Thursday July 23, 3:27 pm Eastern Time
Company Press Release
Winners Internet Network, Inc. Answers Frequently
Asked Questions Concerning Gaming Payout Software
ST. AUGUSTINE, Fla.--(BUSINESS WIRE)--July 23, 1998--David Skinner Jr., President of
Winners Internet Network, Inc. (OTC BB:WINR) answers frequently asked questions concerning
their proprietary Internet Gaming Pay-Out Software and the relationships that they have developed.
The following has been prepared in a question/answer format. The symbols related below give the
initials referenced herein for each company.
Cyberlink Monetary System -- CMS
Cyberlink Trust -- CLT
Global Gaming Link Systems, LTD. -- GGLS
Winners Internet Network, Inc. -- WINR, a Vendor of the Cyberlink Monetary System
Who is CMS?
CMS is a gateway for Worldwide Merchants and Vendors without industry limitations to enter the
Global Internet Market with the vital linkage of customers, products, services and licensed banking.
It is a data processing center. As a Member of the CLT, Vaduz, Liechtenstein, it has opened the
doors to a system that not only offers the most secure, confidential and safe licensed banking
transactions, but also provides all of these services sponsored by the largest financial institutions
throughout the world. For the Vendor or Merchant it expands the market worldwide overnight but
more importantly provides the total ability to have confidence in all Internet transactions and
immediate payment with both credit and debit card access. CMS expects to provide the foundation
for the Global Banking Community to utilize the fast growing Internet market by integrating CMS
with the software technology offered by WINR.
Who is CLT?
CLT is a Registered and Government Licensed Asset Management Trust in Vaduz, Liechtenstein.
Liechtenstein and Switzerland are two of the most secure Trust sites in the world. The Trust is
bonded, licensed and insured. CMT utilizes corresponding banks with worldwide links including the
LGT Bank in Liechtenstein www.lgt.li, the Landesbank also in Liechtenstein www.llb.li, which is
over 75% owned by the Principality of Liechtenstein and the balance held privately, and the
Commerze Bank in Frankfurt, Germany www.commerzbank.de all combined with assets in excess
of 300 Billion Dollars. Commerze Bank alone has over 900 branches with service throughout the
world. In addition, CMT has many other major banking correspondents covering the globe. Further
CLT came to WINR because of WINR'S software capability to be utilized by any type vendor.
The intent of CLT is to offer a Debit Card through CMS which provides the customer with security
and comfort to have a complete accounting of all transactions, access to ''Shopping Downtown'' all
over the world via the CMS web-site at www.shoppingdowntown.com, and most of all the access
to safe, secure bank cards to handle their transactions without worry. The Managing Director of
CMS has stated that the Global banking of the Cyberlink Trust will be the significant foundation for
secure international banking transactions with immediate worldwide currency conversions via the
Internet. All transactions from the customer to the merchant via banking will be the most secure,
confidential worldwide system available. It will be able to bridge the world in currencies with
recognition of the parity of the Eurodollar and all foreign currencies for Internet Commerce.
Who is GGLS?
GGLS with resident offices in Liechtenstein developed the initial prototype to provide initial
database for the Internet financial transactions. GGLS was able to secure the Technology that was
developed exclusively for GGLS by a leading software design company whom is Highly regarded in
the development of specialized banking and trust software. Winners secured exclusive use of this
technology and further developed the software from its prototype to its completed and functioning
system as is being offered today. It is now known as the Winners System. GGLS has subsequently
licensed the data processing to be handled by the CyberLink to complete the overall structure for
processing all of the financial transactions between the vendor; bank and the customer with secure,
licensed, insured and bonded asset trust management. It has allowed Winners to be able to present
its entire structure over all areas of the globe with the availability of the worldwide banking structure
offered by CLT.
Who is WINR?
WINR, www.winr.net, now a member of the CyberLink Trust, developed software system that
provides Internet secure and safe payouts for customers of Internet Casinos and SportsBooks
worldwide. It is expected to give the Internet Gaming Industry much needed credibility and
acceptance by providing safeguards to guarantee payments and ensure compliance with all legal
requirements. The system has the potential to become the industry standard for Internet gaming on
the worldwide web and provide explosive revenue growth for WINR. Further, the WINR system
could revolutionize offshore gaming by providing a uniform structure that will link to the International
banking community, ensure compliance with all existing laws, provide an audit mechanism for the
host governments, and guarantee the safety of Players' funds as a member of CLT.
WINR is a pioneer in developing the Global Gaming Payout System, which they feel, will
revolutionize both the Internet Casino and the Internal SportsBook method of payout. Once on
WINR'S System, a Player will be able to track a full accounting of wins and losses at each licensed
site. WINR intends to work closely with all Government Host Sites insuring adherence to all
International Gaming Laws and Regulations. Winners recognized the need for International
cooperation with banking and regulatory agencies and as a result was selected as a member of the
Cyberlink Trust in Vaduz, Liechtenstein giving it credibility worldwide for safe, secure and managed
transactions.
Additionally, the worldwide gaming industry is estimated at $500 billion annually. Legal offshore
betting is approximately $4 billion, while illegal bookmaking in the United States is estimated at $85
billion per year. There are currently over 180 Internet gaming sites in operation with an annual
volume of approximately $100 million, a relatively small part of the total gambling industry. It is
estimated that legal Internet gaming could reach $10 billion within 3 years.
What bank will CMS be using? (see number 2 above)
The corresponding bank network is worldwide with assets in excess of 300 Billion dollars with all
assets being managed by the CyberLink Trust. Many other worldwide banking institutions will be
utilized by the Cyberlink Trust to insure the safety and processing of all financial transactions in all
areas of the globe.
What is a Liechtenstein Trust?
Throughout the world, Liechtenstein is known as one of the most prestigious and safe banking hosts
sites in the world. They offer banking to companies throughout the globe including some of the
largest companies in the world. It is known as a confidential and safe center for all financial
transactions and is quickly becoming one of the largest growing banking centers. It offers the ability
for funds to be managed by licensed and government approved management trust services to insure
the safe and secure handling of assets including banking and trust services. The Cyberlink Trust is a
Registered Trust with the Government to provide the secure, confidential and management services
to its accepted members which include not only Winners, but also Cyberlink Monetary System and
other entities for management.
When will WINR have its system up and operational?
Our target date is set for late August 1998.
Is there a model of WINR'S system for testing enabling a Casino a ''test run'' prior to purchasing a
License?
The system should be able to be tested by July 30, 1998. WINR is finalizing the links between the
banking software and the Cyberlink Trust.
After a Casino is approved to become a Licensee of the WINR payout structure, what is the
process for the Casino to phase out its current method of payout while converting to the WINR'S
payout system?
WINR will work with each Casino's technical staff to program the links required for full integration.
WINR'S focus will be that of a timely and smooth transition for each Casino during the interfacing
process.
What services does WINR provide and what are the benefits of being a licensed casino vendor?
There are a full range of benefits as follows:
Winners offers to be the complete management and accounting center by providing the
licensed casino with the exclusive use of the CMS(r) debit banking card.
Winners will provide the ability for the player to have safe, secure and confidential banking
with the direct interface with the casino via Winners Internet.
The customer will be issued a CMS(r) BankCard that will be accepted in over 100 countries
in more than 300,000 ATM's throughout the world.
The system will currently accept Master Card, Eurocard, Visa, American Express, and
Diners Club for customer transfers in addition to other acceptable methods.
The system offers the ability to have instant currency conversions for the convenience of the
player and will be offered in numerous different languages with nearly all world currencies
available.
Winners also provides the added protection to the host government site that the system will
offer tracking to insure that all funds are handled and processed properly according to
existing laws and regulations.
Winners offers the credible system allowing the vendor to be accessed worldwide to
undeveloped markets and to insure that only legal markets are accepted for play.
Winners is not a casino and will never be competition, but will be a partner to insure the
player that their funds are fully protected by the strictest standards in International Law for
Banking Trusts.
Winners will be the sole member of the Registered Cyberlink Trust(r) in the Gaming Industry
insuring that no other Internet Casino site will ever be able to have use of this exclusive
system.
The rigorous standards for acceptance into the Winners network will be available to a limited
number of Internet Casinos. The Cyberlink Trust(r) will allow only a limited number to be
licensed.
It is not expected at the present that reserves will be required to process bank card
transactions for the Casino with the CMS System for Processing.
The approved and accepted licensee may be able to utilize the CyberLink Trust to open a
corresponding account in order to receive the benefits of secure and confidential banking.
How many Casino Licenses does WINR project to issue?
CLT will most likely not accept all applications and thereby limit the number of Casinos that can be
licensed through WINR. WINR will make recommendations to CLT once the appropriate
documentation has been received for the processing of a Casino License; however, the acceptance
of each License remains with CLT.
Will WINR allow gambling in illegal jurisdictions?
There are currently states within the continental U.S. that will not allow Internet Gaming in addition
to certain foreign countries. Winners will not provide any business to those areas. Winners are
monitoring developments in legislation throughout the world and will adhere to all legislative
decisions or regulations in this regard. It is the intention of Winners to partner with host government
sites to provide acceptance of the winners system as a uniform structure that has the necessary
safeguards that will be required. WINR was not formulated as a global provider not limiting itself to
only the U.S. market. WINR'S focus, from its onset, has been directed to the European and
Southeast Asian marketplace.
Will WINR allow Casinos to use their system to also accept payments in illegal jurisdictions?
No. The WINR system has been developed and structured for legality. There will be no illegal play
allowed within the WINR payout system. WINR will uphold all gaming regulatory rules and
regulations where and intends to work closely with all Government Host Sites insuring adherence to
all International Gaming Laws and Regulations.
Can the WINR payout system be duplicated?
It is impossible to say that any system cannot be duplicated in some manner. However, Winr plans
to continue to develop its technical and service abilities, but is also confident that its recognition by
the CLT and the proprietary software will allow it to maintain a very good share of the market. The
acceptance as a member of the Cyberlink Trust is proprietary to only Winners in the Gaming
Market, which will give it many advantages over others attempting to enter the market. Winr does
feel that additional support in the business will be welcomed because of what it projects is a very
fast growing market. Extensive time, technology, knowledge, banking relations and acceptance have
all played a vital part in its unfolding.
Who are the principals involved directly or indirectly with the management of the Registered
Cyberlink Trust?
The Managing Director of Cyberlink Monetary System (CMS) is Dr. Reinhard Proksch. Dr.
Proksch is a partner with Consul Dr. HC Werner Walser, Legal Agent & Trustee in Liechtenstein
who began in 1954. Dr. Proksch holds various national and international law degrees, A Fulbright
Scholar, and media law and licensing, Dr. Phil ''sub auspiciis praesidentis'' in Communications.
Their firm is recognized throughout the world as one of the leading licensed banking trustees
representing some of the most well known international financial and investment corporations
throughout the world providing licensed banking and trustee management. Dr. Proksch is also a
Director of GGLS and he owns CLT.
Dr. Walser is chairman of various national and international professional associations, and also
chairs the European Economic Institute (EWI) Liechtenstein, founded in 1969, Fordererkreis Prof.
H. Oberth and Wernherr von Braun, and Academia Mexicana de Derecho International
Mexico/Liechtenstein. He is a member of the Board of the Association of the Diplomatic Corps in
Liechtenstein, and a member and co-founder of the European Confederation of Associations of
Enterprises/Brussels. He has earned the highest honors and decorations for his work in Central
Africa.
Trustee, Monika Varga, Executive Director, joined the firm of Dr. Walser more than 20 years ago
and has long-time experience as corporate director and professional trustee. She is in charge of
corporate matters (Corporate Secretary Division) and head administrator of the firm and of Burotel
International AG. As such she is also in charge of all special events such as educational seminars
and social events hosted by the firm.
MMAG Dr IUR, Birgit Proksch, Executive Director (P&A) is a lawyer (Mag.iur. Dr.jur.) And also
has a degree in German and English literature and philosophy (Mag. phil.). She specializes in
international licensing matters, corporate law and finance. Mrs. Proksch is in charge of the firm's
onshore operations and promotion activities. She is also in charge of the firm's publishing division.
FCA JD, Joseph N. Kanaan, of Counsel, is a fellow member of the Institute of Chartered
Accountants in England and Wales and a member of the Faculty of Taxation. He has studied
American Law, and has experience in the application of the SEC regulation in the U.S. Formerly a
partner in the international accounting firm Peat Marwick Mitchell, Mr. Kanaan gained wide
experience in the Middle East, the United States, Europe and Africa, specializing in trusts, banking,
investments and finance. In the Middle East clients included central banks, oil companies and
airlines. He is a co-founder of Key Securities and Unit Trust Ltd., which has earned numerous
awards for its top investment performances.
Who is the management of WINR?
See outline below --
David Skinner, Jr., Chairman, President, Treasurer, also manages Skinner, Varney & Assocs. a tax
and business consulting firm. Since 1995, Mr. Skinner has also been affiliated with the Grand
Holiday Casino of Aruba and Curacao, where he set up and operated a payout structure for two
Internet SportsBooks. He has been responsible for financial transactions between foreign banks and
customers worldwide. From 1995 to 1997 he was instrumental in the daily operations of Enterprise
Distributors, Inc., a maker of video gaming devices. Since 1996, Mr. Skinner has also served as
President of the publicly traded Caribbean Palace, Inc. d.b.a. Club Casablanca of Myrtle Beach,
SC.
Sandra Varney, Administration Vice President, Secretary. As with Mr. Skinner, she too is affiliated
with Skinner, Varney & Associates. She has numerous years in the tax representation/preparation
industry and affiliation with an International & Regional Master Franchise Program. She has had
extensive experience in public relations, has overseen day-to-day operations of businesses and has
maintained the books & records of many high level corporations. She is an Enrolled Agent
possessing a license to practice before the Internal Revenue Service for the representation of both
corporations and individuals involving tax matters.
Charles Scott, Technical Vice President. Mr. Scott graduated from Florida State University of
Tallahassee, Florida with a Bachelors of Science in Computer Information Systems in 1988. Since
1995 he has been and is currently the Network Administrator for Skinner, Varney & Associates,
Inc. of St. Augustine, FL as well as being a consultant for offshore companies in both networking
and the development of Internet products. Mr. Scott has programmed in Microsoft Access and
Visual Basic for restaurant and gaming accounting systems, and his focus has been on cutting edge
technologies related to the Internet.
Also, of note, is that Dr. David C. Skinner, Sr., the President's father, has served as a consultant to
WINR. Dr. Skinner was once the Assistant Chief of the IRS Criminal Division in Jacksonville,
Florida. From 1964 through 1978 he was involved with the Criminal Investigation Division of the
Treasury specifically related to the Tax Division Department of Justice regarding organized crime
strike force. In addition, he worked with reference to systems technology involving financial
transactions and creation of databases with an Information Gathering Retrieval Unit, which was
established with a U.S. Government Strike Force. Subsequent, he went into private practice and
lectured at law schools wherein the book he authored entitled ''Defeating The IRS'' was used as a
textbook. Further, he was involved in various contacts and business dealings in the European
financial theatre both working with the government and as a private consultant.
Does WINR have exclusivity for Internet Gaming through CLT?
Yes. WINR has entered a formal agreement with the Registered Cyberlink Trust, Vaduz, and
Liechtenstein, to provide the formal Trustee Management Services to WINR. Dr. Proksch as the
Managing Director of Cyberlink Monetary Systems feels that providing the trustee services for the
global banking of WINR will be the significant foundation for financially secure international banking
transactions on the Internet backed with immediate worldwide currency exchange. CLT also plans
on sponsoring other Internet businesses with the availability of secure encrypted cyberbanking
allowing all transactions from the customer to the merchant on the Internet the security of trust
services through the most secure worldwide system available. However, CLT has agreed to
exclusively represent only Winr in relationship to Internet Gaming.
CMS recognized WINR as having the leading technology to provide safe, secure and confidential
transactions for the host government sites, the merchant and the customer. CMS has agreed to
exclusively license WINR as the sole user of the Cyberlink Monetary System in the Global World
of Internet Gaming. ''The system is the safest and most secure transaction system we have seen.
We expect to provide the foundation for the Global Banking Community to utilize the fast growing
Internet market by integrating CMS with the software technology offered by WINR. The credibility
of WINR is greatly enhanced in the Legal Internet Gaming Industry by not being a Casino or having
self-interest in that area. WINR offers the only credible system to give the Industry the safeguards
and protection from such practices. We want to insure the Internet customer that their funds are fully
protected under the licensed banking trustee management.''
WINR is a pioneer in developing a Global Gaming Payout System, which they feel, will
revolutionize both the Internet Casino and the International SportsBook method of payout. Once on
WINR's System, a Player will be able to track a full accounting of wins and losses at each licensed
site. WINR intends to work closely with all Government Host Sites insuring adherence to all
International Gaming Laws and Regulations.
Can a Casino accept other forms of deposits other than though WINR?
Once a Casino becomes licensed with WINR, the Casino must use WINR for all transactions.
WINR must be able to maintain control of all transactions in order to track all data and monitor all
transactions to ensure all processing adheres to regulatory standards. WINR needs to maintain this
control for complete efficiency of operations. If WINR would allow outside transactions, it would
defeat its regulatory factors and failsafe measures, which have been integrated within its structure.
The License is an entire package which not only includes the processing of all incoming and outgoing
transmissions but also includes an entire account of the succession of each entry which gives both
the Casino and the Player a clear picture at all times of winnings and losses. This coupled with the
marketing provided by WINR and its connections to the CyberLink Trust could enhance the client
base of each Casino.
What are the benefits to a Casino and a Player to use the WINR payout structure?
The benefits to the Player and the Internet Gaming Community are:
CREDIBILITY
To the Internet Gaming Industry by WINR providing much needed acceptance and
safeguards to insure secure payments worldwide.
To Host Government Internet sites to insure compliance with all World Government Laws
and Regulations regarding Internet Gaming.
To Internet Players by providing the only accepted method of payment to customers
worldwide.
To Internet Casinos by issuing the Internet Casino/ SportsBook the ''The Winners Seal of
Assurance.''
INTEGRITY
To Casino Accountability by providing a separate accounting for the Player so they can have
immediate access to their account information and insure that the right records are being
maintained by the Casino.
Industry Standards that insure all systems of payout are operated the same, worldwide,
insuring both confidentiality and consistency.
Player Account Access giving the player total access to his account information for all
Casinos that have been played using the WINR System.
Player Pin Number will be issued to follow the player Worldwide at ALL Internet Gaming
Sites.
Security Code Update will be utilized granting the Player the most updated Security System
to insure confidentiality.
Win/Loss Tracking for all play, allowing the Player to separate records for all Casinos
displaying wins and losses, along with time and dates of play.
UNIFORMITY
The Worldwide Payout System insures the player the same method of payout available
Worldwide for all Internet Casinos regardless of the host site location.
Daily Currency Conversions are available, so the Player from any area of the World can be
aware of the dollar or other currency rates for play and payment.
Standardization of Dataflow so that the Player will be aware of what to expect from each
Casino after it has been given the ''Winners Seal of Assurance.''
Worldwide Player Ledger Profile enabling the Player to utilize the same system to view his
play, his account charges and methods of secure payment, whether by Debit Card, check or
other available payouts.
LEGALITY
Insuring Casino and Player compliance with Internet Gaming Laws throughout the World.
Setting the Standard that NO Payouts will be made in ANY Illegal Internet Gaming
Jurisdiction.
Monitoring of all Gaming Transactions to insure that Money Laundering Transactions will not
be permitted.
Worldwide Acceptance of the System to be the cutting edge of proprietary technology,
allowing the Internet Gaming Industry to attain credibility with all Governments.
Contact:
Columbia Financial Group, Inc.
Jim Price, 888/301-6271 |
