LAS VEGAS, NV–(Marketwire – May 31, 2011) – World Series of Golf, Inc. (PINKSHEETS: WSGF) (OTCQB: WSGF) today announced entering into negotiations to acquire a technology service firm with approximately $20 million in annual sales. Last week senior management and key stakeholders met to discuss an update to the Company’s current business strategy. As an outcome of the meetings, World Series of Golf expects to immediately begin developing a parallel strategy to develop separate information technology and entertainment assets rather than continuing with the development of a single integrated information technology and entertainment asset. World Series of Golf management and stakeholders met last week with the technology service firm referenced in today’s headline. Management of both World Series of Golf and the technology service firm agree a potential mutual benefit could be realized by the World Series of Golf acquiring the technology service firm. The acquisition would be intended to prioritize and accelerate the development of a World Series of Golf information technology asset.
About World Series of Golf, Inc.
Based in Las Vegas, World Series of Golf (www.worldseriesofgolf.com) is currently a global sports and entertainment company whose activities include land-based and virtual, skill-based golf events featuring a patent-protected method of play. For additional information, visit the company’s website at www.worldseriesofgolf.com.
Statements made in this news release may be forward-looking statements within the meaning of Federal Securities laws that are subject to certain risks and uncertainties and involve factors that may cause actual results to differ materially from those projected or suggested. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to: (1) the availability of additional funds to enable us to successfully pursue our business plan; (2) the uncertainties related to the appeal and acceptance of our proprietary method of play and our planned on-line products; (3) the success or failure of our development of additional products and services; (4) our ability to maintain, attract and integrate management personnel; (5) our ability to secure suitable broadcast and sponsorship agreements; (6) our ability to effectively market and sell our services to current and new customers; (7) changes in the rules and regulations governing our business; (8) the intensity of competition; and (9) general economic conditions. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in World Series of Golf®’s most recent periodic reports on Form 10-K and Form 10-Q that are filed with the Securities and Exchange Commission. World Series of Golf® assumes no obligation to update and supplement forward-looking statements because of subsequent events.