BETM..$0.70
Be careful to the MOMO push going around.. Read back DD on this company where it recently hocked the whole company at 20% interest for a week and gave wt's to the funder to boot.. I posted the following yesterday and thought nothing of it at the time.. I was lucky as I made sales today all the way up and it turned a rather dismal day into a nice winner,, Was long 46K at less than $0.18.. Made sales of ALL at $0.50+ AVE.. hank
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BLOOD MONEY...???
Unregistered Sale of Equity Securities.
Secured Promissory Note
On June 11, 2010, American Wagering, Inc. (the “Company”) entered into a secured promissory note in the principal amount of $195,000 (the “Note”) in favor of Alpine Advisors LLC (“Alpine”). The maturity date of the Note is June 17, 2010 (the “Maturity Date”), and the unpaid principal balance of the Note will bear interest at an annual rate of 15% through the Maturity Date. If the principal amount of this Note is not paid on the Maturity Date, the outstanding principal amount of the Note shall bear interest from the Maturity Date until paid in full at the annual rate of 22.0% and shall be payable on demand or, in the absence of a demand, weekly, on the first business day of each week.
The Company’s obligations under the Note are secured by a pledge of: (i) the Company’s equity interests in Computerized Bookmaking Systems, Inc.; (ii) all shares of stock, certificates, instruments or other documents evidencing or representing the same; and (iii) all present and future payments, proceeds, dividends, distributions, instruments, compensation, property, assets, interests and rights in connection with or related to any of the foregoing.
Warrant
In consideration of the Note, the Company issued a warrant, dated June 11, 2010 (the “Warrant”), to Alpine for the purchase of 600,000 shares of the Company’s common stock at an exercise price of $0.22 per share. The Warrant was issued in reliance on Section 4(2) and Regulation D of the Securities Act of 1933, as amended.
Subject to adjustment as provided in the Warrant, the holder of the Warrant will be entitled to acquire from the Company, in whole or in part, up to an aggregate of 600,000 fully paid and nonassessable shares of the Company’s common stock. The Warrant is exercisable, in whole or in part by the holder, at any time until 5:00 p.m., Pacific Standard Time, June 11, 2015.
The Company also granted to Alpine demand registration rights on or after June 11, 2012 and piggy-back registration rights with respect to the Company’s common stock issued or issuable to Alpine with respect to the Warrant.
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Posted by: 10 bagger
In reply to: None Date:9/1/2010 12:20:51 AM
Post #13 of 18
BETM.. $0.19
American Wagering Launches Legal Sports Betting Application for BlackBerry® Users in Nevada
American Wagering, Inc.: (OTC Bulletin Board: BETM), the North American leader in sports wagering products, announced today that its wholly owned subsidiary, LEROY'S SPORTSBOOKS (LEROY'S), launches its mobile phone sports betting application, simply named the LEROY'S® APP©, and it will be available beginning this football season for Research In Motion (RIM) BlackBerry® users to legally bet on sports anywhere in the state of Nevada on their BlackBerry® mobile phones. The LEROY'S® APP© was developed with LEROY'S® sister company, Computerized Bookmaking Systems, Inc. (CBS), and with the help of BlackBerry's Sports division.
The Nevada Gaming Control Board recently approved the LEROY'S® APP©, and it is currently available to BlackBerry® users on Sprint, AT&T, and T-Mobile, with other wireless carriers coming soon.
"The company spent more than a year planning and developing the new application," according to John English, Senior Vice President and spokesperson of the product for Las Vegas-based American Wagering, Inc. "The Nevada Gaming Control Board scrutinized the project with a very thorough lab investigation, which helped us in setting the bar for our security features. We have developed the first mobile phone betting application to be approved in Nevada. We feel strongly that the application will change the way people bet on sports. Convenience is critical in today's society," says English.
"LEROY'S® APP© will offer the same array of sports bets including, straight bets, parlays, teasers, in game betting, contests, scores, and more," stated Vic Salerno, the company's Chief Executive Officer. "We plan to unveil new, state of the art technologies in the coming months such as applications for the iPhone®, Droid®, and Windows-based mobile phones. We also plan to add our race book and unique fantasy sports features. We are making sports betting simple and fun. Everyone has a mobile phone. With the LEROY'S® APP©, if you want to place a sports bet sitting at a poker table, go ahead. No need to check out any special equipment. You are not limited to where in the casino you can make your bet. Oh, you want to go home, go back to the office, or maybe you live in Reno, Lake Tahoe, Winnemucca, or Elko; no worries, you can make your bets there too. The LEROY'S® APP© goes with you on your BlackBerry®. That is the beauty of our product. It's real mobile wagering," added Salerno.
ABOUT AMERICAN WAGERING, INC.:
American Wagering, Inc. (www.americanwagering.com) is a publicly-traded company that primarily operates through wholly-owned subsidiaries including Leroy's Horse & Sports Place, Inc. ("LEROY'S®") (www.leroys.com), Computerized Bookmaking Systems, Inc. ("CBS"), AWI Manufacturing, Inc. ("AWIM"), and AWI Gaming, Inc. ("AWIG"). LEROY'S® 'owns and operates over 58 race/sports book outlets in the state of Nevada, CBS is the dominant supplier of sports wagering hardware/software to the Nevada gaming industry, and AWIM is a Nevada Gaming Commission-licensed manufacturer/distributor and supplier of race/sports self-service wagering kiosks. AWIG is a subsidiary with the goal of becoming a market leader in operating smaller hotel/casino properties.
Safe Harbor Statement
This release contains "forward-looking statements" based on current expectations but involving known and unknown risks and uncertainties, such as statements relating to anticipated future sales or the timing thereof; the long-term growth and prospects of our business or any jurisdiction; the duration or effects of unfavorable economic conditions which may reduce our product sales; and the long term potential of the mobile sports wagering device application market and the ability of American Wagering, Inc. to capitalize on any such growth opportunities. Actual results or achievements may be materially different from those expressed or implied. American Wagering, Inc.'s plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions, the timing and its ability to consummate, acquisitions, and future business decisions and other risks and uncertainties identified in Part I-Item 1A, "Risk Factors" of the Company's Form 10-K for the period ended January 31, 2010, all of which are difficult or impossible to predict accurately and many of which are beyond its control. Therefore, there can be no assurance that any forward-looking statement will prove to be accurate.
Research In Motion (RIM) is authorizing the use of its trademarks in this specific press release only. RIM's limited approval is not a license, implied or otherwise, to its trademarks or any other intellectual property rights. Notwithstanding this limited approval, RIM reserves all rights with respect to its intellectual property."
Contact: John English, 1-702-735-5529
SOURCE American Wagering, Inc.
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