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CYOP Systems Provides Shareholder Update; Company Building Towards Multiple Online Revenue Streams Business Wire - August 08, 2005 09:45
BEVERLY HILLS, Calif., Aug 08, 2005 (BUSINESS WIRE) -- CYOP Systems International Inc. (OTCBB:CYOS), a leading provider of online gaming software and operator of games portals, is pleased to provide an update on its corporate development of its potential multiple revenue streams.
The Company is a provider of multimedia transactional technology solutions and services for the entertainment industry. The Company's range of products and services include financial transaction platforms for online video games, licensed online gaming software and integrated e-commerce transaction technology for online merchants.
In 2005 the Company embarked on an aggressive strategy to build up its services and productions capabilities by embarking on a number of new ventures. These "business centers" are all subsidiaries of the Company and join the existing divisions of the Company. They are as follows:
1. SkillArcade.com
2. CrediPlay.com Network
3. CrediPlay.cn (online poker and pool with Sina.com)
4. Red Felt Software
5. TenseatPoker.com
6. TenSeatPoker.com (Chinese version)
7. Red Felt Bingo Software
8. Red Felt Studios
9. CrediPlay Mobile Games
The Company intends to monetize these products through a number of revenue streams including:
1. Tournament fees from cash skill games
2. Percentage of cash rake from poker games
3. Percentage of net win from casino games
4. Percentage of cash sales from monthly subscriptions
5. Licensing of software to third parties
6. Advertising sales on play for free sites
7. Sponsorship sales on play for free sites
8. Player database rentals to third party advertisers
A full overview of the Company update may be ordered by emailing patrick@cyop.org.
Online gaming will continue to be an explosive cash generator. Gaming consultants Christian Capital forecast that gaming revenue will rise to $22.7 billion (US) by 2009, from $8.2 billion in 2004, a growth of 22 percent. Online gaming is also expected grab an 8.1% share of the worldwide global gaming market.
Mitch White, CEO of CYOP, stated, "In order for our Company to expand its operations and realize profits from pay for play online gaming, we are actively pursuing strategic affiliates and partnerships. The Company is moving from that of only software development to one that is working to build revenues in this exciting juncture of our Company's history."
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After the announcement, it went up 60% to .042 from .026 at opening....Volume 39,152,195.
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