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[QUOTE]Originally posted by will: [QB] I have watched it for a few months now. Seen it as low as .0003 and as high as .002. I haven't really looked at it though. Start pulling it apart. [QUOTE]Originally posted by Doo-Man: [b]Does anyone keep an eye on VGME.Any info would be helpfull.Really cheap right now.[/b][/QUOTE] Found a little something: (Feb. 2004) In a civil proceeding filed in the United States District Court for the Eastern District of New York in January 2000, identified by Case Number 00 CIV 0276, Platinum I.T. Consulting, Inc., and Edward Marian, alleged that Virtual Gaming Enterprises, Inc., Virgil Williams, Brenda Williams and others violated Section 12(1) of the Securities Act, Violated Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, Breached their Contract(s) with Plaintiff(s), Fraudulently Induced Plaintiff(s) to purchase the Company's securities, Converted Plaintiff(s) funds, and were Unjustly Enriched at Plaintiff's expense. Plaintiffs sought damages in excess of Five Million ($5,000,000.00) Dollars. The Company deemed it in its best interest to resolve this matter, as the costs and fees for defense would largely outweigh the costs of resolution. Accordingly, without admitting or denying the allegations in the Complaint, the Company and Virgil and Brenda Williams entered into a Settlement and Consent Judgment whereby they agreed to compensate the Plaintiffs in the amount of $170,00.00 within 75 days of the effective date of the Settlement and Consent Judgment. Due to the hospitalization of the Company's President Virgil Williams, the Company did not make payment as required under the Settlement and Consent Judgment. As a result, and by the terms and provisions of the Settlement and Consent Judgment, the Settlement Obligation has increased to $250,000.00. The Company expects to remit this amount to the Plaintiffs, in care of Plaintiffs' Attorney, in short order. 198,485,771 Common Shares, $0.001 Par Value, Issued and Outstanding. 10QSB : [URL=http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3D%5C2004%5C07%5C26%5CEDGARNews_0001019687-04-0016030000894562.html%26clientid%3D168%26provider%3DEDGARnews&sy]http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3D%5C2004%5C07%5C26%5CEDGARNews_0001019687-04-0016030000894562.html%26clientid%3D168%26provider%3DEDGARnews&sy[/URL] mbol=VGME [This message has been edited by will (edited August 02, 2004).] [This message has been edited by will (edited August 02, 2004).] [/QB][/QUOTE]
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