the owners of www.gottaplay.com. The closing of theDefinitive Agreement is subject to the completion of required audits andlegal filings with an anticipated completion date in April. DONOBi will bethe surviving corporation. Prior to the Merger, DONOBi will complete a onefor six "reverse stock split" of its issued and outstanding common stock.The Definitive Agreement provides that upon the Merger, the stockholders ofGotaplay will own approximately 70% of the outstanding common stock ofDONOBi. DONOBi will change its name to "Gottaplay Interactive, Inc."
DONOBi further announced that it had executed a Letter Agreement withHighgate House Funds, Ltd., the holders of a $700,000 Secured ConvertibleDebenture, (the "Debenture"), secured by 11.5 million pre-reverse splitshares of DONOBi common stock. The Letter Agreement provides that Highgatewill not seek to convert the Debenture so long as DONOBi repays theindebtedness by paying $70,000 per month commencing in May 2006, until theentire Debenture is paid. Upon the final payment of the Debenture, theshares held as security will be returned to DONOBi for cancellation.
"We are very excited about our most recent signing of the DefinitiveAgreement to acquire Gotaplay Interactive, Inc., a leader in the on-linerental of video games for X-Box, Sony Play station, Nintendo and severalportable game consoles. The gaming market presents a huge opportunity forgrowth for the company and Gotaplay, with their proprietary distributionsoftware, is poised to be a leader in the field. We believe that thislatest acquisition will rapidly build value for our shareholders," saysBill Wright, Chief Executive Officer of DONOBi, Inc.
Gotaplay has made two strategic acquisitions of game rental companies overthe last year, and has successfully integrated those operations. Over thepast year Gotaplay Interactive has focused its attention on building outmultiple distribution centers, as well as the development of itsproprietary Game Distribution System ("GDS") software system that links alldistribution centers and provides an integrated network of processes onlineto conduct operations on a national level.
Forward-Looking Statements
Statements made in this press release that state the Company ormanagement's intentions, beliefs, expectations, or predictions for thefuture are forward-looking statements. Such forward-looking statements aresubject to a number of risks, assumptions and uncertainties that couldcause the Company's actual results to differ materially from thoseprojected in such forward-looking statements. These risks, assumptions anduncertainties include: the ability to complete systems within currentlyestimated time frames and budgets; the ability to compete effectively in arapidly evolving and price competitive marketplace; changes in the natureof telecommunications regulation in the United States and other countries;changes in business strategy; the successful integration of newly acquiredbusinesses; the impact of technological change; and other risks referencedfrom time to time in the Company's filings with the Securities and ExchangeCommission.
Contact:Bill WrightCEO of Donobi, Inc.Phone: (360)-473-1160
SOURCE: DONOBi, Inc.
In addition to online casino news hot off the presses, OCN shows you the best first deposit bonuses at the best online casinos on the web. We've spared you the search by putting together a list of the latest and greatest first deposit bonuses around. So, all you have to do is click and enjoy!
| Name | First Deposit |
|---|
| 500$ |
| 1000% |
| 100% match upto $200 |
| 300% uo to 300€ |
| up to 350$ |
Reuters reported recently that the United States is not worried about having to pay $100 billion in ...
The release of a new game is always a special event in the gambling industry, but when Microgaming, ...
The sixth annual European i-Gaming Congress and Expo got underway at the spacious Barcelona Diagonal...
The United States government released proposed guidelines for the Unlawful Internet Gambling Enforce...
On October 1, 2007 the Federal Reserve and the Department of the Treasury released their joint repor...
Although the passage of the UIGEA last year made it difficult for American players to gamble online,...
Are the new lax gambling laws causing more and more Britons to be under the sway of compulsive gambl...
You may have a surprise in your Full Tilt Poker Account today! After recent allegations that bots we...
Coming off a 26th-place finish at the World Series of Poker, Rancho Mirage's Roy Winston won the Bor...
But the Gloucester Township homemaker never expected another fight -- this time with bureaucrats -- ...
It should come as a surprise to no one that charity-poker games have emerged in recent years as an i...
Spurred by the three-month success of high stakes poker, the Naples-Fort Myers Greyhound Track’s pok...
Online Casino Group Betfair has announced that it has boosted its IT energy efficiency to support it...
Rumors have been circulating for a while now about the future of 32Red.com and its Gibraltar-based B...
CryptoLogic has announced that they have received exclusive rights to make slots and other casino ga...
Since the beginning of the U.S. Presidents first term, the Bush administration has been trying to ke...
The coastal casino in the State of Mississippi have had a diffilcutl few years, yet it seems that th...
Her Majesty Queen Elizabeth II recently found that not only was she one of the most richest women in...
It seems that there is no limit to how low some online casinos can go in order to secure a profit. V...
After a 10-month investigation into the slimy world of Internet "casinos or sports books", Americas ...
It looks like the team behind Online-Casinos.com want to make their online casino portal a fun place...
Positive Experience Begins Even Before Guests Step Out of Their Cars at Harrah's, St. Louis Casino &...
Penghu, a set of islets off Taiwan, is trying to be the next Macao by building a casino town to lure...
The battles against the draconian UIGEA seems to be gaining momentum in the world courts. Here are t...
The Online Casino industry has experienced the worst setback that it ever has since UIGEA. However, ...
The recent British Online Gambling Act has sent the online casino industry into a flurry of exciteme...
As agreed by all interested parties, the hearing that was to take place on the issue of repealing th...
eCOGRA, the world's Internet Pilce Officer, has announced that it approves of the measures taken in ...
Playtech has announced that its Cheif Financial Officer, Shuki Barak, is leaving the group. ...
The Gambling Act is the first peice of legislation that has been passed in the UK about gambling. Wh...
Have you committed a crime in order to pay gambling debts? When you gamble, do you go back another d...
America’s Attorney General Alberto Gonzales has at long last bowed to pressure and has resigned from...
As of today, online gambling in the United Kingdom, as well as advertising from online casino operat...
PartyGaming PartyGaming published their first-half interim results this week, reporting an expected ...
In papers filed today, the US District Court of New Jersey, Trenton Division, has granted a motion o...
Malta is the next online casino superpower, it seems. Here is the storty how a little country draws ...
For some addicts, a casino can be the root of all evils. For others, a fix can come from visiting th...
The new piece of legislation banning advertisements in the UK has caused some stir in the online gam...
Pachinko has become one of the most popular games in the world. Here are a few tips that will help y...
| Name | Payout | |
|---|---|---|
| Club Vegas USA | 99% |
|
| Rushmore Casino | 97.2% |
|
| Cool Cat Casino | 98% |
|
| Club USA Casino | 97.5% |
|
| Sun Palace Casino | 98.2% |
|
Online Casino News - news
from the world of
online casinos RSS Feed.
The OCN directory is currently in development and will be available soon. If you are interested in adding a link, just click on the “Add Link” button. Thanks for your patience.
You do not need prior permission to link to any of the pages on this site. Limited copyright is granted for you to use and/or republish any of the articles on this site for any legitimate media purpose as long as you reference OCN as the source, and include a link referring the reader to the OCN site.