AGC

Shareholders’ Update

Atlantis Gaming Corporation ("AGC") Shareholders’ Update

August 13, 2024

 

 

Dear Shareholders,

I hope this message finds you well. We begin this update with heavy hearts as we share the sad news of the passing of Donald L. Bailey, the visionary Founder, President, and CEO of Atlantis Gaming Corporation ("AGC"/"ATLANTIS"/OTC PINK: "ATIG"). Don passed away on August 1, 2024. His life's work was a testament to his foresight and dedication to AGC and the broader gaming industry. As we honor his memory, we remain committed to realizing his vision and moving forward with the initiatives he so passionately believed in.

 

Leadership Transition and Strategic Direction

In light of Donald’s passing, the Board of Directors has appointed me, Linda I. Bailey as Interim Chairman, President, and CEO of AGC. After consultation with our legal and strategic advisors, I have decided to allocate a portion of our family’s stock holdings in AGC to acquire real estate and other valuable assets for the company. This decision aligns with our strategy to enhance AGC’s balance sheet and position the company for growth, especially in the emerging Skill games sector of the market.

 

Strategic Partnerships and Asset Acquisitions

AGC has entered a strategic relationship with Strather Associates LLC and their partners, CG Properties LLC (Partners); they are long-time investors and major shareholders of AGC. This partnership is a pivotal step in fortifying our asset base and providing liquidity to

complete projects.

 

Real Estate transactions:

Statement from Herb Strather: “Since we are now into real estate and gaming, we are executing creative, Real- Life Monopoly moves; essentially, we’re bartering a billion shares for real estate deals. You might ask why would someone trade valuable real estate for a penny stock? Good question; as a Coach, Real Estate developer, & Gamer we see the opportunity to get AGC stock price north of $1.00 which being major shareholders benefits us tremendously”.

 

1. Lahser Six Associates LLC:

o Location: 22009 and 22125-22145 W. McNichols, Detroit, MI

o Transaction: AGC has acquired a 100% interest in this development, at a 10% Cap Rate, fully financed by Partners at $2.2M with a 90-day payment grace period to build up cash reserves.  AGC issued 75 million shares at $0.0002 per share. This deal is expected to generate substantial operating capital and represents a win-win for both parties.

 

2. 11000 W. McNichols:

• Description: A 55,000 sq. ft. modern office building in NW Detroit, currently 65% occupied with current lease commitments to reach 85% occupancy.
• Acquisition Details: AGC is acquiring this property for $1.8M at an 8% cap rate, with a projected valuation of $2.6M upon full occupancy.

 

3. 2201 Lawndale:

• Description: A 15-unit apartment building in SW Detroit.
• Acquisition Strategy: AGC has a one-year option to acquire this asset at a cap rate greater than 10%, free & clear, by bartering 300 million shares.

 

4. 6442 Michigan Ave.:

o Properties: A 36-unit mixed-use development.

o Strategic Opportunity: These properties have been recently acquired by our partners and are available for AGC’s portfolio at a 10% Cap Rate.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term Goals

Our long-term goal is to position AGC as a significant player in Detroit’s real estate market, leveraging the city’s ongoing economic recovery. By exchanging blocks of AGC shares for ownership in selected real estate projects and partnering in joint ventures with our partners, we aim to enhance shareholder value and drive sustainable growth. This move is expected to give us long-awaited and needed cash to develop our initiatives.

 

AGC Gaming Initiatives

AGC remains committed to gaming. With a stronger balance sheet, we can successfully enter the skill gaming market, launch our Ask a Pro and capitalize on our approval from the National Indian Gaming Commission (NIGC) to connect Tribal Casinos across 28 states via a Virtual Private Network (VPN). This approach is a cornerstone of our strategy to enhance our earnings potential by diversifying into real estate with pros and investing in the future

of gaming.

 

AGC has provided seed funding in a young, upcoming skilled gaming enterprise that has figured out the key to stopping credit card fraud which has been most challenging to the industry. The agreement is currently under a confidentiality agreement.

 

Outlook

With these strategic initiatives and partnerships, AGC is poised to address its cash flow challenges and significantly strengthen its balance sheet. We are confident that these efforts will drive our stock price towards our target of $0.10 per share by

December 31, 2024.

 

We thank you for your continued support and commitment to AGC. Please visit our website for more information concerning our acquisitions and gaming initiatives at: www.atlantisgamingcorporation.com.

 

I can also be reached via:  lindab@atlantisgamingcorporation.com.

 

Warm regards,

Linda I. Bailey

Interim Chairman, President, and CEO

Atlantis Gaming Corporation (AGC)

Phone: 717 557 9900

 

 

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REAL ESTATE PROJECTS