August 16, 2005
Bingo.com Announces Second Quarter Results
ANGUILLA, B.W.I., August 16, 2005 / Bingo.com, Ltd. (OTC BB: BNGOF), operator of the Internet’s pre-eminent bingo portal, today announced its financial results for the second quarter ended June 30, 2005. All amounts are presented in United States dollars and in accordance with United States Generally Accepted Accounting Principles.
- Bingo.com highlights of the second quarter 2005 include:
- Bingo.com, Inc. completed a merger with its wholly-owned subsidiary Bingo.com, Ltd. with Bingo.com Ltd. being the surviving corporation.
- Completed a non-brokered private placement offering of 1,339,667 common shares at $0.75 per share which raised gross proceeds of $1,004,750.
- Launched its cash bingo games.
- Completed an asset purchase for the popular cash bingo websites www.winabingo.com and groovybingo.
- Revenue of $457,339, an increase of 85% over revenue of $247,752 in the second quarter of 2004 and a 13% increase over revenue of $403,551 in the first quarter of 2005.
- Second quarter profit of $1,522.00 the fourth consecutive positive quarter.
For more information contact:
- Henry Bromley
- (264) 461-2646