CYOP Systems Adopts New Licensing Strategy.LONDON -- Red Felt Software Ltd., 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 CYOP CYOP Create Your Own Path Systems International Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CYOS CYOS Create Your Own Story ), is pleased to announce that it will continue to license its online casino Online casinos, also known as virtual casinos or internet casinos, are online versions of traditional ("brick and mortar") casinos. Online casinos enable gamblers to play and wager on casino games through the Internet. software to third parties under new terms See suggestions for new terms. and conditions. Given the changes in the laws in the United States regarding iGaming payment processing, Red Felt will no longer take a percentage of net wagers from its USA facing licensees. Rather, it will take a fixed monthly fee covering the following services provided by the company: * Management of gaming software * Hosting and collocation of web servers * Hosting and collocation of gaming and transaction servers * Technical Support and Security Monitoring By structuring the software fees this way, Red Felt believes it has positioned itself so that it will not benefit from wagering that occurs in the USA, and it will remain in compliance with the Unlawful Internet Gambling Enforcement Act of 2006 (included in HR 4954, the Port Security Improvement Act of 2006) Non USA facing licensees will pay an upfront set up fee, a percentage of the net and a monthly hosting fee for: * Fully built gaming site * Non-Download gaming software * Real Time live reporting * Hosting & Server monitoring * Credit Card Processing Patrick Smyth, 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, "The Company intends to target opportunities outside the USA enabling the Company to be amongst first to market in emerging areas of opportunity. Given that North America is approximately two to five years ahead of the rest of the Internet world, there exists an opportunity for start-up ventures in areas such as Asia due to the relative ease and low cost of marketing as compared to the Americas." About CYOP CYOP is a developer and provider of online gaming solutions and services for the iGaming industry. The Company's range of products and services include financial transaction platforms for on-line casinos, online gaming software, gaming websites, poker portals and integrated e-commerce transaction technology for on-line merchants. For more information please visit www.cyopgaming.com This press release may contain forward-looking statements which are pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 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. Investors are cautioned that actual results may differ materially and all forward-looking statements involve risks and uncertainties including, without limitation, risks associated with the Company's financial condition and prospects, legal risks associated with Internet gaming, risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on third party software providers, risks relating to international operations, and risks associated with competition.. Play Games. Win Games. Make Money. [TM] |
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