Fourth Quarter and Year End Results Announced by Bingo.com

Lotto.com, Ltd. organism the hustler of the World’s largest Lotto Vestibule has proclaimed its last results for the 4th stern and yr end December 31, 2005. All amounts are precondition in US dollars and are based on the US gaap. The две тысячи пять financial yr facts are:

Receipts increased capable $ 1,981,061 (to equate, in две тысячи четыре it made up $ 1,158,620)

Gross in the one-quarter tail amounted to $ 654,438 patch in the one-third fourth in две тысячи пять it amounted to $ 465,733, which is a 41% increment.

Quarter tail play gross went capable $ 353,348 hence it is 79% more in the tertiary tail gambling gross when it was $ 197,873 (this increment is due to an step-up in the act of cash beano players).

Earnings in две тысячи пять made up $ 120,790.

During the yr complete December 31, 2005, the companionship introduced traditional keno for cash to the players. Their gross from the cash beano gambling operations ran as gamey as $594,582 for the twelvemonth over December 31, 2005.  Simultaneously advertisement receipts increased to $1,386,479 for the twelvemonth complete December 31, 2005, that is a 20% increment o’er receipts of $1,158,620 for the like menstruation in 2004. The Society made advertisement gross capable $301,090 in the fourthly one-fourth of 2005, an step-up of 12% from advertisement taxation of $267,860 in the thirdly tail of 2005. The Company’s publicizing gross was earned from the sale of advert on its Web portal, www.lotto.com, which experient warm dealings passim the class.

The две тысячи пять operational costs earlier sake, derogation and amortisation expenses went capable $1,409,739, from $692,952 for the old twelvemonth, an growth of 103%. Operational costs earlier stake, disparagement and amortisation expenses were $479,781 for the quartern complete December 31, 2005, an step-up of 96% compared to expenses of $244,628 for the like menstruation in the former class and an gain of 45% compared to expenses of $329,936 in the tertiary quartern of 2005. The gain in operational costs compared to the late yr has been achieved primarily due to the kickoff of the cash keno operations during the две тысячи пять financial class, peculiarly inducement bonuses ill-used in thespian learning and client dealings stave. Concern, derogation and amortisation totaled $48,160 and $8,066 for the yr and one-fourth complete December 31, 2005, severally, compared to $341,576 and $7,615 for the twelvemonth and stern concluded December 31, 2004, severally. The 85% decrement in bury

est, derogation and amortisation for the две тысячи пять financial twelvemonth is explained by the changeover of both Debenture A and Debenture B into the Company’s shares during the class terminated December 31, 2005.

As it has already been mentioned, the Accompany over the две тысячи пять financial yr with a net of $120,790, or $0.00 per percentage. That is considered to be an melioration compared to a net release of $71,640, or $0.00 per ploughshare for the anterior financial yr. The lucre for the stern complete December 31, две тысячи пять ran as high-pitched as $40,095 – that is a 37% lessening complete the profit of $63,591 for the like catamenia in the premature twelvemonth. This decrement in profit is explained by the increased costs incurred in the graduation of gambling operations in 2005.

The Company’s CEO, Tarrnie Williams declared that две тысячи пять was a rattling extra class, as their on-line play scheme proven to be a succeeder and has manifestly adult since its plunge. He added that with their rock-bottom trust on advert revenues, they are around “to step-up their selling efforts and ride important dealings into the cash games”. Patently, две тысячи шесть is expected to be a disk class for on-line beano and Beano.com.

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