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SOURCE Kenilworth Systems Corporation
UNIONDALE, N.Y., Sept. 25, 2013 /PRNewswire/ -- Kenilworth Systems Corporation (KENS:PK) and Anchorage Capital Group have jointly announced a definitive agreement under which Anchorage will advise Kenilworth on matters of capital structure, strategic planning, and marketing, as well as provide independent business case analysis.
"Anchorage has been advising Kenilworth executives on an informal basis for several years," said Dan W. Snyder, CEO. "Our consulting agreement formalizes the ongoing relationship between the companies and increases Kenilworth's access to a wealth of experience in strategic company development and exposure to international financial markets."
"Anchorage will immediately commence work on updating Kenilworth's business model and building financial forecasts for the Company, including a capital restructure of affiliate WagerPort to attract direct investment and accommodate acquisitions."
Dan Horn, a Director of Anchorage stated that "We will be updating Kenilworth's business plan, including an in-depth business case analysis of the parent and subsidiaries. Anchorage's initial focus will be to help advance Kenilworth from developing its technology to generating cash flow from deploying that technology."
Anchorage Capital Group (www.ankerplatz.co.uk) is a private consultancy represented in the USA, the Caribbean, EU, and the UK. Anchorage provides business-to-business advice to technology and resource companies in the areas of strategic planning, capital structure, public visibility, financial analysis, marketing, business development and operational planning.
Kenilworth Systems Corporation is in the late stages of developing a patented broadband based, highly secure, fully interactive, high-definition video system which allows a casino to offer live gaming, to its customers, in locations distant from the casino itself. The Company is based in Uniondale, New York and has a subsidiary, KenSysCo Gaming, Inc. in Las Vegas, Nevada.
Mr. Snyder stated, "What Kenilworth does in Vegas will definitely not stay in Vegas."
FORWARD LOOKING STATEMENTS
The information contained in this Press Announcement includes "forward-looking" statements within the meaning of section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is subject to the safe harbors created thereby. Such information involves important risks and uncertainties that could significantly affect results in the future and, accordingly, such results may differ from those expressed in any forward looking statements herein. Future operating results may be adversely affected as a result of a number of factors.
More information: Email Info@KenSysCo.com
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