UNIONDALE, N.Y., Sept. 25, 2013 /PRNewswire/ -- Kenilworth
Systems Corporation (KENS:PK) and Anchorage Capital Group have
jointly announced a definitive agreement under which Anchorage will
advise Kenilworth on matters of capital structure, strategic
planning, and marketing, as well as provide independent business
case analysis.
"Anchorage has been advising Kenilworth executives on an
informal basis for several years," said Dan
W. Snyder, CEO. "Our consulting agreement formalizes the
ongoing relationship between the companies and increases
Kenilworth's access to a wealth of experience in strategic company
development and exposure to international financial markets."
"Anchorage will immediately commence work on updating
Kenilworth's business model and building financial forecasts for
the Company, including a capital restructure of affiliate WagerPort
to attract direct investment and accommodate acquisitions."
Dan Horn, a Director of Anchorage
stated that "We will be updating Kenilworth's business plan,
including an in-depth business case analysis of the parent and
subsidiaries. Anchorage's initial focus will be to help
advance Kenilworth from developing its technology to generating
cash flow from deploying that technology."
Anchorage Capital Group (www.ankerplatz.co.uk) is a private
consultancy represented in the USA, the Caribbean, EU, and the UK. Anchorage provides
business-to-business advice to technology and resource companies in
the areas of strategic planning, capital structure, public
visibility, financial analysis, marketing, business development and
operational planning.
Kenilworth Systems Corporation is in the late stages of
developing a patented broadband based, highly secure, fully
interactive, high-definition video system which allows a casino to
offer live gaming, to its customers, in locations distant from the
casino itself. The Company is based in Uniondale, New York and has a subsidiary,
KenSysCo Gaming, Inc. in Las Vegas,
Nevada.
Mr. Snyder stated, "What Kenilworth does in Vegas will
definitely not stay in Vegas."
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.
More information: Email
Info@KenSysCo.com
SOURCE Kenilworth Systems Corporation