VT Gaming Services, Inc.
VT Gaming Services, Inc.
Dynamic Biometric Systems, Inc.
VT Gaming Services, Inc. (the “Company”) was incorporated in Arizona on September 3, 2004 as a wholly owned subsidiary of Visitalk Capital Corporation (“VCC”). The Company was formed as part of the implementation of the Chapter 11 reorganization plan (the “Visitalk Plan”) of visitalk.com, Inc. (“Visitalk.com”). The Visitalk Plan was deemed effective by the Bankruptcy Court on September 17, 2004 (the “Effective Date”). On September 22, 2004, Visitalk.com was merged into VCC, which was authorized as the reorganized debtor under the Visitalk Plan. The Final Decree closing the Visitalk.com case was entered by the Bankruptcy Court on July 28, 2006.
Formation of Dynamic Biometric Systems, Inc.
On December 31, 2004, pursuant to an Exchange Agreement, the Company acquired all of the outstanding capital stock of DynaSig Corporation, an Arizona corporation (“DynaSig”). As a result, the former DynaSig stockholders held approximately 88.1% of the voting capital stock of the Company immediately after the Exchange Transaction. To reflect this change in business, the Company changed its name to Dynamic Biometric Systems, Inc. with DynaSig as a wholly owned subsidiary. As part of this acquisition, the Company changed its state of incorporation from Arizona to Nevada. As part of these transactions, the shareholders authorized a reverse split its shares on a one-for-four basis. The Company was funded through the issuance of Series A and Series B preferred shares. A majority of these shares are owned by Aztoré which is also the Company’s largest creditor.
The Memorabilia Registry, Inc.
On November 2, 2009, the Company formed another wholly owned subsidiary, Memorabilia Registry Corp. (“MRC”). In December, 2009, the Company determined that the DynaSig business was not viable as developed and changed its total emphasis to MRC’s business. Accordingly, the Company once again started reporting as a development stage company beginning with MRC’s inception on November 2, 2009.
In November 2009, DynaSig transferred MRC all the rights, preliminary development and preliminary patent to MRC immediately after its formation for 5,100,000 newly issued shares of MRC common stock. DynaSig immediately issued a dividend of this stock to the Company.
On March 24, 2010, MRC filed a utility patent application on its Registry and other features. Dr. Kim, DynaSig’s founder and the Company’s president, may file additional formal patents related to the DynaSig System, the Signature Documentation Software or the Registry in the future, which would also be assigned to the Company under Dr. Kim’s agreements.
Name change to MemReg, Inc.
Reflecting its change in business, on April 11, 2011, the Company amended its articles with the State of Nevada to change its name from Dynamic Biometric Systems, Inc. to MemReg, Inc. During 2010 and 2011, its newly formed subsidiary, MRC, sold $775,000 in MRC Series A preferred stock. These shares, not owned by the Parent company represent a 11.3% non-controlling shareholder interest of MRC. Since December 31, 2011, MRC has been funded by advances from the Parent.
The Company is focusing all its efforts on developing MRC’s business. MRC owns the site memreg.com. MRC was originally formed to exploit DynaSig software specially developed for capturing, tracking and maintaining the documentation for celebrity signatures (the “Signature Documentation Software”). MRC’s expanded mission is to extend the functionality of the “registry” related to the Signature Tracing Software to any collectible item with or without an autograph although the Company is currently emphasizing autographed items. The Registry is designed to provide complex search capability for unique, collectible items with related information and trusted third-party time-stamped history ("provenance") for all registered items and their supporting documentation.
Although MRC’s web site is fully operational, due to its very limited revenues, MRC is still in the development stage and therefore the Company is also reporting as a development stage Company from the formation of MRC on November 2, 2009.
The Company’s 100% owned DynaSig subsidiary is currently dormant and has no collectable liabilities.
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