Court Rules in Favor of Total Entertainment, Inc.; Shareholder Update.MONTREAL--(BUSINESS WIRE)--Oct. 4, 1999-- Total Entertainment Inc., (NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:TTLN) and its wholly-owned subsidiary Intercapital Global Fund Ltd. are pleased to announce that the Superior Court of Montreal, Province of Quebec, dismissed Interactive Gaming Communication Corporation's, (NASD OTC BB:SBET SBET Small Business Economic Trends ) claim that Total Entertainment Inc., and its wholly-owned subsidiaries owed unpaid royalties to SBET under a previous licensing agreement. Total Entertainment Inc., paid its royalties and licensing fees in advance to SBET, for use of SBET's gaming software. Total Entertainment Inc., terminated the agreement and renewal options with SBET early, due to the malfunctioning of SBET software and lack of technical support, with proper notice and in compliance with the licensing agreement. Sandy Masselli, Chairman and 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 TTLN stated, "I am extremely happy with the court's decision. For the past five months, SBET has been responsible for issuing false and misleading press releases and spreading misinformation mis·in·form tr.v. mis·in·formed, mis·in·form·ing, mis·in·forms To provide with incorrect information. mis to our shareholders and the investment community. We have directed our attorneys to pursue all appropriate legal action against SBET and its principals, including continuing our existing claim for damages against SBET and its principals. The press releases and statements SBET made about our company are fiction." Masselli added "Since we terminated our relationship with SBET we now have developed three new additional online properties and will soon launch our new portal site www.go2total.com. Our company decided that it was in the best long term interest of its shareholders and employees to become a fully reporting issuer. Our Audit by Grant Thornton, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and the SEC filing Form 10SB will be released and filed within the next few weeks." TTLN's online gaming sites can be found at www.theonlinecasino.com, www.bingoonthenet.com, www.slotsvegas.com, its Asian sites www.dragongaming.com, www.theluckydragoncasino.com, and www.dragonbet.com. The statements in this news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor provisions of the Private 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. Reform Act of 1995. |
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