Lottery & Wagering Solutions Inc. Announces the Suspension of Duty to File Reports under the Securities Exchange Act of 1934.PEMBROKE PINES Pembroke Pines, city (1990 pop. 65,452), Broward co., SE Fla., a residential suburb between Miami and Fort Lauderdale; inc. 1961. A significant retirement community, the suburb grew rapidly in the late 20th cent., and more than doubled in size between 1990 and 2000. , Fla. -- Lottery & Wagering wa·ger n. 1. a. An agreement under which each bettor pledges a certain amount to the other depending on the outcome of an unsettled matter. b. A matter bet on; a gamble. 2. Solutions Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :LWSL) announced today that it had filed a Form 15 with the Securities and Exchange Commission giving notice of the suspension of its duty to file reports under Sections 13 and 15(d) of the Securities Exchange Act of 1934. The Company stated that it had decided to make the filing primarily as a result of the disruption to its cash flow caused by the eviction The removal of a tenant from possession of premises in which he or she resides or has a property interest done by a landlord either by reentry upon the premises or through a court action. on January 1, 2005 of the Company's joint venture subsidiary from its premises in Paramaribo, Suriname, combined with the high costs of continued compliance with the SEC reporting requirements. The Company noted that under applicable SEC rules the duty to file such reports is immediately suspended sus·pend v. sus·pend·ed, sus·pend·ing, sus·pends v.tr. 1. To bar for a period from a privilege, office, or position, usually as a punishment: suspend a student from school. upon the filing of a Form 15, as the Company has fewer than 300 holders of record of its common stock, and has heretofore filed all required reports. This Press Release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. are reasonable at this time, it can give no assurance that such expectations will prove to have been correct. Actual results could differ materially based upon a number of factors including but not limited to judicial proceedings judicial proceedings n. any action by a judge re: trials, hearings, petitions, or other matters formally before the court. (See: judicial) in Suriname affecting the Company; the Company's working capital deficit and accumulated deficit; risks associated with geographic expansion and new lines of business; risks inherent in international businesses; political and economic factors; risks of foreign legal systems; restrictions and controls on foreign investments; government regulation; nature of the gaming industry; collectability of casino receivables; effects of currency fluctuations; competition; reliance on advances and dividends from subsidiaries; limited public market and liquidity, and other risks detailed in the Company's Securities and Exchange Commission filings. |
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