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Investor
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The Company had been primarily engaged in
the lottery industry for approximately 10 years and was one of
the largest providers in the world of vending machines for the
sale of instant-winner lottery tickets. In 2000, the Company
began the process of selling its lottery business in order to
acquire the cash necessary to transition the Company into other
business activities that could provide more diversified and
larger market opportunities. On June 1, 2001, the Company
completed the sale of its lottery business to Interlott
Technologies, Inc. Under the agreement with Interlott, the
Company sold all of the assets used in its existing lottery
business, relating to the manufacture, sale, lease and service
of instant lottery ticket vending machines.
Since June 1, 2001, we have been in the
process of establishing new strategic initiatives and preparing
the Company to transition into new business activities. In that
connection, during 2002 the Company has been actively reviewing
(i) opportunities that involve the acquisition of or merger
with companies that have new business activities with high
growth potential and (ii) marketing plans to maximize the value
of the Company’s existing non-lottery related products,
which consist primarily of card dispensing equipment.
On August 8, 2003, the company announced
that it has completed a merger with McDigit, Inc.
(“McDigit”), which was approved by its shareholders
on July 28, 2003. McDigit, through it's manufacturing and its
acquisition of the long-range video, audio, and data
transmission system technology and related brands from Sequent
Technologies, Inc., is positioning itself to become a leading
provider of Homeland Security technology. McDigit will provide
Global with immediate revenue from proven on-going business as
well as exciting new products that can accelerate the Company's
launch into a large and expanding market.
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