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David Cheng

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Additional 2 new licenses in the past four weeks further illustrates the potential of our business model catered for Europe, ... The fact that these two licensees chose Pegasus Gaming as their business partners further validates us as a major competitor in the online gaming industry.

A second license in a matter of two weeks further illustrates the potential of our product in Europe, ... The fact that a government-run lottery has chosen to do business with Pegasus Gaming further validates us as a player on the world stage.

We are extremely pleased with the success that we have achieved in only our second quarter of operations, ... The strict due diligence process that was completed by GoldenGooseBet reaffirms the quality of our product and allows us to continue to provide gaming providers a turnkey product to incorporate into their gaming Web sites.

The recent rise in oil prices will certainly have a positive effect on this industry as the gambling public will be more likely to go online to gamble as opposed to traveling by airplane, car or train to its traditional brick and mortar casino as a result of the higher costs associated with traveling due to the skyrocketing price of oil. Oil companies such as American Energy (OTCBB: AMEP) are already seeing the effects of higher oil prices and we believe that Pegasus and the gaming industry in general will also benefit greatly.

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