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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 paulspeirs@cox.net
SOURCE TableMAX Holdings, LLC
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