posted
MPTS news = MangaPets to Pursue Gaming Opportunities
Apr 26, 2006 11:06:00 AM 2006 PrimeZone Media Network VANCOUVER, British Columbia, April 26, 2006 (PRIMEZONE) -- MangaPets Inc. (OTCBB:MPTS) (the "Company") today announced that in addition to completing the MangaPets web portal the Company will establish a U.K. based subsidiary company which will pursue acquisitions in the gaming sector.
The U.K. subsidiary will embark on an aggressive strategy to acquire internet casino, sportbook and on-line poker properties. The Company anticipates that a number of U.K. based financial institutions will participate in the funding of these acquisitions. The Company will be targeting established gaming businesses valued from $15 million to $50 million (USD).
The Company is pleased to announce that Weinstock Ackers and Johns ("Weinstock") will assist its U.K. subsidiary with this initiative. Weinstock is a London based consulting firm specializing in both land based and on-line gaming operations.
Forward-Looking Statements: A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. When used in this press release, words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward looking statements. Although MangaPets believes that the expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. MangaPets encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-KSB, Form 10-QSB and Form 8-K. MangaPet's public filings may be viewed at www.sec.gov.
CONTACT: MangaPets Inc. Roderick Shand (604) 725-4160 rodmcishand*yahoo.ca
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posted
WHERE IS MB? Am I the only one following this stock? News out, up 15% today to 1.50. Been up pretty much since MB posted this.
MangaPets Appoints New Directors Wednesday May 3, 10:43 am ET
VANCOUVER, British Columbia, May 3, 2006 (PRIMEZONE) -- MangaPets Inc. (OTC BB:MPTS.OB - News) (the ``Company'') today announced that Paul Weinstock, Brian Woods and Joseph LaCascia have been appointed to the Company's board of directors to assist with the acquisition of internet casino, sportbook and on-line poker properties. ADVERTISEMENT
Paul Weinstock:
Mr. Weinstock has accumulated over 10 years of experience in the online gaming industry. In 1995 Mr. Weinstock envisioned the need for a turn key solution for the operators of the gaming industry. In 1996 his company was one of the first company's to be issued an Internet gaming license by the government of the Dominican Republic. The company was one of the premier hosting and licensing facility for the gaming industry. Mr. Weinstock was involved in the company's day to day operations until 2000.
In 2000 online gaming was beginning its initial growth as an acceptable industry. One of the major hurdles online gaming operators encountered was how to accept payments for the actual wagers. Mr. Weinstock recognized an opportunity to be able to provide the online operators with a solution of being able to accept major credit cards from multiple banks. Mr. Weinstock and his team created innovated state of the art proprietary software that allowed the online operator to accept all major credit cards with an instant approval or denial, integrated fraud controls to avoid credit card fraud, integrated back end accounting and a user friendly integration which adapted to any online gaming software provider.
Mr. Weinstock is known for his extensive experience and knowledge in the gaming industry. He is a Principal of Weinstock, Ackers & Johns P.A. based in London England, a leading provider of consultancy services to the online gaming industry.
Brian Woods:
Mr. Woods is one of the founding partners of the first Internet casino ever to process transactions online. It was the first online casino to achieve over 1 billion dollars in annual turn over. The online casino is still in business today and is one of the most well known and successful sites on the Internet.
As the technological leader of the organization, Mr. Woods pioneered numerous technologies that have since become standard in the gaming industry including multi processor support, advanced accounting methodologies, and innovative customer relationship management systems. In 2001, Mr. Woods sold his interest in that company in order to establish a new online casino company, fueled by a vision of an integrated gaming company with greater scope and flexibility. The company operates three highly successful online casinos and is growing at a rapid rate. Mr. Woods is considered an expert in the online gaming industry and is well respected by his colleagues.
Mr. Woods has continued to innovate in the field of online transaction processing, customer relationship management and gaming. In 2003, he established Instadebit; a new model of online processing solution which has set the standards that has been emulated by giants in the industry. The company has grown to become a strong influence in the online gaming market place during the year 2004, and continues to flourish in 2005. Mr. Woods has divested his majority shareholding position in the company, but continues to play a key advisory role.
In November of 2003, Mr. Woods moved to expand his gaming expertise in the land-based casino sector. Over an 18-month period, he took over the management of Banco Casino, in Prague, Czech Republic, and from operating cash-flows, was able to triple average monthly drop and move the operation into a profitable position. Banco Casino is one of the most profitable and well managed casinos in Prague.
Mr. Woods studied computer sciences math at Queen's University and has spearheaded numerous other successful technology ventures in the past 20 years in the fields of Internet Technology, Data Mining for the Resource Industry and Online Customer Relationship Management and Marketing.
Joseph LaCascia
Graduated with an A.L.B. (Bachelor of Arts), Social Sciences, Concentration: Economics from Harvard University, Cambridge, Massachusetts.
Mr. LaCascia is currently the CEO of Futurebet Gaming Systems, Nevis, West Indies (``Futurebet''), a web based software development firm specializing in online and land based gaming software applications. He has led acquisition and debt restructuring efforts to position this company for exponential growth. He increased the base of operating partners through strategic sales initiatives from 40 to 100+ within the first 12 months of tenure. While CEO, Futurebet revenue has increased by 600% and experienced extreme growth, increasing the organization from 11 to 80+ associates.
From 1992 to 1997 Mr. LaCascia was the senior vice president of First USA Partners (``FUSA'') a privately held firm that acted as the exclusive partnership marketing development arm of First USA Bank. He was a founding member of this affinity credit card marketing firm, taking annual sales from zero to $20 Million+ within the first five years of operation further positioning the company for its eventual sale to Bank One Financial Corp.
Mr. LaCascia developed, implemented and established FUSA's operational processes while overseeing day to day business functions including sales, marketing, human resources, finance, accounting, MIS and general administration. In addition he established the company's proprietary operating system, identified new markets, targeted new prospects leading First USA's partnership marketing efforts into several new industry segments
He also orchestrated sales and brand marketing strategies resulting in the development of more than 650 endorsed MasterCard and Visa programs, alliances translating into more than 5 Million new credit card accounts and $8 Billion+ in Outstandings for First USA. Programs initiated include:
-- New York Life -- Countrywide Mortgage -- America Online -- United States Tennis Assn. -- Yale University Alumni Assn. -- National Audubon Society -- American Kennel Club -- PGA Tour Partners
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MangaPets Appoints Investment Bankers May 4, 2006 12:01:00 PM 2006 PrimeZone Media Network VANCOUVER, British Columbia, May 4, 2006 (PRIMEZONE) -- MangaPets, Inc. (OTCBB:MPTS) (the "Company") is pleased to announce the appointment of Moore, Clayton & Co. as the Company's Investment Bankers to assist it, and its U.K.-based subsidiary, with the acquisition and financing of internet casino, sportbook and on-line poker properties. MCC Financial Services will be responsible for the Company's investor relations.
Tony Moore, the CEO and Co-Chairman, commented, "We at Moore, Clayton are very pleased to have been given the opportunity by MangaPets to work with them on the financing and realization of their strategy for acquiring internet gaming properties. This is a very exciting sector, which has tremendous growth potential, and we believe the team that MangaPets has assembled has both the knowledge and experience to execute this well-thought-out strategy. We look forward to working closely with MangaPets to achieve its goal."
Moore, Clayton & Co. ("MCC"), a full-service international private equity investment and advisory firm with offices in London, Los Angeles and New York, was established by Tony Moore and Sharon Clayton to combine their skills to fill a major gap in the market between strategic consulting, operations expertise, corporate finance and investment banking. Tony Moore contributes his experience as a global investment banker and entrepreneur, and Sharon Clayton contributes her international experience in strategy, operating and business development. MCC has specialized in delivering integrated solutions by creating a strong, balanced and highly diversified portfolio of clients and investee companies. MCC has its own regulated entities -- MCC UK, regulated by the Financial Services Authority and MCC Securities the New York-based broker dealer.
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MangaPets Inc. Issues Shareholder Update Friday May 12, 2:50 pm ET
VANCOUVER, British Columbia, May 12, 2006 (PRIMEZONE) -- MangaPets, Inc. (OTC BB:MPTS.OB - News) today announced that it has entered into negotiations to acquire two profitable on-line gaming properties through its wholly owned UK subsidiary. The two businesses to be acquired presently have annual waging of U.S. $100 Million each.
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MangaPets Signs Purchase Agreement Wednesday May 17, 2:16 pm ET
VANCOUVER, British Columbia, May 17, 2006 (PRIMEZONE) -- MangaPets, Inc. (OTC BB:MPTS.OB - News) (the ``Company'') is pleased to announce the signing today of an agreement to purchase an internet gaming company which confirms has annual waging in excess of one hundred million (US$100,000,000). The closing of the acquisition is subject to the completion of due diligence and a confidentiality agreement.
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Entry into a Material Definitive Agreement, Termination of a Material Definitive
Item 1.01 Entry Into a Material Definitive Agreement On May 16th, 2006 MangaPets Inc. (the "Company") entered into an agreement (the "Agreement") to purchase one hundred percent (100%) of the assets (the "Assets") from a limited liability company organized and incorporated under the laws of the Netherlands Antilles (the "Vendor); with the exception of one copy of the Vendors source code used to operate a processing and marketing engine (the "Excluded Assets") for an aggregate purchase price of eight million dollars (US $8,000,000) ("The Purchase Price").
The Assets include ten internet domain names (the "Domains) which are specific to the online gaming industry, the license for 3 complete software solutions (the "Software') for running an Online Casino with three of the Domains, all customer information, transaction history and affiliate and marketing data as recorded by the Software on Closing Date from three of Domains; the software and source code behind the technology used to operate the processing and marketing engine behind five websites developed from five of the Domains; the database of current data in the technology used to operated the processing and marketing engine behind five websites developed from five of the Domains, including but not limited to all their affiliates, customers (players) and the financial data of customers, processing, their 3rd party integrations; one sub-license agreement; and one hosting agreement.
The Company has agreed to pay two million dollar's (US $2,000,000) and issue that number of par value $0.001 common shares of the Company equal to one million six hundred thousand dollars (US $1,600,000) on June 18th, 2006 (the "Closing Date"). The Assets of the Vendor will be transferred to the Company on the Closing date.
On March 1st, 2007 the Company shall pay the Vendor by way of wire transfer four million four hundred thousand dollars (US $4,400,000) to complete the payment of the Purchase Price.
The Vendor's unaudited total wagering in 2005 was one hundred and ninety six million dollars (US $196,000,000) with a net profit of one million four hundred thousand dollars (US $1,400,000). The Vendor expects unaudited total wagering in 2005 to equal two hundred million dollars (US $200,000,000) with a net profit of two million two hundred thousand dollars (US $2,200,000).
The Agreement is subject to due diligence and confidentiality terms wherein the identity of the parties to the agreement, the specific websites and URL's may not be disclosed until after the Closing Date.
Item 1.02 Termination of a Material Definitive Agreement On May 15, 2005 the consulting agreement between Kent Carasquero and the Company was terminated. Under the consulting agreement Mr. Carasquero managed the Company's accounts receivable and payable, and acted as a liaison with the Company's accountants, auditors and lawyers. The contract was terminated as a result of a change in management and there were no termination penalties incurred.
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