LAS VEGAS, March 13, 2012 /PRNewswire/ -- W Technologies, Inc. (WTCG.PK), a Nevada based online social media and gaming company, plans to offer online poker via the Internet. CEO Wayne Allyn Root stated, "Contingent upon the successful raise of our next round of capital, WTCG anticipates launching an online poker site offering online play for free as well as prizes to players globally. We believe the development of the first version of the future site may take 4-6 months to complete. In parallel with the software development, WTCG intends to apply for a Nevada gaming license. If the Company meets the requirements of the State of Nevada and is granted a license, or decides to joint venture with a Nevada land-based casino license holder, it aims to be in position to allow residents of Nevada and outside the US to play games for cash. As additional states legalize online poker, WTCG's players in those states should also be allowed to play for cash. Naturally, no one can guarantee the issuance of a license, but we are optimistic that there is a bright future for online Poker in Nevada and other states through the country."
WTCG intends to use a social gaming advertising agency to assist with its market strategy. Through its relationship with CEO Wayne Allyn Root, the company has access to several databases of known gamblers which it will look to monetize. Mr. Root also brings relationships with well-known professional poker players and celebrities known for their love of poker, which the company is interested in building strategic relationships with. Root is perhaps the leading sports handicapper in the country and the only member of the sports gaming community to be awarded his own star on the Las Vegas Walk of Stars. Root is well known in the Las Vegas community for his gaming, business and political background.
Mr. Root is a former Libertarian Party Vice Presidential candidate (the running mate of 4-term Congressman Bob Barr of Georgia). He is the author of 7 books (including two Amazon best-sellers), a Fox News Channel regular guest, and a national media star. A former anchorman and host on the Financial News Network (now CNBC), Root is an entrepreneur, economist, small businessman, distinguished business speaker, best-selling author, and passionate "Capitalist Evangelist." Wayne appears weekly on the nationally syndicated "Big Biz Show" with his segment "ROOT on Business." He makes hundreds of media appearances annually, including regular guest appearances on several national radio shows. He serves as Senior Economic Advisor to a global financial services company, as well as national spokesman for a precious metals firm. Wayne also serves on multiple Boards of Directors.
Additionally, through its acquisition last year of SoMo Technologies, COO Ron Costa will continue to work on social media business in support of the broader business strategy, with a new focus on social media and online gaming.
About W Technologies, Inc.
W Technologies, Inc. and its subsidiary, SoMo, focus on the utilization and integration of social media such as Facebook, Twitter and LinkedIn to facilitate interactive, two way communications via the cell phone, between the client and the buying public, creating a stronger, more trusting relationship with the customer. There are approximately 300 million cell phone users in the USA and SoMo Technologies is dedicated to providing them with easy, permission based programs to make buying goods and services easy and convenient.
Precautionary and Forward-Looking Statements
This release contains "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 such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," 'expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude or risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a WCTG's disclosures or filings with the SEC. You are further cautioned that penny stocks, like WTCG, are inherently volatile and risky and that no investor should buy this stock unless they can afford the loss of their entire investment.
SOURCE W Technologies, Inc.