BGI Updates Information.AUSTIN, Texas -- BGI BGI Barclays Global Investors BGI Bainbridge Graduate Institute BGI Bureau Gravimétrique International BGI Borland Graphic Interface (File Name Extension) BGI Bridgetown, Barbados - Grantley Adams International , Inc. (Pink Sheets: BGII BGII Baldur's Gate II: Shadows of Amn (computer game) ) today announced that since December 4, 2006 the following significant events have transpired: In response to the Alabama Supreme Court The Supreme Court of Alabama is the highest court in the state of Alabama. The court consists of a Chief Justice and eight Associate Justices, elected in partisan elections for staggered six year terms. ruling issued in the case of Barber v. Jefferson County Jefferson County is the name of 25 counties and one parish in the United States. The following are named for Thomas Jefferson, third President of the United States:
To enter the dates of judicial proceedings scheduled for trial in a book kept by a court. No. 1050857 (Ala., Dec. 1, 2006) becoming a final, enforceable judgment BGI ceased operations in Alabama. On December 6, 2006 the Board of Directors of BGI met and authorized the retention of outside counsel to file a claim for the return of the $892,054.14 seized by the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Government. The Board also put in place policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental to insure that there would be no violation of the reporting requirements of 31 U.S.C. SS5313(a) for cash deposits into financial institutions. On August 27, 2007 a one-count indictment was filed in the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. in the Western District of Oklahoma, charging Pre-Paid Plus, Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of BGI, with knowingly and for the purposes of evading the reporting requirements of 31 U.S.C. SS5313(a), structuring cash deposits into financial institutions. On March 3, 2008, Pre-Paid Plus, Inc., agreed to plead guilty to the one count indictment, forfeit the seized funds and pay a fine of $100,000.00 and a final judgment was entered by the court. On March 29, 2007 BGI was served with a summons in a civil case styled Cyberdyne Systems, Inc., v. BGI, Inc. case number CV06-02954-PHX-ROS, filed in the United States District Court, District of Arizona. The principal claim of the complaint is copyright infringement Noun 1. copyright infringement - a violation of the rights secured by a copyright infringement of copyright plagiarisation, plagiarization, piracy, plagiarism - the act of plagiarizing; taking someone's words or ideas as if they were your own and breach of the Cyberdyne Exclusive Distribution Agreement. BGI has retained outside counsel and is vigorously defending the suit and has filed breach of contract counterclaims against Cyberdyne. This litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. is in the discovery phase and the parties anticipate a jury trial of the issues before year end. On July 12, 2007 the Board of Directors of BGI accepted the resignation of William Schwartz William Schwartz (born 1933) is an American law professor and corporate director. He is corporate director of Viacom, a professor of property law at Yeshiva University's Cardozo School of Law, and of counsel to of Cadwalader, Wickersham & Taft, a law firm in New York City. as a member of the Board and as BGI's President and Chief Executive Officer. The Board retained Reid Funderburk as the new Chief Executive Officer and he was elected to the Board. Mr. Funderburk has been associated with BGI for over 13 years, having served BGI in many positions of responsibility including Chief Executive Officer. Mr. Funderburk brings a vast amount of institutional knowledge to his new positions. On September 19, 2007 the Board of Directors deemed it in the best interests of the Company to purchase One-Cool Product, Inc. One-Cool Product produces and distributes a product branded under the name Bottle-It used as an attachment to canned drinks to prevent spillage. The Bottle-It is sold with logos imprinted such as a major university or a company name. One-Cool Product was previously owned by Reid Funderburk and he agreed to sell the company to BGI for his original cost. The Bottle-It products can be viewed at www.onecoolproduct.com. On December 11, 2007 the Board of Directors authorized the creation of a wholly owned subsidiary limited liability company in Texas to be named Clippl, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . The Board also authorized the purchase from Kevin Dill of the technology and the web site domains associated with Clippl, including clippl.com and clippl.mobi. The purchase price included both equity and cash. Clippl is new streaming mobile technology allowing the user to send an instant video message to the recipient using a cell phone or the web. Clippl technology can be viewed at www.clippl.com. On January 11, 2008 BGI sold its phone switch and associated assets to Switch Dynamics, LLC. The management of Switch Dynamics, LLC has many years of experience in the telephonic communications industry communications industry, broadly defined, the business of conveying information. Although communication by means of symbols and gestures dates to the beginning of human history, the term generally refers to mass communications. . On January 15, 2008 BGI sold 350 Cyberdyne phone card dispensers and all the rolling stock rolling stock Any of various readily movable transportation equipment such as automobiles, locomotives, railroad cars, and trucks. Rolling stock generally makes good collateral for loans because the equipment is standardized and easily transportable among and assets located in Oklahoma to Roland Leasing, LLC. The management of Roland Leasing, LLC has a long history of doing business in Oklahoma with experience in both the bingo industry and the sweepstakes industry. BGI feels certain that Roland Leasing will continue to serve the customers of BGI in the manner to which they have become accustomed and deserve. On January 18, 2008 BGI invested in SnapPages, LLC. SnapPages is an online SaaS (Software as a Service) provider that caters to a mainstream audience. SnapPages offers a suite of online applications that allow the average person to perform several different tasks online. Users can upload and share photos, organize a calendar, keep in touch with friends, and even build an entire website all online. The goal of SnapPages is to create online applications so simple and intuitive that anyone can use them regardless of their technical expertise. SnapPages is currently in a beta testing (programming) beta testing - Testing a pre-release (potentially unreliable) version of a piece of software by making it available to selected users. This term derives from early 1960s terminology for product cycle checkpoints, first used at IBM but later standard throughout the phase with plans to launch this summer. You can visit snappages.com to try out all the applications online. BGI's interest represents a fifteen percent member interest in SnapPages, LLC. The SnapPages technology can be viewed at www.snappages.com. The management of BGI is excited about the continued opportunities associated with the Cyberdyne Exclusive Distribution Agreement and the new ventures being pursued by BGI in the areas of software development and green technologies. This press release may contain forward-looking statements including BGI's beliefs about its business prospects and future results of operations. These statements involve risks and uncertainties. Among the important additional factors that could cause actual results to differ materially from those forward-looking statements are risks associated with the overall economic environment, changes in anticipated earnings of the company and changes in the competitive marketplace. In addition, the factors underlying company forecasts are dynamic and subject to change and therefore those forecasts speak only as of the date they are given. The company does not undertake to update them; however, it may choose from time to time to update them and if it should do so, it will disseminate the updates to the investing public. About BGI, Inc. BGI, Inc., (http://www.bgicorp.com) is engaged in new business development concentrating its efforts on companies with growth potential in software and web 2.0 technologies as well as companies with green forward thinking technologies while continuing to strengthen its position in the sweepstakes industry. BGI holds an exclusive distribution license for the States of Alaska, Alabama, Washington, Texas, Oklahoma, Kansas, and North Dakota North Dakota, state in the N central United States. It is bordered by Minnesota, across the Red River of the North (E), South Dakota (S), Montana (W), and the Canadian provinces of Saskatchewan and Manitoba (N). for distribution of the Cyberdyne Charity Station promotional sweepstakes machine and the Lucky Strike Prepaid Phone Card Dispenser. BGI, Inc. was founded in 1994 and has offices in Austin, Texas. The Company currently trades on the Pink Sheets under the symbol BGII. |
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