NanoSensors has licensed technology and other intellectual property in order for it to operate an online-based video console game wagering service (the "Service"). The Service enables gamers to compete against other gamers and to place wagers on the outcome of their games. The outcome of the game play will be determined predominantly upon the skill of the individual participant. The Service will cater to an international community of gamers that plays video games and places wagers online.

On May 9th, NanoSensors signed a letter of intent to acquire all of the issued and outstanding shares of The Gaming Network, A.G. ("TGNAG"), a privately owned corporation. Through its subsidiaries and from closing, TGNAG will conduct and offer a European licensed (Malta) software licensing, operation and ancillary services business for online bingo and casino sites operating outside the United States.In a move to place NanoSensors in a better position to introduce its online-based video console game wagering service, NanoSensors sought to identify an acquisition target that met four key criteria: (1) ownership of a portfolio of revenue producing online and bingo sites, (2) an international user-base, (3) the ability to provide financing for NanoSensors' operating costs as it develops its console service and (4) most importantly, strengthening its management and personnel structure.