LAS VEGAS, NV–(Marketwire – Jul 12, 2011) – World Series of Golf, Inc. (PINKSHEETS: WSGF) (OTCQB: WSGF) today announced the Company plans to continue its efforts to acquire a technology company identified as a strategic opportunity to support the Company’s recently announced updated objective to prioritize and accelerate the development of a World Series of Golf information technology asset. This announcement comes after the completion of a site visit to the acquisition candidate’s headquarters in Latin America the week of July 4th by a representative, which was conducted as a next step in acquisition due diligence and negotiations. The report back from the representative was encouraging and the Company will continue to move forward on the negotiations to acquire the technology service firm which has approximately $20 million in annual sales. World Series of Golf plans to make a formal offer to acquire the Latin America technology company later this month.
Separately, the Company is developing a new marketing and communications plan to support the Company’s recent business strategy update. Management and stakeholders recently convened to develop a new parallel strategy to develop the Company’s information technology assets and entertainment assets separately rather than continuing with the development of a single integrated information technology and entertainment asset.
World Series of Golf has developed a unique skill based method of play for land based and virtual games combining the rules of golf and Texas Hold’em Poker. The Company owns a patent on its virtual method of play and has a patent pending for the land based events utilizing the method of play.
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.