VANCOUVER, British Columbia — Poker.com Inc. (OTCBB:PKER – News) announced today that the Company has entered into a letter of intent to purchase a provisional patent application and all the assets in relation to a skill based system of online gaming which includes the games of Skill Poker and Skill BlackJack from Blue Diamond International Capital Inc. of Switzerland. The acquisition is subject to the parties entering into a definitive agreement and to Poker.com receiving confirmation that the provisional patent is for a skill based gaming system.
Pursuant to the proposed acquisition, on closing, Poker.com Inc. would pay US$50,000 and issue 3,000,000 common shares to Blue Diamond International Capital Inc. In addition, the Company would pay, until 2099, the greater of US$3,500 per month or 4% of the network maintenance fees earned by the Company from operating games using the provisional patent technology.
The provisional patent application filed with the United States Patent and Trademark Office covers a system of determining the skill level in a tournament setting for many different card games including all forms of poker. Poker.com Inc. will acquire ownership of all materials in relation to the games of Skill Poker and Skill Blackjack, in addition to the domain names SkillPoker.com, SkillBlackjack.com, SkillOmaha.com, SkillHoldem.com and SkillStud.com.
Currently, most online gaming operators are located in offshore jurisdictions in order to avoid U.S. gaming laws. In relation to processing credit card transactions for online gaming, up to 30% of all gambling related credit card transactions are denied as banks will not honor illegal gaming debts. Poker.com Inc. intends to operate an online poker IDN Poker card room based in the U.S. and expects universal acceptance by banks engaging in credit card transactions with little or no deposit rejection.
Poker.com plans to use the concepts in the provisional patent to develop the software to enable it to operate its own skill based online poker card rooms to market directly to players in the United States, Canada and worldwide. Once developed, Poker.com Inc.’s poker card room will be the only online system of gaming …