Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
None, everything is still a big question mark.
Keep your eye on VGHI, its suppose to give one of the companies
to shareholders in the form of a spin out.
In addition the company is making a nice comeback.
I had it for years and watched it go down $$. When the stock
idled around 10 cents, I noticed that the CEO was investing Millions
in buying shares for his retirement plans. His wife and children did the same.
The stock is now hovering between 60 and 75 cents a share.
I have it as a strong buy in my portfolio. I regret not having told you
about it before. There are Gold mines that are in ?. The coal mines are
positive. I feel that this stock will go into the 2-3 dollar range in about a year
taking the value of the spin off into consideration.
THANK YOU FOR YOUR POST. Let me know if you hear of a good penny stock.
I for one will not buy anymore penny stocks unless they are a reporting company
and preferably with at least one analyst.
GOOD LUCK, PsD. hfc1425@hotmail.com
sucks these guys are doing a reverse spit...there would be a lot more interest in this one
PsD,,fancy seeing you here! please inform if any significant findings...recent news caught my eye..
It states "reverse split ", as part of the quote. What am I reading wrong?
all it says in feburary
And the good news continues: After months of what seems like endless communication between government regulators and our attorneys and transfer agent, Kenilworth's request for approval of the reverse split and share restructuring by the SEC and FINRA agencies is within grasp. We expect to be able to issue the new shares in February.
Their press release talks of a reverse split.
i havent heard anything to
I have been unable to obtain information on the reverse split that is forthcoming.
I was wondering if anyone has the ratio.
This will be big for Kenilworth Systems
Expect forthcoming announcements regarding our progress in developing state of the art online wagering technology for live sporting events and extending the live casino experience to the latest generation of tablet PCs, iPads, smartphones, Amazon's Kindle tablet, and home theaters worldwide
Barchart.com (Quote Strong BUY)
7 Day Average Directional Indicator (Buy)
10 - 8 Day Moving Average Hilo Channel (Buy)
20 Day Moving Average vs Price (Buy)
20 - 50 Day MACD Oscillator
20 Day Bollinger Bands Buy
Short Term Indicators Average: 60% (Buy)
20-Day Average Volume - 287,335
Medium Term Indicators
40 Day Commodity Channel Index (Buy)
50 Day Moving Average vs Price (Buy)
20 - 100 Day MACD Oscillator Hold
50 Day Parabolic Time/Price (Buy)
Medium Term Indicators Average: 75% (Buy)
50-Day Average Volume - 228,982
Long Term Indicators
60 Day Commodity Channel Index (Buy)
100 Day Moving Average vs Price (Buy)
50 - 100 Day MACD Oscillator (Buy)
Long Term Indicators Average: 100% (Buy)
100-Day Average Volume - 161,105
the last time i saw a penny play with this caliber of intellectual property was NEOM and that went from like .01 to .20. with the proper excution by management, maybe we can get similar results
KENS online gaming patent is huge! from their 10k:
"On June 10, 2003, the U.S. Patent for the various aspects of wagering on live in-progress casino table games was granted by the U.S. Patent Office to Herbert Lindo, the Inventor and which Patent was assigned by Herbert Lindo to the Company in August 2000. We filed the Patent for approval in fifty-one (51) countries in the industrialized world including Russia and China. There can be no assurances that foreign patents will be issued and the challenges will not be instituted against the validity or enforceability of our..."
now that the feds have paid the way, what is this patent worth? I bet a lot. It will be very interesting to see how this will play out.
Big Leap Forward for Kenilworth Online Technology
Kenilworth Systems Corp. (PINKSHEETS: KENS) today announced the US Government, in a long-awaited announcement at the end of December, removed their legal prohibition to online wagering, essentially stating that they had no objection provided it was done under state regulation. Needless to say, several states have already passed or introduced enabling legislation.
Dan W. Snyder III, President and CEO, said, "With this one announcement, the future of Kenilworth became much brighter. We have significant opportunity inasmuch as Kenilworth owns patents on core technology needed to fully implement several aspects of online wagering. Being able to license our technology in the US potentially doubles the Company's market size, while decreasing the cost of marketing.
"The Company is now accelerating efforts to fund and develop the best and latest online wagering technology, thereby monetizing the patents. Funding is being done thorough an offering of preferred shares in our wholly owned KenSysCo subsidiary, an investment opportunity that is open for qualified Kenilworth shareholders."
And the good news continues: After months of what seems like endless communication between government regulators and our attorneys and transfer agent, Kenilworth's request for approval of the reverse split and share restructuring by the SEC and FINRA agencies is within grasp. We expect to be able to issue the new shares in February.
The laborious task of bringing manual shareholder records up to date and transferring them to the new transfer agent is now complete. It's a great relief that transfers are now in the capable hands of Quicksilver Stock Transfer. QST is a leader in small cap company share transfer documentation and well-respected for their capability and experience with SEC and FINRA compliance.
And staff has now completed the year long process of moving decades old paper accounting records onto a modern software-based accounting system. Led by Treasurer Joyce Clark, Kenilworth staff is to be commended for perseverance and ability.
Mr. Snyder said, "Expect forthcoming announcements regarding our progress in developing state of the art online wagering technology for live sporting events and extending the live casino experience to the latest generation of tablet PCs, iPads, smartphones, Amazon's Kindle tablet, and home theaters worldwide."
FORWARD-LOOKING STATEMENT
The information contained in this Press Announcement includes "forward-looking" statements within the meaning of section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbors created thereby. Such information involves important risks and uncertainties that could significantly affect results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements herein. Future operating results may be adversely affected as a result of a number of factors.
Kenilworth Systems Corporation
Email Contact
SOURCE: Kenilworth Systems Corporation
http://www2.marketwire.com/mw/emailprcntct?id=37CCD52B51A3B7B6
From The Desk Of the President
April 28, 2011
Dear Fellow Shareholder:
While waiting in the Chicago airport for a delayed (yet again!) departure in the midst of a very cold winter,
I was tempted to be discouraged about weather, the economy, and politics. So I made a list of the good
things that were happening. Not surprisingly it was a long list; besides the improving economic picture, a
strong stock market recovery, and the arrival of spring, a real positive is the turnaround of our Kenilworth
Company. I thought that I'd share the Kenilworth part with you.
When our founder Mr. Herb Lindo passed away, I was asked to step into his large shoes and take
Kenilworth forward. It was a daunting task to say the least. But with the terrific help of Kenilworth staff,
capable outside professionals, and you my fellow shareholders, the road ahead is clear and not too steep
Working with outside advisors, your Management team developed a Plan of Reorganization. We quickly
realized that Kenilworth faced challenges in the areas of operations, finance and capital structure and
marketing; and we need to take substantial actions to address them. PR announcements of the several
significant events only hint at what have, in fact, been accomplished, so let me share some specific
challenges and their solutions with you.
The large number Kenilworth (KENS.PK) shareholders - some dating back over 30 years - has required
excessive file space and considerable Staff hours to maintain shareholder records.
Update: Shareholder information is being updated and moved to a fully integrated system at a
new Transfer Agent in preparation for an improvement of Company capital structure.
Information flow to and from Shareholders needs to be consistent and frequent.
Update: When the transition to a new Transfer Agent is complete, each shareholder will be able
to log on to a personal account to view their holdings, update contact information, and send
communications directly to Management. Information flow to shareholders will pass from the
current "send out an announcement" to a system that leverages all of the latest technology and
even the latest social media.
Company financial records and audits need to be brought current and keeping them up to date made less
labor intensive.
Update: Records have been moved to a modern computer based business accounting system;
and we have retained a consulting CFO to prepare for the upcoming audit.
Kenilworth needs to be separated into clearly identifiable operating centers that can pursue projects. This
will facilitate funding for specific projects rather than just selling more restricted shares in Kenilworth and
is a direct path to monetize the Company patents. Importantly, shareholder value can be substantially
improved when these subsidiary companies are later spun-off to Kenilworth shareholders.
Update: KenSysCo Corporation was formed as a wholly-owned Nevada subsidiary to hold the
Company patents and other intellectual property; and to take the lead in marketing the patent
licensing and the planned proprietary gaming technology. KenSysCo will fund itself by selling
non-voting Preferred stock to companies with gaming interests who want to use the Patents and
the new Technology in their operations.Update: KenSysCo has licensed a Caribbean developer of sports books and online casinos to
use the patents and the coming technology. This preliminary agreement will serve as our working
model to move forward
Update: Convergent Networks Inc. was established in Nevada as a wholly-owned subsidiary to
acquire the hardware and software technology needed to exploit the Patents. An outside
technology company is advancing this project and will shortly have provided overall network
architecture and a budget.
To complete the transition to a modern operating company that is fully SEC compliant, Kenilworth will
require minimal, but important, additional funds. Funds should be offered only to existing shareholders
and provide preference and a profitable exit strategy.
Update: The Company will offer cumulative preferred shares that have an attractive coupon rate
and which convert into common stock at a preferred rate; and which will be registered with the
SEC instead of waiting for 6 months under Rule 144.
Management needs to Increase internal capabilities and raise the profile to investors.
Update: Our Management team has expanded considerable and is now comprised of a
distinguished group of individuals with significant experience and exceptional qualifications in
business and project development, technology development, and the gaming industry. Their
experience extends from small cap public company development, finance, engineering, sales,
and marketing; to Fortune 500 companies. Importantly the team includes professionals with world
class credentials and decades of hands-on management experience in large and small scale
hotel and casino operations. The attached brief Management Team Overview tells the story.
So, the discouragement of Winter has yielded to optimism of Spring; with the certain knowledge that
Kenilworth is re-vitalized and destined for a bright future!
On behalf of your Management Team, I thank you for your loyalty and confidence.
Sincerely
Dan W. Snyder
dsnyder@kenilworthsys.com
Attachment: Management Team Overview
KENILWORTH
S Y S T E M S C O R P O R A T I O N MANAGEMENT TEAM OVERVIEW
Dan Snyder, Chairman, President and CEO. Mr. Snyder is the fourth generation of a prominent
Chicago family of engineers, builders, and developers. He is leading the Kenilworth re-vitalization.
Kit Wong, Director and Corporate Secretary. Mr. Wong has served as a Director of Kenilworth from
its inception. A successful entrepreneur and graduate engineer, Kit is pivotal in setting Company policy
and direction.
Joyce Clark, Director, Treasurer and Chief Financial Officer. Ms. Clark has been involved in
Kenilworth since its inception and has been a Director since 1998. As an accountant, Joyce plays an
active role in the management and day to day activities of the company.
Patrick McDevitt, Director. Pat has served as a Director of Kenilworth Systems for several years. His
30 years experience as a stock broker and expertise in small-cap companies provide guidance to the
Board.
David Briones, Consulting Chief Financial Officer. David is the Managing Member of the Brio
Financial Group, a New Jersey boutique accountancy firm with expertise in small-cap public companies.
Mr. Briones, working with Staff, is directing the process of bringing Kenilworth's corporate books into
compliance with Generally Accepted Accounting Principles in preparation for an audit of the years 2005-
2010.
George Hedrick, Executive Vice-President Of Marketing and Development. Mr. Hedrick is a
seasoned marketing and casino management professional with unparalleled expertise in all facets of the
Gaming Industry, including senior management positions at Atlantis Resorts, Mandalay Bay, Harrahs,
and Cesar's Palace.
Jose Betancourt, Executive Vice-President Of Strategic Planning and Development. Mr.
Betancourt, a graduate engineer, brings extensive experience in gaming industry business development.
His employment includes senior positions at Mirage Resorts, The Tropicana Hotel Resort and Casino,
and The Desert Inn.
Gordon Coplein, Patent Counsel. Mr. Coplein, an attorney and graduate electrical engineer leads
Kenilworth's intellectual property team. He is a member of Georgia and New York State Bars, admitted to
practice in various Federal District Courts and Courts of Appeal, as well as the United States Patent and
Trademark Office. He served at the US Patent and Trademark Office as a Patent Examiner, specializing
in the electronic arts including television, facsimile, computers, video recording, and telecommunications.
He has prepared and prosecuted US and foreign patent applications for US and foreign clients in
numerous electronic technologies.
Fredrick Bauman, Securities Counsel. A Harvard Law School graduate, Mr. Bauman is a Las Vegas
based securities attorney and has considerable expertise with the legal needs of small public companies
traded on the OTCBB or OTC Markets, including SEC compliance. Mr. Bauman is licensed to practice
law in the States of Arizona, California, Nevada, New Jersey, New York, Pennsylvania and Texas.
Jeffrey Silver, Gaming Counsel. Mr. Silver is Chairman of the Administrative, Gaming and
Government Affairs Department of Gordon Silver PC, a prominent Las Vegas law firm involved in all
aspects of gaming law. He was Clark County Chief Deputy District Attorney and was in charge of Las
Vegas office for the Nevada State Gaming Control Board. He was Chief Operating Officer and General
Counsel for the Landmark Hotel & Casino, President of the Riviera Hotel & Casino and Sr. Vice President
of Marketing for Caesars Palace. He is authorized to practice law before all Nevada courts, the U.S. Tax
Court, the U.S. District Court for Nevada and the United States Supreme Court.
Form 10-K for KENILWORTH SYSTEMS CORP
Form 10-K for KENILWORTH SYSTEMS CORP
--------------------------------------------------------------------------------
31-Mar-2011
Annual Report
ITEM 7 - MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
The discussion following should be read in conjunction with, and is qualified in its entirety by, the consolidated financial statements and the notes thereto included elsewhere in this Annual Report on Form 10-K.
(A) RESULTS OF OPERATIONS
Since we exited from bankruptcy proceedings on September 28, 1998, we have had no revenues from operations, and therefore sustained losses from general administration expenses amounting to $612,012 in
--------------------------------------------------------------------------------
Table of Contents
2010, $1,054,596 in 2009 and $1,074,193 in 2008. Kenilworth has had no revenues from operations since exiting from Bankruptcy Proceedings in September 1998.
(B) LIQUIDITY AND CAPITAL RESOURCES
Kenilworth has not conducted any new business operations since 1991. At December 31, 2010, 2009 and 2008 we had a deficiency in working capital of $365,022, $318,796 and $302,138 respectively. In Kenilworth's present state of operation to continue a viable business plan, Kenilworth requires little funding. We have been dependant upon the resources of its Chairman and Chief Executive Officer, who receives no compensation, and funds received from private investors, totaling $421,900 in 2010, $1,036,000 in 2009 and $511,000 in 2008. In addition the Company issued restricted Common Stock for services totaling $10,000 for 1,250,000 shares in 2010, $345,000 for 11,500,000 shares in 2009 and $523,565 for 52,355,522 shares in 2008.
Our present plans are to continue to develop a wagering system titled "Roulabette" that would allow patrons all over the industrialized world to view and wager on live casino table games on terminals placed in hotels, resorts, bars and other public gathering places and in homes and offices on personal computers (PC's) or television sets connected to set top boxes and laptop computers Interactive TV via digital satellite and digital cable broadcasts emanating from strictly regulated casinos. At present we do not have sufficient liquidity and capital resources to develop our business or to remain in business and we may never have such resources.
CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND RISK FACTORS
The information contained in this Form 10-K and Kenilworth's other filings with the Securities Exchange Commission contain "forward-looking" statements within the meaning of section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbors created thereby. Such information involves important risks and uncertainties.
Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this Annual Report on this Form 10-K contains statements that are forward-looking, including, but not limited to, statements relating to our business strategy and development activities as well as other capital spending, financing sources, the effects of regulation (including gaming and tax regulations), expectations concerning future operations, margins, profitability and competition. Any statements contained in this Form 10-K that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, in some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "would," "could," "believe," "expect," "anticipate," "estimate," "intend," "plan," "continue" or the negative of these terms or other comparable terminology. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by us. These risks and uncertainties include, but are not limited to, our lack of recent operating history, existing management, general domestic or international economic conditions, pending or future legal proceedings, changes in federal or state tax laws or the administration of such laws, changes in gaming laws or regulations (including the legalization of gaming in certain jurisdictions), applications for licenses and approvals under applicable jurisdictional laws and regulations (including gaming laws and regulations). You should not place undue reliance on any forward-looking statements, which are based only on information currently available to us. We undertake no obligation to publicly release any revisions to such forward-looking statements to reflect events or circumstances after the date of this 10-K report for the year ended December 31, 2010, and subsequent events reported in this FORM 10-K.
--------------------------------------------------------------------------------
Table of Contents
RISK FACTORS
NO OPERATING HISTORY
We have had no new revenues from operations since 1991. We exited from bankruptcy proceedings in 1998 without assets and liabilities. We have had no revenues from operations since then and we may never have any revenues from operations in the future, which may result in the termination of our business.
WE HAVE NO WORKING CAPITAL
As of December 31, 2010 the working capital deficiency of Kenilworth was $365,022. This will not enable Kenilworth to achieve any of its planned operations. There can be no assurances that Kenilworth will again have sufficient working capital to engage in its planned operations. Although we have been able to obtain working capital from investors that purchase Convertible Promissory Notes, Stock Purchase and Options Agreements and by issuing restricted Common Shares for services rendered.
OUR BUSINESS IS ONLY IN THE PLANNING STAGE
Kenilworth's business except for the completion of the $9,000,000 contract with the Totalizator Agency Board of Victoria, Australia, and the revenue from providing encoded access cards to United States and foreign Nuclear Electric Generating Plants, remains in the planning stage. The Company does not receive any income from the live, in-progress Roulette table game from the new Sosua Grand Casino in the Dominican Republic. We plan to engage in the development, manufacturing by subcontractors, and marketing of an operation entitled Roulabette. Roulabette would allow casino patrons and other players to play along from remote locations with live in-progress casino table games such as Roulette, Craps, Baccarat and more via digital satellite and digital cable television and Internet broadcasts (simulcasts) emanating from strictly regulated casinos located in the United States or via the Internet in other locations around the world, to self-sufficient computer terminals dubbed "Roulabette" and digital satellite and cable TV set top boxes, and other computer devices. The Roulabette terminals are a proposal intended to be built and there can be no assurances that it will ever be built. The microprocessors to be installed in the TV set top boxes or attached to TVs have not been designed. We have, as at December 31, 2010, no specific agreements, customers or proposals for any future business and there can be no assurances that we will ever have same.
RAPID CHANGES IN TECHNOLOGY
The technology and Roulabette in general is subject to rapid change. Kenilworth will need to maintain an ongoing research and development effort of which there can be no assurances of success or availability of funds. Additionally, there can be no assurances that the development of technologies and products by competitors will not render the Kenilworth's products or technologies non-competitive or obsolete.
WE ARE ENGAGED IN A HIGHLY COMPETITIVE INDUSTRY
Our business is subject to significant competition. Competition exists from larger companies that possess substantially greater technical, financial, sales and marketing resources that Kenilworth presently possesses. Such competition is expected to increase. Such increased competition may have a material adverse effect on Kenilworth's ability to successfully market its products.
WE WERE GRANTED A PATENT FOR THE VARIOUS ASPECTS OF SIMULCAST WAGERING
On June 10, 2003, the U.S. Patent for the various aspects of wagering on live in-progress casino table games was granted by the U.S. Patent Office to Herbert Lindo, the Inventor and which Patent was assigned by Herbert Lindo to the Company in August 2000. We filed the Patent for approval in fifty-one (51) countries in the industrialized world including Russia and China. There can be no assurances that foreign patents will be issued and the challenges will not be instituted against the validity or enforceability of our
--------------------------------------------------------------------------------
Table of Contents
patent. Herbert Lindo also filed two (2) Patents in the U.S. Patent Offices in September and October 2004 which Patents have been published to use lottery terminals to accept deposits for wagers placed with the TV set top boxes and the use of Play Cards similar to lottery tickets, which have also been assigned to the Company by Herbert Lindo. A Patent Application for Multi-Use Gaming Machines invented by Herbert Lindo and Gordon Coplein, Esq. was published on February 1, 2007 and assigned, by the inventors, to Kenilworth.
OUR ROULABETTE TERMINALS ARE SUBJECT TO VARIOUS FEDERAL, STATE, LOCAL AND FOREIGN JURISDICTION LAWS AND REGULATIONS
The use of the Roulabette System may be subject to various federal, state and local laws and regulations both in the United States and foreign countries. There can be no assurances that we will ever be able to obtain licenses or permits necessary to conduct our business or that we will be able to comply with these applicable laws and regulations.
The Roulabette System is planned to allow casino patrons and other players to play along with live, in-progress casino table games such as Roulette, Craps, Baccarat and more via digital satellite television and digital cable programming emanating from regulated casinos, via the Internet to countries that permit Internet streaming.
OUR OFFICERS AND DIRECTORS WILL HAVE SIGNIFICANT CONTROL OVER US AND MAY APPROVE OR REJECT MATTERS CONTRARY TO A VOTE OF OUR SHAREHOLDERS
Our executive officers and directors together with their affiliates beneficially own a significant percentage of our outstanding common stock. These stockholders, if acting together, will be able to significantly influence all matters requiring approval by our stockholders including the election of directors and the approval of mergers or similar transactions even if the stockholders disagree.
SHARES ELIGIBLE FOR FUTURE SALE COULD CAUSE OUR STOCK PRICE TO FALL
If our stockholders sell substantial amounts of our common stock in the public market, the market price of our common stock would most likely fall. As of December 31, 2010 we had added an additional 90,960,000 of restricted shares of Common Stock outstanding, which are eligible for sale by our Shareholders under new SEC Rule 144 B of the Securities Act of 1933 as amended which reduces the holding period to six (6) months or are otherwise registered for sale
Yay, maybe we'll see it hit a penny by the end of the year, thanks for the info :)
Short Term Indicators
Detailed Opinion Show Signal Strength and Direction Composite Indicators Signal
TrendSpotter Sell
Short Term Indicators
7 Day Average Directional Indicator Buy 10 - 8 Day Moving Average Hilo Channel Buy
20 Day Moving Average vs Price Buy
20 - 50 Day MACD Oscillator Sell
20 Day Bollinger Bands Hold
Short Term Indicators Average: 40% Buy 20-Day Average Volume - 145,005
Kenilworth Systems Corp. expected to report Fiscal Year 2010
Kenilworth Systems Corp. expected to report Fiscal Year 2010 results on March 27, 2011. This event was calculated by Capital IQ (Created on March 21, 2011).
03/21/2011
Kenilworth Systems Corp. expected to report Fiscal Year 2010 results on March 27, 2011. This event was calculated by Capital IQ (Created on March 21, 2011).
Is kens still with CGAQ
Caribbean Casino and Gaming Corp. Announces Big Negotiations in Process
Caribbean Casino & G (USOTC:CGAQ)
Intraday Stock Chart
Today : Wednesday 2 February 2011
Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ) -- A group of VIPs will fly to Costa Rica to discuss all aspects for the Kiosk program. Mr. Swank has gathered a group of people that will visit the software developing operation for the Kiosks in Costa Rica; they will discuss the best way to distribute this ground braking technology and how to make it global. This meeting will open the possibility for the company to enter the global gaming industry.
Mr. Swank, CEO, stated, "This technology is something that can be placed anywhere that gambling is legal, it can be setup in any language or place in the world." As for the group going to visit Costa Rica he also stated, "These people have been in the gaming industry for years. Their point of view and knowledge on strategic ways to distribute the Kiosks around the world is something that is invaluable."
The 24 hour 7 days a week slot parlor that will be CGAQ's 3rd operation in the Dominican Republic, in the city of Puerto Plata, is starting construction and it's scheduled to start operating very soon. Also the Luperon Bay Casino has been tweaked in order to lower over head and increase significantly all profits. The Sousa Bay Grand Casino has seen an increase of 25% the amount of players; this has had a very positive impact on revenues.
On this matter Mr. Swank stated, "I am very happy to see the company grow this way, we are working very hard to make our goal in CGAQ (becoming the leading gaming and entertainment company in the Caribbean) a reality." Mr. Swank also stated, "Selling stock does not help the company or investors; buying stock enables the company to build the base so we all make money in the near future. We are on track to make this happen."
More progress reports on all the topics will be posted as they progress; CGAQ is making all necessary changes in the company in order to boost revenues and meet all goals in the near future.
About Caribbean Casino and Gaming Corp.:
Caribbean Casino and Gaming Corp. (PINKSHEETS: CGAQ) is the owner and operator of the Sosua Bay Grand Casino, Afterone Disco, the Luperon Bay Casino and Galactica Disco. The corporation is focused on becoming a leader in the Caribbean for gaming and entertainment, including live betting from cameras located above tables within the Sosua Bay Grand Casino. Not only will Caribbean Casino and Gaming Corp. offer world class gaming and accommodations within its facilities for those visiting our properties, but also allow patrons to wager (where allowed) from the comfort of their own home or hotel room. The casino is now the centerpiece in the Sosua Bay Resort at Puerto Plata, Dominican Republic, the most populated Caribbean Island
Kenilworth Systems Signs Caribbean Venture
MINEOLA, NY--(Marketwire - 12/15/10) - Kenilworth Systems Corp. (Pinksheets:KENS - News) today announced a significant agreement to advance the Company's international expansion.
Dan W. Snyder III, President and CEO, said, "I'm pleased to report today that our international subsidiary, KenSysCo International Ltd., has entered into a definitive agreement with Platinum Gaming Ltd, located in the Commonwealth of Dominica, West Indies.
"Platinum's principals are well positioned within the governmental and business structure of the Organization of Eastern Caribbean States and have an excellent grasp of both regulatory and business opportunities unique to the region. So we are pleased to announce Platinum as our exclusive regional partner for the countries within the OECS.
"For providing technology including patents to Platinum Gaming, KenSysCo will receive a 10% equity interest in Platinum, plus 5% of the net income from licensed gaming operators introduced and sub-licensed by Platinum. Platinum will have responsible charge of sub-licensing, regulatory compliance, and financial settlement."
Managing Director of Platinum, Lennox Lawrence, Esq, stated, "We appreciate the opportunity to deploy KenSysCo's advanced technology in many suitable gaming operations in the Eastern Caribbean."
Kenilworth Systems Corporation is an integrated technology corporation with intellectual property assets and technical capabilities in the live online gaming sector. The Company is based in Mineola, New York. KenSysCo International Ltd is a unit of Kenilworth's subsidiary KenSysCo Corporation. The international unit conducts operations related to use of the Kenilworth patents by licensed gaming operators outside of the USA.
CGAQ uses KENS technology to run their "Live" on-line betting and their new Kiosks.
I assume that this company uses Kens system to run all this?
Kiosk Gaming System Is Ready for Production
MIAMI, FL--(Marketwire - 11/30/10) - Caribbean Casino and Gaming Corp. (Pinksheets:CGAQ - News) announced today that the company's proprietary Kiosk Gaming System has completed testing and is ready for production. The system, which looks like a slot machine but offers almost all casino games while being integrated into the casino's Live Video Gaming system, will be distributed throughout convenience stores, bars and restaurants.
CEO, Steven Swank, commented, "We are filling the niche for gaming entertainment across all levels from physical locations to the Live Video Internet and now the physical outlets within the mass market."
The system has created over $450,000 in advance orders since the basic prototype was unveiled. As manufacturing of the advanced product is in process, the company expects to sell an additional one million dollars in kiosks and will receive royalties on all gaming action from each machine after distribution. Sales are expected to grow further after the first distribution cycle.
Mr. Swank continued, "Receiving royalties on all the machines that we sell is similar to becoming the McDonalds franchise of the gaming industry without having to absorb the overhead of a physical location."
More importantly, How will KENS stock react on Friday or Monday?
How will feds react to NJ online gambling?
Earlier today I reported that New Jersey’s Senate has passed a bill legalizing and regulating intrastate (and international) online gambling. It seems likely that the bill will become law before the end of the year. As soon as I had posted the article, I found myself wondering how the federal government would respond.
Though the current administration hasn’t taken a clear stance on online gambling, for years the federal government has been against it. In 2006, the passage of UIGEA served as a de facto ban on internet gambling. Though the law doesn’t actually make online gambling illegal, that hasn’t stopped the Department of Justice from treating online gambling like a crime and prosecuting the “offenders.”
With that in mind, how would the federal government react to a state passing a law to legalize and regulate an activity that in their minds (incorrectly) is illegal by federal law? Legally, the federal government has no authority over any state laws that do not involve interstate commerce or violate the U.S. Constitution. Neither is the case here. Though the feds have no jurisdiction over New Jersey’s legislation, that didn’t stop the DOJ from interfering with Arizona’s completely legal immigration law. The DOJ filed a lawsuit to stop the law from taking effect, claiming that because it mirrors current federal law, it would interfere with the federal government’s ability to enforce their own law. That of course is ridiculous, because there are hundreds of state and local laws that mirror federal laws and the whole reason Arizona had to pass their own immigration law is because the feds weren’t enforcing their own.
The federal government also unconstitutionally stepped in when Arizona decided to require someone seeking in-state (reduced) tuition at a college to prove they are a U.S. citizen as well as an Arizona resident. They have done the same in other states in many different situations. I would not be the least bit surprised if the federal government seeks an injunction against the New Jersey online gambling law on the grounds that it violates federal law. Just as Arizona’s immigration law is a rebuke of federal immigration enforcement, New Jersey’s online gambling law would rebuff UIGEA. Despite the lack of constitutional standing to do so, it is entirely within the character of the feds to step in.
All of that would be problem enough if New Jersey was only allowing intrastate online gambling. However, the bill would also allow people from overseas to play at the Atlantic City online casinos. That opens up a whole new set of problems, because the law would then involve international commerce. The federal government does not have exclusive right to regulate international trade, but only they are allowed to sign treaties with foreign bodies. The Constitution prohibits states from signing any such treaties. Therefore, groups like the World Trade Organization cannot deal with New Jersey in an official capacity. The WTO currently has trade agreements with the federal government, but that would not apply to New Jersey’s online gambling industry, because it would not be governed by the U.S. government.
What all of this means is that if New Jersey does pass a law regulating online gambling, that won’t be the end of challenges from anti-gambling sectors. Instead, it will be the beginning of a whole new debate about the sovereignty of the state of New Jersey.
NJ Senate passes online gambling bill
November 23rd, 2010 It pains me to say this, but it looks like New Jersey will the first state to accomplish something in America. It looks like they will be the first to legalize and regulate online gambling. Yes, folks, the same state that brings us Snooki and the Situation, the same state that is responsible for Bon Jovi, may be a trendsetter. That is a state that the Giants and Jets are so ashamed of that they go by New York even though they play in the Meadowlands.
On Monday, the New Jersey Senate voted 29-5 to let Atlantic City casinos offer online gambling to residents of the Garden State. Now that the bill has passed the state Senate, it still has to pass the state Assembly and be signed by the governor. Since Governor Christie has been outspoken about saving jobs in Atlantic City and getting the government out of people’s personal lives (such as how they spend their money), it is likely that he will sign the bill. Even if he is not a proponent of online gambling (he does not seem to have taken a stance on the subject), I would be shocked if he vetoed the legislation. It now seems likely that the bill will become law this year.
Aside from giving New Jersey residents the freedom to gamble online, the bill would also increase revenue to the state by levying a 15% tax on gross gaming revenue. The bill only allows Atlantic City casinos to operate the internet gambling websites. Interestingly, though, people overseas would be able to gamble at the websites. Residents of the other 49 U.S. states, however, could not.
Senator Raymond Lesniak, who sponsored the bill, says that by passing the law and allowing international gaming in New Jersey, they would be “showing how juvenile our federal government’s policy is with regards to gaming.” He also pointed out that the federal government’s current policy towards online gambling is ineffective and also “unconstitutional and quite frankly just dumb in terms of governmental policy.” I couldn’t have said it better myself.
if so i didn't see it...
maybe with drew it......
ceo died a few ago.
I think they are still working on it...
KENS - Isn't there a R/S coming? Was that ever approved?
From the 10-Q on Nov. 15th 2010
shares outstanding
644,426,586 -2010 Sept 30
617,201,586 -2010 June 30
502,956,586 -2009 Sept 30 Last year this time.
D
Please verify at:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7415022
i wonder what share count will go to spinoff shareholders?
i hope i qualify and others here.
now barney franks get'er done now fer we gamblers.
re;
Kenilworth Systems Corporation Reorganizes
Kenilworth today announced a major corporate restructuring designed to focus the Company's efforts on its core business and maximize shareholder value.
Dan W. Snyder III, President and CEO, said that "The Directors have approved a plan that will break Kenilworth into three companies, each with a well defined area of business. To advance this plan Kenilworth has formed two new subsidiaries."
A new wholly owned subsidiary, KenSysCo Corp, holds and operates Kenilworth's intellectual property assets such as the Company's live-gaming patents and other patents pending. KenSysCo will conduct all operations related to use of the patents in licensed casinos outside of the USA.
It is the intention to rapidly develop this subsidiary; then spin it out to existing Kenilworth shareholders in early 2011 as a publicly traded company.
A second wholly owned subsidiary, Convergent Networks, Inc. was formed to continue and greatly expand Kenilworth's application of broadband technology in the gaming sector, as well as the broadcast media to support these operations.
This subsidiary also intends to acquire companies in the rapidly expanding digital convergence and social networking segments. Mr. Snyder indicated that Kenilworth will likely also spin out this new subsidiary to existing shareholders of Kenilworth in early 2011.
Kenilworth Systems Corporation is an integrated technology corporation with intellectual property assets and technical capabilities in the live online gaming sector. The Company is based in Mineola, New York
so kens just gets royalties? and cgaq partner gets almost all of da take?
yes...the newly formed sub is related to going int'l...
in previous news kens said will spinoff newly form sub...
R u in this one mick?
is your ticker close to kens of late?
Kennilworth Systems) could be worth as much as $2.5 Bill
MIAMI, FL--(Marketwire - 11/10/10) - Caribbean Casino and Gaming Corp. (Pinksheets:CGAQ - News) has commenced a due diligence effort upon its own company in order to understand and better communicate the stock market's recent reaction to positive growth without debt. In so doing, a number of articles from third party companies were found which will help investors understand the value and charts involved with CGAQ stock. The following information gathered by CGAQ should help new investors understand the true valuation the company has and should be reflected by the stock during the course of the next 12 months.
CEO Steven Swank stated, "Occasionally, the stock market reacts to any individual stock as if it were a pony in a horse race. This is evident by the recent market capitalization of our debt free company that is growing exponentially within one year of its grand opening. We offered the 3 for 2 stock conversion to minimize supply of the stock and reward long term investors while deterring mal intent of stock manipulation by day traders. We have considered taking the company private once again but understand that the current pricing will not benefit the long term investors or should I say partners who have helped make us a success."
On May 26, 2009 the share value of CGAQ shares soared to a record intraday price of $1.05 cents per share. The share price was based solely upon the intrinsic value placed upon the objectives and business model created by CEO Steven Swank previous to the start of its fiscal operations. Thereafter, an article released by www.stockreads.com on June 27, 2009 pronounced, "We think CGAQ can be a monster in the making... The deal announced on June 12, 2009 (Kennilworth Systems) could be worth as much as $2.5 Billion in revenue to CGAQ over the life of the deal... If CGAQ does as well as we expect, the stockholders should trade North of $2.00 per share."
Mr. Swank continued, "As an entrepreneur, I certainly understand speculation. However, reaching levels of $1.05 per share previous to the fiscal start of operations only to reach new lows while all milestones have been completed or are in place, while the evolution of our kiosk systems have commenced, makes me wonder who real investors are. I'm personally buying back as much stock as I can, as is the company."
On October 24, 2009 CGAQ opened its doors to the public at its Sosua Bay Grand Casino and the start of an empire had become reality. In less than a single quarter, CGAQ was nearly profitable less the tax deductions taken to ensure value to shareholders. As CGAQ gained momentum, with clients and revenues, the value to investors became apparent. Based on an annualized estimate of book value with a share price of $0.07, CGAQ estimated the book value would be approximately $0.2135 as opposed to its current price per share of $0.01. The estimate was based upon expected tangible assets and did not include the intrinsic value of its Live Video Internet Gaming Division licensed in 52 countries or the manufacturing and distribution rights to its revolutionary kiosk system which has currently taken in preliminary orders of over $450,000 of pre-production sales. Further, the estimate did not include the intrinsic value once associated with the operations of CGAQ's realm and diversity within the gaming industry throughout the International Arena, its leadership in boxing events which have been aired on ESPN Deportes throughout the world, its celebrity entertainers and its current casino acquisitions.
Kenilworth Systems Expands Internationally
Kenilworth Systems Corp. (PINKSHEETS: KENS) today announced a significant step forward in the corporate restructuring designed to focus the Company's efforts to maximize shareholder value.
Dan W. Snyder III, President and CEO, said, "I am pleased to report that the management team has made significant progress in implementing the plan approved by the Directors only a few weeks ago."
"The Company has successfully completed the formation of subsidiary KenSysCo International Ltd. in Antigua, West Indies. Antigua, long known as one of the best regulated international gaming countries in the world, is the ideal location for KenSysCo International to aggressively market the Kenilworth technology," Snyder noted.
"KenSysCo International is to conduct all operations related to use of the Kenilworth patents by licensed gaming operators outside of the USA. This move provides a significant opportunity to follow up on the interest expressed by substantial casino and online gaming operators in the Caribbean, Central America and Around The World."
Kenilworth Systems Corporation is an integrated technology corporation with intellectual property assets and technical capabilities in the live online gaming sector. The Company is based in Mineola, New York.
FORWARD-LOOKING STATEMENTS
The information contained in this Press Announcement includes "forward-looking" statements within the meaning of section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbors created thereby. Such information involves important risks and uncertainties that could significantly affect results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements herein. Future operating results may be adversely affected as a result of a number of factors.
Contact:
Kenilworth Systems Corporation
Email Contact
SOURCE: Kenilworth Systems Corporation
http://www2.marketwire.com/mw/emailprcntct?id=12AA68DDF1560F5F
November 12, 2010
expected to report Q3 2010 results on November 12, 2010
Kenilworth Systems Corporation Reorganizes
("Kenilworth") today announced a major corporate restructuring designed to focus the Company's efforts on its core business and maximize shareholder value.
Dan W. Snyder III, President and CEO, said that "The Directors have approved a plan that will break Kenilworth into three companies, each with a well defined area of business. To advance this plan Kenilworth has formed two new subsidiaries."
A new wholly owned subsidiary, KenSysCo Corp, holds and operates Kenilworth's intellectual property assets such as the Company's live-gaming patents and other patents pending. KenSysCo will conduct all operations related to use of the patents in licensed casinos outside of the USA. It is the intention to rapidly develop this subsidiary; then spin it out to existing Kenilworth shareholders in early 2011 as a publicly traded company.
A second wholly owned subsidiary, Convergent Networks, Inc. was formed to continue and greatly expand Kenilworth's application of broadband technology in the gaming sector, as well as the broadcast media to support these operations. This subsidiary also intends to acquire companies in the rapidly expanding digital convergence and social networking segments. Mr. Snyder indicated that Kenilworth will likely also spin out this new subsidiary to existing shareholders of Kenilworth in early 2011.
Kenilworth Systems Corporation is an integrated technology corporation with intellectual property assets and technical capabilities in the live online gaming sector. The Company is based in Mineola, New York
Kenilworth Systems Corp
expected to report Q3 2010 results on November 12, 2010. This event was calculated by Capital IQ (Created on August 28, 2010).
Followers
|
15
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
483
|
Created
|
07/17/07
|
Type
|
Free
|
Moderators |
|
KENILWORTH SYSTEMS CORPORATION AND SUBSIDIARIES
Contact Information | Business Description |
Kenilworth Systems Corp. 185 Willis Avenue Suite #4 Mineola, NY 11501 http://www.kenilworthsystemscorporation.com
|
|
|
Kenilworth in Active Negotiations with Investors Providing $30 million for Dutch Auction
A Financial Consultant, engaged by the Company, has been in active negotiations with a group of potential investors that are interested in providing the funding for the Dutch Auction, Subject to obtaining an underwriter and approval by the SEC.
SUMMARY OF PROPOSED BRIDGE LOAN/UNDERWRITING THAT EARNS $50 MILLIION IN A SECURED INVESTMENT
Kenilworth is soliciting a $230,000,000 bridge loan that requires only $30,000,000 in actual cash that will be repaid in a proposed underwriting later this year.
The $30,000,000 will be deposited in an escrow account controlled and administered by the bridge loan lender. The incentive for the lender is a $50,000,000 profit by purchasing 200,000,000 shares of Kenilworth Common Stock, par value $0.01 per share at $0.05 per share ($10,000,000) directly from the Company that is not required to be evidenced or deposited in escrow, and the purchase of 200,000,000 Common Shares in a proposed Dutch Auction, conducted on behalf of the bridge lenders, at a maximum offering price of $0.15 per share that will require the $30 million. The lenders profits are earned by acquiring 400,000,000 Common Shares that are sold in the underwriting at $35.00 per share, after @ 100-1 reverse split that is part of the underwriting, for a net profit of $50,000,000. The other $200,000,000 required for the bridge loan is deferred and cancelled when the proceeds from the underwriting are disbursed.
After the reverse split and underwriting there will be 8,900,036 Common Shares outstanding that include the 6,571,428 Common Shares at $35.00 per share ($0.35 before the reverse split) sold in the underwriting.
After adjusting for the purchase of 400,000,000 shares pre-reverse split by the bridge loan lenders, the cancellation of the additional non-issued funding of $200,000,000 and the $10,000,000 for the purchase of the 200,000,000 shares of Common Stock directly from the Company, Kenilworth will receive, net of all expenses, including underwriters, legal fees and printing costs, $117,000,000. On a pro forma balance sheet basis, Kenilworth Common Shares, the only shares outstanding, will have a book value of $13.14 per share with 8,900,036 shares outstanding (after the 100-1 reverse split) plus $35,000,000 tax carry forward loss per share of $3.93 which will equal $17.07 with cash of $117,000,000. In addition to the potential future business, it supports a proposed stock offering price of $35.00 per share ($0.35 before the reverse split).
An additional $10,000,000 will be available to Kenilworth if, in the Dutch Auction, the maximum price paid for shares averages $0.10 per share. There are 490,036,586 shares outstanding as at June 30, 2009 with options to acquire additional shares at an average per share price of $0.01 per share totaling 132,409,500 shares. Many of our shareholders that hold options to acquire additional shares at an average price of $0.01 will tender the shares they own now and exercise their options with the proceeds.
The bridge loan documents will contain a clause similar to a Material-Adverse-Change-Clause that will permit the cancellation of the bridge loan. Kenilworth will pay the twelve percent (12%) interest on the loan from the date the escrow deposit is made for the Dutch Auction in the event the Company fails to obtain a firm underwriting commitment or is unable to receive sufficient buyers in a best effort commitment. The fees payable to the escrow agent will be paid by Kenilworth.
Roulabette DEMO
Subscribers to digital satellite and digital cable television and broadband Internet in the United States and other industrialized countries of the world will soon be able to bet as they watch live, in-progress casino table game action on their television screens. Viewers will be able to wager exactly as if they were in the casino playing at the table.
http://www.kenilworthsystemscorporation.com/media/RouletteVideo360x200.mov
KENS CHART
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |