WINR FACTS Part 2 : A MUST READ for new investors
biz.yahoo.com
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 |
