CYOP Launches TenSeatPoker.com Internet Poker Site Ready for Cash Play.BEVERLY HILLS, Calif. -- CYOP CYOP Create Your Own Path Systems International Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CYOS CYOS Create Your Own Story ), a leading provider of online gaming software, is pleased to announce it has launched its Internet poker software for play at www.tenseatpoker.com operated through the company's UK subsidiary Red Felt Software Inc. The previously announced non-downloadable Texas Hold'em poker game at TenSeatPoker.com is ready for cash play, meaning players do not have to install large files on their computers. A secure transaction system has been developed with multiple layers of security and redundancy, allowing players to use multiple forms of payment. As reported by the UK Register: "In the two years since online poker first tempted punters, the industry has grown from $100,000 in gross rake per day in January 2002 to between a staggering global $2m and $2.5m." More than 200 online poker sites collectively are generating about $3 billion a year in revenues, equal to 60% of last year's $5 billion in gambling revenues from all of the Las Vegas "Strip." An estimated 1.7 million players are active online, meaning they've played in the past six months. And about 150,000 people play on an average day, according to PokerPulse.com. And, online gaming company PartyGaming PLC has set an indicative price range for its initial public offering at 111 pence to 127 pence a share, implying a market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 4.76bn ($8.6bn) using the mid-point of the range. This will be enough to leap the company into the UK's benchmark FTSE 100 index FTSE 100 Index A market-weighted index of the 100 leading companies traded in Great Britain on the London Stock Exchange. The Financial Times on its debut. Mitch White, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CYOP, commented, "We are happy to have taken CYOP's poker out of development and into revenue. The amount gambled on poker websites around the world in 2005 is estimated to be more than USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $60 billion, and the commission revenues around USD $3 billion. CYOP intends to begin marketing its software immediately to the end user and through business partnerships with existing gaming sites and portals." About CYOP CYOP is a developer and provider of online skill-games, poker and services for the online gaming industry. CrediPlay, CYOP's licensed application, is an online transaction platform that is based on charging a fee for each game played over the Internet. CYOP's central games portal, www.skillarcade.com, features virtual games where people play popular skill games against other players and compete in tournaments to win real money prizes. CYOP's Poker Software may be viewed at www.redfelt.com, and its play for cash site at www.tenseatpoker.com. For more information please visit www.cyopsystems.com. This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Exchange Act of 1934 and the provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and is subject to safe harbor created by these sections. Actual results may differ materially due to a number of risks, including, but not limited to, technological and operational challenges, needs for additional capital, risks associated with market acceptance and technological changes, risks associated with dependence on software providers, and risks associated with competition. Play Games. Win Games. Make Money. (TM) |
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