Beautifully engraved certificate from the Bingo.com, Inc. This historic document has an
ornate border around it. This item has the printed signatures of the Company’s President and Secretary.
Bingo.com, Inc. develops and operates a bingo-based Web portal designed to provide a variety of free games, pay-to-play skill games, and other forms of entertainment, including an online community, chat rooms, contests, sweepstakes, and tournaments. The Company's existing Websites generate revenue from two principal sources: the free Website, which is supported by advertising revenue, and the skill Website, built around Bingo.com's patent pending BiG'r Bingo skill bingo game, which generates revenue by charging users a small network maintenance fee to play skill based bingo games. The Company conducts its business through its wholly owned subsidiary, Bingo.com (Canada) Enterprises Inc. The Company also maintains a number of inactive wholly owned subsidiaries. These Include Bingo.com (Antigua), Inc., Bingo.com (Wyoming), Inc. and Bingo.com Acquisition Corp.
In January 1999, Chris Sargent, co-founder of Vancouver-based Bingo.com Inc., bought bingo.com for $1.1 million. Sargent contended that the URL alone, being developed as both an online bingo site and a full-blown portal, accounted for half the company's market cap. Bingo.com's stock then traded at about $6 on the over-the-counter market, giving the URL a value of $36 million.
According to the latest 10Q report filed with the SEC:
LIQUIDITY AND CAPITAL RESOURCES
The Company does not currently have an adequate source of reliable, long-term revenue to fund operations. As a result, Bingo.com is reliant on outside sources of capital funding. There can be no assurances that the Company will in the future achieve a consistent and reliable revenue stream adequate to support continued operations. In addition, there are no assurances that the Company will be able to secure adequate sources of new capital funding, whether it be in the form of share capital, debt, or other financing sources.
Bingo.com had cash and cash equivalents of $12,000 and a working capital deficit of $1,243,000 at June 30, 2002.
We will always maintain our founding commitment to customer satisfaction and the delivery of an educational product with an enjoyable shopping experience. Please
let us know how we may be of service to you. We are a Coronavirus Free Zone.
All Old Stock and Bond
Certificates are actual authentic certificates and are sold only as collectibles.
We do not sell reproductions and offer a lifetime guarantee to the
authenticity of everything we sell.