Message #1 From:
NewsBot Date: August 21, 2006 06:53:00 AM
IRXI News INREEX, Inc. to Launch Online Sports Exchange and Pursue Listing on OTC-BB Exchange
LONDON--(BUSINESS WIRE)--Aug. 21, 2006--INREEX, Inc., (Pink Sheets:IRXI) a Real Estate Prediction Exchange, is pleased to announce that preliminary research into launching an online sports exchange initiative for the marketplace has been completed and is in the final stages of testing. In addition, INREEX is also pursuing a 10SB filing, which will allow it to trade on the OTC-BB Exchange, upon approval.
The launch of a new sports exchange, scheduled for November 2006, is consistent with our business model while at the same time enabling us to penetrate a multibillion-dollar industry. This interactive online marketplace will allow for speculation in various sporting events using both long and short-term contracts. Profits are generated from the rise and fall of contract prices with short-term contracts receiving a payout every time the correct side of a particular wager is chosen. A distinctive feature of our exchange will be its peer to peer technology; with this members can experience the same excitement and liquidity that is witnessed in the stock market. The Sports Exchange will be targeted at International participants and will not allow US Residents or Citizens to place bets or participate in the exchange due to the regulation in that region.
An industry analysis released by the Research and Markets Group (RMG) said the Internet gambling market may reach $125 billion by 2015. The data was published in a report titled "The Online Gambling Market Research Handbook" according to which revenues from the online gaming industry could dwarf those of all the other Internet services estimated at $700 billion worldwide.
"This is a very exciting opportunity for INREEX given that the market appears to be very large and will not only be revenue producing, but will create considerable value for our shareholders. This opens up an enormous door into expanding our coverage into the online marketplace," said Paul Rozenberg, CEO of INREEX, Inc. "The synergies between our current business model and this online sports exchange model are immense, which led us to conclude that an online sports exchange would be a great addition to our current offerings."
As we have previously mentioned, INREEX continues to work towards increasing shareholder equity by becoming more transparent in its filings and financial statements. To that end we are pursuing a 10SB filing, which will allow us to trade on the OTC-BB Exchange, upon approval.
In addition to working on the aforementioned tasks, we continue to expand our current core business and intend to advance our position as an international real estate exchange. Over the last few months we have seen increasing interest and activity in the trading of our real estate contracts. Currently, INREEX allows for speculation in the U.S. real estate market; however we are working on expanding this market to include speculation on an international level.
About INREEX, Inc.
The INREEX (Pink Sheets:IRXI) is a real estate prediction exchange that lets investors take advantage of the fluctuations in the real estate market, without having to buy real property. With INREEX investors can experience the same excitement and liquidity of the stock market, while securing the benefits of real estateinvesting. The exchange is powered by peer to peer technology allowing for transparent and efficient trading 24/7 from virtually anywhere in the world. Ultimately, the INREEX could protect homeowners from a potential housing decline or just allow for efficient real estate speculation without the need to buy or sell actual real estate.
The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The company's actual results could differ materially from those discussed herein.
