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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington











    
 






    
UNITED

    STATES


    SECURITIES AND EXCHANGE COMMISSION


    Washington, DC 20549






    


  
FORM 10-Q



    


  
 [

  X ]     QUARTERLY REPORT PURSUANT TO

  SECTION 13 OR 15(d) OF THE SECURITIES



  


  
            

  EXCHANGE ACT OF 1934


  



  


  
            

  For the quarterly period ended September 30, 2003






  



  


    
[   

  ]     TRANSITION

  REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


  For the transition period from __________________ to

  ___________________


  
Commission

  File Number:  000-27339


  
 



  



 









  




BINGO.COM,

  INC.



  






(Exact

name of registrant as specified in its charter)



 


















  

    

      
Florida


    		
    

      
 



      


    		
    

      
98-0206369


    		
  

  

    

      
(State

      or other jurisdiction of incorporation or organization)


    		
    

      
 



      


    		
    

      
(I.R.S.

      Employer Identification No.)


    		
  





 







1166

Alberni Street, Suite 1405



Vancouver,

British Columbia,



 Canada, V6E 3Z3


    
(Address

      of Principal Executive Offices)



      



 



(604)

694-0300









  

    

      
 



      


    		
    

      
(Registrant's

      Telephone Number, Including Area Code)

    

    

      
 



      


    		
  




  
Indicate

        by check mark whether the registrant (1) has filed all reports required

        to be filed by Sections 13 or 15(d) of the Securities Exchange Act of

        1934 during the preceding 12 months (or for such shorter period that the

        registrant was required to file such reports), and (2) has been subject

        to such filing requirements for the past 90 days.



  


        
Yes

        X       No





        




        
 





        


        
APPLICABLE

        ONLY TO CORPORATE ISSUERS





        


        
The

        number of outstanding shares of the Registrant's Common Stock, par value

        $0.001 per share, was 11,104,608 as of November 12, 2003.





        


        
 





        


    
 


    
BINGO.

    COM, INC.


  
QUARTERLY

  REPORT ON FORM 10-Q


  
FOR

  THE PERIOD ENDED SEPTEMBER 30, 2003


  
 TABLE

  OF CONTENTS



  



  


  
 



  


    































































































      

        PART I - FINANCIAL INFORMATION
        

          
 2

      

      

        ITEM 1.
        Financial Statements. 
         2
      

      

        CONSOLIDATED BALANCE SHEETS 
         2
      

      

        CONSOLIDATED STATEMENTS OF

          OPERATIONS 		
         3
      

      

        CONSOLIDATED STATEMENTS OF SHAREHOLDERS' DEFICIT   
         4
      

      

        CONSOLIDATED STATEMENTS OF

          CASH FLOWS		
         5
      

      

        ITEM 2.    
        Management's Discussion and Analysis of Financial

          Condition 

          
and Results of Operations

        14
      

      

        ITEM 3.  
        Quantitative and Qualitative

          Disclosures About Market Risk.   		
        20
      

      

        ITEM 4. 
        Controls and Procedures.
        20
      

      

        PART II - OTHER

          INFORMATION		
        21
      

      

        ITEM 1.
        Legal Proceedings 
        21
      

      

        ITEM 2. 
        Changes in Securities and Use of

          Proceeds 		
        22
      

      

        ITEM 3.
        Defaults Upon Senior Securities 
        22
      

      

        ITEM 4.
        Submission of Matters to a Vote of

          Security Holders		
        22
      

      

        ITEM 5.
        Other Information 
        22
      

      

        ITEM 6.
        Exhibits and Reports on Form 8-K
        23
      

      

        SIGNATURES
        25
      

      

        EXHIBITS
        26
      

      

        CERTIFICATES
        26
      

      

        Certification

  pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the

          Sarbanes-Oxley act of 2002 		
        28
      

      

        Exhibit

          10.31 Settlement agreement between and among Roger Ach, Bingo.com,

          Inc., the Lottery Channel, Inc. a/k/a Gamebanc Corporation and Games,

          Inc. and agreement for cross promotion dated October 17, 2003		
        30
      

    


    
 Page 1


  
PART I - FINANCIAL INFORMATION


  
ITEM

  1.                     

  Financial Statements.


  
BINGO.COM,

  INC.



  


  
Consolidated

  Balance Sheets



  


  
 



  


     





















































































































































































































































































































































































  

    

      
 



      


    		
    

      
 



      


    		
    

      
September

      30, 2003



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
December

      31, 2002



      


    		
  

  

    

      
 



      




    		
    

      
 



      


    		
    

      
(Unaudited)



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
(Audited)



      


    		
  

  

    

      
Assets



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
  

  

    

      
Current

      assets:



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
  

  

    

      
  

      Cash and cash equivalents



      


    		
    

      
$



      


    		
    

      
42,131



      


    		
    

      
 



      


    		
    

      
$



      


    		
    

      
14,682



      


    		
  

  

    

      
  

      Accounts receivable



      


    		
    

      
 



      


    		
    

      
44,991



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
5,294



      


    		
  

  

    

      
  

      Inventory



      


    		
    

      
 



      


    		
    

      
715



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
2,631



      


    		
  

  

    

      
  

      Prepaid expenses



      


    		
    

      
 



      


    		
    

      
20,294



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
14,093



      


    		
  

  

    

      
Total

      Current Assets



      


    		
    

      
 



      


    		
    

      
108,131



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
36,700



      


    		
  

  

    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
  

  

    

      
Equipment,

      net



      


    		
    

      
 



      


    		
    

      
73,263



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
127,469



      


    		
  

  

    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
  

  

    

      
Other

      assets



      


    		
    

      
 



      


    		
    

      
11,540



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
29,675



      


    		
  

  

    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
  

  

    

      
Domain

      name rights



      


    		
    

      
 



      


    		
    

      
1,257,241



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
1,257,241



      


    		
  

  

    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
  

  

    

      
Deferred

      tax asset, less valuation allowance of $3,377,636 (2002 - $3,346,803)



      


    		
    

      
 



      


    		
    

      
- 





      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
- 





      


    		
  

  

    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
  

  

    

      
Total

      Assets



      


    		
    

      
$



      


    		
    

      
1,450,175



      


    		
    

      
 



      


    		
    

      
$



      


    		
    

      
1,451,085



      


    		
  

  

    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
  

  

    

      
Liabilities

      and Stockholders' Deficit



      




    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
  

  

    

      
Current

      liabilities:



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
  

  

    

      
  

      Accounts payable



      


    		
    

      
$



      


    		
    

      
610,085



      


    		
    

      
 



      


    		
    

      
$



      


    		
    

      
 

      597,531



      


    		
  

  

    

      
  

      Accounts payable - related party



      


    		
    

      
 



      


    		
    

      
179,672



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
151,075



      


    		
  

  

    

      
  

      Accrued liabilities



      


    		
    

      
 



      


    		
    

      
83,268



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
52,370



      


    		
  

  

    

      
  

      Accrued liabilities - related party



      


    		
    

      
 



      


    		
    

      
326,382



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
209,702



      


    		
  

  

    

      
  

      Unearned revenue



      


    		
    

      
 



      


    		
    

      
37,850



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
12,500



      


    		
  

  

    

      
  

      Loan payable



      


    		
    

      
 



      


    		
    

      
221,881



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
197,134



      


    		
  

  

    

      
  

      Current portion of capital leases



      


    		
    

      
 



      


    		
    

      
510



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
115,536



      


    		
  

  

    

      
Total

      Current Liabilities



      


    		
    

      
 



      


    		
    

      
1,459,648



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
1,335,848



      


    		
  

  

    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
  

  

    

      
Debenture

      payable (Note 4)



      


    		
    

      
 



      


    		
    

      
1,395,000



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
1,395,000



      


    		
  

  

    

      
Less

      warrants - debenture discount



      


    		
    

      
 



      


    		
    

      
(288,051)



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
(372,736)



      


    		
  

  

    

      
Net

      debenture payable



      


    		
    

      
 



      


    		
    

      
1,106,949



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
1,022,264



      


    		
  

  

    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
  

  

    

      
Total

      Liabilities



      


    		
    

      
 



      


    		
    

      
2,566,597



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
2,358,112



      


    		
  

  

    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
  

  

    

      
Commitments

      and contingencies (Note 6)



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
  

  

    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
  

  

    

      
Stockholders'

      Deficit: (Note 5)



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
  

  

    

      
  

      Common stock, $0.001 par value, authorized 50,000,000



      


      
  

      shares; issued and outstanding 11,104,608



      


    		
    

      
 



      


    		
    

      
11,105



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
11,105



      


    		
  

  

    

      
  

      Additional paid-in capital



      


    		
    

      
 



      


    		
    

      
8,231,531



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
8,231,531



      


    		
  

  

    

      
  

      Accumulated deficit



      


    		
    

      
 



      


    		
    

      
(9,334,403)



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
(9,174,243)



      


    		
  

  

    

      
  

      Accumulated other comprehensive loss:



      


      
    

      Foreign currency translation adjustment



      


    		
    

      
 



      


    		
    

      
(24,655)



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
24,580



      


    		
  

  

    

      
Total

      Stockholders' Deficit



      


    		
    

      
 



      


    		
    

      
(1,116,422)



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
(907,027)



      


    		
  

  

    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
    

      
 



      


    		
  

  

    

      
Total

      Liabilities and Stockholders' Deficit