AUSTIN, Texas - (Business Wire)
Littlefield Corporation (OTCBB: LTFD) announces that it has participated with others representing approximately thirty-five (35) licensed commercial lessors in the founding of the Texas Association for the Advancement of Charitable Bingo.
The Texas Association for the Advancement of Charitable Bingo is a non-profit business association among licensed commercial lessors, which seeks the advancement of charitable bingo in Texas.
The Association is formally organized as a Texas non-profit corporation pursuant to the provisions of Title 1, Chapter 3, Subchapter A of the Texas Business Organizations Code and is intended to operate in a manner consistent with Section 501(c)(6) of the United States Internal Revenue Code of 1986, as amended.
The Association has filed its Certificate of Formation with the Texas Secretary of State’s office effective as of 1 May 2008 and adopted its Bylaws as of the same date. The Association shall be governed by a three (3) person Board of Directors which shall appoint officers.
The Association's members currently are composed of approximately thirty-five (35) founding commercial lessors. The Association shall increase its membership exclusively by invitation. Invitations will be extended to active commercial lessors who do not participate in or support gambling -- legal or illegal -- in or around charitable bingo halls.
The Association will become an active voice for the advancement of charitable bingo before the Texas Lottery Commission and the Legislature and will actively pursue rulemaking and legislative initiatives which benefit charitable bingo. The Association will coordinate closely with the TLC Charitable Bingo Operations Division and other like-minded industry organizations such as the Texas Charity Advocates.
Jeffrey L. Minch, a founding Director of the Association, made the following comment:
“The Texas Association for the Advancement of Charitable Bingo will be a force for confronting the issues pertinent to charitable bingo, such as the proliferation of gambling both illegal and 'legal,' which serves to dilute the fund-raising vigor of charitable bingo.
“We have embraced a degree of legal formality in order to ensure accountability to our membership and transparency in our actions.
“As already the largest association of commercial lessors in Texas, we will open our membership broadly to other commercial lessors whose business is consistent with that of the Association.
“We will actively coordinate and cooperate with all like-minded industry groups in matters pertaining to rulemaking and legislation.”
For additional information, please contact:
| Jeffrey L. Minch |
| Texas Association for the Advancement of Charitable Bingo |
| 2501 N. Lamar Blvd. |
| Austin, TX 78705 |
| 512-476-5141 |
| jminch@littlefield.com |
Investors are always cautioned to be careful in drawing conclusions from a single press release, the Company’s performance in a single quarter or the individual opinions of any member of the Company’s management in making their individual investment decisions.
Littlefield Corporation is a Delaware Corporation headquartered in Austin, Texas whose corporate subsidiaries are involved as licensed commercial lessor and promoter (in South Carolina only) with thirty-two (32) charitable bingo halls in Texas, South Carolina Alabama and Florida. The Company has also announced plans to open two halls in El Paso and McAllen, Texas later in the year. Over 100 charities conduct bingo in these charitable bingo halls and in 2007 earned $3,700,000 to fund their noble causes. In addition, the Company owns Premiere Tents & Events (party rental company).
In accordance with the safe harbor provisions of the Private Securities Reform Act of 1995: except for historical information contained herein, certain matters set forth in this press release are forward-looking statements that are subject to substantial risks and uncertainties, including government regulation, taxation, competition, market risks, customer attendance, spending, general economic conditions and other risks detailed in the Company’s Securities and Exchange Commission filings and reports.
Littlefield Corporation, Austin
Cecil Whitmore, 512-476-5141
Financial Analyst, Investor Relations
fax: 512-476-5680
cwhitmore@littlefield.com
