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Coinless Systems Signs Licensing Agreement With Konami Gaming22 January 2002LAS VEGAS –(Press Release) -- Jan. 22, 2002 -- Coinless Systems Inc. (OTC Bulletin Board: CLSY ) a leading developer, manufacturer and supplier of coinless technology and UVASHIELD coated tickets for the gaming industry announced today that the Company has signed a licensing agreement with Konami Gaming, Inc. "Under the licensing agreement, Konami is licensed to use Coinless Systems's patented technology, Scan After Print in slot machines manufactured by Konami. In the agreement, Coinless Systems grants Konami a non-exclusive license to use devices within the scope of Coinless Systems's U.S. Patent No. 6,012,832. "Commenting on this latest licensing agreement, Dennis Sorenson, CEO of Coinless Systems Inc. stated, ``Establishing relationships with a quality company within the gaming industry such as Konami is very important to the future success of Coinless Systems. We anticipate 2002 to be our best year in the history of the company and anticipate in Q1 to begin generating revenues from royalty payments and also the sale of our UVASHIELD coated gaming tickets.'' "The UVASHIELD coating protects the ticket against sun, light, alcoholic beverages, and water damage as well as increasing the life of the printers with less wear and tear on print heads. "``We are in negotiations with some other very significant companies within the gaming industry and look forward to completion and announcement of those deals in the very near future,'' added Sorenson. |