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| CryptoLogic, Inc. is an Internet software development and licensing
company operating in the Internet transaction processing market. The
principal focus of the Company is the development, licensing and support
of Internet-based software and e-commerce software for the Internet gaming
industry. The Company, through WagerLogic Limited, licenses and supports
its proprietary Internet-based software package to 17 Internet casino
licensees located in various countries around the world. Each licensee has
represented and demonstrated that it is licensed or in the process of
being licensed by the relevant authorities in its jurisdiction to operate
virtual casinos on the Internet. The Company provides e-commerce support
and technology to WagerLogic licensees, and maintains, through
subsidiaries, e-commerce accounts for both merchants of its e-commerce
software and their end users. The Company reports and remits to its
licensees their respective share of the net transaction revenues. |
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