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National League Of Poker Acquired by Power Play Development (PWPY.pk)
National League Of Poker Acquired by Power Play Development (PWPY.pk).
About this update from Quality Industrial Corp.
[{"type":"text","content":"NLOP, Inc. is acquired by Publicly Traded Power Play Development Corp., Ticker Symbol: \"PWPY\"\r\n\r\nNational League of Poker management to assume control over the public company and consolidate operations\r\nFRAMINGHAM, MA- (October 23, 2006) -- Power Play Development Corp. [OTC: PWPY.PK ] has entered into a Share Exchange & Acquisition Agreement with NLOP, Inc., a privately held Delaware corporation based in Framingham, MA. The Boards of Directors and a majority of shareholders of both Power Play and NLOP approved the terms of the Share Exchange & Acquisition Agreement. As part of the plan of acquisition, NLOP, Inc. will continue to operate as a wholly owned subsidiary, with its management assuming control over the public company. The Company will continue to trade on OTC Pink\r\nsheets under the ticker symbol: \"PWPY\". \r\nNLOP, Inc. is a software, marketing, sweepstakes, and online games company. NLOP has developed CUPIDTM a proprietary software platform that enables the company to offer robust and unique advergaming solutions. The company currently operates two brands, The National League of Poker (www.nlop.com), the leading US-compliant fantasy poker web portal, and Poker Creations, (www.pokercreations.com) its software marketing and promotion division. Miller Beer and its Milwaukee's Best Light brand selected Poker Creations to operate and manage the entire logistics of its national online poker promotion (http://poker.milbestlight.com), extending Milwaukee's Best Light title sponsorship of The World Series of Poker.\r\n\r\n\"We felt there was an immediate opportunity for growth in our market\", stated Alan Miller Chairman of the Board of NLOP. \" Congress passed the Unlawful Internet Gambling Enforcement Act earlier this month and that has dramatically changed the online poker landscape, and brought the demand for a US-legal compliant online poker alternative forward exponentially\", \"We believe that NLOP will be in a stronger position to gain mass-market exposure as a publicly-traded company.\"\r\n\r\nDuring the month of September, the NLOP network recognized over 30,000 new registrations, administered over 15 million minutes of poker-play, averaged 55 minute poker sessions, and delivered over 50 million ad impressions to site users.\r\nSafe Harbor Statement\r\nThis press release contains forward-looking statements ...