Still $5.00 and under but not for long:
When you think about what a name change did for XTON when it became ELOT, and what new Internet territory did for FLBK, it is not hard to imagine what DWNS could do. Combine that with near future announcements of new contracts and I believe that DWNS will not only shoot up, but that it will stay up and continue growing. The following announcement was published this morning:
Downstream Announces the Acquisition of Q-Seven Systems, Inc.
PR Newswire, Tuesday, May 25, 1999 at 08:49
SALT LAKE CITY, May 25 /PRNewswire/ -- Downstream Incorporated (BB: DWNS) is pleased to announce the acquisition of Q-Seven Systems, Inc.
The acquisition makes Downstream, via its wholly owned subsidiary, Q-Seven Systems, Inc., the exclusive sales and licensing agent for the Q-Seven User Management System. In the coming weeks, Downstream plans to change its name to Q-Seven Systems, Inc. and to apply for a new trading symbol. The Company anticipates its shares will be trading on the Frankfurt Exchange in Germany in the coming months, as well as the OTC Bulletin Board in the US. It also plans to commence an extensive international public relations campaign.
The management of Q-Seven believes its new User Management Software is one of the best software systems available for online gambling, adult entertainment, other forms of e-commerce and secure online billing. Management further believes its state of the art software will attract many new licensees in the coming year, and that it will be able to announce several new licensees in the near future.
According to Datamonitor (London) online gambling revenues will reach a staggering $10 billion by the year 2002. Revenues for the average online casino are currently $4-5 million annually. Online gambling profits dwarf those of all other online services.
Q-Seven faces competition in the online gaming market from companies such as Anchor Gaming Inc.; Trans World Gaming Group; Argosy Gaming Co.; International Game Technology Inc.; Starnet Communications; Cybergames Inc.; Global Games Corp.; Cryptologic Inc.; GLC Limited; and Playboy Enterprises in the adult market.
The management of Downstream cautions readers not to place undue reliance on "forward-looking statements," such as "plans to," "is expected to," etc. which speak only as of the date made, when used in this press release, in filings with the SEC, in other public or stockholder communications, or in oral statements made with the approval of an authorized executive officer of the Company. Such statements are based on certain assumptions and expectations which may or may not actually occur and which involve various risks and uncertainties.
SOURCE Downstream Incorporated
· 0- 05/25/99
/CONTACT: Philipp Kriependorf of Q-Seven Systems, Inc.,
011-49-2173-330-3630/
Companies or Securities discussed in this article:
Symbol Name BB:DWNS Downstream Inc
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