More updates:
First of all.. you got to be kidding me.. almost 600 post and thousand of players and only 4 people for a grand total of 100K have emailed me and consider taking this further action. If you are interested email me with how much tusk owes you at
FundInTusk@hotmail.com
Now why on earth my Australian lawyer is not able to find TUSK INVESTMENT CORPORATION LIMITED when that is exactly copy pasted from the MGS public press. Here is his response:
There are only three names which have 'Tusk Investments', in their title,
ACN 076 682 936 REGD TUSK INVESTMENTS PTY. LIMITED
VIC 1385053V RMVD TUSK INVESTMENT HOLDINGS
QLD BN20482437 REGD TUSK INVESTMENT HOLDINGS
Only one of them is 'Pty Limited'. That is, only one of them is a company.
The information you sent to me is simply wrong. There is no company called
Tusk Investment Corporation Limited. It does not exist.
All those skins owner that have deal with MPP and tusk please email me where tusk registered so i can follow up with my lawyer and get more info about them and thier liquidator etc...
and here is from another document sent to me by my lawyer
"Global Approach Limited
Independent Expert’s Report
23 May 2006"
I just copy paster the tusk section.
"4.1.3 Regulatory Environment in Australia
Australia has a Federal Law to prevent Australians from playing online. Australian Federal Law does not prevent online casinos to operate from the licensed jurisdiction of Kahnawake in Canada providing they do not allow Australian residents to play at the Casino. The latest technology is applied to prevent access by Australians."
Tusk Group Structure at 31 March 2006
[Tusk Investments Corporation
(Inc. Vanuatu)
TIC
(Company Number 28453)]
|
|
V
[Newecon Ltd
(Inc. Australia)
“NewEcon”
Gaming Service Company]
|
|
V
[MyPokerProfit
(Inc. Australia)
“MPP”]
4.3 History & Activities
NewEcon, the operating company of the Tusk Group, is an unlisted Australian public company that was established in 2000. It now has over 45 full time staff. The Company specialises in the online casino management and is currently involved in the management of several online casinos.
These online casinos are licensed by the Kahnawake Gaming Commission which is based in Kahnawake in Quebec Province in Canada. The casinos use Microgaming Software, a leading online gaming software supplier.
The Company also provides consultancy advice in relation to the following:
• Internet product marketing;
• Internet site development and e-commerce solutions;
• Hardware and Network requirements including web servers and global distribution points for internet sites;
• Security, including full encryption for privacy and financial protection; and
• 24/7 call centre to assist clients with their needs.
Revenue Streams
Revenue has predominantly been derived from the following:
• Casino fees – income associated with the management of seven online casinos.
• Poker fees – poker is the fastest growing segment of the online gaming market.
NewEcon has derived significant revenue commencing during FYO6 from the
management and ownership of a number of online poker rooms. Operating Expenses Operating expenses include legal fees, IT expenses, NewEcon consultant payments and other consultant payments.
4.4 Capital Structure and Shareholders
The shareholders in Tusk Investments Corporation at 31 March 2006 are as follows:
Table 8:
Shareholder %
MDA Capital Limited 59.0
James Canning-Ure 19.5
Brian Cooke 19.5
Anthony Say 2.0
100.0
4.5 Financial Position
The unaudited pro-forma statement of financial position for the Tusk Group at 31 March 2006 is presented below:
Table 9:
$
Current Assets
Cash & cash equivalents 6,468,747
Trade & other receivables 435,354
Other 314,468
Total Current Assets 7,218,569
Non Current Assets
Property plant & equipment 87,090
Intangible assets 1,172,560
Deferred tax asset 57,140
Total Non Current Assets 1,316,790
Total Assets 8,535,359
Current Liabilities
Trade & other payables – players purse* 6,072,337
Trade & other payables – other 1,894,345
Provisions 131,256
Interest bearing liabilities 666,667
Tax liabilities 30,856
Total Current Liabilities
Non Current Liabilities
Provisions 21,962
21,962
Total Liabilities 8,817,423
Net Assets (282,064)
EQUITY
Share capital 5,010
Accumulated losses (287,074)
Total Equity (282,064)
* Player balances held in trust
This is absolutely unreal that i still cant find tusk business registration. but the most important good news is
* Player balances held in trust[/I] if i understand correctly that means our money is safe... or at least safer than if it was not held in trust. (just guessing though)