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Just like you never want to hear a doctor say "oops" in the operating room, you never want to see a going-concern statement
in a financial report about a company you own. Accountants throw these in when they've been over the books, talked to customers,
and checked the horoscopes and have concluded there is "substantial doubt" about a company's ability to remain in business.
In short, don't blame the accountants if the company files for bankruptcy protection.
You¿d reckon that a going-concern
statement would be enough to send investors running to the exits, but it's not. True, many large institutions automatically
bail when an existing company gets slapped with one of these, but many individuals (often wrongly) take a chance they know
more than the bean counters.
During the tech boom of the late 1990s, many companies actually went public even though they had been hit with going-concern statements. Many of those companies subsequently disappeared. Enough said.
Home / Markets / Industries / Technology
Wednesday, August 20, 2008
Parlay Entertainment to Power Smart TV's Online and TV Bingo Platforms
Comtex
LONDON, UNITED KINGDOM, Aug 20, 2008 (MARKET WIRE via COMTEX) ----Parlay Entertainment Inc. (TSX VENTURE: PEI), the world's leading supplier of Internet and TV bingo software solutions is pleased to announce that Smart TV Broadcasting Ltd has signed an agreement to license Parlay's technology for its Internet and television bingo initiatives.
Smart TV is the company behind Smart Live Casino, one of the newest and fastest growing live interactive casinos, broadcasting on Sky Channel 869 and Freeview Channel 22.
"Building on the remarkable success of our Smart Live Casino, our strategy is to expand the entertainment options for our players. Bingo is key to that strategy," said Dominic Bourke, Casino Product Manager of Smart TV. "Most importantly to us, we wanted to go to market with the leading product from the strongest partner. That's why we chose Parlay."
"We are thrilled that Smart TV chose Parlay as their bingo technology platform," said Steve Cook, European Managing Director of Parlay Entertainment. "Pioneering organisations like Smart TV are leading the way in the convergence of online and broadcast media. We are excited to be involved with them as bingo continues to evolve into a multi-channel mass-market entertainment opportunity."
Parlay will be exhibiting at the EiG conference in Barcelona between 23-25 September. Mr. Cook added: "We had a very successful Bingo Summit in London recently and received a lot of interest regarding Parlay5, our latest generation of bingo software. We are looking forward to generating more bingo excitement with the iGaming industry in Barcelona."
About Parlay Entertainment
Parlay Entertainment Inc. is the world's leading developer and dominant licensor of Internet bingo solutions. As the inventor and holder of Internet bingo patents1, Parlay was the first company in the world to develop and deploy a commercial Internet bingo product. Parlay Bingo is available in both 75-number and 90-number versions and is complemented by a full suite of lottery and casino games. Our multi-player, multi-platform technology is used to power more online bingo sites than any other software provider in the world. Some of the world's best-known brands use Parlay Bingo solutions, including Virgin, Yahoo!, Paddy Power, NetPlay TV, Bingos.co.uk, Expekt, Bet24 and the St. Minver, TGN and BingoNexus bingo networks. Parlay's head offices are in Oakville, Canada with offices in Bridgetown, Barbados and Valletta, Malta.
About Smart TV Broadcasting
Smart TV Broadcasting Ltd. is a company registered in England and Wales with a company number of 584 9825. Our product, Smart Live Casino, is one of the newest and fastest growing live interactive casinos on Sky Channel 869 and Freeview Channel 22. Smart Live Casino is licensed and regulated by the UK Gambling Commission, with licence number 000-002715-R-103240-001. Our office is located at 130 Shaftesbury Avenue, London W1D 5EU. Our gaming software employs the most modern encryption and security techniques to ensure safe and secure money transfers.
For more information on Parlay solutions and services, please visit our Web site at www.parlaygroup.com.
This document may contain statements about expected future events and/or financial and operating results of Parlay Entertainment Inc. that are forward-looking. By their nature, forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that predictions and other forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements.
(1) United States Patent No. 6,585,590, Canadian Patents No. 2,340,152 and 2,618,843, with other Patent applications pending in other countries.
The TSX Venture Exchange does not accept any responsibility for the adequacy or accuracy of this release.
Contacts: Parlay Entertainment Inc. Steve Cook European Managing Director +441932847597 Email: scook@parlaygroup.com Website: www.parlaygroup.com
SOURCE: Parlay Entertainment Inc.
mailto:scook@parlaygroup.com http://www.parlaygroup.com
Copyright 2008 Market Wire, All rights reserved.
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