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The Company Tropika International Limited is an emerging company at the forefront of the e-commerce revolution. Tropika's market advantage is its ability to implement new and innovative e-commerce solutions.Indeed, by consistently going where the transactions are, Tropika has developed a unique understanding of the architecture of the Internet, as well as e-commerce and Internet gaming technologies that can be modularized to meet the operational requirements of virtually any online commercial service. Because it possesses this experience and knowledge, Tropika is positioned to benefit from the exponential growth in e-commerce. The company's long-term objectives include the continued profitability of its gaming operations, in conjunction with a shift in its primary business to more diverse e-commerce initiatives. These include a full range of online banking, brokerage, and credit card services. By moving quickly, management has positioned Tropika as a market leader in strategic e-commerce solutions. The Industry (Backgrounder) Both the gaming and e-commerce sectors are enjoying a prolonged expansion that shows no sign of easing. The best estimates indicate that the online gaming market, for example, currently stands at less than US$1 billion, but industry projections see the market will growing to US$10 billion by 2002. E-commerce is currently enjoying similar meteoric levels of growth, and the OECD recently estimated that it would be a US$1 trillion by 2005. Moreover, as other companies in gaming and e-commerce have shown, these sectors generate strong cash flow, continuous revenues, and ultimately deliver value to both shareholders and the bottom line. Now, as cyberspace emerges as a preferred medium for both entertainment and consumer spending, companies like Tropika -- with an established online presence, proven technology, and experienced management -- stand to reap significant rewards. The Enterprise The company's activities are founded on the belief that traditional commercial, industrial, and consumer patterns will be turned upside down with the realization of the Internet's full business potential. Capitalizing on a once-in-a-lifetime opportunity, Tropika is able to blaze a trail in e-commerce, leveraging its management and industry know-how into a profitable online arsenal. The company's composite offering is quickly evolving into an array of innovative services capable of creating market advantage as either stand-alone elements or as a seamless package providing end-to-end service. As a key element of its service portfolio, Tropika provides continuous accounting and transactional support to its clients through its customer service and technical support centre in Cape Town, South Africa. This centre is unique to the industry, and offers an unprecedented level of service. Tropika can offer pricing advantages as well. At US$80,000 plus royalties, Tropika's gaming sites are highly cost-competitive. As a result, orders are flourishing. Over the next six months, Tropika expects to deliver nine more operational Internet gaming sites to its clients. The opening of these new sites promises an exponential increase in revenues and cash flow for the company, while offering the opportunity to further market and refine Tropika's e-commerce platform. Tropika currently operates 11 Casino sites (African Fairplay, Jetset, Magic Carpet, Astrobet, Atlantis Star, Aztec Gold, Flying Dragon, Iceberg, Orient-Express, Bulls ‘n Bears and Old Glory casinos) and one bingo site (BingoTops). These can be previewed at Tropika's website under the Entertainment page. Tropika recently acquired a 51 percent interest in RC Securities Inc. (RCS), an offshore brokerage based in Antigua, WI. Tropika's Internet and e-commerce expertise will permit RCS to present a fully interactive website that enables offshore securities trading and brokerage services, as well as the online incorporation of international businesses. | ||||||||||||||
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