TableMAX Holdings, LLC Completes Reverse Acquisition With Publicly Traded CJPG, Inc.
August 04 2008 - 12:44PM
PR Newswire (US)
LAS VEGAS, Aug. 4 /PRNewswire/ -- TableMAX Holdings, LLC
("TableMAX"), a California limited liability company, announced the
closing of a share exchange transaction with CJPG, Inc. (Pink
Sheets: CSJP) and a related private placement financing
transaction. CJPG, Inc. is a Nevada corporation formerly known as
Casino Journal Publishing Group, Inc. and trades on the pink sheet
section of the OTC under the symbol CSJP. Under the terms of the
share exchange transaction, TableMAX members will be issued shares
of CJPG's common stock in exchange for 100 percent of the issued
and outstanding membership interests of TableMAX. In connection
with the transaction, CJPG changed its corporate name to TableMAX
Corporation and Stephen Crystal, President and Chief Executive
Officer of TableMAX, was appointed to serve as President and Chief
Executive Officer of the Company. The Company expects to change its
trading symbol in the future. In conjunction with the share
exchange transaction, the Company completed a private placement
financing transaction in which it received approximately $3 million
in gross offering proceeds in the form of cash and the cancellation
of debt, before payment of commissions and fees. ABOUT TABLEMAX
TableMAX is engaged in the manufacture, sale and distribution of a
patented five-seat, multi-player electronic table game known as the
TableMAX(R) System(TM). The TableMAX System is a state of the art
multi-player video gaming machine that utilizes patented technology
to provide electronic versions of popular traditional casino card
games. The TableMAX game library includes Progressive Blackjack(TM)
(Gaming Labs certified Sept. 2007), Caribbean Stud(R) Poker (Gaming
Labs certified May 2008) and Caribbean Draw(R) Poker, which is
currently being tested for certification. Texas Hold 'Em Bonus
Poker is currently in development. To date, TableMAX has sold five
TableMAX Systems abroad; placed six on a recurring revenue basis,
including five in Oklahoma casinos and one in South America; signed
orders for six system installations; and received verbal
commitments for 18 system placements. In April 2008, TableMAX
launched its initial wide area network offering a progressive
jackpot, linking TableMAX Systems in operations at two separate
Tribal gaming establishments in Oklahoma. The wide area network is
believed to be the first wide area progressive network on an
electronic table game available anywhere in the world. TableMAX
commenced its current business, consisting of the manufacture and
sale of the TableMAX System and related video card games, in 2004.
It commenced limited revenue producing operations in 2005 through
the marketing and sale of an earlier version of the TableMAX
System, and completed the initial development of the TableMAX
System in the fourth quarter of 2007. TableMAX commenced the formal
roll-out of the system and related card games in first quarter of
2008. From its inception through June 30, 2008, TableMAX has
generated $308,000 in revenue from the sale or placement of
TableMAX Systems. ABOUT THE COMPANY The Company is a Nevada
corporation organized in 1995 for the purpose of operating a gaming
publication business. In 1996, it registered its common stock
pursuant to Section 12(g) of the Securities Exchange Act of 1934
and traded on the OTC Bulletin Board from 1996 to 2004. In 2004, it
sold substantially all of its assets, voluntarily terminated its
SEC reporting requirements, and accepted a delisting from the OTC
Bulletin Board. Since 2004, the Company has essentially been
dormant and its common shares have traded on the pink sheet section
of the over-the-counter stock market. Going forward, the Company
will serve as the publicly-listed holding corporation for TableMAX.
The Company plans to resume its prior status as a SEC reporting
company, commence filing periodic reports with the SEC and pursue a
listing of its shares on the OTCBB, or a more senior exchange in
the near future. After giving effect to the transactions taking
place in connection with the share exchange transaction and private
financing, the Company has approximately 49,904,181 shares of
common stock issued and outstanding. The Company's common stock
continues to be listed on the pink sheet section of the
over-the-counter under the symbol, CSJP.PK. FORWARD LOOKING
STATEMENTS This release contains certain "forward-looking
statements" relating to the business of the Company and its
principal subsidiary, TableMAX, which can be identified by the use
of forward-looking terminology such as "believes, expects" or
similar expressions. Such forward looking statements involve known
and unknown risks and uncertainties, including all business
uncertainties relating to product development, marketing, market
acceptance, future capital requirements, competition in general and
other factors that may cause actual results to be materially
different from those described herein as anticipated, believed,
estimated or expected. The Company is under no obligation to (and
expressly disclaims any such obligation to) update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise. Contact Paul Speirs 702-413-4278
DATASOURCE: TableMAX Holdings, LLC CONTACT: Paul Speirs,
+1-702-413-4278, , for TableMAX Holdings, LLC
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