UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): October 29, 2003
LEGALPLAY ENTERTAINMENT INC. |
(Exact name of registrant as specified in its charter) |
Florida | 0-29219 | 98-0199508 | ||
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (IRS Employer Identification No.) |
Suite 630, 1188 W. Georgia Street | V6E 4A2 | |
(Address of principal executive offices) | (Zip Code) |
Issuer’s telephone number | (604) 689-5998 |
(Former name, former address and former fiscal year, if changed since last report) | (Zip Code) |
Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes | X | No |
Item 1. CHANGES IN CONTROL OF REGISTRANT
No events to report.
Item 2. ACQUISITION OR DISPOSITION OF ASSETS
LegalPlay Entertainment Inc. (OTCBB:LPLE) announced today it has acquired the source code, software application, databases and all other assets in relation to a system of horse handicapping, result prediction and race data management from Richmedia Technology Inc. The Company intends to market the software on a subscription basis from its horse racing portal online atwww.DailyHorse.com. In consideration for the acquired assets, the Company paid Richmedia Technology US$20,000 in total and is the sole owner of the proprietary technology and will not be required to pay any ongoing royalties to any parties.
Attached as Exhibit 99.1 to this filing is a copy of LegalPlay Entertainment Inc press release of October 29, 2003 announcing the acquisition of horse racing software and plan to operate horse betting portal at www.dailyhorse.com
Item 3. BANKRUPTCY OR RECEIVERSHIP
No events to report.
Item 4. CHANGES IN REGISTRANTS CERTIFYING ACCOUNTANT
No events to report.
Item 5. OTHER EVENTS
No events to report.
Item 6. RESIGNATION OF REGISTRANTS DIRECTOR
No events to report.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
No events to report.
Item 8. CHANGE IN FISCAL YEAR
No events to report.
Item 9. Regulation FD disclosure.
No events to report.
Item 10. Amendments to Registrant’s Code of Ethics, or Waiver of Provision of the Code of Ethics
No events to report.
Item 11. Temporary Suspension of Trading Under Registrant’s Employee Benefit Plans
No events to report.
Item 12. Results of Operations and Financial Condition.
No events to report.
Exhibits:
1.1
News Release issued by the Company on October 29, 2003
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
LEGALPLAY ENTERTAINMENT, INC.
/s/ Mark Glusing |
Mark Glusing, President |
October 29, 2003 |
Date |
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
LEGALPLAY ENTERTAINMENT INC. ACQUIRES HORSE RACING SOFTWARE, PLANS TO OPERATE HORSE BETTING PORTAL AT WWW.DAILYHORSE.COM.
Vancouver, Canada, October 29, 2003 – LegalPlay Entertainment Inc. (OTCBB: LPLE) announced today it has acquired the source code, software application, databases and all other assets in relation to a system of horse handicapping, result prediction and race data management from Richmedia Technology Inc. The Company intends to market the software on a subscription basis from its horse racing portal online at www.DailyHorse.com.
In consideration for the acquired assets, the Company paid Richmedia Technology US$20,000 in total. No further consideration was paid for the assets, therefore LegalPlay Entertainment Inc. is the sole owner of the proprietary technology and will not be required to pay any ongoing royalties to any parties.
DailyHorse.com will operate as a horse racing portal in addition to providing a subscription based service for managing horse race information, predicting results based on historical performance and current conditions using a proprietary algorithm. Horse wagering is annually a multi billion dollar business worldwide providing consumers with legal gambling opportunities at both on track and off track betting locations.
Revenues from the DailyHorse.com system will be in the form of ongoing subscriptions for the use of the system, licensing for geographic regions to qualified companies, advertising and special events promotions. The Company is of the opinion that a horse racing portal dedicated to covering events at renowned tracks worldwide will provide synergistic benefit to its existing operations in legal online gaming.
About LegalPlay Entertainment Inc.
LegalPlay Entertainment Inc., through its wholly owned subsidiary, SkillPoker.com Inc. is the operator ofwww.SkillPoker.com, North America’s only legal online poker site. SkillPoker.com Inc. owns the patent pending SkillPoker technology which enables the operation of its own skill based online poker card rooms, with a focus on marketing to poker players in the United States, Canada and worldwide. SkillPoker.com Inc.’s poker card room is the only legal online system of gaming with all operations including the game servers located on North American soil.
LegalPlay Entertainment Inc. will seek additional legal gaming opportunities in the future in an effort to capitalize on the growth of the online gaming industry.
On behalf of the Board of Directors,
Mr. Mark Glusing
President
This press release may contain certain forward-looking information and statements concerning the company’s operations, performance and financial condition, including, in particular; the ability of the company to develop the software technology in connection with the patent; competition from other gaming companies to develop and market skill based gaming in North America; the ability of the company to successfully market online gaming sites that are for skill based gaming; the ability of the company to successfully market online gaming sites with a focus on horse racing. These statements are based upon a number of uncertainties and contingencies, many of which are beyond the control
of the company. Actual results may differ materially from those expressed or implied by such forward-looking statements. This document is not intended to be and is not an advertisement for any securities of the company.
-30-
For further information please contact:
LegalPlay Entertainment Inc.
Investor Relations
630 – 1188 West Georgia Street
Vancouver, B.C.
Canada, V6E 4A2
Tel: (604) 689-5998
Fax: (604) 689-8988
Email: Info@LegalPlay.com
Url:
www.SkillPoker.com andwww.LegalPlay.com andwww.DailyHorse.com
