29 July 2008
Dear Aspiritus Member
The Aspiritus management team has been working tirelessly
since the issues arose with our gaming partner. Every effort
has been made to find another provider or partner that would
enable us to implement new products as soon as possible.
However, our search has been futile to date due to time
constraints on delivering new products, the cost of
obtaining new licenses or a mixture of both.
Over the last week, Aspiritus management has been reviewing
the business and it is with great regret that we will have
to close the Aspiritus business with immediate effect as the
impact on the Aspiritus business of the recent contractual
dispute, and ultimate termination of the contract, with our
gaming operator has been devastating. The dispute has put
Aspiritus under further financial strain and after reviewing
the cash flow of the business, the Aspiritus management team
has been left with no alternative.
While the decision has been made to close the Aspiritus
business, Aspiritus management has held discussions with a
new gaming operator, who will be opening their website in
August, and they have agreed to place Aspiritus members into
their database. As well as this, the Aspiritus management
team continues to negotiate with this operator on how
Aspiritus can secure a holding that would allow our members
holding Club Equity credits to have some future ownership of
the new company as well as migrating the VirtuDAQ and S8 +
Superdraw products. When Aspiritus finalizes a contract with
this new company, Aspiritus will contact all members via
email with any proposal that we have been able to agree to.
As well as the negotiations stated above, Aspiritus is
seeking further legal advice on the recent developments in
order to rectify some of the losses in reputation and
business that have come out of this dispute. All members are
advised that if Aspiritus is able to secure any compensation
from any action or settlement, these funds will be put
towards extinguishing any outstanding debts including member
Aspiritus would like to thank all our loyal members for
their support over the years. It has been a sometimes
rewarding, sometimes difficult business to be part of, but
Aspiritus has lasted through some very tough times and we
will continue to strive for the best outcome for our
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