The class of equity
securities to which this statement relates is the common stock, par value
$0.001 per share (the "Shares"), of FortuNet, Inc., a Nevada
corporation (the "Issuer"), which has its principal executive
office at 2950 South Highland Drive, Suite C, Las Vegas, Nevada 89109.
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(a) and (f) This
statement is being filed by Yuri Itkis, an individual and a citizen of the
United States of America, The Yuri Itkis Gaming Trust of 1993, a trust (the
"Trust"), and YI Acquisition Corp., a Nevada corporation (YI
Acquisition and together with Yuri Itkis and the Trust, the Reporting
Persons).
Mr. Itkis is the sole
trustee and beneficiary of the Trust, which directly owns the 8,266,500
Shares to which this statement relates, which represents, based on the number
of shares outstanding as reported in the Issuers Quarterly Report on Form
10-Q for the period ended September 30, 2009, filed November 12, 2009,
approximately 74.8% of the outstanding Shares of the Issuer as of November
20, 2009.
(b) The business
address of Mr. Itkis is 2950 South Highland Drive, Suite C, Las Vegas, Nevada
89109. The address of the principal
office of the Trust and YI Acquisition is c/o Yuri Itkis, 2950 South Highland
Drive, Suite C, Las Vegas, Nevada
89109.
(c) Mr. Itkis is the
Chairman of the Board and Chief Executive Officer of the Issuer and sole
trustee and beneficiary of the Trust.
The principal business of the Issuer is designing, manufacturing,
maintaining, and leasing electronic gaming and entertainment systems
throughout North America. The
principal business of the Trust is holding Shares of the Issuer. YI
Acquisition was formed to facilitate the tender offer and the merger
described under Item 4 below.
(d) and (e) During the
last five years, none of the reporting persons on this statement (i) has been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or (ii) was party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and, as a result of such
proceeding, was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or finding any violation with respect to
such laws.
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(a)-(b) On the date
hereof, Mr. Itkis and the Trust have the shared power to vote or to direct
the vote and to dispose or to direct the disposition of 8,266,500 Shares, or
approximately 74.8% of the outstanding Shares. Yuri Itkis is the sole trustee and
beneficiary of the Trust which is the sole stockholder of YI Acquisition. The subject shares are owned by the Trust
but may be considered beneficially owned by Mr. Itkis. Accordingly, the Trust and
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