Show all filings for POKER COM INC | Request a Trial to NEW EDGAR Online Pro
Form
8-K for
POKER COM INC
7-Jun-2004
Other Events
Item 5. OTHER EVENTSLegalPlay Entertainment Inc. (OTCBB: LPLE) announced today that following arecent meeting of the board of directors and management, it was determined thatthe current strategy in relation to the Company's gaming operations is notproviding sufficient results to build significant shareholder value. The Companyhas ascertained that competition in online gaming is extremely competitive anduntil such time that legislation is passed in the United States, the Skill Pokersystem will not be a popular choice for the online gaming consumer. LegalPlayEntertainment Inc. is seeking alternatives for its Skill Poker subsidiaryincluding the possibility of divesting the company to a large gaming operatorand will continue to operate the system until such time that a transaction isconcluded.
Considering the rise in the demand and price for many industrial commodities,management and the board concluded that the Company should focus on a strategyto build shareholder value through the acquisition and development of undervalued mineral assets with near term development potential.
With this new strategy in mind, the Company has begun discussions with respectto the acquisition of mineral properties or the participation in joint ventureswith a number of parties. Currently, the Company is considering mineralproperties with a focus on base metal commodities such as gold, silver andplatinum / palladium. The Company intends to form a board of advisors to overseethe new direction and is currently discussing the strategy with a number ofexperienced mining executives.
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