To: Bob Davis who wrote (5603 ) 8/1/1998 2:39:00 PM From: Gennaro Respond to of 8879
Bob, first of all, I appreciate you bringing this article to the attention of the board, but after taking a breather and reading it carefully, I think the whole thing is very understandable. The govt of Dominica decided to set up a virtual casino because of the huge revenue such activities can generate. They need software experts this is clear, so they contact Global Games Inc. Global Games quickly puts together some documents (A Preliminary agreement) and the parties involved sign. Then someone questions J. Timothy, asking whether an agreement has been reached with Global Games. He immediately denies this because everything is still at the preliminary stages. He does not refute, however, having a proposal, and he is currently looking it over. A couple of weeks pass, and J. Timothy decides its a good deal and signs a contract for Island Sports and Gaming to take advantage of the opening of the NFL season. Now if you can show me a quote from Timothy (after the 30th) denying the signing of this agreement, then we might have a problem, but until then I wouldn't necessarily worry. It was unfortunate that they printed the most up to date July 30th press release, after quoting the July 7th release. I think this is where people can be confused. It looks like Timothy is denying the later release, when in fact, he is actually denying that a formal agreement has been reached on July 7th. It was only preliminary, so therefore not valid. Sorry for the long post, but I think we must be very careful when dealing with one's investments and read things very carefully. Thanks again, for bringing this to our attention. G