And, here is the latest news release:
Business Wire - January 29, 1999 21:19
TALLAHASSEE, Fla.--(BUSINESS WIRE)--Jan. 29, 1999--Bingo.com (OTC BB:BIGG), a high technology Internet Company that is
developing the world's first free "Bingo-based" e-mail community, announced today that they have finalized the purchase of their domain
name www.bingo.com.
The deal was finalized with $200,000 paid in cash, 500,000 common shares of the Company, and an ongoing quarterly payment equal to
4% of the gross revenue of the Company with a minimum guarantee of $1,100,000 US Dollars.
The destination site is now in development as of Jan. 26, 1999 as Bingo.com announced a definitive agreement with the hiring of Stratford
Internet Technologies and Mindquake Software to develop the estimated U.S. $1.3 Million portal site.
Robert Craig, president of Stratford Internet Technologies stated: "We are extremely excited to be working with Bingo.com. The word
"bingo" is an internationally recognized and identifiable word. We expect we can develop a globally accepted destination site on the Internet
around this entity. With the concept of free e-mail, the company "Hotmail.com" was sold to Microsoft (NASD:MSFT) for a price of U.S.
$400 Million and looking at the value of domain names, "shopping.com" was purchased by Compaq Computers (NY:CPQ) for U.S. $220
Million. Yahoo! Inc. (NASD:YHOO) just unveiled a deal to acquire Geocities.com (NASD:GCTY) for $3.56 billion in stock, or $113.66
per share. Another destination site that has recently raised public awareness is TheGlobe.com (NASD:TGLO). We feel that the Bingo.com
site can be all of this and more. Bingo is a "name brand" an expression that is recognized globally."
Unlike other Internet sites that obtain their revenues strictly from banner advertising, Bingo.com will generate revenues from four distinct
revenue streams: 1. Banner advertising revenues 2. Licensing revenues 3. Licensing and royalty revenues obtained from proprietary Bingo
software technology 4. Wagering revenues from Bingo games
Wherever you want to go, Bingo! You're there. Bingo.com will provide Internet users with a destination point or portal site that will be easily
recognized as an informative home page. The site will be set up as an information center with free e-mail, free web pages, free news, chat
rooms, music, sports, entertainment and lifestyle information in a fun and exciting environment, surrounding the age-old game of Bingo.
Bingo.com is soon to be the home of the "Million Dollar Jackpots" and a destination site like no other. The site will offer extensive free
downloads, free information and free "hot links" with a wide variety of exciting prizes and promotional partnerships, creating a
communicative infrastructure of international chat, e-commerce, entertainment and excitement.
Bingo.com will combine the best features of: TheGlobe.com, Geocities.com and Microsoft's Hotmail, all surrounding the most popular game
in the world: BINGO.
Through an extensive array of media partnerships, once every 24 hours, a surprise jackpot Bingo will be announced with a 30-minute
countdown notice.
The Company is currently taking applications for registered charities. Twenty-five charities will be chosen each month and will be posted on
the buy-in portion of the Bingo site. At the buy-in station, or point of sale, players will have the opportunity to pick 1 of the 25 charities. A
portion of their sale will be donated directly to the charity of their choice. Exclusive charity packages will be made accessible through outside
banner placement.
The destination site. "Bingo.com" is expected to be operational by April 30, 1999 and will be launched in conjunction with a national radio
and media campaign as the world's first free "Bingo-based" e-mail/web page community. Bingo.com will combine news and lifestyle
information in a fun and exciting interactive environment surrounding the age-old game of Bingo.
For additional company information, contact Michael Curlook toll-free at 877/322-4646.
The statements in this press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of
1933 and Sections 21E of the Securities Exchange Act of 1934 and are subject to the safe harbor created by these sections. Actual results
may differ materially form Bingo.com's expectations and estimates.
CONTACT: Bingo.com
Michael Curlook, 604/687-2000
Toll-free: 877/322-4646
www.bingo.com
P.S.
It is my understanding the float is 9 million shares.
Chuckr |
