BINGO NATION INC

CIK:0001376316|SEC Filings

Condensed Consolidated Statements of Operations (unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Operating expenses
General and administrative	$ 4,024	$ 5,454	$ 22,020	$ 11,102
Professional fees	13,895	15,405	33,530	33,893
Total operating expenses	17,919	20,859	55,550	44,995
Net loss from operations	(17,919)	(20,859)	(55,550)	(44,995)
Other expenses
Impairment of intangible assets	0	0	(27,500,000)	0
Interest expense	(6,254)	(14,540)	(51,294)	(86,022)
Loss on increased valuation -Series A preferred stock	(12,942,902)	0	(12,942,902)	0
Loss on disposal of subsidiary (Note 3)	(144,423)	0	(144,423)	0
Total other expenses	(13,093,579)	(14,540)	(40,638,619)	(86,022)
Loss from continuing operations	(13,111,498)	(35,399)	(40,694,169)	(131,017)
Discontinued operations
Gain (loss) from discontinued operations (Note 3)	0	(61,613)	(8,930)	168,822
Net income (loss)	$ (13,111,498)	$ (97,012)	$ (40,703,099)	$ 37,805
Earnings (loss) per share	$ (0.43)	$ (0.07)	$ (0.97)	$ 0.03
Continuing operations	(0.43)	(0.03)	(0.97)	(0.09)
Discontinued operations	$ 0.00	$ (0.04)	$ 0.00	$ 0.12
Weighted average shares outstanding	30,622,157	1,408,820	41,996,663	1,408,820

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Operating activities
Net loss for the period	$ (40,694,169)	$ (131,017)
Adjustments to reconcile net income to net cash used in operating activities:
Impairment of intangible assets	27,500,000	0
Loss on increased valuation of Series A preferred stock	12,942,902	0
Non-cash interest expense	50,602	67,595
Changes in operating assets and liabilities:
Prepaid expenses	(16,595)	0
Line of credit	36,500	0
Accounts payable and accrued liabilities	4,647	43,552
Deferred vendor incentive	0	(858)
Net cash used in operating activities	(176,113)	(20,728)
Investing activities
Bank indebtedness	7	0
Cash balance removed on deconsolidation	(1,710)	0
Net cash used in investing activities.	(1,703)	0
Financing activities
Repayments to related parties	120	(95)
Advances for convertible notes payable	32,858	67,595
Net cash provided by financing activities	32,978	67,500
Cash flow from discontinued operations
Net cash provided by (used in) operating activities	144,709	(50,292)
Net cash used in investing activities	0	(796)
Net cash provided by (used in) discontinued operations	144,709	(51,088)
Decrease in cash	(129)	(4,316)
Cash, beginning of period	129	4,469
Cash, end of period	0	153
Non-cash investing and financing activities:
Shares issued for acquisition of intangible assets	27,500,000	0
Supplemental disclosures:
Interest paid	1,502	5,595
Income taxes paid	$ 0	$ 0

Condensed Consolidated Balance Sheets (unaudited) - USD ($)	Dec. 31, 2016	Mar. 31, 2016
Current assets
Cash	$ 0	$ 22
Prepaid expenses (Note 4)	16,595	287
Assets of discontinued operations (Note 3)	0	360
Total current assets	16,595	669
Non-current assets
Assets of discontinued operations (Note 3).,	0	280,291
Total assets	16,595	280,960
Current liabilities
Bank indebtedness	7	0
Line of credit (Note 9)	36,500	0
Accounts payable and accrued liabilities (Note 6)	91,389	66,237
Convertible notes payable (Note 8)	469,370	436,512
Due to related party (Note 10)	300	180
Liabilities of discontinued operations (Note 3)	0	42,862
Total current liabilities	597,566	545,791
Non-current liabilities
Deferred vendor incentive	0	3,049
Liabilities of discontinued operations (Note 3).,	0	85,752
Total non-current liabilities	0	88,801
Total liabilities	597,566	634,592
Stockholders' deficit
Preferred stock Authorized: 100,000,000 preferred shares, $0.001 par value 5,000,000 shares issued and outstanding	5,000	0
Common stock Authorized: 400,000,000 common shares, $0.001 par value 27,633,027 and 2,633,027 shares issued and outstanding, respectively	27,633	2,633
Additional paid-in capital	154,984,905	114,539,145
Deficit	(155,598,509)	(114,895,410)
Total stockholders' deficit	(580,971)	(353,632)
Total liabilities and stockholders' deficit	$ 16,595	$ 280,960