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Kenilworth Systems Sells Patent Holdings to Interactive Systems




UNIONDALE, NY — (Marketwired) — 12/11/14 — Kenilworth Systems Corp. (OTC PINK: KENS) today announced a significant step forward advancing shareholder value.

Dan W. Snyder III, President and CEO of KENS, stated that, “I–m pleased to report that Kenilworth has signed a Memorandum of Understanding with Interactive Systems Worldwide, Inc. (“ISWI”) to transfer our patent holding subsidiary to ISWI in exchange for $1.1 million in ISWI shares and warrants. This action will effectively merge the gaming opportunities of both companies; and increase shareholder value of both companies. The ISWI securities are scheduled to be distributed to the KENS shareholders of record on December 31, 2014, which will provide excellent cross-company opportunity for shareholders.”

Steve Johns, President of ISWI, noted, “ISWI has a track record of developing and implementing gaming software. ISWI and subsidiaries wrote the software that has been used by major sports book operators in the EU and Las Vegas since 1999. ISWI is fully prepared to integrate the KENS intellectual property and expertise at this important time in international online gaming.”

Snyder stated, “Management has diligently kept its gaming patents and patent applications fully compliant in the USA, Canada, European Union, Japan, and China; Important progress has been made in designing technology to develop the intellectual property afforded by the patents. This merger of interests of KENS and ISWI is the right opportunity at the right time to convert this investment in time and money into shareholder value.”

Kenilworth Systems Corporation is an integrated technology corporation with intellectual property assets and technical capabilities in the live online gaming sector. The Company is based in Uniondale New York.

Interactive Systems Worldwide Inc. is a developer with considerable expertise in gaming software. ISWI is incorporated in Delaware with offices in San Diego California.

FORWARD LOOKING STATEMENTS

The information contained in this Press Announcement includes “forward-looking” statements within the meaning of section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbors created thereby. Such information involves important risks and uncertainties that could significantly affect results in the future and, accordingly, such results may differ from those expressed in any forward looking statements herein. Future operating results may be adversely affected as a result of a number of factors.

Kenilworth Systems Corporation
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Posted by on 11. December 2014. Filed under Internet. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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