NJ-Kenergy Scientific has completed a Letter of Intent to acquire all of the assets of I Won It Live Enterprises. These assets include all intellectual property, including trademarks, domain name and an operating on line game show that offers both unique advertising opportunities and revenue generating opportunities for Kenergy.
The website, http://www.iwonitlive.com is believed to be the first website to offer members instant prizes for winning on line games where players play live against other contestants. Mr. Michael Johnson, a successful pioneer in creative internet businesses, developed the concept in 1999 and recently developed and expanded the site. The current membership is growing daily and the site is expected to generate positive cash flow this year. The site affords Kenergy a continuous advertising opportunity to promote both the http://www.greensmartstore.com website, as well as store advertising. Kenergy and other companies will provide prizes and receive additional advertising at the games in the form of promotional presentations. Other companies will pay small advertising fees per game that are expected to grow rapidly.
Ken Glynn, President of Kenergy Scientific, stated that he would not attempt this venture without new personnel on the team and he also announced that two of the founders and the technical support team of I WON IT LIVE Enterprises will be coming on board to fully operate the website. Mike Johnson will be serving as CEO for the website and salaries will be based solely on commissions from site revenues. The acquisition costs will be payable over one year and will likely be fully paid from the site revenues. Glynn welcomed Johnson and his support team to the table and expects the transaction to be completed shortly.
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