The online bingo site Bingo.com is planning to expand its horizons beyond the United Kingdom and in order to do this they have had to increase their cash flow. This is after all the only way to fund any expansion programme. So what Bingo.com did is place two million common shares on the stock market at thirty cents each. Obviously this was a wise move and the shares were snatched up, raising $600 000 for the company. The new shares were placed under the Regulation S exemptions with non Unites States residents.
Bingo.com is an Anguilla based company that presently has more than 1.8 million registered users, in the very near future they are going to be expanding into a Spanish version of their site and this will give them access to many of the Spanish speaking countries. The will also be introducing payment in other currencies, and it is hoped that these initiatives will are going to be able to expand the market share of the company.
One thing is for sure, there has to be a great deal of faith in Bingo.com for shareholders to want to purchase the shares recently offered and as all these shares were taken up, this shows major confidence in the ability of Bingo.com to come up with the goods.
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