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IN-GAME BETTING COMPANY IN TROUBLE
Bad news from Global Interactive Gaming Limited parent group Interactive Systems Worldwide Inc (ISWI), this week is that the company cannot file its quarterly report for the period ended 30 June 2008. The company cites a lack of financial resources and the anticipated expenses associated with the preparation, independent auditor review and filing of the report as the cause.
GIG's SportXction in-game betting software is used by several of the big sports betting names in UK gambling, yet the parent company is clearly struggling to make ends meet in a tough market, and will soon cease trading on the OTCBB, although it will be quoted on the Pink Sheets.
If and when a quarterly report becomes possible, company statements indicate that it should show that Interactive Systems Worldwide believes that it achieved an increase in revenues and a decrease in net operating loss for the three months ended 30 June 2008 when compared to the same period in 2007.
If the company is not able to find new financing or enter into a strategic transaction, it may have to cease operations. However if its financial condition improves sufficiently, the company intends to file Form 10-QSB and regain compliance for quotation on the OTCBB, CEO Bernard Albanese has indicated.
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3 New Betsoft Slots -
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The Railbird Launched By Americas Card Room #acra -
Watching your friends conquer the tables just got a whole lot easier. Americas Card Room recently launched its industry-first Player Observer Tool dubbed “The Railbird”, a new feature that allows players seated at Americas Card Room tables to instantly share a live stream of their action with friends.
Huge Caribbean Hold’Em hit at Bovada Casino -
A progressive jackpot strikes again! This time it was at Bovada Casino, where a Texas player landed the top hand playing Caribbean Hold’Em over the weekend. A grand total of $119,348 was collected from the poker-inspired table game.
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