TORONTO, Feb 07, 2007 /PRNewswire-FirstCall via COMTEX/ -- WagerPhone Inc. - WP - (www.wagerphone.com) a wholly owned Subsidiary of New Wave Mobile Inc. - NWWM - has received a Letter of Intent from a Major National Lottery for the utilization of their Lottery Platform to provide extensible channels for ticket sales and distribution.
After several months of discussions, basic terms were agreed upon with a National Lottery for the expansion of their existing lottery services via the incorporation of WP's extensible points of sale. The Lotto's immediate interest was in respect of WP's ability to sell their largest numbers and scratch card games via SMS (Text Message) and on the Web.
Marc Askenasi, President of WP states: "We are very happy to receive such a positive reception to our products and services. We will spend the next several weeks working with our client to achieve all their goals and eliminate many of their existing operative pain points. This collaborative approach will result in a WagerPhone solution that will provide new points of sale at next to no incremental cost, increase distribution, and reach new demographics while increasing their overall revenue and profit margins."
WP caters to conventional paper ticket lotteries that are looking to offer new points of sale for existing brands and games or that are looking to offer a new stand alone lottery games enabled via the utilization of SMS (Text Message), Interactive Voice Recognition (IVR), Mobile Applications (J2ME/Brew/WAP), and Online platforms.
WP also offers a variety of other products, for use in both product distribution and promotion, including games that can be played for fun, real money, credits, talk time minutes, etc. These games include: 1) Lottery & numbers; 2) Instant win & scratch cards; 3) Blackjack; 4) Slots; and 5) A Sports book.
New Wave Mobile currently has 137,000,000 restricted and 117,000,000 free trading shares for a total of 254,000,000 and the transfer agent is transfer Online of Portland Oregon.
