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Discussion in 'OPA General Discussion' started by Yanni, Jul 5, 2001.

    Jul 5, 2001
  1. Yanni

    Yanni Guest

    In view of Microgamings new "openess" please get them to issue a press release disputing the following allegation (Im sure it will take them a matter of minutes especailly as they have publically stated how customer friendly they now are) A simple we refute this statement will suffice, unless of course its true.....

    The final straw came when the companys relationship with the OPA was destroyed based upon its decision to follow Microgamings adamant demands that no money be paid directly to the OPA. Tropika had already made a commitment to the OPA but rescinded that on the premise that Microgaming was in a control position and they were expected to support the decision
  2. Jul 5, 2001
  3. steve

    steve Guest

    I never heard anything about that. Where is that a quote from?

    I doubt Microgaming would have done anything to get in the way of a settlement with players.
  4. Jul 5, 2001
  5. Yanni

    Yanni Guest

    well they are now player friendly so it will be a matter of minutes for them to put this simple matter to bed
  6. Jul 5, 2001
  7. Casinomeister

    Casinomeister Forum Cheermeister Staff Member

    Hey Yanni!

    I just wanted to say welcome back! I'm glad to see you're posting again...your input has always been welcome here.

    Yes, where is the new and improved Microgaming? They are our friends now! :)

    And like what Steve said, where did this come from?

  8. Jul 5, 2001
  9. Yanni

    Yanni Guest

    From: ""Tropika International""
    To: "" ""
    Subject: Repositioning Of Organization Creates Clear Focus
    Date sent: Sun, 01 Jul 2001 20:39:55 -0400

    Placement Addresses Working Capital Requirements

    TORONTO, Canada - June 27, 2001 - John Ashbee, Chairman and CEO of Tropika
    International Limited, today announced the implementation of a strategic
    repositioning and corporate branding program as a result of significant business
    changes within its investments and subsidiaries.

    Simultaneously, working capital needs are expected to be resolved with todays
    announcement of a private placement resulting in the issuance of up to
    10,000,000 common shares of the company at a price of $0.05 per share resulting
    in up to $500,000 in cash. The company has applied to CDNX for approval of this
    arms length placement and will update the market immediately following their

    Mr. Ashbee stated the changes we are announcing today are a result of a full
    organizational review conducted over the last 5 months. These changes, when
    complete will see the organization focused on businesses in which we have strong
    intellectual property, assets and where a niche opportunity exists.

    The customer service area of the company, operating as APS Marketing (100%
    owned) will be renamed Itecx Online Inc. and will focus on providing
    infrastructure and support to all types of Internet businesses including the
    Internet casino industry. This company has a new management team and
    streamlined operations resulting in a 50% reduction in monthly overheads
    indicates Mr. David Prue, Sr.Vice President. The services will include:

    24-hour service and technical support;
    Marketing strategies/fulfillment;
    Search Engine Optimization;
    E-mail management
    Anti-fraud services
    Server hosting
    Database management
    Payment Exchange/Settlement

    Signature Credit Card, the companys anti-fraud division (100% owned) will be
    renamed Itecx Integrity Solutions and is positioned squarely in the credit card
    and debit card fraud prevention sector of the Internet. The initial market of
    Internet casinos has already been penetrated and the service is suited to any
    vendor that accepts payment on the Internet. The company is heavily focused on
    the ever-increasing debit card fraud issue and utilizes its comprehensive
    databases that have been accumulated over the last 3 years.

    Both of the above companies will be combined into one operating unit in the
    coming year. During this period the Tropika Board of Directors will continue to
    actively pursue transitioning this business to a reporting issuer status in
    order to create a new public entity within the Tropika group.

    Online Commerce Inc, a subsidiary of Tropikas, has until today, been an
    operator of Internet casinos including the flagship Fairplay Casino. Industry
    factors including credit card processing costs/availability, charge back costs,
    competition, regulatory concerns and banking have made the operation of Internet
    Casinos less attractive as an investment focus.

    Mr. Ashbee indicated, the risks associated with revenue derived from the
    operation of Internet casinos are increasing greatly. Random Number Generator
    discrepancies (the software determining house margins supplied by Microgaming)
    and legal issues within the North American marketplace are becoming too
    uncertain. The soured relationship between Online Commerce and Microgaming (also
    known as XXYX of Switzerland) has deteriorated based upon unresolved payout
    discrepancies. These hurdles make the decision of the Tropika Board not to
    increase its investment in this subsidiary a prudent protection of shareholder

    To that end Mr. Ashbee is announcing that effective today, Online Commerce Inc
    will cease being a casino operator. The existing casinos will be deactivated
    however the company plans to recapture some of its investment by selling the
    brands and utilizing the databases in the near future. The final straw came when
    the companys relationship with the OPA was destroyed based upon its decision to
    follow Microgamings adamant demands that no money be paid directly to the OPA.
    Tropika had already made a commitment to the OPA but rescinded that on the
    premise that Microgaming was in a control position and they were expected to
    support the decision.

    Mr. Prue indicated that we have noted Mircogamings comments with regard to
    payouts and contracts but we will defer to our solicitors advise with respect to

    Mr. Prue further indicates the organization will be without revenue for the
    next 60 days but post transition, net income and margins will be greater, more
    stable and without the risk of gaming variability. The company is in the process
    of negotiating service contracts intended to replace the top line revenue in the
    near term. The reduction of the total corporate expenses to $80,000 per month
    has been achieved in order to make this transition.

    The Customer Relationship Management (CRM) application currently named
    Websandwich (100% owned) will be renamed as E-Interaction Plus. Websandwich has
    been involved in ongoing discussions with various divisions of the Bell
    organization but is yet to receive confirmation of when marketing budget will be
    available for launch. Based upon these ongoing delays, and with the capital now
    available Websandwich will undertake direct and aggressive marketing internally
    targeting ISPs and professional organizations. Websandwich has a 12-month
    target of 1,000 clients representing $100,000 in net monthly recurring

    The previous business model of RC Securities Limited (and renamed Itecx
    Technology Limited) will be replaced with the newer business to business (B2B)
    model. This new division will be named Itecx Trading Limited and will be based
    upon new back end software and system configurations. This model provides
    infrastructure to banks and trust company as well as smaller brokerages. While
    the marketing target is the offshore world, the company will be capable of
    providing gateways to any client anywhere in the world. With working capital now
    available, this upgraded product is scheduled for launch in the fall of this

    The above changes will result in the elimination of the companys complex
    offshore structure originally intended to minimize tax liability by utilizing
    reciprocal Revenue Canada tax agreements. This structure, while sound in its
    nature, has contributed to regulatory concerns with respect to transparency. The
    elimination of this structure should address these issues as well as improve
    operational efficiency and is the clearest example of the overall restructuring.
    These changes will be available on the company website and the exact structural
    changes will be provided to shareholders in this years annual report. according
    to Mr. Prue.

    The Tropika Board of Directors has indicated that it will seek shareholder
    approval to change the name of the company from Tropika International Limited to
    Itecx Global Solutions, as part of its clear branding strategy, at the companys
    next shareholders meeting. The companys new logo and brand identify will be
    unveiled in the coming weeks. The Board also wishes to re-confirm that it has no
    current plans to consolidate the outstanding share in the company.

    In conjunction with these changes, the companys website www.tropika.com is in
    the process of being redesigned and updated and may be off line for a period of
    time to remain compliant with dissemination guidelines of the Ontario Securities
  10. Jul 6, 2001
  11. spearmaster

    spearmaster RIP Ted

    Devil's Advocate
    Tropika, first of all, rescinded that copy of the press release, presumably because it was inaccurate.

    Secondly, despite my contacts with Microgaming, I highly doubt that they will respond to that mud-slinging by Tropika.
  12. Jul 6, 2001
  13. jetset

    jetset RIP Brian CAG

    Senior Partner, InfoPowa News Service
    I can confirm that - I've been monitoring the Tropika investors message boards and this was a typical Tropika administrative screw-up - they issued the wrong draft of the press release from what I can see and then had to publish a note to that effect on the stock exchange notice board.

    Maybe that's what Ashbee the chairman thinks, but he's been blaming everyone except himself for the mess his company is in and I doubt this is true.
  14. Jul 6, 2001
  15. Yanni

    Yanni Guest

    well its hardly mud slinging get Microgaming to simply deny it then we will know

    Or has their new found open door policy suddenly slammed shut? (the first test of their openess and they run away?)

    put up or shut Spearmaster
  16. Jul 6, 2001
  17. spearmaster

    spearmaster RIP Ted

    Devil's Advocate
    Don't give me this put up or shut up shit, Yanni. I make no claims on Microgaming's behalf, and I do not work for them. I am not under any obligation to do your bidding or anyone else's, including Microgaming.

    Now go back to the hole you crawled out of.
  18. Jul 6, 2001
  19. kengam

    kengam Dormant account

    I agree with Spear. It is not fair to put him in the middle of everything involving Microgaming. Just because he has contacts with them does not obligate him to satisfy every player's concerns.
  20. Jul 6, 2001
  21. Yanni

    Yanni Guest

    ok I see you have a selective memory I will take it they did indeed say not to cooperate with the OPA, I just thought you had contacts there no need to take offence, but I will read between the lines
  22. Jul 6, 2001
  23. Casinomeister

    Casinomeister Forum Cheermeister Staff Member

    Hey Yanni,

    I think it was the "put up or shut (up)" comment that implies the receiver has some sort of obligation. Not so.

    Spearmaster, like myself, have been involved in this industry in one form or another for some time and thus we know people. It's not like we have an obligation to these people, but we can act as a conduit between the players and the industry. This is what Spearmaster has been doing.

  24. Jul 6, 2001
  25. Yanni

    Yanni Guest

    yes but as I say he appears to jump to their defence all the time and when I ask for what must be a very simple request he gets insulting you only have to look at theis recent post over at the ALIOnline message board and you will see what I mean ;

    You win and you still dare to title this post this way?

    Max - please remove this post and warn this person that this type of bull**** will not be tolerated.

  26. Jul 6, 2001
  27. Yanni

    Yanni Guest

    was my simple request for Microgaming to deny this allegation from Tropika over the top?
    I thought any Journalist would only be to happy to help, maybe I was wrong and will now have to look at him in a different light, i actually liked him before and as mentioned have taken his advice in the past, but I suppose people change, how sad.
  28. Jul 6, 2001
  29. spearmaster

    spearmaster RIP Ted

    Devil's Advocate
    Enough already, Yanni... er... Hitmob. Stop stirring the shit.
  30. Jul 6, 2001
  31. spearmaster

    spearmaster RIP Ted

    Devil's Advocate
    Hey! A four-letter word got through LOL...
  32. Jul 6, 2001
  33. Spearmaster its a software fault which kicks in whenever a sentence uses the word Hitmob it allows you to use un red dotted words
  34. Jul 6, 2001
  35. spearmaster

    spearmaster RIP Ted

    Devil's Advocate
    LMAO ... except it was the PREVIOUS sentence that contained the word Hitmob...
  36. Jul 6, 2001
  37. Ted fancy a shag Im bored?
  38. Jul 6, 2001
  39. spearmaster

    spearmaster RIP Ted

    Devil's Advocate
    You're just lucky I can't do my Hangman trick here.

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