gaming site is just part of what they are putting together. There is more to come.
First American Launches New Divisions for Future Success Casino Website with Global Interactive Software Designed by Starnet International (SNMM)
VANCOUVER, British Columbia, May 20 /PRNewswire/ -- First American Scientific Corp., (OTC Bulletin Board: FASC - news) previously announced in its news release on May 11th, 1999 the expansion of new management and new Board of Directors.
Mr. Jack Lovelock and Mr. Bob Dinning have resigned from the Board of First American, and Mr. Gary Burnie will be the new President and C.E.O. The new Directors will evaluate the technology, existing licensing agreements, and all outstanding debts owing. Management will implement a new business plan with the vendor and raise the capital necessary to develop a commercially viable processes for the rubber, sludge and other applications for the purpose of selling this technology to all interested parties. Mr. Lovelock and Mr. Dinning have agreed to assist the new management team in fulfilling its plans.
Management will implement a new subsidiary, where the Technology for the Kinetic Disintegration System will be a stand alone business, with the expressed purpose of marketing the technology within the First American Scientific network. Other subsidiaries will be implemented to advance other areas of interest to expand the business of the company.
Management is structuring a new division through a wholly owned subsidiary, to provide the company with a gaming system including casino games, a sportsbook with real time odds feed from Las Vegas and simulcast horse racing. The customers will be able to place wagers via a secure online financial transaction system. This software is Licensed through Global Interactive and the software through Starnet International (OTC Bulletin Board: SNMM - news).
The Company is currently in negotiations with several acquisition candidates and investment opportunities, which will be announced upon completion. Management is excited about its new place, developments are on the way to reach new goals which will give this company a rapid growth rate. A corporate structure will be presented to the shareholders at the Annual General Meeting.
Certain information and statements included in this news release constitute ''forward-looking'' statements within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements.
SOURCE: First American Scientific Corporation
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