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Bingo.com Announces First Quarter Results
Bingo.com Announces First Quarter Results
ANGUILLA, B.W.I., May 5, 2014 / Bingo.com, Ltd. (OTCQB: BNGOF), owner of the popular online gaming community http://www.bingo.com, today announced its unaudited financial results for the first quarter ended March 31, 2014. All amounts are presented in United States dollars and in accordance with United States Generally Accepted Accounting Principles.
Recent Bingo.com highlights include:
- Total revenue for the quarter ended March 31, 2014, was $548,471, an increase of 36% from revenue of $404,488 in the fourth quarter of 2013.
- Two separate financings for the quarter ended March 31, 2014, for a total of 1,750,000 common shares at $0.40 per share raising $700,000 in total.
- Soft-launch of Trophy Bingo on Android smart-phones and tablets world-wide
“We continued to implement our long-term business strategies during the first quarter of 2014” said Jason Williams, Bingo.com’s CEO. “In our European cash gaming business revenues increased significantly as a result of changes to the marketing mix and favourable gaming results during the quarter. We continue to invest in select marketing campaigns that have shown the highest returns and in markets where Bingo.com’s brand is the strongest,” continued Williams. “In our social casino business, we soft-launched Trophy Bingo in the Google Playstore during the quarter. The game has been rated highly by players on the platform and its analytics remain strong. We continue to invest heavily in the development of Trophy Bingo as we pursue a strategy of product differentiation in the social bingo marketplace. In the first quarter of 2014 we commenced amortizing the development expenses incurred to date and are expensing the ongoing development costs as they occur. This accounting change has resulted in a large loss for the quarter despite our revenue growth”
AGM 2014
The Annual General Meeting of Bingo.com, Ltd. was held at the company’s Anguillian office located at Ground Floor, Hansa Bank Building, Landsome Road, The Valley, AI 2640, Anguilla, British West Indies on Tuesday, June 24th, 2014 at 11:30 am (Anguillian Time).
bngof-20140331_FINAL
Q1 2014 Form 10-Q
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Closes $500,000 Private Placement
Bingo.com Closes $500,000 Private Placement
ANGUILLA, B.W.I., March 31, 2014 / Bingo.com, Ltd. (OTCQB: BNGOF), owner of the popular online bingo community http://www.bingo.com, today announced it has closed a private placement of 1,250,000 common shares at $0.40 per share to raise net proceeds of $500,000. The shares have been placed with a non-US private company.
“The funds raised in this private placement will be used to finance the on-going development and marketing of Trophy Bingo,” commented Jason Williams, Bingo.com’s CEO. “Trophy Bingo is a patent- pending social bingo product that is currently available worldwide on Android devices and will be coming to iOS and desktop platforms soon. While on-going modifications to the game continue, performance metrics thus far have outperformed our expectations and we remain confident in the game’s long-term potential.”
