1 EXHIBIT 10.16 REVISED AMENDMENT TO THE ASSIGNMENT AGREEMENT DATED APRIL 19, 1999 AND THE AMENDMENT TO THE ASSIGNMENT AGREEMENT DATED JUNE 11, 1999 BETWEEN: CYBEROAD GAMING CORPORATION, a St. Kitts corporation, ("CGC"); and BETWEEN: CYBEROAD.COM (ISLE OF MAN) LIMITED, an Isle of Man corporation, ("Cyberoad IOM"); WHEREAS this revised amendment acknowledges that: a) the parties hereto agree that the effective date for all agreements, being the Assignment Agreement and License, dated April 19, 1999 and the Amendment to the Assignment Agreement, dated June 11, 1999, bear the effective date of May 1, 1999. EXECUTION IN COUNTERPART This instrument may be signed in counterpart, in as many counterparts as is necessary, and shall be deemed an original, and shall constitute one and the same instrument, and shall bear the date first written above. ACKNOWLEDGED AND AGREED TO THIS 18TH DAY OF OCTOBER, 1999 BY: CYBEROAD GAMING CORPORATION CYBEROAD.COM (ISLE OF MAN) LIMITED /s/ LAWRENCE COFIELD /s/ JOHN COFFEY - --------------------------------- -------------------------------- Lawrence Cofield, John Coffey, Director Director