ISW in agreement to sell assets of SportXction

Long time sports betting industry firm Interactive Systems Worldwide, Inc.(ISW) has agreed to sell the intellectual property rights and gaming software of subsidiary SportXction to Florida-based
First Harvest Corp., a technology, media and mobile gaming platform with a focus on the cannabis industry.

First Harvest owns Hemp Inc., a business strategy, role-playing mobile game focused on the modern cannabis culture with its own intellectual property and development team. First Harvest also owns CannaVoices, a member-based social media platform for subscribers to participate in an open forum with other pro-cannabis supporters in an interactive social media platform.

The consideration has not been disclosed.

The SportXction System is a proprietary, real-time, interactive software system which allows a user to make play-by-play wagers on a sporting event while the event is in progress. Wagering may be conducted online while viewing a live sporting event. The software accepts wagers not only on the outcome of the sporting event, but also on discrete parts of the event and on specific in-game situations for such sports as soccer, football, baseball, basketball, golf, tennis, rugby, cricket, among many others.

There is also a non-gambling game version of the SportXction System, which allows users to predict the outcome of events during a sporting event, casino game or other two-sided event, including fantasy sports applications. Users earn points for correct predictions, bonuses for strings of successful predictions and for correct answers to trivia questions. Users compete on the basis of their scores for a variety of in-game prizes and game-level advancements.

First Harvest CEO Kevin Gillespie said in a statement Thursday that his company believes there is great potential for the SportXction technology in modern mobile games within the company’s inventory.

“Our development team is exploring ways to assimilate this technology into a line of mobile gaming apps related to our Hemp Inc game, and we believe we can create new revenue streams through licensing and sponsorship relationships,” he said.

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