NONA MORELLI'S II, INC. ANNOUNCES 13D FILING WITH JOSEPH J. MONTEROSSO, PRESIDENT OF NATIONAL POOLS CORP.
IRVINE, Calif., June 27 /PRNewswire/ -- Nona Morelli's II, Inc. (OTCBB OTCBB
See OTC Bulletin Board (OTCBB). : NONA) announced today that on June 13, 1996 it entered into an Option Agreement with Joseph J. Monterosso, President of National Pools Corporation of San Francisco, CA. The option grants Mr. Monterosso the right to acquire the 250,000 shares of Series B preferred stock of NuOasis Gaming Inc. (OTCBB: NUOG NUOG Nuclear Utility Obsolescence Group ) owned by Nona. Mr. Monterosso disclosed in a document filed with the Securities and Exchange Commission on Monday that he intends to purchase the shares to gain influence over or control of NuOasis Gaming so that it will acquire National Pools.
National Pools Corporation is a California corporation founded in 1992 by Mr. Monterosso and others to provide its proprietary HIT-LOTTO service in states with lotteries. According to Mr. Monterosso, National Pools has completed test marketing of its service and its sale of a pre- paid debit card called the HIT-LOTTO Value Card, and intends to offer the "Hit Lotto" service nation-wide.
The HIT-LOTTO program, which incorporates proprietary software developed by the company, has been in testing and development since 1992, and now complies with various state models for group lottery play. The service also complies with state and federal regulations applicable to telephonic transmission.
Mr. Monterosso believes that the HIT-LOTTO service will succeed in attracting 1.5% of the more than $2.5 billion in average monthly national lottery ticket sales within the next few years.
Nona Morelli's II Inc., historically a manufacturer of fresh pasta and Italian food products, is a leisure and entertainment holding company with operations and development-stage activities in international and domestic gaming, food manufacturing and commercial real estate.
/CONTACT: OTC OTC
See over-the-counter market (OTC). Communications, 800-458-1786/
CO: Nona Morelli's II Inc.; NuOasis Gaming Inc.; National Pools
Corporation ST: California IN: CNO SU: TNM TNM tumor-nodes-metastasis; see under staging.
tumor, nodes and metastases; a system of cancer staging (see TNM staging).
SB -- NETH022 -- 3504 06/27/96 16:28 EDT