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Archive for July, 2006

July 31st, 2006

Racino Royale Granted Federal Approval

Racino Royale, Inc. (“RR”) has confirmed that the Canadian Pari-Mutuel
Agency (CPMA) has granted the company’s racing permit. This was the last
hurdle RR had to go over before racing could commence at Big Valley Raceway
in Craven, Saskatchewan this Sunday, July 23, 2006. Since early June, RR has
been working towards insuring that harness racing could commence in Craven
by the end of July in order to provide the region’s horsemen with five
consecutive months of racing. Now, with the support of the Saskatchewan
Standardbred Horsemen’s Association (SSHA), regulatory approval from both
the Saskatchewan Liquor and Gaming Authority and the CPMA, the Big Valley
Raceway site in Craven, Saskatchewan will once again feature harness racing.
RR announced last month that it had acquired the exclusive rights agreement
for a racino development opportunity in Regina, Saskatchewan, with the SSHA.
In short measure, the company has been steadily taking steps to secure a
foothold in the Saskatchewan racing industry with that goal in mind, however
this first step to revive racing in Craven is an indication of RR’s overall
commitment to harness racing in the region. “We are very excited about
opening day this Sunday,” said John G. Simmonds, CEO of RR. “While a small
location, Craven represents what this industry is all about: A love for
harness racing. We’re looking to build on that foundation, and this weekend
is just the beginning.”

Post at 8:09 pm UTC by Jerry

Littlefield Corporation Announces New CFO

Littlefield Corporation (OTCBB:LTFD) announces that Richard S. Chilinski has
accepted the position of Chief Financial Officer of Littlefield Corporation
effective Monday, July 31, 2006. Rich is an experienced and seasoned
financial professional with thirty years of related work experience spanning
public accounting, manufacturing, services, consulting and high technology.
He has held financial analysis, estimating, strategic planning, controller,
chief financial officer and vice president of finance positions in
established companies and startups. He has worked for such prestigious
companies as Peat Marwick, Bausch & Lomb, IBM and Baker Hughes. He is
experienced in public company issues having fairly recently been the Senior
Vice President and CFO of a public company with direct experience in taking
the company public, SEC reporting, stock options, shareholder communications
and investor relations.
In addition to the usual expected disciplines of finance, accounting,
treasury, budgeting, forecasting, management and regulatory reporting and
tax planning, Rich is experienced in information technology, human
relations, incentive compensation, mergers, acquisitions, capital
transactions and due diligence.

Rich holds a BA from St John Fisher College and an MBA in Finance and
Accounting from the William E Simon Graduate School of Business of the
University of Rochester. He was formerly a Certified Public Accountant in
New York and will become registered as a CPA in Texas as a condition of his
employment.

Jeffrey L. Minch, President and Chief Executive Officer of Littlefield
Corporation, offered the following comments:

“Rich Chilinski is a seasoned and experienced leader and finance
professional who will be a welcome addition to our Company. He is a solid
businessman.

He has a wealth of experience which will be valuable to the Company
immediately and in the future. He has demonstrated strengths in areas from
which the Company will immediately benefit. He also represents a significant
addition to the Company’s day to day management continuity, capability and
depth.

Rich will provide a strong foundation for the Company’s continued growth and
his ability to perform at a consistently high level will provide certainty
at a critical time in the Company’s history.”

Post at 6:03 am UTC by Jerry

Lasseters Offers Vacation

Lasseters Online Online, the first ever online gambling site to be
government licensed and regulated, is running a competition where one new
player and their companion will win a $15,000 vacation to Australia. Only
players who have never previously played at Lasseters Online will qualify
for the competition. Existing players however are urged to invite their
friends to play at Lasseters.com as the may be the lucky companion to jet
off to Australia for the vacation of a lifetime. Lasseters made history
seven years ago when they became the first online casino to be licensed and
regulated by a recognized land based gambling authority. Today, the casino
is well know to be one of the safest places to play casino games online, as
it has to comply with the strictest regulatory guidelines of any online
gambling site. But this is not the only reason to play at Lasseters. The
casino has stuck to its strategy of developing in-house online casino games,
unlike most other sites that license a games platform from a third party.
The result is a completely unique gambling experience, with some of the best
video slots online. Lasseters especially extend an invitation to previously
registered users who have not made a deposit, as their is now more incentive
than ever to do so. Combine this competition with a five times 100% up to
$100 deposit bonus, and there should be little reason for hesitation.
The Australian Adventure competition closes on August 31, 2006. Said Andrew
Housego, marketing executive at Lasseters Online, “The majority of
competitions conducted on the Internet attain many thousands of entries with
no requirements for entry, offering all concerned a very remote chance of
winning. However, as players are required to make a deposit of $50 or more
to qualify for this competition, the number of entrants is restricted to
serious players, representing tremendous odds for those who take the
opportunity to enter.”

To earn your chance to win the Australian Adventure of a Lifetime, simply
visit Lasseters, register for cash play and make a deposit of US$50 or more.
Terms and Conditions apply and can be viewed at the New Player Promotions
page. In addition to this amazing competition, Lasseters also offers its new
players a 100% bonus up to US$100 on each of their first 5 deposits.

Post at 6:02 am UTC by Jerry

July 30th, 2006

Jacobs Reports Executive Appointments

Jacobs Entertainment, Inc. (JEI), an owner and operator of multiple gaming
properties, today announced that Ms. Teri Grandfield has joined JEI as Vice
President of Northern Nevada Operations. Ms. Grandfield is an industry
veteran and will be responsible for overseeing JEI’s three Nevada
properties: the Gold Dust West-Reno, the Gold Dust West-Elko and the Pinon
Plaza in Carson City, which is JEI’s latest acquisition. JEI also announced
that Mr. Mike Hachquet has joined the Company as General Manager of the Gold
Dust West-Elko. Mr. Hachquet is a long-time Elko resident and brings a great
deal of experience in the casino industry. He was formerly with the Red Lion
Hotel and Casino in Elko. Additionally, Lynne Keller has accepted the
position as General Manager for the Pinon Plaza in Carson City. Ms. Keller,
a 30-year industry veteran, was previously General Manager of Gold Dust
West-Reno.

Post at 3:28 am UTC by Jerry

Caesars Celebrates 40th Anniversary

On Wednesday, August 2, Caesars Palace will celebrate its 40th anniversary
with a toga party at the legendary resort’s outdoor Roman Plaza
amphitheater. This historical event will be hosted by actress Jenny McCarthy
and feature a live performance by Otis Day and the Knights, the band that
rocked “Shout” during the toga party scene in National Lampoon’s Animal
House. Following the musical set, toga-clad partygoers will be invited to an
after party at PURE Nightclub. Guests who arrive in a toga* will be granted
free admission to both the outdoor concert, sponsored by VEGAS Magazine and
Hendrix Electric Vodka, and the after party at PURE. Doors to the outdoor
concert open at 7:30pm and PURE will open at 10pm. When Caesars Palace
opened its doors on August 5, 1966 the standard of luxury and magnificence
for the hotel and casino industry was changed forever. Its opulent
Roman-Grecian world of fantasy captured international attention as the first
deluxe themed resort casino if its kind. With imported marble statuary,
cocktail servers costumed as “goddesses,” a dining experience fit for
royalty and nightly performances by the world’s greatest entertainers,
Caesars Palace immediately became the industry standard for the ultimate
luxury resort experience. Forty years later, Caesars Palace has expanded to
almost five times its original capacity. The 85-acre resort features 3,340
guest rooms and suites, the largest poker room in the city, a world-class
health and beauty salon and a 4.5 acre pool and garden complex, two dozen
restaurants and the world renowned Forum Shops at Caesars. In March 2003
Caesars Palace opened its 4,100-seat Colosseum spotlighting international
performers Celine Dion, Elton John, and Jerry Seinfeld. The Roman Plaza, a
4,000-seat outdoor amphitheatre plays hosts to a variety of outdoor sporting
events, concerts and private functions.

Post at 3:27 am UTC by Jerry

EARNINGS: Harrah’s is Off the Mark

Harrah’s Entertainment has realized that building a worldwide casino
operation is going to play havoc on earnings. The gaming industry’s largest
casino operator said Thursday its second-quarter earnings were affected by
development costs and other factors related to growing a company with both
domestic and international interests. Revenue for Harrah’s rose 67 percent
in the quarter that ended June 30 to $2.47 billion, compared with $1.42
billion a year ago. In the 2005 second quarter, revenue was collected for
just 17 days from the casinos Harrah’s acquired when it spent $9 billion for
Caesars Entertainment. Harrah’s said its net income in the quarter was $129
million, or 69 cents a share, up 22 percent from $106 million, or 65 cents a
share, in the same period a year ago. When earnings per share were adjusted
to account for various costs, the company earned 95 cents a share, up from
86 cents a share a year ago. Analysts polled by Thomson First Call thought
Harrah’s would earn $1.02 per share in the quarter. Harrah’s Chief Financial
Officer Charles Atwood said the company bought back and refinanced $750
million in debt during the quarter, which affected its income statement.
Harrah’s had $18 million in development and master planning expenses in the
quarter. A year ago, that figure was $7 million.
The lower per-share earnings were also affected by an increase in the number
of shares outstanding resulting from stock issued for the Caesars
acquisition.

Shares of Harrah’s closed at $60.36, down $3.49 or 5.47 percent, on the New
York Stock Exchange. On May 10, Harrah’s shares were $83.33.

“We believe the sell-off in Harrah’s is a knee-jerk reaction to an earnings
per share miss,” Stifel, Nicolaus Capital Markets gaming analyst Steven
Wieczynski said in a note to investors. “On a relative basis, we believe
Harrah’s shares are now undervalued and we would accumulate shares at this
level, all else being equal.”

Harrah’s report, which followed earnings announced this week by Station
Casinos and Boyd Gaming Corp., caused Goldman Sachs gaming analyst Steven
Kent to issue a cautious note about the gaming industry.

“As the third major operator to disappoint this quarter, it is looking
increasingly likely that it may be a difficult quarter across the board for
major U.S. gaming operators,” Kent wrote in a note to investors.

Harrah’s Chairman Gary Loveman, however, said the company’s 11 casinos in
Las Vegas and Atlantic City had a robust quarter.

In Las Vegas, Harrah’s casinos, including the five casinos acquired in the
past year, had revenue of $803.3 million, a 154.1 percent increase from
$316.1 million a year ago. Revenue in the quarter from Harrah’s Atlantic
City casinos, two of which were acquired from Caesars, was $521 million, up
101.2 percent from $259 million a year ago.

In a conference call with analysts, Harrah’s executives said the recent
72-hour closure of Atlantic City’s casinos by the state over budgetary
matters will cost the company between 4 cents and 6 cents per share when
third-quarter revenue is announced.

“Our healthy, broad-based growth in the second quarter demonstrates that our
overall operations remain strong,” Loveman said.

Loveman said integrating the Caesars’ properties into Harrah’s corporate
structure brought $118 million in cost savings over the first year of
ownership. The company had originally predicted it would realize $80 million
in saving after buying Caesars.

Loveman cautioned investors that master-planning for future Harrah’s growth
will have some implications.

“During the quarter we incurred higher project development and master
planning costs,” Loveman said. Harrah’s is working on development
opportunities domestically in Rhode Island and overseas in the Bahamas,
Spain and Slovenia.

Harrah’s has three days to decide if it will bid on a second gaming site in
Singapore. The company lost a bid for the city-state’s first casino site in
the downtown Marina Bay district but is still exploring its options for
Sentosa Island with its Singapore-based partner, Keppel Land.

“We’re still evaluating our position there and we have a few more days to
decide,” Atwood said. “We figure we’ll use all those days to make a
decision.”

Atwood said Harrah’s would still like to expand to Macau, the Chinese gaming
enclave where Las Vegas Sands, Wynn Resorts and MGM Mirage are building
large hotel-casinos.

The company’s main development focus domestically, Atwood said, will be
master-planning its real estate holdings in Las Vegas, Atlantic City and
Biloxi, Miss.

In Las Vegas, Harrah’s has 130 acres of land on the east side of the Strip,
which includes the Imperial Palace, Flamingo, Harrah’s Las Vegas, Bally’s,
Paris Las Vegas and several nongaming parcels. Atwood said the company is
working on a master plan for the land that would involve an overall strategy
where customers could easily visit all of Harrah’s casinos.

“We want to remove all the physical barriers,” Atwood said. “We look at Las
Vegas from an overall picture, that we offer people a comprehensive
experience at many of our properties.”

This week’s announcement by Boyd Gaming that Coast Casinos founder Michael
Gaughan would be leaving the company and acquiring the South Coast fueled
some speculation that Harrah’s would try to purchase the Barbary Coast, a
former Coast Casinos property now owned by Boyd Gaming.

The small Barbary Coast sits at the corner of Flamingo Road and the Strip,
in the heart of Harrah’s casino empire.

“We aren’t shy about our desire for the Barbary,” Atwood said.

Post at 3:26 am UTC by Jerry

July 29th, 2006

Skybook Adds LiveHive NanoGaming Solution

LiveHive Systems today announced that Skybook is enhancing its current
in-game betting offering with the LiveHive NanoGaming Solution in time for
the 2006 National Football League (NFL) season. Last season, Skybook rolled
out a competitive in-game betting product to its customers and found that
bettors were thoroughly captivated by the ability to wager on every play. By
upgrading to the LiveHive solution, Skybook will be launching the next
generation of NanoGaming that provides faster odds generation and longer
betting windows with no software downloads required, resulting in a better
overall wagering experience. “At Skybook we quickly realized the power of
in-game betting during last year’s NFL season and thoroughly believe that
NanoGaming is the next phase in sports wagering,” said Keith Anderson,
General Manager, Skybook. “The LiveHive NanoGaming Solution is the only
system that can manage the complexities associated with instant odds
generation, short betting windows and over 400 betting opportunities per
game.”

The LiveHive NanoGaming Solution is a complete turnkey system that enables
online sportsbooks to offer smaller and frequent “NanoWagering”
opportunities to their customers as the action is taking place during any
live sporting event, reality TV show, or live broadcast such as award shows
or elections. Online sportsbooks are deploying the product now for the NFL
season. NCAA Football, NCAA and NBA Basketball, European Soccer, ATP Tennis,
and Major League Baseball games will be offered over the coming months.

This spring, customers enjoyed placing NanoWagers during the Survivor
reality TV series. This year, NanoGaming will be offered on a number of
other Reality TV programs including: American Idol, The Apprentice, Big
Brother, and The Bachelor.

HivePoint, a wholly owned subsidiary of LiveHive Systems will be launching
its Speed of Sport website, a NanoGaming play for fun site in time for the
NFL preseason. Says Dave Bullock, President, LiveHive Systems, “Speed of
Sport provides sports enthusiasts with a fun, free way to play along as the
action unfolds.”

Post at 8:05 am UTC by Jerry

It’s Called No-Limit For a Reason

When poker’s ultimate champion is crowned on Aug. 10, the 2006 version of
the World Series of Poker will have broken every conceivable record since
the tournament was developed 37 years ago in a smoky downtown poker room at
Binion’s Horseshoe. In the following months, Jeffrey Pollock will be busy
planning to break all those marks again in 2007. But the other goal for
Pollack, commissioner of the Harrah’s Entertainment-owned World Series of
Poker, is to make the 6-week-long event at the Rio more accommodating to the
legions of poker-viewing fans. “I think we can do a better job of elevating
the quality of the spectator experience by making the tournament room more
user friendly,” said Pollack, who is also Harrah’s vice president of sports
and entertainment marketing. The attendance at professional poker’s
signature event will see a marketable increase starting today. The opening
round of the $10,000 buy-in No-limit Texas Hold’em World Championship event
will kick off at noon.

Through Monday, up to 2,000 players a day will play until 800 remain after
each session. On Tuesday and Wednesday, the 3,200 surviving players will
compete until 1,400 are left.

After a one-day break, the 1,400 remaining competitors will play on a daily
basis beginning Aug. 4 until nine remain for the final table.

Two weeks after it all begins, the ultimate champion will take home at least
$10.5 million, a figure that will increase as the number of tournament
entries grows.

Harrah’s is anticipating close to 8,000 entries in the world championship
event. As of Thursday afternoon, more than 7,500 players had signed up to
participate.

The Rio’s makeshift tournament poker room in its convention center can
accommodate up to 2,000 players per session, which is the reason for the
four-day opening round.

Without a card having been dealt in the championship event, this year’s
World Series of Poker has already rewritten the record book.

With 38 of the planned 45 events already completed, almost 36,000 players
have competed, topping the more than 32,000 that participated in all 45
events last year. In 2005, a record $106 million was paid out in prize
money. So far, $73 million in prize money has been awarded with seven events
left to be played. As of Thursday, the main event had a prize pool of $72
million.

The main event is already the tournament’s largest field ever. Last year,
5,619 players entered and each of the final nine players won at least $1
million. Australian Joseph Hachem captured a record $7.5 million for his
championship run, a figure already certain to be eclipsed.

“That’s really kind of mind-boggling when you think about it,” said Hachem,
who is planning to try and win a second straight world poker championship,
although he knows the odds are long.

“I’m a realist. With 8,000 players, I know the field is full of land mines,”
Hachem said. “When you’re the champion, people are always gunning for you.”

While the main event will draw a crowd, the Rio’s four-day Gaming Life Expo,
adjacent to the World Series of Poker tournament room, is also expected to
attract gambling fans.

Poker patrons can visit 235 booths and 23,000 square feet of retail that
includes poker products, apparel, jewelry, and other items. The expo is free
and open to the public, age 21 and over.

“This is my first time going through the World Series of Poker,” said
Pollack, who joined Harrah’s at the conclusion of last year’s event. Pollack
had previously spent five years in a marketing role with auto racing giant
NASCAR.

“The World Series of Poker is a charmed, rich and colorful event,” Pollack
said. “The headlines this year have had some wonderful stories.”

The tournament began at the end of June and the games have produced several
history-making moments:

-1989 world poker champion Phil Hellmuth won his 10th bracelet, matching
Doyle Brunson and Johnny Chan for the most World Series event wins in the
tournament’s history.

-21-year-old University of California, Santa Barbara film student Jeff
Madsen became the youngest person to win a bracelet at the World Series of
Poker, when he captured a $2,000 buy-in No-limit Texas Hold’em event. About
a week later, he won a second bracelet, taking first place in a $5,000
buy-in Short-handed No-limit Texas Hold’em event.

Madsen, who made three final tables in the tournament for two first place
finishes and a third place win, will return to college with more than $1.4
million in winnings.

- 80-year-old Kuei Chi Chang, who had never played tournament poker prior
until this year’s World Series of Poker, finished in the money twice in a
matter of days. The Las Vegas resident finished 52nd out of 1,068 players in
one event and 42nd out of 415 in another.

“What’s happened so far proves the fact that for an amateur player, dreams
can come true, and for a poker professional, you can make history,” Pollack
said.

Post at 8:05 am UTC by Jerry

Get Ready for the 2006 WSOP Main Event

Screw the white picket fence, forget about the little house in the country,
and leave the 2.5 kids at home – winning the World Series of Poker Main
Event is officially the new American Dream and if you’re going to take home
the $10 million, you better leave soon. Honestly, I haven’t been this
excited about a sporting event since the Red Sox won the World Series in
2004. This year’s Main Event is going to be something special and just
thinking about it makes me giddy. My only regret leading up to the largest
land-based poker tournament ever played – I wish I had been even close to
good enough at poker to qualify for the thing. Seeing that a.) It’s too late
for me to qualify, and b.) You don’t really care to hear my woeful lamenting
or bad-beat stories, let me give you a few insightful nuggets about how to
enjoy poker’s biggest week.

1.) Throw a Big Old Party

The problem with the Superbowl is that it only happens once a year. In fact,
all the major party events – New Year’s Eve, Cinco de Mayo, July 4th and
General Ulysses S. Grant’s birthday – happen only once a year. That’s why
there’s so many of these things, because people like to party. So why not
throw the Main Event final table in there? The thing is on pay-per-view.
Order it, grab a keg, invite some friends over, and have a little home game
party. Your neighbors will thank you.

2.) Pick More than One Player to Cheer For

This sport isn’t like baseball or football, you’re not a bad person if you
cheer for more than one “team.” That has it advantages. Let’s say you’re
stuck cheering for a team like the Chicago Cubs. Year after year, your
loyalty is rewarded with heartbreak and misery. In poker, it’s an acceptable
“man law” to have a couple favorites and in all honesty, the volatility of
tournament poker makes it likely that your favorite player is no longer
involved when the final table comes around. My suggestion: Cheer for a guy
named Phil. Chances are someone with that name will go deep.

3.) Follow the Action on the Internet

If you’re like most poker fans, the Internet has cost you buckets of money.
Therefore, you might as well take advantage of that medium in some way,
mainly through the variety of sites offering live updates, feature stories,
and even play-by-play Podcasts. Not that I’m biased, but Casino City has the
best World Series of Poker feature coverage, including live reporting on the
first day and each of the last four days.

The reason the 2006 WSOP Main Event is so appealing is size of the
tournament and the massive amount of money in the prize pool. While many
poker aficionados claim that thousands of players are bad for poker because
they increase the amount of luck required; I completely disagree.

I say the bigger the tournament, the better. It’s American. Supersize me,
XXXL, presidents wearing 10-gallon cowboy hats – we like things big here in
the states so make the field 10,000 people and we’ll all be happy.

There was a time when televised poker was one of those shows where you’d be
flipping by the channel and think to yourself.this might be worth watching.
Now, it’s simply must-see-TV.

Fortunately, I’ll be at the actual event covering each exciting moment live
for Casino City Press (HAHA your job sucks), but if I wasn’t going to be in
Vegas, you bet your last chip I’d be paying whatever it costs to see the
final table live on pay-per-view.

No, ESPN is not paying me to say this. I’m serious. I believe the World
Series of Poker Main Event has taken on the significance of the Superbowl,
the World Cup, or even the United State Curling Championship.this thing’s
going to be huge.

Here’s what it’s going to look like.

1.) Around 8,000 players will compete for the WSOP No-Limit Hold’em World
Championship bracelet. There are so many people clamoring to get in this
thing, they may seat up to 500 alternates per day.

2.) The event will start with four “heats.” Each day, WSOP officials will
seat 2,000-2,500 people and play until only 800 people remain. Once it’s
down to 2400 players, WSOP officials will hold another two heats, this time
with 1600 players each day, played down to 700. From there the players will
combine into one field and play down to a winner.

3.) Every professional you’ve ever heard of will be playing in this one,
plus a whole bunch of great players you’ve never seen before.

4.) Phil Hellmuth predicts around 500 competitors will be under the age of
24, meaning more than 1/8 of the field will have a chance to break his
record of the “youngest player to ever win the Main Event.” It remains to be
seen if Hellmuth is correct, but either way, this promises to be one of the
youngest fields in recent memory.

5.) The final table will air on pay-per-view August 10th at 12 p.m. PST.
Additionally, Phil Hellmuth will be hosting a radio broadcast live from the
final table. It should be a very interesting show, especially if he makes
the final table.

Post at 8:03 am UTC by Jerry

Littlefield Names New Senior VP

Littlefield Corporation announces that Michael J. Lindley has accepted the
position of Senior Vice President – Director of Capital Transactions. He
will assume his new duties in mid-August. In this position, Mike will be
directly responsible for acquisitions, capital transactions related to
raising debt and equity for acquisitions and institutional investor
relations. Cecil Whitmore, Financial Analyst, will continue to oversee
investor relations for the Company’s “retail” shareholders. These duties
will entail identifying current bingo hall owners in targeted states,
establishing contact and communicating the Company’s acquisition strategy.
Mike will oversee the acquisition process including coordinating due
diligence efforts. He will also be responsible for communicating the
Company’s acquisition strategy to likely sources of project and balance
sheet financing in support of acquisitions. In addition, he will be
responsible for communicating the Company’s story to current and prospective
institutional shareholders in particular micro/small cap mutual funds and
hedge funds.
Lindley is well-qualified for this new position having worked on Wall Street
for Merrill Lynch in investment banking and having worked for a number of
years in a similar position (with Jeff Minch who was the President and CEO
of that company) in the commercial real estate business. Most recently Mike
has been in a similar position with a public company in the advertising
specialty industry.

Mike was the President and Chairman of a private company employing a novel
technology driven strategy in the advertising specialty business. Most
recently, he has been involved in merchant and investment banking with
Austin-based Focus Strategies.

Lindley, 41, brings a wealth of acquisitions, capital transactions,
investment banking and operational experience to his new position. He and
Jeff Minch worked together for a number of years in the real estate
business.

Lindley is a graduate of the University of Texas and holds a bachelors
degree in Finance.

Jeffrey L. Minch, President and Chief Executive Officer of Littlefield
Corporation, offered the following comments:

“Mike Lindley is a smart, hardworking professional who will invigorate our
acquisition program. His experience and the Company’s current portfolio of
acquisition opportunities will result in a more rapid identification,
negotiation and closing of suitable acquisitions.

We enjoyed an excellent and profitable working relationship in the past and
I am confident that he will be a great addition to our team providing
energy, expertise and enthusiasm at a critical time in the Company’s
history.

His investment banking background and knowledge of the investment business
will be a valuable addition to our team.

His experience as a President and CEO will provide additional management
depth to the Company.”

Post at 8:03 am UTC by Jerry