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Microcap & Penny Stocks : Advance Gaming Technologies Inc. (AGTI) -- Ignore unavailable to you. Want to Upgrade?

To: Trooper who wrote (1672)	3/25/1998 1:58:00 PM
From: PennyLover	Read Replies (1) \| Respond to of 4539

Advanced Gaming Technology Inc. and Sega Gaming Technology Inc. Sign Letter of Understanding PR Newswire - March 25, 1998 09:35 AGTI %CPR V%PRN P%PRN -------------------------------------------------------------------------------- VANCOUVER, Canada, March 25 /PRNewswire/ -- Advanced Gaming Technology, Inc. (OTC Bulletin Board: AGTI), and SEGA Gaming Technology, Inc. (SGT) Las Vegas, Nevada today announced the signing of a Letter of Understanding whereby it was agreed: -- AGT and SGT shall, by way of incorporation, form a new company, to jointly develop and market innovative software products to the gaming industry. The first such product will be Sonic Bingo; -- Sonic Bingo, as it has been designated during the design and developmental stage thus far, is a fast-paced, progressive linked speed bingo game for use in Class II bingo halls throughout North America; -- The new company shall license from Sega Gaming Technology, Inc. its rights to use of the "SEGA" brand name, and it shall license from Advanced Gaming Technology, Inc. its MAX Bingo System software, Prisms patented game technology, and rights to use the "Sonic Bingo" trademark; -- Start-up capital has been contributed by both companies which will facilitate incorporation and product development costs for Sonic Bingo. Hereinafter, capital expenditures and revenues shall be shared on a 50/50 basis. AGT and SGT, within terms of an earlier preliminary agreement (May 1996), have already expended co-operative funds towards development of ten (10) proto-types for Sonic Bingo. AGT and SGT have employed Mr. James Hammer, previously Vice President Sales and Marketing for AGT, as Product Manager for Sonic Bingo. Mr. Hammer brings extensive years of experience in Class II and Class III gaming as a corporate executive. The 1998 Business Plan for Sonic Bingo contemplates finalization of the design and development of Sonic Bingo, followed by a pilot programme with approximately one hundred (100) units linked between multiple sites in the U.S. Sonic Bingo is targeted to be launched for commercial use in late 1998, with the prospective market including Class II bingo halls, and in Class III venues throughout North America. Sega Gaming Technology, Inc. with approval by its Board of Directors, has authorized a Purchase Programme of up to 5 million common shares (approximately 5% of AGT's issued and outstanding shares) in open market transactions as well as purchasing a portion by way of private placement with AGT. Doug Sanderson, CEO, Sega Gaming Technology, Inc., states, "...Sonic Bingo is a game that we believe has the potential to bring a new level of play to bingo halls on a world wide basis...we have been working on this joint venture for a year...Sega looks forward to a long-term relationship with AGT." Tom Nieman, Chief Executive Officer of AGT comments, "...Sega Gaming provides an important ingredient to development and launch of Sonic Bingo...We believe SGT's international marketing skills and strategic business relationships are a perfect fit for AGT's platform of software technology. This Agreement is consistent with AGT's new business strategy whereby the Company is exploiting its technology in joint ventures as well as licensing and distribution agreements." CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS. Certain matters contained herein regarding matters that are not historical facts are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, many of which cannot be predicted with accuracy and some of which may not even be anticipated, future events and actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, operating losses in recent periods; future capital needs and uncertainty of additional financing; government regulation; risk of low priced or penny stocks; trademark and patent protection; competition; and technological innovation. The Company's operations are subject to numerous risks associated with establishing any new business, including unforeseen expenses, delays and complications. Advanced Gaming Technology, Inc. creates, designs, markets patented and proprietary gaming systems and software including technologically advanced electronic bingo systems. The Company is a major supplier of electronic gaming systems, offering increased play potential and revenue to gaming operators. Its stock trades under the symbol AGTI on the NASD Electronic Bulletin Board.

To: Trooper who wrote (1672)	3/25/1998 2:06:00 PM
From: Benchman	Respond to of 4539

I got back on. Judging from what I heard nothing is going to happen in the short-term. Lately, for me that's all I am trying to do in pennies. I got burned last year by sticking with some BB companies for too long. I sold out today, I made $16 after commissions :-) Better than losing. Basically, they mentioned a financing deal with a major bank is coming soon, but would give no details. Supposedly, they have been talking about this for a couple of months, so personally I wasn't sure if it would happen to soon. They would not rule out more share dilution. They were asked twice, about it, and never answered it. They would not rule out a 4 to 1 reverse split, that was "shareholder" approved last year. They did say they would most likely not do one. They would not say how they have financed operations over the last few months, and did not rule out that they were selling stock. The positives were that they are moving to Las Vegas. They seem to have a good strategy in place to make money, and Tom said they would be profitable in the fourth quarter (IMO, that may be when this really moves---to long away for me). The SEGA 5 million share buy back is a positive and negative for me. They would not give any details about it, and they said the the buy back was "UP TO" 5 million, so there is no gaurantee that all 5 million would be bought. Kind of like when you get those credit card offers for UP TO $100,000. Looks to me that they have a positive future, just too much in the future for me. Just my opinion! Please no flames. I am just answering a post, and since I sold, I will be leaving the thread. Good luck! Rob.