SOURCE: Diamond I

April 11, 2006 13:52 ET

Diamond I Provides Update, After Volume of Inquiries

Newly-Acquired "Voice-Print" Technology, Real Video Agreement in Focus

LAS VEGAS, NV -- (MARKET WIRE) -- April 11, 2006 -- Diamond I, Inc. (OTC BB: DMOI), a developer of wireless gaming products, today provided an update regarding how its newly-acquired patent-pending voice-recognition biometric, or "voice print," security technology is expected to impact its strategic alliance with Real Video Gaming, Inc. (RVG), a Silicon Valley-based technology company that provides live video feeds of gaming devices actually located in land-based casinos to mobile and online gaming patrons.

"Our newly-acquired voice-print security technology, as incorporated into our WifiCasino GS system, will allow us to deliver the ultimate wireless, hand-held gaming unit, one with the highest standards of security, to Real Video Gaming," said David Loflin, Diamond I's CEO. Under Diamond I's arrangement with RVG, RVG will purchase Diamond I's WifiCasino GS hand-held devices for use in delivering gaming content to its customers.

"We firmly believe our newly-acquired patent-pending 'voice-print' security technology, and our existing patent-pending 'finger-print' security technology, are valuable technologies in the field of biometrically-secured wireless casino, pari-mutual and sportsbook gaming. We also see these security technologies as having increased relevance following the recent adoption of final regulations implementing Nevada Law AB471, which authorizes the use of mobile communication devices for gaming in public areas in Nevada casinos. With these technologies incorporated into our WifiCasino GS products, we will be in a strong position to assure regulators that our wireless, hand-held gaming system will be used only by authorized casino patrons," added Mr. Loflin.

About Diamond I, Inc.

"Voice-Print" and "Finger-Print" Technologies. Diamond I owns the rights to patent-pending voice-recognition and finger-print biometric security technologies. These security technologies will be incorporated into Diamond I's WifiCasino GS wireless, hand-held gaming system.

Diamond I, Inc. is a development-stage company that develops wireless gaming products, including a hand-held Wi-Fi-based gaming system for on-premises use by casinos/resorts, known as "WifiCasino GS Concierge and Gaming System"™. The term "Wi-Fi" (wireless fidelity) refers to an industry standard for wireless equipment that meets published 802.11(x) standards. Wi-Fi equipment operates in unlicensed spectra, such as 2.4 and 5.8 Ghz.

With the passage of Nevada Law AB471, which authorizes the use of mobile communication devices for gaming in public areas in Nevada casinos, Diamond I seeks to secure a Las Vegas hotel/casino to serve as the demonstration site for its WifiCasino GS, in conjunction with its application for a gaming license in Nevada. To that end, in a letter of intent, The Palms Resort and Casino has agreed to continue to develop a working relationship relating to Diamond I's WifiCasino GS and, assuming Diamond I continues to meet certain standards, The Palms stated that it intends to pursue an opportunity with Diamond I. Diamond I continues to seek venues in which to establish its WifiCasino GS system, including other U.S. casinos and horse and dog racing facilities. Diamond I has had preliminary discussions with certain owners of cruise ships, certain owners of horse racing facilities in the United States and dog and horse racing facilities outside the United States.

Forward-Looking Statements

Certain statements in these interviews and news releases may constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risk, uncertainties, and other factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ materially from the forward-looking statements. Certain statements contained in the interviews are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve numerous risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of Diamond I's products and services and markets for such products and services, the timing and level of customer orders, competitive products and service, changes in economic conditions and other risks and uncertainties. Although Diamond I believes the statements are reasonable, it can give no assurance that such expectations will prove correct. Diamond I cautions that any forward-looking statements contained herein are not a guarantee of future performance and that actual results may differ materially.

Contact Information

  • Contact:
    Diamond I, Inc.
    Baton Rouge
    David Loflin