North America Lithium & Gold Corp is a blank check company, that as of the date of this report has no ongoing operations and is seeking to acquire or merge with an unidentified business. Historically the firm operated in electronic gaming services through its subsidiary Go Cash Ltd, ran a country music theme restaurant via Country Star Restaurants Inc, pursued real estate development with Sevada Holdings Ltd IV, and held a minority interest in Global Indexus Inc, a search…
North America Lithium & Gold Corp is a blank check company, that as of the date of this report has no ongoing operations and is seeking to acquire or merge with an unidentified business. Historically the firm operated in electronic gaming services through its subsidiary Go Cash Ltd, ran a country music theme restaurant via Country Star Restaurants Inc, pursued real estate development with Sevada Holdings Ltd IV, and held a minority interest in Global Indexus Inc, a search engine and provider of English language instruction materials via e commerce. The company’s current strategy is to identify a target business that will allow it to transition from a shell entity to an operating concern.
As of the reporting date the company generates no revenue because it is in the development stage and has no active business operations. Historically revenue was derived from turnkey management services provided to electronic gaming operators, food and beverage sales at the country music theme restaurant, and, to a lesser extent, from real estate development activities and the search engine e commerce venture.
The company operates through the following segments.
- Electronic Gaming Services: This segment provided turnkey management services to electronic gaming operators, including casino, scratch ticket and sports book platforms, and handled marketing, website design, payment processing, data storage, customer support and game updates.
- Restaurant Operations: This segment operated a country music theme restaurant in Southern California that served food and beverages to diners and generated revenue from meal sales.
- Real Estate Development: This segment pursued the development and sale of real estate through its interest in Sevada Holdings Ltd IV, which aimed to acquire, improve and resell property assets.
- Search Engine and E Commerce: This segment held a 49% interest in Global Indexus Inc, a search engine that also sold English language instruction materials through an online store.
As a blank check company, North America Lithium & Gold Corp competes with other shell entities that seek to raise capital through public offerings and then acquire a target business. Its competitive advantage lies in its ability to access public markets quickly and to structure a merger without the delays and expenses of a traditional initial public offering. In the historic gaming services arena the company faced competition from larger providers that could spend more on national advertising, while its niche turnkey approach offered flexibility to smaller operators.
The company’s customer base included a single casino operator, one scratch ticket site, six sports book platforms and a prospective lottery client that was undergoing beta testing, with additional gaming operators being pursued. The country music theme restaurant served diners in the Southern California area, while the real estate and e commerce activities had not yet generated a defined customer base at the time of the report.