UB Software Provider Out - The Merry-go-round continues

[fleece_me]

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Excapsa to Sell Assets, Scrap Listing on U.S. Gaming Crackdown

By Keith Campbell

Oct. 12 (Bloomberg) -- Excapsa Software Inc., whose products run gambling Web sites, said it will sell its operating assets, becoming the latest company to withdraw from U.S. online gaming after Congress cracked down on the industry.


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Make no mistake about this or any other public company "ceasing to do business" in the United States. What is happening is the founders of these companies are re-purchasing the entities that they took public at inflated prices. In this case, Russ Hamilton, Phil H, et all.

The same thing happened with Leisure and Gaming (the VIP Group) and is potentially happening with Sportingbet and WWTS.

The people getting absolutely brutalized here are the shareholders.

It is very sad because the truth of the matter is that all these enterprises were already illegal. Why in the fcsck do they think they were operating in third world countries to begin with? lol.

Very sad fleecing being delivered to shareholders and the people that made the founders of these companies rich. The founders are going to keep getting rich and the shareholders get brutalized.

Link to Bloomberg article

The only good thing to come of this is we can humor ourselves at the names of the entities re-buying what they already sold at deflated prices. In this case, it is "Blast Off Ltd. of Malta.". Not sure if this is a quickie they rushed through to get incorporated or what.