0001318482-16-000014.txt : 20160815 0001318482-16-000014.hdr.sgml : 20160815 20160815125558 ACCESSION NUMBER: 0001318482-16-000014 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 50 CONFORMED PERIOD OF REPORT: 20160630 FILED AS OF DATE: 20160815 DATE AS OF CHANGE: 20160815 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SHOAL GAMES LTD. CENTRAL INDEX KEY: 0001318482 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-AMUSEMENT & RECREATION SERVICES [7900] IRS NUMBER: 000000000 STATE OF INCORPORATION: 1A FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 333-120120-01 FILM NUMBER: 161831361 BUSINESS ADDRESS: STREET 1: HANSA BANK BUILDING STREET 2: GROUND FLOOR, LANDSOME ROAD CITY: THE VALLEY STATE: 1A ZIP: AI2640 BUSINESS PHONE: 6046940300 MAIL ADDRESS: STREET 1: HANSA BANK BUILDING STREET 2: GROUND FLOOR, LANDSOME ROAD CITY: THE VALLEY STATE: 1A ZIP: AI2640 FORMER COMPANY: FORMER CONFORMED NAME: BINGO.COM LTD. DATE OF NAME CHANGE: 20050222 10-Q 1 sglq216.htm SHOAL GAMES LTD. FORM 10Q - Q2 2016

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
 

FORM 10-Q

(Mark one)

[ X ]     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  

 

For the quarterly period ended June 30, 2016

 

[    ]      [    ]     TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE EXCHANGE ACT
                        For the transition period from _____________ to ____________

Commission File Number:  333-120120-01

 

        SHOAL GAMES LTD. 

(Exact name of small business issuer as specified in its charter)

 

ANGUILLA 

 

98-0206369

(State or other jurisdiction of incorporation or organization)

 

(I.R.S. Employer Identification No.)

 

 

National Bank of Anguilla Corporate Building, 1St Floor

St Mary's Road, TV1 02P

The Valley, Anguilla, B.W.I

(Address of principal executive offices) 

 

(264) 461-2646

(Issuer's telephone number)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Sections 13 or 15(d) of the Exchange Act during the past 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 [  ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

Large accelerated filer  [ ]                                                    Accelerated filer                 [  ]

Non-accelerated filer    [ ]                                                   Smaller reporting company  [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).                                                                          Yes [     ]      No [ X ]

APPLICABLE ONLY TO CORPORATE ISSUERS The number of outstanding shares of the Issuer's common stock, no par value per share, was 59,535,637 as of August 15, 2016.   

 

 

 

SHOAL GAMES LTD.

QUARTERLY REPORT ON FORM 10-Q

FOR THE PERIOD ENDED JUNE 30, 2016

 

TABLE OF CONTENTS

PAGE

PART I - FINANCIAL INFORMATION

2

ITEM 1.

Financial Statements 

 2

Consolidated Balance Sheets

2

Consolidated Statements of Operations and Comprehensive Loss

 3

Consolidated Statements of Stockholders' Equity

 4

Consolidated Statements of Cash Flows

5

Notes to the Consolidated Financial Statements

6

ITEM 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

20

ITEM 4T. 

Controls and Procedures.

25

PART II - OTHER INFORMATION

26

ITEM 1.

Legal Proceedings 

26

ITEM 2. 

Unregistered Sales of Equity Securities and Use of Proceeds

26

ITEM 3.

Defaults Upon Senior Securities 

26

ITEM 4.

Submission of Matters to a Vote of Security Holders

26

ITEM 5.

Other Information 

26

ITEM 6.

Exhibits and reports on Form 8-K

27

EXHIBITS

27

SIGNATURES

29

CERTIFICATIONS

30

Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the  Sarbanes-Oxley Act of 2002.

33

 

Page 1

PART I - FINANCIAL INFORMATION

ITEM 1.                      Financial Statements.

SHOAL GAMES LTD. and Subsidiaries

Consolidated Balance Sheets

(Unaudited)

 

As at

 

June 30, 2016

 

 

December 31, 2015

 

 

 

 

 

 

Assets

 

 

 

 

 

Current assets:

 

 

 

 

 

   Cash

$

187,516

 

$

570,086

   Accounts receivable less allowance for doubtful

   accounts $nil  (December 31, 2015 - $nil)

 

37,869

 

 

44,948

   Prepaid expenses (Note 3)

 

864,917

 

 

17,205

Total Current Assets

 

1,090,302

 

 

632,239

 

 

 

 

 

 

Equipment, net

 

5,314

 

 

6,314

 

 

 

 

 

 

Other assets (Note 4)

 

241,006

 

 

482,013

 

 

 

 

 

 

Security deposits

 

9,613

 

 

8,960

 

 

 

 

 

 

Deferred tax asset, less valuation allowance of $15,692 (December 31, 2015 - $17,898) (Note 8)

 

 

 

 

 

 

 

 

 

Total Assets

$

1,346,235

 

$

1,129,526

 

 

 

 

 

 

Liabilities and Stockholders' Equity

 

 

 

 

 

Current liabilities:

 

 

 

 

 

   Accounts payable

$

54,495

 

$

74,200

   Accrued liabilities

 

62,318

 

 

71,026

   Accounts payable and accrued liabilities - related

   party (Note 9)

 

19,170

 

 

32,566

Total Current Liabilities

 

135,983

 

 

177,792

 

 

 

 

 

 

Commitments (Note 7)

 

 

 

 

 

 

 

 

 

 

 

Stockholders' equity (Note 6):

 

 

 

 

 

   Common stock, no par value, unlimited shares

   authorized, 59,535,637 shares issued and

    outstanding

   (December 31, 2015 - 56,197,703)

 

20,847,644

 

 

19,334,290

   Accumulated deficit

 

(19,661,972)

 

 

(18,407,136)

   Accumulated other comprehensive income:

     Foreign currency translation adjustment

 

24,580

 

 

24,580

Total Stockholders' Equity

 

1,210,252

 

 

951,734

 

 

 

 

 

 

Total Liabilities and Stockholders' Equity

$

1,346,235

 

$

1,129,526

             

See accompanying notes to the consolidated financial statements.

Page 2

SHOAL GAMES LTD. and Subsidiaries

Consolidated Statements of Operations and Comprehensive Loss

For Periods Ended June 30, 2016 and 2015

(Unaudited)

 

 

Six Months ended June 30, 2016

 

Six Months ended June 30, 2015

 

Three Months ended June 30, 2016

 

Three Months ended June 30, 2015

 

 

 

 

 

 

 

 

 

Total revenue

$

188,380

$

14,945

$

77,821

$

6,253

 

 

 

 

 

 

 

 

 

Cost of sales:

 

 

 

 

 

 

 

 

  Trophy Bingo amortization (Note 4)

 

241,007

 

241,006

 

120,504

 

120,503

Total cost of sales

 

241,007

 

241,006

 

120,504

 

120,503

 

 

 

 

 

 

 

 

 

Gross loss

 

(52,627)

 

(226,061)

 

(42,683)

 

(114,250)

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

   Depreciation and amortization

 

1,000

 

1,526

 

500

 

763

   Directors fees

 

4,000

 

4,000

 

2,000

 

2,000

   General and administrative

 

120,604

 

239,561

 

34,410

 

121,867

   Salaries, wages, consultants and

   benefits

 

219,020

 

220,820

 

105,887

 

108,247

   Selling and marketing

 

368,345

 

75,138

 

166,758

 

28,862

  Trophy Bingo development (Note 4)

 

468,917

 

631,654

 

251,534

 

318,617

Total operating expenses

 

1,181,886

 

1,172,699

 

561,089

 

580,356

 

 

 

 

 

 

 

 

 

Loss before other income (expense) and income taxes

 

(1,234,513)

 

(1,398,760)

 

(603,772)

 

(694,606)

 

 

 

 

 

 

 

 

 

Other income (expense):

 

 

 

 

 

 

 

 

   Foreign exchange gain (loss)

 

(20,433)

 

(6,255)

 

(17,222)

 

27,835

   Interest and other income

 

101

 

538

 

17

 

259

 

 

 

 

 

 

 

 

 

Loss from continuing operations before income taxes

 

(1,254,845)

 

(1,404,477)

 

(620,977)

 

(666,512)

 

 

 

 

 

 

 

 

 

Income tax recovery

 

9

 

-

 

9

 

-

Loss from continuing operations

 

(1,254,836)

 

(1,404,477)

 

(620,968)

 

(666,512)

 

 

 

 

 

 

 

 

 

Discontinued operations: (Note 5)

 

 

 

 

 

 

 

 

   Gain from the sale of the domain

   name

 

-

 

16,305

 

-

 

-

Loss after tax

$

(1,254,836)

$

(1,388,172)

$

(620,968)

$

(666,512)

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss)

 

-

 

-

 

-

 

-

 

 

 

 

 

 

 

 

 

Comprehensive loss

$

(1,254,836)

$

(1,388,172)

$

(620,968)

$

(666,512)

 

 

 

 

 

 

 

 

 

Basic and diluted profit (loss) per common share

 

 

 

 

 

 

 

 

Continuing operations

$

(0.02)

$

(0.02)

$

(0.01)

$

(0.01)

Discontinued operations

 

-

 

0.00

 

-

 

-

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding, basic

 

56,829,054

 

55,682,703

 

57,474,435

 

55,682,703

Weighted average common shares outstanding, diluted

 

56,829,054

 

55,682,703

 

57,474,435

 

55,682,703

 

See accompanying notes to the consolidated financial statements.

Page 3

SHOAL GAMES LTD. and Subsidiaries

Consolidated Statements of Stockholders' Equity 

For the period ended June 30, 2016

(Unaudited)

 

Common stock

 

Accumulated Other Comprehensive income

 

 

Shares

Amount

Accumulated Deficit

Foreign currency translation adjustment

Total Stockholders' Equity

Balance, December 31, 2015

56,197,703

$19,334,290

$(18,407,136)

$ 24,580

$951,734

 

 

 

 

 

 

Private placement, net of issuance expenses

3,337,934

1,513,354

-

-

1,513,354

 

 

 

 

 

 

   Net loss

-

-

(1,254,836)

-

(1,254,836)

Balance, June 30, 2016

59,535,637

$20,847,644

$ (19,661,972)

$ 24,580

$1,210,252

       

 

 

See accompanying notes to the consolidated financial statements.

Page 4

SHOAL GAMES LTD. and Subsidiaries

Consolidated Statements of Cash Flows

For the Six month period ended June 30,

(Unaudited)

 

 

 

2016

 

2015

Cash flows from operating activities:

 

 

 

 

 

   Net loss

 

$

(1,254,836)

$

(1,388,172)

   Adjustments to reconcile net loss to net cash

   used in operating activities:

 

 

 

 

 

      Depreciation and amortization

 

 

1,000

 

1,526

      Trophy Bingo amortization

 

 

241,007

 

241,006

     Gain from the sale of the domain name

 

 

-

 

(16,305)

   Changes in operating assets and liabilities:

 

 

 

 

 

      Accounts receivable

 

 

7,079

 

108,750

      Prepaid expenses

 

 

(847,712)

 

4,164

      Security deposits

 

 

(653)

 

609

      Accounts payable and accrued liabilities

 

 

(41,809)

 

6,732

   Net cash used in operating activities

 

 

(1,895,924)

 

(1,041,690)

 

 

 

 

 

 

Cash flows from investing activities:

 

 

 

 

 

   Acquisition of equipment

 

 

-

 

(272)

   Software development

 

 

-

 

-

   Net cash used in investing activities

 

 

-

 

(272)

 

 

 

 

 

 

Cash flows from financing activities:

 

 

 

 

 

   Proceeds from Private placement, net of issuance costs

 

 

1,513,354

 

-

Net cash provided by financing activities

 

 

1,513,354

 

-

 

 

 

 

 

 

Change in cash

 

 

(382,570)

 

(1,041,962)

 

 

 

 

 

 

Cash, beginning of period

 

 

570,086

 

2,876,386

Cash, end of period

 

$

187,516

$

1,834,424

 

 

 

 

 

 

Supplementary information:

 

 

 

 

 

   Interest paid

 

$

  - 

$

  - 

   Income taxes paid

 

$

-

$

-

Non-cash financing activity

 

$

-

$

-

Non-cash investing activity

 

$

-

$

-

 

 

 

 

 

 

See accompanying notes to the consolidated financial statements.
 

 Page 5

SHOAL GAMES LTD. and Subsidiaries

Notes to Consolidated Financial Statements

Six Months ended June 30, 2016 and 2015

(Unaudited)

   

1.         Basis of Presentation:

The accompanying unaudited financial statements have been prepared by Shoal Games Ltd. ("the Company") in conformity with accounting principles generally accepted in the United States of America ("US GAAP") applicable to interim financial information and with the rules and regulations of the United States Securities and Exchange Commission.  Accordingly, certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed, or omitted, pursuant to such rules and regulations.  In the opinion of management, the unaudited interim consolidated financial statements include all adjustments necessary for the fair presentation of the results of the interim periods presented.  All adjustments are of a normal recurring nature, except as otherwise noted below.  These unaudited interim consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and notes thereto for the year ended December 31, 2015, included in the Company's Annual Report on Form 10-K, filed March 17, 2016, with the Securities and Exchange Commission.  The results of operations for the interim periods are not necessarily indicative of the results of operations for any other interim period or for a full fiscal year.

Continuing operations

These unaudited interim consolidated financial statements have been prepared on the going concern basis, which presumes the realization of assets and the settlement of liabilities in the normal course of operations.  The application of the going concern basis is dependent upon the Company achieving profitable operations to generate sufficient cash flows to fund continued operations, or, in the absence of adequate cash flows from operations, obtaining additional financing.  The Company has reported losses from operations for the quarters ended June 30, 2016 and 2015, and has an accumulated deficit of $19,661,972 as at June 30, 2016.  This raises substantial doubt about the Company's ability to continue as a going concern.

In view of the matters described in the preceding paragraph, recoverability of a major portion of the recorded asset amounts and settlement of the liability amounts shown in the accompanying balance sheets is dependent upon continued operations of the Company, which in turn is dependent upon the Company's ability to succeed in its future operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.

Management continues to review operations in order to identify additional strategies designed to generate cash flow, improve the Company's financial position, and enable the timely discharge of the Company's obligations.  If management is unable to identify sources of additional cash flow in the short term, it may be required to further reduce or limit operations.

 

 Page 6

SHOAL GAMES LTD. and Subsidiaries

Notes to Consolidated Financial Statements

Six Months ended June 30, 2016 and 2015

(Unaudited)

   

2.         Summary of significant accounting policies:

(a)       Basis of presentation:

These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP") applicable to annual financial information and with the rules and regulations of the United States Securities and Exchange Commission. The financial statements include the accounts of the Company's wholly-owned subsidiaries, Shoal Media (Canada) Inc. (registered in British Columbia, Canada), Coral Reef Marketing Inc. (registered in Anguilla), Bingo.com (Antigua) Inc., Bingo.com (Wyoming) Inc., Bingo Acquisition Corp, Shoal Media Inc. (registered in Anguilla), and the 99% owned subsidiary, Shoal Games (UK) Plc (registered in the United Kingdom). During the quarter ended March 31, 2016, English Bay Office Management Limited changed its name to Shoal Media (Canada) Inc. All inter-company balances and transactions have been eliminated in the consolidated financial statements.

(b)   Use of estimates:

The preparation of consolidated financial statements in conformity with U.S. GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and recognized revenues and expenses for the reporting periods.

Significant areas requiring the use of estimates include the valuation of long-lived assets, the collectibility of accounts receivable and the valuation of deferred tax assets.  Actual results may differ significantly from these estimates.

(c)   Revenue recognition:

Trophy Bingo revenues have been recognized from the sale of in-game purchases, net of platform fees, at the time of purchase by the player. The revenue from in-game advertising is recognized when advertising is served to the player.

Advertising revenues, not generated in Trophy Bingo, have been recognized when collection of the amounts are reasonably assured.

(d)   Foreign currency:

The consolidated financial statements are presented in United States dollars, the functional currency of the Company and its subsidiaries. The Company accounts for foreign currency transactions and the translation of foreign currency financial statements under Statement ASC 830, Foreign Currency Matters. Transaction amounts denominated in foreign currencies are translated at exchange rates prevailing at the transaction dates. Carrying values of monetary assets and liabilities are adjusted at each balance sheet date to reflect the exchange rate at that date.

Non-monetary assets and liabilities are translated at the exchange rate on the original transaction date.

 

Page 7

SHOAL GAMES LTD. and Subsidiaries

Notes to Consolidated Financial Statements

Six Months ended June 30, 2016 and 2015

(Unaudited)

   

2.         Summary of significant accounting policies: (Continued)

(d)   Foreign currency: (Continued)

Gains and losses from restatement of foreign currency monetary and non-monetary assets and liabilities are included in net income. Revenues and expenses are translated at the rates of exchange prevailing on the dates such items are recognized in earnings.

(e)   Impairment of long-lived assets and long-lived assets to be disposed of:

The Company accounts for long-lived assets in accordance with the provisions of ASC 360, Property, Plant and Equipment and ASC 350, Intangibles-Goodwill and Others. During the periods presented, the only long-lived assets reported on the Company's consolidated balance sheet are equipment, other assets, and security deposits.  These provisions require that long-lived assets and certain identifiable recorded intangibles be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.  Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset.

If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets.  Assets to be disposed of are reported at the lower of the carrying amount and the fair value less costs to sell.

(g)   Software Development Costs:

Software development costs incurred in the research and development of new software products and enhancements to existing software products for external use are expensed as incurred until technological feasibility has been established. After technological feasibility is established, any software development costs are capitalized and amortized at the greater of the straight-line basis over the estimated economic life of the related product or the ratio that current gross revenues for a product bear to the total of current and anticipated future gross revenues for the related product. Commencing January 1, 2014, the Company obtained technological feasibility and is amortizing the capitalized software development costs over a period of 3 years. The Company performs an annual review of the estimated economic life and the recoverability of such capitalized software costs, using a net realizable value test.

If a determination is made that capitalized amounts are not recoverable based on the estimated cash flows to be generated from the applicable software, any remaining capitalized amounts are written off. Although the Company believes that its approach to estimates and judgments as described herein is reasonable, actual results could differ and the Company may be exposed to increases or decreases in revenue that could be material.  Total software development costs for the development of Trophy Bingo were $4,326,553 as at June 30, 2016 (June 30, 2015 - $3,259,074).

Page 8

SHOAL GAMES LTD. and Subsidiaries

Notes to Consolidated Financial Statements

Six Months ended June 30, 2016 and 2015

(Unaudited)

   

2.         Summary of significant accounting policies: (Continued)

(h)   New accounting pronouncements and changes in accounting policy:

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers and issued subsequent amendments to the initial guidance in August 2015, March 2016, April 2016, and May 2016 within ASU 2015-04, ASU 2016-08, ASU 2016-10, ASU 2016-11 and ASU 2016-12, respectively. The guidance in this update supersedes the revenue recognition requirements in ASC 605, Revenue Recognition, and most industry-specific guidance throughout the Codification. Additionally, this update supersedes some cost guidance included in ASC 605-35, Revenue Recognition - Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (for example, assets within the scope of ASC 360, Property, Plant, and Equipment, and intangible assets, within the scope of ASC 350, Intangibles - Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement in this update. The standard was to be effective for the Company as of January 1, 2017, but in August 2015, the FASB delayed the effective date of the new revenue accounting standard to January 1, 2019, and would permit early adoption as of the original effective date. Earlier adoption is not otherwise permitted for public entities. An entity can apply the revenue standard retrospectively to each prior reporting period presented (full retrospective method) or retrospectively with the cumulative effect of initially applying the standard recognized at the date of initial application in retained earnings (simplified transition method). The Company is currently assessing the impact of this update on its consolidated financial statements. The Company has not yet selected an adoption date, a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

In June 2014, the FASB issued ASU No. 2014-12, Compensation-Stock Compensation. This guidance requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the periods for which the requisite service has already been rendered. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and can be applied either prospectively or retrospectively to all awards outstanding as of the beginning of the earliest annual period presented as an adjustment to opening retained earnings. Early adoption is permitted. The adoption of ASU 2014-12 did not have a material impact on our financial condition, liquidity or results of operations.

In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern ("ASU 2014-15"). ASU 2014-15 provides guidance about

Page 9

SHOAL GAMES LTD. and Subsidiaries

Notes to Consolidated Financial Statements

Six Months ended June 30, 2016 and 2015

(Unaudited)

   

2.         Summary of significant accounting policies: (Continued)

(h)   New accounting pronouncements and changes in accounting policy:

management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and sets rules for how this information should be disclosed in the financial statements. ASU 2014-15 is effective for annual periods ending after December 15, 2016 and interim periods thereafter. Early adoption is permitted. The Company is evaluating the effect of ASU 2014-15 on our consolidated financial condition and results of operations.

In November 2014, the FASB issued ASU No. 2014-16, Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity. This standard requires an entity to "determine the nature of the host contract by considering all stated and implied substantive terms and features of the hybrid financial instrument, weighing each term and feature on the basis of the relevant facts and circumstances which the hybrid financial instrument was issued or acquired and the potential outcome of the hybrid financial instrument.  ASU 2014-16 is effective for annual periods ending after December 15, 2015 and interim periods thereafter. Early adoption is permitted. The adoption of ASU 2014-16 did not have a material impact on our financial condition, liquidity or results of operations.

In January 2015, the FASB issued ASU 2015-01, which eliminates from GAAP the concept of extraordinary items. If an event or transaction meets the criteria for extraordinary classification, it is segregated from the results of ordinary operations and is shown as a separate item in the income statement, net of tax. ASU 2015-01 is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. The adoption of ASU 2015-01 did not have a material impact on our financial condition, liquidity or results of operations.

In February 2015, the FASB issued ASU 2015-02, which provides guidance for reporting entities that are required to evaluate whether they should consolidate certain legal entities. In accordance with ASU 2015-02, all legal entities are subject to reevaluation under the revised consolidation model. ASU 2015-02 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. The adoption of ASU 2015-02 did not have a material impact on our financial condition, liquidity or results of operations.

On April 1, 2015, the FASB voted to defer the effective date of ASU No. 2014-09, which outlines a single comprehensive model for entities to use in accounting for revenues arising from contracts with customers and notes that lease contracts with customers are a scope exception. Public business entities may elect to adopt the amendments as of the original effective date; however, if the proposed deferral is approved, adoption is required for annual reporting periods beginning after December 15, 2017. We are currently assessing the impact of the guidance on our consolidated financial statements.

Page 10

SHOAL GAMES LTD. and Subsidiaries

Notes to Consolidated Financial Statements

Six Months ended June 30, 2016 and 2015

(Unaudited)

   

2.         Summary of significant accounting policies: (Continued)

(h)   New accounting pronouncements and changes in accounting policy:

On April 17, 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs , which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability.  Currently, debt issuance costs are recorded as an asset and amortization of these deferred financing costs is recorded in interest expense.  Under the new standard, debt issuance costs will continue to be amortized over the life of the debt instrument and amortization will continue to be recorded in interest expense.  The new standard is effective for the Company on January 1, 2016 and will be applied on a retrospective basis.  The adoption of ASU 2015-03 did not have a material impact on our financial condition, liquidity or results of operations.

The FASB has issued ASU 2015-05, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement.  The amendments in ASU 2015-05 provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The amendments do not change the accounting for a customer's accounting for service contracts. As a result of the amendments, all software licenses within the scope of Subtopic 350-40 will be accounted for consistent with other licenses of intangible assets.  ASU 2015-05 is effective for public entities for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. The adoption of ASU 2015-05 did not have a material impact on our financial condition, liquidity or results of operations.

In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments guidance to simplify the accounting for adjustments in a business combination. An acquirer should recognize adjustments to provisional amounts with a corresponding adjustment of goodwill, as well as the effect on earnings of changes in depreciation, amortization or other income effects, in the reporting period in which the adjustments are identified as if the accounting had been completed at the acquisition date. Disclosure is required, by line item, of the amount recorded in current period earnings that would have been recorded in previous reporting periods. This guidance is effective for fiscal years and interim periods beginning after December 15, 2015, and requires prospective application. Early adoption is permitted. The adoption of ASU 2015-16 did not have a material impact on our financial condition, liquidity or results of operations.

In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes , which requires deferred income tax liabilities and assets to be classified as noncurrent on the balance sheet rather than being separated into current and

Page 11

SHOAL GAMES LTD. and Subsidiaries

Notes to Consolidated Financial Statements

Six Months ended June 30, 2016 and 2015

(Unaudited)

   

2.         Summary of significant accounting policies: (Continued)

(h)   New accounting pronouncements and changes in accounting policy:

noncurrent. The guidance is effective for public entities for annual periods beginning after December 15, 2016, and interim periods within those annual periods with early adoption being permitted. The Company is still assessing the potential impact of ASU 2015-17 on its consolidated financial statements.

In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities ("ASU 2016-01"), which requires that equity investments, except for those accounted for under the equity method or those that result in consolidation of the investee, be measured at fair value, with subsequent changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. ASU 2016-01 also impacts the presentation and disclosure requirements for financial instruments. ASU 2016-01 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted only for certain provisions. The Company does not expect that the adoption of ASU 2016-01 will have a material effect on its consolidated financial statements.

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to recognize most leases on the balance sheet. This ASU requires lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Lessees are permitted to make an accounting policy election to not recognize the asset and liability for leases with a term of twelve months or less. The ASU does not significantly change the lessees' recognition, measurement and presentation of expenses and cash flows from the previous accounting standard. Lessors' accounting under the ASC is largely unchanged from the previous accounting standard. In addition, the ASU expands the disclosure requirements of lease arrangements. Lessees and lessors will use a modified retrospective transition approach, which includes a number of practical expedients. The provisions of this guidance are effective for annual periods beginning after December 15, 2018, and interim periods within those years, with early adoption permitted. Management is evaluating the requirements of this guidance and has not yet determined the impact of the adoption on the Company's financial position or results of operations.

Page 12

SHOAL GAMES LTD. and Subsidiaries

Notes to Consolidated Financial Statements

Six Months ended June 30, 2016 and 2015

(Unaudited)

   

2.         Summary of significant accounting policies: (Continued)

(h)   New accounting pronouncements and changes in accounting policy:

In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting ("ASU 2016-09"), which addresses how companies account for certain aspects of share-based payments to employees. Entities will be required to recognize the income tax effects of awards in the statement of income when the awards vest or are settled, and to present excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity. The ASU also addresses such areas as an accounting policy election for forfeitures and the amount an employer can withhold to cover income taxes and still qualify for equity classification. The amendments in this ASU will be effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard on its consolidated financial statements.

There have been no other recent accounting standards, or changes in accounting standards, during the quarter ended June 30, 2016, as compared to the recent accounting standards described in the Annual Report, that are of material significance, or have potential material significance, to us.

 (i)   Financial instruments:

(i)  Fair values:

The fair value of accounts receivable, accounts payable, accrued liabilities and accounts payable and accrued liabilities - related party approximate their financial statement carrying amounts due to the short-term maturities of these instruments.  Cash is carried at fair value using a level 1 fair value measurement.

In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little, if any, market activity for the asset.  The Company's cash was measured using Level 1 inputs.

(ii)  Foreign currency risk:

The Company operates internationally, which gives rise to the risk that cash flows may be adversely impacted by exchange rate fluctuations.  The Company has not entered into any forward exchange contracts or other derivative instrument to hedge against foreign exchange risk.

 

 Page 13

SHOAL GAMES LTD. and Subsidiaries

Notes to Consolidated Financial Statements

Six Months ended June 30, 2016 and 2015

(Unaudited)

   

3. Prepaid expenses

During the quarter ended June 30, 2016, the Company prepaid $863,660 for future development expenses for Trophy Bingo and Garfield's Bingo. During the quarter ended June 30, 2016, $47,222 was expensed. As at June 30, 2016, there is a balance of $816,438 for future development. In addition, the Company has $27,224 of prepaid legal fees for the rights issue. The Company has other prepaid expenses of $21,255 as at June 30, 2016.

4.    Other assets:

During the year ended December 31, 2012, the Company commenced development of a social bingo game. During the quarter ended March 31, 2014, the Company launched Trophy Bingo on Android in selected markets. The Company ceased to capitalize the development costs and commenced the amortization of the capitalized development costs over a period of three years.

June 30, 2016

 

Capitalized Expenses

 

Accumulated amortization

 

Net book

Value

 

 

 

 

 

 

 

Trophy Bingo capitalized development expenses

$

1,446,038

$

1,205,032

$

241,006

 

December 31, 2015

 

Capitalized Expenses

 

Accumulated amortization

 

Net book

Value

 

 

 

 

 

 

 

Trophy Bingo capitalized development expenses

$

1,446,038

$

964,025

$

482,013

During the 2015 fiscal year, the Company expensed $1,230,216 in development costs. During the quarter ended June 30, 2016, the Company expensed $251,534 (June 30, 2015 - $318,617) in development costs. The Company has incurred $4,326,553 in total development expenses as at June 30, 2016.

5.   Discontinued operations

Effective December 31, 2014, the Company sold the www.bingo.com domain name to Unibet Group plc. for cash consideration of $2,000,000 and redemption of the 15,000,000 common shares of the Company, which were held by Unibet Group plc, at a price of $0.40 per share. The 15,000,000 common shares held by Unibet have been returned to the Company's treasury and were cancelled.

In addition, the Company disposed its cash bingo business to Unibet Group plc. The company recognized the gain on the sale of the cash bingo business of $16,305 in the quarter ended March 31, 2015.

6.    Stockholders' Equity:

(a)        Common stock issuances:

No shares were issued during the quarter ended March 31, 2016.

During the quarter ended June 30, 2016, the Company closed two private placements for 3,337,934 common shares at $0.60 per share which raised proceeds of CAD$ 2,002,760, net of issuance costs of $49,124.

Page 14

SHOAL GAMES LTD. and Subsidiaries

Notes to Consolidated Financial Statements

Six Months ended June 30, 2016 and 2015

(Unaudited)

   

6.    Stockholders' Equity: (Continued)

(b)        Stock option plans:

No options were granted or exercised during the period ended June 30, 2016.

(c)        Escrow shares

In conjunction with the Listing Application for the TSX-V listing, the Company's major shareholders were required to place 33,909,104 common shares of the Company in escrow under the terms of a TSX-V Tier 1 issuer. The escrow shares will be released in thirty three percent (33%) tranches on the dates that are six, twelve and eighteen months after the listing date. 11,303,035 was released during the year end December 31, 2015. The Escrow Shares will be released as follows:

 

 

Number of shares

 

 

 

Balance December 31, 2015

 

22,606,069

 

 

 

Released in the quarter ending June 30, 2016

 

(11,303,035)

 

 

 

Balance June 30, 2016

 

11,303,034

 

 

 

Shares eligible for release in 2016

 

(11,303,034)

 

 

 

Balance December 31, 2016

 

-

7.   Commitments:

The Company leases office facilities in Vancouver, British Columbia, Canada, and The Valley, Anguilla, British West Indies. These office facilities are leased under operating lease agreements. The Canadian operating lease expires on April 30, 2017. The Anguillan operating lease automatically renews every 3 months unless 3 months notice is given.

Minimum lease payments under these operating leases are approximately as follows:

 

 

 

2016

$

8,561

2017

 

5,207

 

 

 

The Company paid rent expense totaling $5,628 for the quarter ended June 30, 2016 (June 30, 2015 - $5,749). 

The Company has a management consulting agreement with T.M. Williams (Row), Inc., an Anguilla incorporated company, and Mr. Williams, a related party, for a consultancy payment based on the Company's performance with a minimum of $11,000 and a maximum of $25,000 per month.

The Company has a management consulting agreement with Jayska Consulting Ltd. and Mr. J. M. Williams, Chief Executive Officer of Shoal Games Ltd. for the provision of services of Mr. J. M. Williams as Chief Executive Officer of the Company. The Consulting agreement provides for a consultancy payment of GBP5,000 per month payable in arrears.

Page 15

SHOAL GAMES LTD. and Subsidiaries

Notes to Consolidated Financial Statements

Six Months ended June 30, 2016 and 2015

(Unaudited)

   

7.   Commitments: (Continued)

The Company has a management consulting agreement with LVA Media Inc. and Mr. J. M. Williams, for the provision of services of Mr. J. M. Williams as Chief Executive Officer of Shoal Games Ltd. The Consulting agreement provides for a consultancy payment based on the Company's performance with a minimum of $7,500 and a maximum of $25,000 per month.

8.   Income Taxes:

Shoal Games Ltd. is domiciled in the tax-free jurisdiction of Anguilla, British West Indies. However certain of the Company's subsidiaries incur income taxation.

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at June 30, 2016, and December 31, 2015, are presented below:

 

 

June 30,

2016

 

December 31, 2015

Deferred tax assets:

 

 

 

 

   Net operating loss carry forwards

$

15,692

$

17,898

 

 

 

 

 

   Valuation Allowance

 

(15,692)

 

(17,898)

 

$

$

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those differences become deductible.

Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in assessing the realizability of deferred tax assets.

9.    Related Party Transactions:

The Company has a liability of $nil (December 31, 2015 - $2,391) to a company owned by a current director and officer of the Company for payment of services rendered of $33,000 (June 30, 2015 - $33,000) by the current director and officer of the Company.

The Company has a liability of $1,554 (December 31, 2015 - $6,507) to a current director and officer of the Company for expenses incurred.

The Company has a liability of $nil (December 31, 2015 - $14,804) to a company owned by a current director and officer of the Company for payment of services rendered of $21,514 (June 30, 2015 - $22,972) by the current director and officer of the Company.

The Company has a liability of $nil (December 31, 2015 - $nil) to a company owned by a current director and officer of the Company for payment of services rendered of $22,500 (June 30, 2015 - $22,500) by the current director and officer of the Company.

Page 16

SHOAL GAMES LTD. and Subsidiaries

Notes to Consolidated Financial Statements

Six Months ended June 30, 2016 and 2015

(Unaudited)

   

9.    Related Party Transactions: (Continued)

The Company has a liability of $3,474 (December 31, 2015 - $831) to a company owned by a current director of the Company for payment of services rendered of $3,394 (June 30, 2015 - $3,077) by the current director of the Company.

The Company has a liability of $10,500 (December 31, 2015 - $6,500), to independent directors of the Company for payment of services rendered. During the quarter ended June 30, 2016, the Company accrued $2,000 (June 30, 2015 - $2,000) to the independent directors in director fees.

The Company has a liability of $3,642 (December 31, 2015 - $1,533), to an officer of the Company for payment of services rendered and expenses incurred of $13,498 (June 30, 2015 - $15,777) by the officer of the Company.

The related party transactions are in the normal course of operations and were measured at the exchange amount, which is the amount of consideration established and agreed to by the related party.

10. Segmented information:

Revenue

During the quarter ended June 30, 2016, the Company operated in one reportable business segment from the sale of in-app purchases on Trophy Bingo.

The Company had the following revenue by geographical region.

 

 

Six Months ended June 30, 2016

 

Six Months ended June 30, 2015

 

Three Months ended June 30, 2016

 

Three Months ended June 30, 2015

 

 

 

 

 

 

 

 

 

Total revenue from continuing operations

 

 

 

 

 

 

Western Europe

$

24,135

$

1,570

$

9,558

$

437

Central, Eastern and Southern Europe

 

27

 

37

 

17

 

36

Nordics

 

642

 

158

 

234

 

8

North America

 

153,768

 

4,885

 

63,920

 

1,899

Other

 

9,808

 

8,295

 

4,092

 

3,873

Total revenue from continuing operations

$

188,380

$

14,945

$

77,821

$

6,253

 

 

 

 

 

 

 

 

 

 

Equipment

The Company's equipment is located as follows:

Net Book Value

 

June 30, 2016

 

December 31, 2015

 

 

 

 

 

Anguilla

$

1,175

$

1,410

Canada

 

2,082

 

2,436

United Kingdom

 

1,528

 

1,834

United States of America

 

529

 

634

 

$

5,314

$

6,314

 

 Page 17

SHOAL GAMES LTD. and Subsidiaries

Notes to Consolidated Financial Statements

Six Months ended June 30, 2016 and 2015

(Unaudited)

   

11.       Concentrations

Major customers

For the quarters ended June 30, 2016 and 2015 the Company sold in-app purchases on its social bingo site, Trophy Bingo. There was no single player who had purchased more than 10% of the Trophy Bingo revenue.

12.  Concentrations of Credit Risk:

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and accounts receivable.  The Company places its cash with high quality financial institutions and limits the amount of credit exposure with any one institution.

The Company currently maintains a substantial portion of its day-to-day operating cash balances at financial institutions. At June 30, 2016, the Company had total cash balances of $187,516 (December 31, 2015 - $570,086) at financial institutions, where $61,398 (December 31, 2015 - $303,983) is in excess of federally insured limits.

As of June 30, 2016, the Company had two customers totaling $24,030, who accounted for total accounts receivable greater than 10%. As of December 31, 2015, the Company had three customers, totaling $40,818 who accounted for greater than 10% of the total accounts receivable.

The Company controls credit risk through monitoring procedures and receiving prepayments of cash for services rendered.  The Company performs credit evaluations of its customers but generally does not require collateral to support accounts receivable.

 Page 18

ITEM 2.         Management's Discussion and Analysis of Financial Condition and Results of Operations

The following Management's Discussion and Analysis or Plan of Operation contains forward-looking statements that involve risks and uncertainties, as described below.  Shoal Games Ltd.'s (the "Company", "we", or "us") actual results could differ materially from those anticipated in these forward-looking statements.  The following discussion should be read in conjunction with the unaudited interim consolidated financial statements and notes thereto included in Part I - Item 1 of this Quarterly Report, and the audited consolidated financial statements and notes thereto and the Management Discussion and Analysis or plan of Operations included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015.

FORWARD LOOKING STATEMENTS

All statements contained in this Quarterly Report on Form 10-Q and the documents incorporated herein by reference, as well as statements made in press releases and oral statements that may be made by us or by officers, directors or employees acting on our behalf, that are not statements of historical fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause our actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Readers should consider statements that include the terms "believe," "belief," "expect," "plan," "anticipate," "intend" or the like to be uncertain and forward-looking. In addition, all statements, trends, analyses and other information contained in this report relative to trends in net sales, gross margin, anticipated expense levels and liquidity and capital resources, constitute forward-looking statements. Particular attention should be paid to the facts of our limited operating history, the unpredictability of our future revenues, our need for and the availability of capital resources, the evolving nature of our business model, and the risks associated with systems development, management of growth and business expansion.  Except as required by law, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. All cautionary statements made herein should be read as being applicable to all forward-looking statements wherever they appear.  Readers should consider the risks more fully described in our Annual Report on Form 10-K for the year ended December 31, 2015, filed with the Securities and Exchange Commission (the "SEC") and should not place undue reliance on any forward-looking statements.

 Page 19

OVERVIEW

Shoal Games Ltd. (the "Company") owns and markets a non-gambling social bingo game called Trophy Bingo and a five year license to Garfield's Bingo.  Trophy Bingo is an innovative free-to-play mobile game live in the Apple, Google and Amazon App Stores.  Trophy Bingo brings unique gameplay and industry leading monetization techniques to the bingo category which is both high growth and high value.  The game is free to download and supports in-app purchases and in-game advertising for players who want to engage with the premium features contained in the game.  In-game purchases are transactions made from within a mobile game that are processed by the platform provider (Apple iOS; Google Android; Amazon Android).  The worldwide full launch and marketing of Trophy Bingo commenced in the third quarter of 2015 when the latest version of Trophy Bingo was released world-wide in the Apple App Store and Google Play Store on all supported mobile phones and tablet devices.

The Company generates its main source of revenue from players making in-app purchases in Trophy Bingo via the Google Play Store, the Apple App Store and the Amazon Store. An additional source of revenue comes from serving advertising to our user demographic inside the Trophy Bingo game.  Through relationships we have with advertising aggregators and providers, companies pay to have their products and services promoted in our App.

Upon obtaining the license to Garfield's Bingo in late April 2016, the Company reviewed its software development and player acquisition strategies.  Upon completion of the review and relevant modeling, and in light of the delays occurred in completing it's private placement funding, the Company decided to significantly reduce its player acquisition cost of marketing with Trophy Bingo to preserve capital and to increase its development resources dedicated to improving the play mechanics of the Trophy Bingo platform while simultaneously building out Garfield's Bingo utilizing the same platform and game mechanics  but with a different story line and digital art focused on maximizing the power of the Garfield brand worldwide, including Asia. We are projecting the world wide launch of Garfield's Bingo in Q4, 2016.

Prior to December 31, 2014 the Company provided a variety of Internet games plus other forms of entertainment, including an online community, chat rooms, and more. This portion of the business was sold to Unibet, plc on December 31, 2014 and can be viewed at www.bingo.com.

We conducted a beta test launch of Trophy Bingo in May 2013, followed by a global soft launch of the enhanced game on Android in August, 2014 and on iOS in September 2014.  Trophy Bingo was released worldwide in the Google Play Store on August 12, 2015, in the Apple App Store on September 3, 2015, and in the Amazon Appstore on November 30, 2015.

On December 31, 2014, we sold the gambling business and the bingo.com domain name to Unibet Group plc, and focused the business on the development and marketing of our innovative social bingo game, Trophy Bingo.  During the year ended December 31, 2015, the Company changed its name to Shoal Games Ltd.  

We have made a significant investment in the development of Trophy Bingo, and previously in our Internet games plus other forms of entertainment, including an online community, chat rooms, and more.  As a result we have incurred significant losses since inception, and as of June 30, 2016, had an accumulated deficit of $19,661,972.

Effective July 2, 2015, the Company commenced trading on the TSX Venture Exchange as a tier 2 Technology Issuer under the trading symbol "SGW".  The Company also trades on the OTCQB under the trading symbol "SGLDF". 

CRITICAL ACCOUNTING POLICIES

Our discussion and analysis of our financial condition and results of operations are based upon our financial statements, which except for lack of all detailed note disclosures, have been prepared in

 Page 20

conformity with accounting principles generally accepted in the United States. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, management evaluates these judgments and estimates, including whether there are any uncertainties as to compliance with the revenue recognition criteria described below, and recoverability of long-lived assets, as well as the assessment as to whether there are contingent assets and liabilities that should be recognized or disclosed for the consolidated financial statements to fairly present the information required to be set forth therein. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

We consider the following accounting policies to be both those most important to the portrayal of our financial condition and require the most subjective judgment:

- Revenue recognition; 

- Software development

Revenue recognition:

Trophy Bingo revenues have been recognized from the sale of in-game purchases, net of platform fees, at the time of purchase by the player. The revenue from in-game advertising is recognized when advertising is served to the player.

Advertising revenues, not generated in Trophy Bingo, have been recognized when collection of the amounts are reasonably assured.

Software Development Costs: 

Software development costs incurred in the research and development of new software products and enhancements to existing software products for external use are expensed as incurred until technological feasibility has been established. After technological feasibility is established, any software development costs are capitalized and amortized on a straight-line basis over the estimated economic life of the related product. The Company performs an annual review of the estimated economic life and the recoverability of such capitalized software costs. If a determination is made that capitalized amounts are not recoverable based on the estimated cash flows to be generated from the applicable software, any remaining capitalized amounts are written off.  The Company capitalized 100% of its development costs of Trophy Bingo in 2013. Commencing January 1, 2014, the Company commenced amortizing the capitalized software development costs over a period of 3 years and all further development costs have been expensed. The Company performs an annual review of the estimated economic life and the recoverability of such capitalized software costs, using a net realizable value test.

If a determination is made that capitalized amounts are not recoverable based on the estimated cash flows to be generated from the applicable software, any remaining capitalized amounts are written off. Although the Company believes that its approach to estimates and judgments as described herein is reasonable, actual results could differ and the Company may be exposed to increases or decreases in revenue that could be material.  The Company capitalized 100% its development costs of Trophy Bingo in 2013. Commencing January 1, 2014, the Company commenced amortizing the capitalized software development costs over a period of 3 years and all further development costs have been expensed.

Although the Company believes that its approach to estimates and judgments as described herein is reasonable, actual results could differ and the Company may be exposed to increases or decreases in revenue that could be material.  Total software development costs for the development of Trophy Bingo were $4,326,553 as at June 30, 2016 (June 30, 2015 - $3,259,074).

 Page 21

RESULTS OF OPERATIONS

            Revenue

Total revenue from continuing operations for the quarter ended June 30, 2016, increased to $77,821, an increase from revenue from continuing operations of $6,253 for second quarter of 2015 and a decrease of 30% from revenue of $110,559, in the first quarter of 2016. The increase in total revenue compared to the second quarter of fiscal 2015, is due to the Company launching a full global release of a feature complete Trophy Bingo in the Google Play and Apple App Store in the latter half of the third quarter of fiscal 2015 and an increase in players playing Trophy Bingo. The decrease in total revenue compared to the first quarter of fiscal 2016, is due to lower marketing spend whilst the Company completes the development of additional features for Trophy Bingo and the development of Garfield's Bingo. In addition, the Company is preparing for the world wide launch of Garfield's Bingo in Q4, 2016.

            Sales and marketing expenses

Sales and marketing expenses from continuing operations were $166,758 for the quarter ended June 30, 2016, an increase over expenses of $28,862 in the second quarter of 2015 and a decrease of 17% from sales and marketing expenses of $201,587 in the first quarter of 2016. This increase in sales and marketing expenses from continuing operations in the quarter ended June 30, 2016, compared to the second quarter of fiscal 2015 was due to a larger marketing campaign to attract players to the new Trophy Bingo game. The decrease in selling and marketing expenses from continuing operations in the quarter ended June 30, 2016 compared to the first quarter of fiscal 2016, was due to a lower marketing spend for player acquisitions in Trophy Bingo whilst the Company prepares for the launch of planned new features in Trophy Bingo to meet active player demand and to complete the development of Garfield's Bingo. In addition, the Company is preparing for the launch of Garfield's Bingo in Q4 2016.  Selling and marketing expenses from continuing operations principally include publishing services and user acquisition costs to acquire players.

We expect to continue to incur sales and marketing expenses to increase traffic and bring new players to the Trophy Bingo and Garfield's Bingo game. There can be no assurances that these expenditures will result in increased traffic or significant additional revenue.

            General and administrative expenses

General and administrative expenses consist primarily of premises costs for our office, legal and professional fees, and other general corporate and office expenses. General and administrative expenses decreased to $34,410 for the quarter ended June 30, 2016, a decrease of 72% from costs of $121,867 for the second quarter of fiscal 2015 and a decrease of 60% from costs of $86,194 in the first quarter of 2016. Effective July 2, 2015, the Company commenced trading on the TSX Venture Exchange as a tier 2 Technology Issuer under the trading symbol "SGW. This decrease in general and administrative expenses compared to the second quarter of fiscal 2015, is due to the fees incurred in listing the Company in the second quarter of 2015.

We expect to continue to incur general and administrative expenses to support the business, and there can be no assurances that we will be able to generate sufficient revenue to cover these expenses.

Salaries, wages, consultants and benefits

Salaries, wages, consultants and benefits decreased to $105,887 for the quarter ended June 30, 2016, a decrease of 2% compared to salaries, wages, consultants and benefits of $108,247 in the second quarter of 2015 and a decrease of 6%, over salaries, wages, consultants and benefits of $113,133 in the first quarter of 2016. This decrease compared to the second quarter of fiscal 2015 and the first quarter of fiscal 2016, is due to lower consultant charges incurred.

 Page 22

Depreciation and amortization

Equipment is depreciated using the declining balance method over the useful lives of the assets, ranging from three to five years. Depreciation and amortization decreased to $500 during the quarter ended June 30, 2016, a decrease of 34% over costs of $763 during the same quarter in the prior year and equal to costs of $500 in the first quarter of 2016. This decrease in depreciation and amortization compared to the second quarter of fiscal 2015 is due to the aging of the Company's equipment and the disposal of obsolete equipment.

Trophy Bingo development and amortization

During the quarter ended March 31, 2014, the Company soft-launched Trophy Bingo on Android in selected markets. The Company had a further global release of the Andriod version in the third quarter of 2014 and the iOS version in the first quarter of 2014. The Company ceased to capitalize the development of Trophy Bingo and commenced amortizing the capitalized development costs over the life of the game. The Company expensed $251,534 in development costs during the quarter ended June 30, 2016 and amortized $120,504 of the capitalized development costs during the quarter ended June 30, 2016. This compares to $318,617 expensed development costs during the second quarter of 2015 and amortization of $120,503 of the capitalized development costs during the second quarter of 2015 and $217,383 expensed development costs during the first quarter of 2016 and amortization of $120,503 of the capitalized development costs during the first quarter of 2016. This decrease of 21% in development costs compared to the second quarter of fiscal 2015 is due the decrease of development expenses incurred in the development of Trophy Bingo. The increase of 16% in development costs compared to the first of fiscal 2016 is due the increase of development expenses incurred in the development of new features for Trophy Bingo and the commencement of development of Garfield's Bingo.

In particular, the games contains systems for handling daily rewards, collections, gifting, an advanced spin wheel plus special events.  Each of these features affects a particular performance statistic within the game and in combination it's expected that average retention and monetization will rise, while the average player acquisition cost (the average cost to generate one new install of the game) will fall.  Daily rewards help to improve retention as players are inspired to come back to collect rewards.  Whereas the collection and gifting system is designed to increase virality (reducing acquisition costs) and monetization as players interact more with their friends and spend more in-game currency trying to collect the special items.

            Net loss and loss per share

The net loss after taxation from continuing operations for the quarter ended June 30, 2016, amounted to ($620,968), a loss of ($0.01) per share, compared to a net loss from continuing operations of ($666,512) or ($0.01) per share in the quarter ending June 30, 2015 and net loss from continuing operations of ($633,868), or ($0.01) per share in the first quarter of fiscal 2016. 

LIQUIDITY AND CAPITAL RESOURCES

We had cash of $187,516 and working capital of $954,319 at June 30, 2016.  This compares to cash of $570,086 and working capital of $454,447 at December 31, 2015.

During the quarter ended June 30, 2016, we used cash of ($1,477,535) in operating activities compared to cash used in operating activities of ($424,360) in the same period in the prior year and compared to using cash of ($418,389) in the first quarter of 2016.

Our future capital requirements will depend on a number of factors, including costs associated with the further development of Trophy Bingo and Garfield's Bingo, the cost of marketing and player acquisition costs for Trophy Bingo and Garfield's Bingo, the costs of a world wide launch of Garfield's Bingo and the success and acceptance of both Trophy Bingo and Garfield's Bingo, plus the continuing upkeep of our Web portals www.shoalgames.com and  www.trophybingo.com.

 Page 23

ITEM 4           Controls and Procedures

(a)        Evaluation of disclosure controls and procedures.

As required by Rule 13a-15 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the Company carried out an evaluation under the supervision and with the participation of the Company's management, including the President and Chief Executive Officer and the Chief Financial Officer, of the effectiveness of the Company's disclosure controls and procedures as of June 30, 2016. In designing and evaluating the Company's disclosure controls and procedures, the Company and its management recognize that there are inherent limitations to the effectiveness of any system of disclosure controls and procedures, including the possibility of human error and the circumvention or overriding of the controls and procedures. Accordingly, even effective disclosure controls and procedures can only provide reasonable assurance of achieving their desired control objectives. Additionally, in evaluating and implementing possible controls and procedures, the Company's management was required to apply its reasonable judgment. Furthermore, in the course of this evaluation, management considered certain internal control areas, in which we have made and are continuing to make changes to improve and enhance controls. Based upon the required evaluation, the Chief Executive Officer and the Chief Financial Officer concluded that as of June 30, 2016, the Company's disclosure controls and procedures were effective (at the "reasonable assurance" level mentioned above) to ensure that information required to be disclosed by the Company in the reports it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.

From time-to-time, the Company and its management have conducted and will continue to conduct further reviews and, from time to time put in place additional documentation, of the Company's disclosure controls and procedures, as well as its internal control over financial reporting. The Company may from time to time make changes aimed at enhancing their effectiveness, as well as changes aimed at ensuring that the Company's systems evolve with, and meet the needs of, the Company's business. These changes may include changes necessary or desirable to address recommendations of the Company's management, its counsel and/or its independent auditors, including any recommendations of its independent auditors arising out of their audits and reviews of the Company's financial statements. These changes may include changes to the Company's own systems, as well as to the systems of businesses that the Company has acquired or that the Company may acquire in the future and will, if made, be intended to enhance the effectiveness of the Company's controls and procedures. The Company is also continually striving to improve its management and operational efficiency and the Company expects that its efforts in that regard will from time to time directly or indirectly affect the Company's disclosure controls and procedures, as well as the Company's internal control over financial reporting.

(b)        Changes in internal controls.

There were no significant changes in the Company's internal controls or other factors that could significantly affect the Company's internal controls subsequent to the date of their evaluation.

 Page 24

PART II - OTHER INFORMATION

ITEM 1.          Legal Proceedings

We are not currently a party to any legal proceeding, and was not a party to any other legal proceeding during the quarter ended June 30, 2016. We are currently not aware of any other legal proceedings proposed to be initiated against the Company. However, from time to time, we may become subject to claims and litigation generally associated with any business venture.

ITEM 2.          Unregistered Sales of Equity Securities and Use of Proceeds

There were no sales of equity securities during the quarter ended March 31, 2016.

During the quarter ended June 30, 2016, the Company closed two private placements for 3,337,934 common shares at $0.60 per share which raised proceeds of CAD$ 2,002,760.

ITEM 3.          Defaults Upon Senior Securities

Not applicable.

ITEM 4.          Submission of Matters to a Vote of Security Holders

There were no matters submitted to the shareholders during the period.

ITEM 5.          Other Information

Subsequent to the quarter ended June 30, 2016, the Company commenced a rights offering to holders of its common shares of record at the close of business on July 5, 2016 expiring October 11, 2016. The Offering will be made to all Company shareholders resident in Canada. The Offering notice and circular has been accepted for filing by the TSX Venture Exchange. Ten Rights plus the sum of $0.60 will entitle the holder to subscribe for one Common Share. The Subscription Price will escalate during the term of the Offering. Holders of Rights who subscribe for Rights Shares on or after August 16, 2016 will be required to pay a Subscription Price of $0.65 per Rights Share. Holders of Rights who subscribe for Rights Shares on or after September 16, 2016 and prior to the Expiry Time will be required to pay a Subscription Price of $0.70 per Rights Share. Shareholders who fully exercise their Rights are entitled to subscribe pro rata for additional Common Shares, if available, that were not subscribed for initially on or before the Expiry Time. The maximum number of common shares issuable pursuant to the Offering will be 5,953,564.

 Page 25

ITEM 6.          Exhibits and reports on Form 8-K

Exhibits

The following instruments are included as exhibits to this Report.  Exhibits incorporated by reference are so indicated.

Exhibit Number

Description

4.4

Convertible Debenture between the Company and unrelated parties dated July 2, 2002. (b)

4.5

Common Stock Purchase Warrant between the Company and unrelated parties dated July 2, 2002. (b)

10.2

Asset Purchase Agreement by and between Bingo, Inc. and Progressive Lumber, Corp. dated January 18, 1999. (a)

10.24

Amended Consulting Agreement dated February 28, 2002, between the Company, T.M. Williams (Row), Ltd., and T.M. Williams. (c)

10.29

Amendment of Asset Purchase Agreement dated July 1, 2002. (d)

10.32

Code of Business Conduct and Ethics dated December 22, 2006. (e)

10.33

Amended Consulting Agreement dated June 16, 2010, between the Company, T.M. Williams (Row), Ltd., and T.M. Williams. (f)

10.36

The Marketing Service Agreement between the Bingo.com, Ltd. wholly owned subsidiary, Coral Reef Marketing Inc. and with Unibet International Limited dated March 19, 2010. (g)

10.37

Amended Consulting Agreement dated August 1, 2013, between the Company, T.M. Williams (Row), Ltd., and T.M. Williams. (h)

10.38

Consulting Agreement dated January 1, 2014, between the Company, Jayska Consulting Ltd., and J.M. Williams. (h)

10.39

Consulting Agreement dated January 1, 2014, between the Company, LVA Media Inc., and J.M. Williams. (h)

10.40

Consulting Agreement dated October 1, 2013, between the Company, Devereux Management Ltd., and C. M. Devereux. (h)

10.41

Consulting Agreement dated January 1, 2014, between the Company, Bromley Accounting Services Limited, and H. W. Bromley. (h)

31.1

Certificate of Chief Executive Officer pursuant to the Securities Exchange Act Rules 13a-15(e) and 15d -15(e) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 dated August 15, 2016.

31.2

Certificate of Chief Financial Officer pursuant to the Securities Exchange Act Rules 13a-15(e) and 15d -15(e) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 dated August 15, 2016.

32.1

Certification from the Chief Executive Officer of Shoal Games Ltd. pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 dated August 15, 2016.

32.2

Certification from the Chief Financial Officer of Shoal Games Ltd. pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 dated August 15, 2016.

(a) Previously filed with the Registrant's registration statement on Form 10 on June 9, 1999.

(b) Previously filed with the Company's quarterly report on Form 10-Q for the period ended September 30, 2002, on November 14, 2002.

(c) Previously filed with the Company's quarterly report on Form 10-Q for the period ended June 30, 2002, on August 14, 2002.

(d) Previously filed with the Company's year end report on Form 10-K/A for the year ended December 31, 2002, on May 8, 2003.

(e) Previously filed with the Company's report on Form 8-K on December 26, 2006.

 Page 26

(f) Previously filed with the Company's report on Form 8-K on June 17, 2010.

(g) Previously field with the Company's report on Form 8-K/A on June 18, 2012.

(h) Previously filed with the Company's report on Form 8-K on March 24, 2014. 

Reports on Form 8-K.

There were no Form 8-K filed by the Company during the quarter ended June 30, 2016.

Reports Subsequent to the quarter ended June 30, 2016.

There were no reports subsequent to the quarter ended June 30, 2016.

 Page 27

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date:

August 15, 2016.

 

SHOAL GAMES LTD.

 

 

(Registrant)

Date:

August 15, 2016

           

            /S/ J.M. Williams

 

 

J. M. Williams, Chief Executive Officer, and President

(Principal Executive Officer)

 

Date:

 

August 15, 2016

 

 

            /S/ H. W. Bromley

 

 

H.W. Bromley, Chief Financial Officer

(Principal Accounting Officer)

 

 

 Page 28

EXHIBIT 31.1

CERTIFICATIONS

I, J. M. Williams, certify that:

1.   I have reviewed this quarterly report on Form 10-Q of Shoal Games Ltd.;

2.   Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.  Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of Shoal Games Ltd. as of, and for, the periods presented in this quarterly report;

4.  Shoal Games Ltd.'s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to Shoal Games Ltd., including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)   Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)   Evaluated the effectiveness of Shoal Games Ltd.'s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of June 30, 2016, covered by this quarterly report based on such evaluation; and

(d)  Disclosed in this report any change in Shoal Games Ltd.'s internal control over financial reporting that occurred during Shoal Games Ltd.'s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, Shoal Games Ltd.'s internal control over financial reporting; and

5.  Shoal Games Ltd.'s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to Shoal Games Ltd.'s auditors and the audit committee of Shoal Games Ltd.'s board of directors (or persons performing the equivalent functions):

(a)  All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect Shoal Games Ltd.'s ability to record, process, summarize and report financial information; and

(b)   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Signed:  /S/ J. M. Williams                                                                 Date: August 15, 2016

J. M. Williams,

Chief Executive Officer and President

(Principal Executive Officer)

 Page 29

EXHIBIT 31.2

CERTIFICATIONS

I, H. W. Bromley, certify that:

  1. I have reviewed this quarterly report on Form 10-Q of Shoal Games Ltd.;

2.  Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.  Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of Shoal Games Ltd. as of, and for, the periods presented in this quarterly report;

4.  Shoal Games Ltd.'s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)  Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to Shoal Games Ltd., including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)  Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)  Evaluated the effectiveness of Shoal Games Ltd.'s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of June 30, 2016, covered by this quarterly report based on such evaluation; and

(d)  Disclosed in this report any change in Shoal Games Ltd.'s internal control over financial reporting that occurred during Shoal Games Ltd.'s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, Shoal Games Ltd.'s internal control over financial reporting; and

5.  Shoal Games Ltd.'s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to Shoal Games Ltd.'s auditors and the audit committee of Shoal Games Ltd.'s board of directors (or persons performing the equivalent functions):

(a)     All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect Shoal Games Ltd.'s ability to record, process, summarize and report financial information; and

(b)     Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

Signed:  /S/ H. W. Bromley                                                                                Date: August 15, 2016

H.W. Bromley,

Chief Financial Officer

(Principal Accounting Officer)
 

 Page 30

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of Shoal Games Ltd. (the "Company") on Form 10-Q for the period ended June 30, 2016, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, J. M. Williams, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

a)      The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

b)      The information contained in this Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

                                                                        /S/ J.M. Williams         

                                                            J. M. Williams

                                                            President and Chief Executive Officer

                                                                        August 15, 2016

 

A signed original of this written statement required by Section 906 has been provided to Shoal Games Ltd. and will be retained by the company and furnished to the Securities and Exchange Commission or its staff upon request.

 Page 31

EXHIBIT 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Shoal Games Ltd. (the "Company") on Form 10-Q for the period ended June 30, 2016, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, H. W. Bromley, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

a)        The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

b)        The information contained in this Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

                                                                        /S/ H. W. Bromley        

                                                            H. W. Bromley

                                                            Chief Financial Officer

                                                                        August 15, 2016

 

A signed original of this written statement required by Section 906 has been provided to Shoal Games Ltd. and will be retained by the company and furnished to the Securities and Exchange Commission or its staff upon request.

 

 Page 32

 

EX-101.CAL 2 sgldf-20160630_cal.xml SHOAL GAMES LTD. Q2 2016 FORM 10-Q CAL EX-101.DEF 3 sgldf-20160630_def.xml SHOAL GAMES LTD. Q2 2016 FORM 10-Q DEF EX-101.LAB 4 sgldf-20160630_lab.xml SHOAL GAMES LTD. Q2 2016 FORM 10-Q LAB Anguilla [Member] Statement Geographical [Axis] Canada [Member] United Kingdom [Member] United States of America [Member] Common Stock Equity Components [Axis] Accumulated Deficit Accumulated Other Comprehensive Income/Foreign currency translation adjustment Western Europe [Member] Central Eastern and Southern Europe [Member] Nordics [Member] Other [Member] North America [Member] Software Development [Member] Property, Plant and Equipment, Type [Axis] Subsequent Event [Member] Subsequent Event Type [Axis] Private Placement [Member] Sale of Stock [Axis] Document And Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Is Entity a Well-known Seasoned Issuer? Is Entity a Voluntary Filer? Is Entity's Reporting Status Current? Entity Filer Category Entity Public Float Entity Common Stock, Shares Outstanding Document Fiscal Period Focus Document Fiscal Year Focus Statement of Financial Position [Abstract] Assets Current assets: Cash Accounts receivable less allowance for doubtful accounts $nil (December 31, 2015 - $nil) Prepaid expenses (Note 3) Total Current Assets Equipment, net Other assets (Note 4) Security deposits Deferred tax asset, less valuation allowance of $15,692 (December 31, 2015 - $17,898) (Note 8) Total Assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Accrued liabilities Accounts payable and accrued liabilities - related party (Note 9) Total Current Liabilities Commitments (Note 7) Stockholders' equity (Note 6): Common stock, no par value, unlimited shares authorized, 59,535,637 shares issued and outstanding (December 31, 2015 - 56,197,703) Accumulated deficit Accumulated other comprehensive income: Foreign currency translation adjustment Total Stockholders' Equity Total Liabilities and Stockholders' Equity Consolidated Balance Sheets Parenthetical Allowance for doubtful accounts Valuation allowance for deferred tax asset Stockholders' equity Common stock, par value Common stock, authorized shares Common stock, issued shares Common stock, outstanding shares Consolidated Statements Of Operations And Comprehensive Loss Total revenue Cost of sales: Trophy Bingo amortization (Note 4) Total cost of sales Gross loss Operating expenses: Depreciation and amortization Directors fees General and administrative Salaries, wages, consultants and benefits Selling and marketing Trophy Bingo development (Note 4) Total operating expenses Loss before other income (expense) and income taxes Other income (expense): Foreign exchange gain (loss) Interest and other income Loss from continuing operations before income taxes Income tax recovery Loss from continuing operations Discontinued operations: (Note 5) Gain from the sale of the domain name Loss after tax Other comprehensive income (loss) Comprehensive loss Basic and diluted profit (loss) per common share Continuing operations Discontinued operations Weighted average common shares outstanding, basic Weighted average common shares outstanding, diluted Statement [Table] Statement [Line Items] Beginning balance, Amount Beginning balance, Shares Private placement, net of issuance expenses, Amount Private placement, net of issuance expenses, Shares Net loss Ending balance, Amount Ending balance, Shares Statement of Cash Flows [Abstract] Cash flows from operating activities: Adjustments to reconcile net loss to net cash used in operating activities: Trophy Bingo amortization Gain from the sale of the domain name Changes in operating assets and liabilities: Accounts receivable Prepaid expenses Security deposits Accounts payable and accrued liabilities Net cash used in operating activities Cash flows from investing activities: Acquisition of equipment Software development Net cash used in investing activities Cash flows from financing activities: Proceeds from Private placement, net of issuance costs Net cash provided by financing activities Change in cash Cash, beginning of period Cash, end of period Supplementary information: Interest paid Income taxes paid Non-cash financing activity Non-cash investing activity Accounting Policies [Abstract] Basis of Presentation Notes to Financial Statements Summary of significant accounting policies Prepaid Expenses Prepaid expenses Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] Other assets Discontinued Operations Equity [Abstract] Stockholders' Equity Commitments and Contingencies Disclosure [Abstract] Commitments Income Tax Disclosure [Abstract] Income Taxes Related Party Transactions [Abstract] Related Party Transactions Segmented information Risks and Uncertainties [Abstract] Concentrations Concentrations of Credit Risk Basis of presentation Use of estimates Revenue recognition Foreign currency Impairment of long-lived assets and long-lived assets to be disposed of Software Development Costs Financial instruments Other Assets Tables Schedule of other assets Escrow shares Table Minimum lease payments under these operating leases Deferred tax assets and deferred tax liabilities Revenue by geographical region Equipment Basis Of Presentation Details Narrative Accumulated deficit Development Costs Prepaid Expenses Details Narrative Future development expenses Prepaid Expenses Future development balance Legal fees Other Prepaid Expenses Other Assets Details Capitalized Expenses Accumulated amortization Net book Value Other Assets Details Narrative Discontinued Operation, Additional Disclosures [Abstract] Beginning Balance Shares Released in the quarter Shares eligible for release Ending Balance Proceeds from sale of common stock Sale Of Common Stock Sale Of Common Stock Per Shares Escrow Shares Released Commitments Details 2016 2017 Commitments Details Narrative Rent expense Income Taxes Details Deferred tax assets: Net operating loss carry forwards Valuation Allowance Net Deferred Tax Assets Schedule of Revenues from External Customers and Long-Lived Assets [Table] Revenues from External Customers and Long-Lived Assets [Line Items] Geographical [Axis] Total revenue from continuing operations Net Book Value Concentrations Of Credit Risk Details Narrative Federally insured limits Percentage representation by a customer Amounts representation by a customer Accumulated amortization. Custom Element. Custom Element. Custom Element. Capitalized expenses. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Gain from sale of domain name. Custom Element. Custom Element. Net book value. Custom Element. Custom Element. Custom Element. Custom Element. Percentage representation by customer. Custom Element. Sale of subsidary member. Schedule of other assets. Trophy bingo amortization. Trophy bingo development note 5. Custom Element. Custom Element. Custom Element. Custom Element. Escrow shares Table. Escrow shares balance. Escrow shares eligible for release. Escrow shares released. Sale of common stock. Sale of common stock per shares. Proceeds from Private placement net of issuance costs. Custom Element. Custom Element. Custom Element. Assets, Current Assets [Default Label] Liabilities, Current Stockholders' Equity Attributable to Parent Liabilities and Equity Cost of Goods Sold Gross Profit Costs and Expenses Income Tax Expense (Benefit) Comprehensive Income (Loss), Net of Tax, Attributable to Parent Shares, Issued Increase (Decrease) in Accounts Receivable Increase (Decrease) in Prepaid Expense Increase (Decrease) in Security Deposits Net Cash Provided by (Used in) Operating Activities Payments to Acquire Property, Plant, and Equipment Payments to Develop Software Net Cash Provided by (Used in) Investing Activities ProceedsFromPrivatePlacementNetOfIssuanceCosts Net Cash Provided by (Used in) Financing Activities Research and Development in Process NetBookValue EscrowSharesBalance Deferred Tax Assets, Valuation Allowance AcquisitionDateMember DirectorAndOfficerMember GeographicalRevenueMember IndependentDirectorMember SaleOfSubsidaryMember UKOfficeMember EX-101.PRE 5 sgldf-20160630_pre.xml SHOAL GAMES LTD. Q2 2016 FORM 10-Q PRE EX-101.INS 6 sgldf-20160630.xml SHOAL GAMES LTD. Q2 2016 FORM 10-Q INS 0001318482 2016-01-01 2016-06-30 0001318482 2016-06-30 0001318482 2015-12-31 0001318482 2015-01-01 2015-06-30 0001318482 SGLDF:AnguillaMember 2016-06-30 0001318482 SGLDF:CanadaMember 2016-06-30 0001318482 SGLDF:UnitedKingdomMember 2016-06-30 0001318482 SGLDF:UnitedStatesOfAmericaMember 2016-06-30 0001318482 SGLDF:AnguillaMember 2015-12-31 0001318482 SGLDF:CanadaMember 2015-12-31 0001318482 SGLDF:UnitedKingdomMember 2015-12-31 0001318482 SGLDF:UnitedStatesOfAmericaMember 2015-12-31 0001318482 us-gaap:CommonStockMember 2016-06-30 0001318482 us-gaap:RetainedEarningsMember 2016-06-30 0001318482 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2016-06-30 0001318482 us-gaap:CommonStockMember 2016-01-01 2016-06-30 0001318482 us-gaap:RetainedEarningsMember 2016-01-01 2016-06-30 0001318482 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2016-01-01 2016-06-30 0001318482 us-gaap:CommonStockMember 2015-12-31 0001318482 us-gaap:RetainedEarningsMember 2015-12-31 0001318482 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2015-12-31 0001318482 SGLDF:WesternEuropeMember 2016-01-01 2016-06-30 0001318482 SGLDF:CentralEasternAndSouthernEuropeMember 2016-01-01 2016-06-30 0001318482 SGLDF:NordicsMember 2016-01-01 2016-06-30 0001318482 SGLDF:OthersMember 2016-01-01 2016-06-30 0001318482 SGLDF:WesternEuropeMember 2015-01-01 2015-06-30 0001318482 SGLDF:CentralEasternAndSouthernEuropeMember 2015-01-01 2015-06-30 0001318482 SGLDF:NordicsMember 2015-01-01 2015-06-30 0001318482 SGLDF:OthersMember 2015-01-01 2015-06-30 0001318482 us-gaap:NorthAmericaMember 2016-01-01 2016-06-30 0001318482 us-gaap:NorthAmericaMember 2015-01-01 2015-06-30 0001318482 2015-01-01 2015-12-31 0001318482 2014-12-31 0001318482 2015-06-30 0001318482 us-gaap:SoftwareDevelopmentMember 2016-01-01 2016-06-30 0001318482 us-gaap:SoftwareDevelopmentMember 2015-01-01 2015-06-30 0001318482 us-gaap:SubsequentEventMember 2016-07-01 2016-12-31 0001318482 2016-12-31 0001318482 us-gaap:PrivatePlacementMember 2016-01-01 2016-06-30 0001318482 2016-04-01 2016-06-30 0001318482 2015-04-01 2015-06-30 0001318482 SGLDF:WesternEuropeMember 2016-04-01 2016-06-30 0001318482 SGLDF:CentralEasternAndSouthernEuropeMember 2016-04-01 2016-06-30 0001318482 SGLDF:NordicsMember 2016-04-01 2016-06-30 0001318482 us-gaap:NorthAmericaMember 2016-04-01 2016-06-30 0001318482 SGLDF:OthersMember 2016-04-01 2016-06-30 0001318482 SGLDF:WesternEuropeMember 2015-04-01 2015-06-30 0001318482 SGLDF:CentralEasternAndSouthernEuropeMember 2015-04-01 2015-06-30 0001318482 SGLDF:NordicsMember 2015-04-01 2015-06-30 0001318482 us-gaap:NorthAmericaMember 2015-04-01 2015-06-30 0001318482 SGLDF:OthersMember 2015-04-01 2015-06-30 0001318482 2016-08-15 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure iso4217:CAD SHOAL GAMES LTD. 0001318482 10-Q 2016-06-30 false --12-31 No No Yes Smaller Reporting Company Q2 2016 0.00 0.00 -19661972 -18407136 135983 177792 19170 32566 62318 71026 54495 74200 1346235 1129526 9613 8960 241006 482013 5314 6314 1175 2082 1528 529 1410 2436 1834 634 1090302 632239 864917 17205 37869 44948 187516 570086 2876386 1834424 0 0 0 0 15692 17898 59535637 56197703 59535637 56197703 unlimited unlimited 1446038 1446038 1205032 964025 -241006 -482013 468917 631654 1230216 4326553 3259074 251534 318617 0 0 61398 303983 24030 40818 11303034 22606069 0 11303034 -11303035 -22606070 20847644 19334290 15692 17898 15692 17898 59535637 24580 24580 1210252 951734 20847644 -19661972 24580 19334290 -18407136 24580 1346235 1129526 56829054 55682703 57474435 55682703 56829054 55682703 57474435 55682703 0.00 0.00 0.00 0.00 -0.02 -0.02 -0.01 -0.01 -1254836 -1388172 -620968 -666512 0 0 0 0 -1254836 -1388172 -1254836 -620968 -666512 0 16305 0 0 -1254836 -1404477 -620968 -666512 -9 0 -9 0 -1254845 -1404477 -620977 -666512 101 538 17 259 -20433 -6255 -17222 27835 -1234513 -1398760 -603772 -694606 1181886 1172699 561089 580356 368345 75138 166758 28862 219020 220820 105887 108247 120604 239561 34410 121867 4000 4000 2000 2000 1000 1526 500 763 -52627 -226061 -42683 -114250 241007 241006 120504 120503 241007 241006 120504 120503 188380 14945 77821 6253 59535637 56197703 1513354 1513354 3337934 0 0 0 0 0 0 0 0 -382570 -1041962 0 -272 0 0 0 272 -1895924 -1041690 -41809 6732 -653 609 847712 -4164 -7079 -108750 -1513354 0 1513354 0 2002760 8561 5207 5628 5749 188380 14945 24135 27 642 9808 1570 37 158 8295 153768 4885 77821 6253 9558 17 234 63920 4092 437 36 8 1899 3873 0.10 0.10 47222 27224 3337934 0.60 <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The accompanying unaudited financial statements have been prepared by Shoal Games Ltd. (&#34;the Company&#34;) in conformity with accounting principles generally accepted in the United States of America (&#34;US GAAP&#34;) applicable to interim financial information and with the rules and regulations of the United States Securities and Exchange Commission.&#160; Accordingly, certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed, or omitted, pursuant to such rules and regulations.&#160; In the opinion of management, the unaudited interim consolidated financial statements include all adjustments necessary for the fair presentation of the results of the interim periods presented.&#160; All adjustments are of a normal recurring nature, except as otherwise noted below.&#160; These unaudited interim consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and notes thereto for the year ended December 31, 2015, included in the Company's Annual Report on Form 10-K, filed March 17, 2016, with the Securities and Exchange Commission.&#160; The results of operations for the interim periods are not necessarily indicative of the results of operations for any other interim period or for a full fiscal year.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Continuing operations</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">These unaudited interim consolidated financial statements have been prepared on the going concern basis, which presumes the realization of assets and the settlement of liabilities in the normal course of operations.&#160; The application of the going concern basis is dependent upon the Company achieving profitable operations to generate sufficient cash flows to fund continued operations, or, in the absence of adequate cash flows from operations, obtaining additional financing.&#160; The Company has reported losses from operations for the quarters ended June 30, 2016 and 2015, and has an accumulated deficit of $19,661,972 as at June 30, 2016.&#160; This raises substantial doubt about the Company's ability to continue as a going concern.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">In view of the matters described in the preceding paragraph, recoverability of a major portion of the recorded asset amounts and settlement of the liability amounts shown in the accompanying balance sheets is dependent upon continued operations of the Company, which in turn is dependent upon the Company's ability to succeed in its future operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">Management continues to review operations in order to identify additional strategies designed to generate cash flow, improve the Company's financial position, and enable the timely discharge of the Company's obligations.&#160; If management is unable to identify sources of additional cash flow in the short term, it may be required to further reduce or limit operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.7pt; text-align: left; text-indent: -21.5pt"><font style="font-weight: normal">(a) &#160;&#160;&#160;&#160;Basis of presentation:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.7pt; text-align: left; text-indent: -21.5pt"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><font style="font-weight: normal">These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (&#34;US GAAP&#34;) applicable to annual financial information and with the rules and regulations of the United States Securities and Exchange Commission. The financial statements include the accounts of the Company's wholly-owned subsidiaries, Shoal Media (Canada) Inc. (registered in British Columbia, Canada), Coral Reef Marketing Inc. (registered in Anguilla), Bingo.com (Antigua) Inc., Bingo.com (Wyoming) Inc., Bingo Acquisition Corp, Shoal Media Inc. (registered in Anguilla), and the 99% owned subsidiary, Shoal Games (UK) Plc (registered in the United Kingdom). During the quarter ended March 31, 2016, English Bay Office Management Limited changed its name to Shoal Media (Canada) Inc. All inter-company balances and transactions have been eliminated in the consolidated financial statements.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.7pt; text-align: justify; text-indent: -21.5pt"><font style="font-weight: normal">(b) &#160;&#160;&#160;&#160;Use of estimates:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.7pt; text-align: justify; text-indent: -21.5pt"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.35pt; text-align: justify"><font style="font-weight: normal">The preparation of consolidated financial statements in conformity with U.S. GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and recognized revenues and expenses for the reporting periods.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.35pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">Significant areas requiring the use of estimates include the valuation of long-lived assets, the collectibility of accounts receivable and the valuation of deferred tax assets.&#160; Actual results may differ significantly from these estimates.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 107.7pt; text-align: justify; text-indent: -93.5pt"><font style="font-weight: normal">(c) &#160;&#160;&#160; Revenue recognition:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 107.7pt; text-align: justify; text-indent: -93.5pt"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">Trophy Bingo revenues have been recognized from the sale of in-game purchases, net of platform fees, at the time of purchase by the player. The revenue from in-game advertising is recognized when advertising is served to the player.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">Advertising revenues, not generated in Trophy Bingo, have been recognized when collection of the amounts are reasonably assured.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.75pt; text-align: justify; text-indent: -21.55pt"><font style="font-weight: normal">(d) &#160;&#160;&#160;&#160;Foreign currency:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.75pt; text-align: justify; text-indent: -21.55pt"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.35pt; text-align: justify"><font style="font-weight: normal">The consolidated financial statements are presented in United States dollars, the functional currency of the Company and its subsidiaries. The Company accounts for foreign currency transactions and the translation of foreign currency financial statements under Statement ASC 830, Foreign Currency Matters. Transaction amounts denominated in foreign currencies are translated at exchange rates prevailing at the transaction dates. Carrying values of monetary assets and liabilities are adjusted at each balance sheet date to reflect the exchange rate at that date.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.35pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.35pt; text-align: justify"><font style="font-weight: normal">Non-monetary assets and liabilities are translated at the exchange rate on the original transaction date.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.35pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">Gains and losses from restatement of foreign currency monetary and non-monetary assets and liabilities are included in net income. Revenues and expenses are translated at the rates of exchange prevailing on the dates such items are recognized in earnings.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 21.3pt; text-align: justify; text-indent: -7.1pt"><font style="font-weight: normal">(e)&#160;&#160; &#160;&#160;Impairment of long-lived assets and long-lived assets to be disposed of:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 21.3pt; text-align: justify; text-indent: -7.1pt"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">The Company accounts for long-lived assets in accordance with the provisions of ASC 360, Property, Plant and Equipment and ASC 350, Intangibles-Goodwill and Others. During the periods presented, the only long-lived assets reported on the Company's consolidated balance sheet are equipment, other assets, and security deposits.&#160; These provisions require that long-lived assets and certain identifiable recorded intangibles be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.&#160; Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets.&#160; Assets to be disposed of are reported at the lower of the carrying amount and the fair value less costs to sell.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: -21.25pt"><font style="font-weight: normal">(g)&#160;&#160;&#160;&#160; Software Development Costs:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify; text-indent: -21.25pt"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">Software development costs incurred in the research and development of new software products and enhancements to existing software products for external use are expensed as incurred until technological feasibility has been established. After technological feasibility is established, any software development costs are capitalized and amortized at the greater of the straight-line basis over the estimated economic life of the related product or the ratio that current gross revenues for a product bear to the total of current and anticipated future gross revenues for the related product. Commencing January 1, 2014, the Company obtained technological feasibility and is amortizing the capitalized software development costs over a period of 3 years. The Company performs an annual review of the estimated economic life and the recoverability of such capitalized software costs, using a net realizable value test.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">If a determination is made that capitalized amounts are not recoverable based on the estimated cash flows to be generated from the applicable software, any remaining capitalized amounts are written off. Although the Company believes that its approach to estimates and judgments as described herein is reasonable, actual results could differ and the Company may be exposed to increases or decreases in revenue that could be material.&#160; Total software development costs for the development of Trophy Bingo were $4,326,553 as at June 30, 2016 (June 30, 2015 - $3,259,074).</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers and issued subsequent amendments to the initial guidance in August 2015, March 2016, April 2016, and May 2016 within ASU 2015-04, ASU 2016-08, ASU 2016-10, ASU 2016-11 and ASU 2016-12, respectively. The guidance in this update supersedes the revenue recognition requirements in ASC 605, Revenue Recognition, and most industry-specific guidance throughout the Codification. Additionally, this update supersedes some cost guidance included in ASC 605-35, Revenue Recognition - Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (for example, assets within the scope of ASC 360, Property, Plant, and Equipment, and intangible assets, within the scope of ASC 350, Intangibles - Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement in this update. The standard was to be effective for the Company as of January 1, 2017, but in August 2015, the FASB delayed the effective date of the new revenue accounting standard to January 1, 2019, and would permit early adoption as of the original effective date. Earlier adoption is not otherwise permitted for public entities. An entity can apply the revenue standard retrospectively to each prior reporting period presented (full retrospective method) or retrospectively with the cumulative effect of initially applying the standard recognized at the date of initial application in retained earnings (simplified transition method). The Company is currently assessing the impact of this update on its consolidated financial statements. The Company has not yet selected an adoption date, a transition method nor has it determined the effect of the standard on its ongoing financial reporting.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In June 2014, the FASB issued ASU No. 2014-12, Compensation-Stock Compensation. This guidance requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the periods for which the requisite service has already been rendered. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and can be applied either prospectively or retrospectively to all awards outstanding as of the beginning of the earliest annual period presented as an adjustment to opening retained earnings. Early adoption is permitted. The adoption of ASU 2014-12 did not have a material impact on our financial condition, liquidity or results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern (&#34;ASU 2014-15&#34;). ASU 2014-15 provides guidance about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and sets rules for how this information should be disclosed in the financial statements. ASU 2014-15 is effective for annual periods ending after December 15, 2016 and interim periods thereafter. Early adoption is permitted. The Company is evaluating the effect of ASU 2014-15 on our consolidated financial condition and results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In November 2014, the FASB issued ASU No. 2014-16, Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity. This standard requires an entity to &#34;determine the nature of the host contract by considering all stated and implied substantive terms and features of the hybrid financial instrument, weighing each term and feature on the basis of the relevant facts and circumstances which the hybrid financial instrument was issued or acquired and the potential outcome of the hybrid financial instrument.&#160; ASU 2014-16 is effective for annual periods ending after December 15, 2015 and interim periods thereafter. Early adoption is permitted. The adoption of ASU 2014-16 did not have a material impact on our financial condition, liquidity or results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In January 2015, the FASB issued ASU 2015-01, which eliminates from GAAP the concept of extraordinary items. If an event or transaction meets the criteria for extraordinary classification, it is segregated from the results of ordinary operations and is shown as a separate item in the income statement, net of tax. ASU 2015-01 is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. The adoption of ASU 2015-01 did not have a material impact on our financial condition, liquidity or results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In February 2015, the FASB issued ASU 2015-02, which provides guidance for reporting entities that are required to evaluate whether they should consolidate certain legal entities. In accordance with ASU 2015-02, all legal entities are subject to reevaluation under the revised consolidation model. ASU 2015-02 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. The adoption of ASU 2015-02 did not have a material impact on our financial condition, liquidity or results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">On April 1, 2015, the FASB voted to defer the effective date of ASU No. 2014-09, which outlines a single comprehensive model for entities to use in accounting for revenues arising from contracts with customers and notes that lease contracts with customers are a scope exception. Public business entities may elect to adopt the amendments as of the original effective date; however, if the proposed deferral is approved, adoption is required for annual reporting periods beginning after December 15, 2017. We are currently assessing the impact of the guidance on our consolidated financial statements.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">On April 17, 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs , which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability.&#160; Currently, debt issuance costs are recorded as an asset and amortization of these deferred financing costs is recorded in interest expense.&#160; Under the new standard, debt issuance costs will continue to be amortized over the life of the debt instrument and amortization will continue to be recorded in interest expense.&#160; The new standard is effective for the Company on January 1, 2016 and will be applied on a retrospective basis.&#160; The adoption of ASU 2015-03 did not have a material impact on our financial condition, liquidity or results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">The FASB has issued ASU 2015-05, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement.&#160; The amendments in ASU 2015-05 provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The amendments do not change the accounting for a customer's accounting for service contracts. As a result of the amendments, all software licenses within the scope of Subtopic 350-40 will be accounted for consistent with other licenses of intangible assets.&#160; ASU 2015-05 is effective for public entities for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. The adoption of ASU 2015-05 did not have a material impact on our financial condition, liquidity or results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments guidance to simplify the accounting for adjustments in a business combination. An acquirer should recognize adjustments to provisional amounts with a corresponding adjustment of goodwill, as well as the effect on earnings of changes in depreciation, amortization or other income effects, in the reporting period in which the adjustments are identified as if the accounting had been completed at the acquisition date. Disclosure is required, by line item, of the amount recorded in current period earnings that would have been recorded in previous reporting periods. This guidance is effective for fiscal years and interim periods beginning after December 15, 2015, and requires prospective application. Early adoption is permitted. The adoption of ASU 2015-16 did not have a material impact on our financial condition, liquidity or results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes , which requires deferred income tax liabilities and assets to be classified as noncurrent on the balance sheet rather than being separated into current and noncurrent. The guidance is effective for public entities for annual periods beginning after December 15, 2016, and interim periods within those annual periods with early adoption being permitted. The Company is still assessing the potential impact of ASU 2015-17 on its consolidated financial statements.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (&#34;ASU 2016-01&#34;), which requires that equity investments, except for those accounted for under the equity method or those that result in consolidation of the investee, be measured at fair value, with subsequent changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. ASU 2016-01 also impacts the presentation and disclosure requirements for financial instruments. ASU 2016-01 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted only for certain provisions. The Company does not expect that the adoption of ASU 2016-01 will have a material effect on its consolidated financial statements.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to recognize most leases on the balance sheet. This ASU requires lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Lessees are permitted to make an accounting policy election to not recognize the asset and liability for leases with a term of twelve months or less. The ASU does not significantly change the lessees' recognition, measurement and presentation of expenses and cash flows from the previous accounting standard. Lessors' accounting under the ASC is largely unchanged from the previous accounting standard. In addition, the ASU expands the disclosure requirements of lease arrangements. Lessees and lessors will use a modified retrospective transition approach, which includes a number of practical expedients. The provisions of this guidance are effective for annual periods beginning after December 15, 2018, and interim periods within those years, with early adoption permitted. Management is evaluating the requirements of this guidance and has not yet determined the impact of the adoption on the Company's financial position or results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (&#34;ASU 2016-09&#34;), which addresses how companies account for certain aspects of share-based payments to employees. Entities will be required to recognize the income tax effects of awards in the statement of income when the awards vest or are settled, and to present excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity. The ASU also addresses such areas as an accounting policy election for forfeitures and the amount an employer can withhold to cover income taxes and still qualify for equity classification. The amendments in this ASU will be effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard on its consolidated financial statements.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">There have been no other recent accounting standards, or changes in accounting standards, during the quarter ended June 30, 2016, as compared to the recent accounting standards described in the Annual Report, that are of material significance, or have potential material significance, to us.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 17.85pt; text-align: justify; text-indent: -3.65pt"><font style="font-weight: normal">(i)&#160;&#160; &#160;&#160;&#160;Financial instruments:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 17.85pt; text-align: justify; text-indent: -3.65pt"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">(i)&#160; Fair values:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">The fair value of accounts receivable, accounts payable, accrued liabilities and accounts payable and accrued liabilities - related party approximate their financial statement carrying amounts due to the short-term maturities of these instruments.&#160; Cash is carried at fair value using a level 1 fair value measurement.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little, if any, market activity for the asset.&#160; The Company's cash was measured using Level 1 inputs.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">(ii)&#160; Foreign currency risk:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">The Company operates internationally, which gives rise to the risk that cash flows may be adversely impacted by exchange rate fluctuations.&#160; The Company has not entered into any forward exchange contracts or other derivative instrument to hedge against foreign exchange risk.</font></p> <p style="margin: 0pt"><font style="font: 8pt Times New Roman, Times, Serif">During the quarter ended June 30, 2016, the Company prepaid $863,660 for future development expenses for Trophy Bingo and Garfield&#146;s Bingo. During the quarter ended June 30, 2016, $47,222 was expensed. As at June 30, 2016, there is a balance of $816,438 for future development. In addition, the Company has $27,224 of prepaid legal fees for the rights issue. The Company has other prepaid expenses of $21,255 as at June 30, 2016.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">During the year ended December 31, 2012, the Company commenced development of a social bingo game. During the quarter ended March 31, 2014, the Company launched Trophy Bingo on Android in selected markets. The Company ceased to capitalize the development costs and commenced the amortization of the capitalized development costs over a period of three years.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 35%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">June 30, 2016</font></td> <td style="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="width: 14%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">Capitalized Expenses</font></td> <td style="width: 7%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="width: 14%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">Accumulated amortization</font></td> <td style="width: 6%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 8.25pt; text-align: right; text-indent: -8.25pt"><font style="font-weight: normal">Net book</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font-weight: normal">Value</font></p></td></tr> <tr style="vertical-align: top; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td></tr> <tr> <td style="vertical-align: top; border-bottom: Black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">Trophy Bingo capitalized development expenses</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">1,446,038</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">1,205,032</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: center; font-weight: bold"><font style="font-weight: normal">241,006</font></td></tr> </table> <p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 35%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">December 31, 2015</font></td> <td style="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="width: 14%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">Capitalized Expenses</font></td> <td style="width: 7%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="width: 14%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">Accumulated amortization</font></td> <td style="width: 6%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 8.25pt; text-align: right; text-indent: -8.25pt"><font style="font-weight: normal">Net book</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font-weight: normal">Value</font></p></td></tr> <tr style="vertical-align: top; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td></tr> <tr> <td style="vertical-align: top; border-bottom: Black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">Trophy Bingo capitalized development expenses</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">1,446,038</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">964,025</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: center; font-weight: bold"><font style="font-weight: normal">482,013</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">During the 2015 fiscal year, the Company expensed $1,230,216 in development costs. During the quarter ended June 30, 2016, the Company expensed $251,534 (June 30, 2015 - $318,617) in development costs. The Company has incurred $4,326,553 in total development expenses as at June 30, 2016.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">Effective December 31, 2014, the Company sold the www.bingo.com domain name to Unibet Group plc. for cash consideration of $2,000,000 and redemption of the 15,000,000 common shares of the Company, which were held by Unibet Group plc, at a price of $0.40 per share. The 15,000,000 common shares held by Unibet have been returned to the Company's treasury and were cancelled.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">In addition, the Company disposed its cash bingo business to Unibet Group plc. The company recognized the gain on the sale of the cash bingo business of $16,305 in the quarter ended March 31, 2015.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Common stock issuances:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">No shares were issued during the quarter ended March 31, 2016.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">During the quarter ended June 30, 2016, the Company closed two private placements for 3,337,934 common shares at $0.60 per share which raised proceeds of CAD$ 2,002,760, net of issuance costs of $49,124.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Stock option plans:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">No options were granted or exercised during the period ended June 30, 2016.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Escrow shares</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">In conjunction with the Listing Application for the TSX-V listing, the Company's major shareholders were required to place 33,909,104 common shares of the Company in escrow under the terms of a TSX-V Tier 1 issuer. The escrow shares will be released in thirty three percent (33%) tranches on the dates that are six, twelve and eighteen months after the listing date. 11,303,035 was released during the year end December 31, 2015. The Escrow Shares will be released as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr> <td style="vertical-align: top; width: 67%; border-top: Black 1pt solid; border-bottom: black 1pt solid; padding-left: 5.4pt; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: top; width: 4%; border-top: Black 1pt solid; border-bottom: black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; width: 29%; border-top: Black 1pt solid; border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">Number of shares</font></td></tr> <tr> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold">&#160;</td></tr> <tr> <td style="vertical-align: top; text-align: left; font-weight: bold"><font style="font-weight: normal">Balance December 31, 2015</font></td> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold"><font style="font-weight: normal">22,606,069</font></td></tr> <tr> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold">&#160;</td></tr> <tr> <td style="vertical-align: top; text-align: left; font-weight: bold"><font style="font-weight: normal">Released in the quarter ending June 30, 2016</font></td> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold"><font style="font-weight: normal">(11,303,035)</font></td></tr> <tr> <td style="vertical-align: top; border-bottom: Black 1pt solid; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: top; border-bottom: Black 1pt solid; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td></tr> <tr> <td style="vertical-align: top; text-align: left; font-weight: bold"><font style="font-weight: normal">Balance June 30, 2016</font></td> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold"><font style="font-weight: normal">11,303,034</font></td></tr> <tr> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold">&#160;</td></tr> <tr> <td style="vertical-align: top; text-align: left; font-weight: bold"><font style="font-weight: normal">Shares eligible for release in 2016</font></td> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold"><font style="font-weight: normal">(11,303,034)</font></td></tr> <tr> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">Balance December 31, 2016</font></td> <td style="border-top: Black 1pt solid; border-bottom: Black 1.5pt double; text-align: left; font-weight: bold">&#160;</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The Company leases office facilities in Vancouver, British Columbia, Canada, and The Valley, Anguilla, British West Indies. These office facilities are leased under operating lease agreements. The Canadian operating lease expires on April 30, 2017. The Anguillan operating lease automatically renews every 3 months unless 3 months notice is given.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">Minimum lease payments under these operating leases are approximately as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48%; border-top: Black 1pt solid; text-align: left; font-weight: bold">&#160;</td> <td style="width: 33%; border-top: Black 1pt solid; padding-right: 6.3pt; text-align: right; font-weight: bold">&#160;</td> <td style="width: 19%; border-top: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">2016</font></td> <td style="padding-right: 6.3pt; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">8,561</font></td></tr> <tr style="vertical-align: top; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">2017</font></td> <td style="padding-right: 6.3pt; text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">5,207</font></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold">&#160;</td> <td style="border-bottom: black 1pt solid; padding-right: 6.3pt; text-align: right; font-weight: bold">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold">&#160;</td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The Company paid rent expense totaling $5,628 for the quarter ended June 30, 2016 (June 30, 2015 - $5,749).&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The Company has a management consulting agreement with T.M. Williams (Row), Inc., an Anguilla incorporated company, and Mr. Williams, a related party, for a consultancy payment based on the Company's performance with a minimum of $11,000 and a maximum of $25,000 per month.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The Company has a management consulting agreement with Jayska Consulting Ltd. and Mr. J. M. Williams, Chief Executive Officer of Shoal Games Ltd. for the provision of services of Mr. J. M. Williams as Chief Executive Officer of the Company. The Consulting agreement provides for a consultancy payment of GBP5,000 per month payable in arrears.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The Company has a management consulting agreement with LVA Media Inc. and Mr. J. M. Williams, for the provision of services of Mr. J. M. Williams as Chief Executive Officer of Shoal Games Ltd. The Consulting agreement provides for a consultancy payment based on the Company's performance with a minimum of $7,500 and a maximum of $25,000 per month.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">Shoal Games Ltd. is domiciled in the tax-free jurisdiction of Anguilla, British West Indies. However certain of the Company's subsidiaries incur income taxation.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at June 30, 2016, and December 31, 2015, are presented below:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 52%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: left; font-weight: bold">&#160;</td> <td style="width: 8%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: left; font-weight: bold">&#160;</td> <td style="width: 16%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font-weight: normal">June 30,</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font-weight: normal">2016</font></p></td> <td style="width: 8%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="width: 16%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">December 31,<br /> 2015</font></td></tr> <tr style="vertical-align: top; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Deferred tax assets:</font></td> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="padding-right: -4.95pt; text-align: left; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">&#160;&#160; Net operating loss carry forwards</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">15,692</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="padding-right: 2pt; text-align: right; font-weight: bold"><font style="font-weight: normal">17,898</font></td></tr> <tr style="vertical-align: top; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: top"> <td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">&#160;&#160; Valuation Allowance</font></td> <td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">(15,692)</font></td> <td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">(17,898)</font></td></tr> <tr style="vertical-align: top; background-color: #66FFFF"> <td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-&#160;</font></td> <td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-&#160;</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those differences become deductible.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in assessing the realizability of deferred tax assets.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The Company has a liability of $nil (December 31, 2015 - $2,391) to a company owned by a current director and officer of the Company for payment of services rendered of $33,000 (June 30, 2015 - $33,000) by the current director and officer of the Company.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The Company has a liability of $1,554 (December 31, 2015 - $6,507) to a current director and officer of the Company for expenses incurred.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The Company has a liability of $nil (December 31, 2015 - $14,804) to a company owned by a current director and officer of the Company for payment of services rendered of $21,514 (June 30, 2015 - $22,972) by the current director and officer of the Company.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The Company has a liability of $nil (December 31, 2015 - $nil) to a company owned by a current director and officer of the Company for payment of services rendered of $22,500 (June 30, 2015 - $22,500) by the current director and officer of the Company.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The Company has a liability of $3,474 (December 31, 2015 - $831) to a company owned by a current director of the Company for payment of services rendered of $3,394 (June 30, 2015 - $3,077) by the current director of the Company.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The Company has a liability of $10,500 (December 31, 2015 - $6,500), to independent directors of the Company for payment of services rendered. During the quarter ended June 30, 2016, the Company accrued $2,000 (June 30, 2015 - $2,000) to the independent directors in director fees.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The Company has a liability of $3,642 (December 31, 2015 - $1,533), to an officer of the Company for payment of services rendered and expenses incurred of $13,498 (June 30, 2015 - $15,777) by the officer of the Company.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The related party transactions are in the normal course of operations and were measured at the exchange amount, which is the amount of consideration established and agreed to by the related party.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal"><u>Revenue</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">During the quarter ended June 30, 2016, the Company operated in one reportable business segment from the sale of in-app purchases on Trophy Bingo.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The Company had the following revenue by geographical region.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr> <td nowrap="nowrap" style="vertical-align: bottom; width: 34%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold">&#160;</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 3%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold">&#160;</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 15%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold"><font style="font-weight: normal">Six Months ended<br /> June 30, <br /> 2016</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 2%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold">&#160;</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold"><font style="font-weight: normal">Six Months ended<br /> June 30,<br /> 2015</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 2%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold">&#160;</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold"><font style="font-weight: normal">Three Months<br /> ended June 30,<br /> 2016</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 2%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold">&#160;</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold"><font style="font-weight: normal">Three Months<br /> ended June 30,<br /> 2015</font></td></tr> <tr style="vertical-align: bottom; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold; text-decoration: none"><font style="font-weight: normal">&#160;</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td colspan="3" style="text-align: left; font-weight: bold; text-decoration: underline"><font style="font-weight: normal"><u>Total revenue from continuing operations</u></font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Western Europe</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">24,135</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">1,570</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">9,558</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">437</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Central, Eastern and Southern Europe</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">27</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">37</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">17</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">36</font></td></tr> <tr style="vertical-align: bottom; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Nordics</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">642</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">158</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">234</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">8</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">North America</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">153,768</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">4,885</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">63,920</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">1,899</font></td></tr> <tr style="vertical-align: bottom; background-color: #66FFFF"> <td style="border-bottom: Black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">Other</font></td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">9,808</font></td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">8,295</font></td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">4,092</font></td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">3,873</font></td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">Total revenue from continuing operations</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">188,380</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">14,945</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">77,821</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">6,253</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal"><u>Equipment</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal">The Company's equipment is located as follows:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 47%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">Net Book Value</font></td> <td style="width: 4%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; font-weight: bold">&#160;</td> <td style="width: 21%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><font style="font-weight: normal">June 30, 2016</font></td> <td style="width: 7%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-weight: bold">&#160;</td> <td style="width: 21%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><font style="font-weight: normal">December 31, 2015</font></td></tr> <tr style="vertical-align: top; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="text-align: left; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Anguilla</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">1,175</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">1,410</font></td></tr> <tr style="vertical-align: top; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Canada</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">2,082</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">2,436</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">United Kingdom</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">1,528</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">1,834</font></td></tr> <tr style="vertical-align: top; background-color: #66FFFF"> <td style="border-bottom: Black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">United States of America</font></td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">529</font></td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">634</font></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: Black 1.5pt double; text-align: left; font-weight: bold">&#160;</td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">5,314</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">6,314</font></td></tr> </table> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal"><u>Major customers</u></font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: left"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">For the quarters ended June 30, 2016 and 2015 the Company sold in-app purchases on its social bingo site, Trophy Bingo. There was no single player who had purchased more than 10% of the Trophy Bingo revenue.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and accounts receivable.&#160; The Company places its cash with high quality financial institutions and limits the amount of credit exposure with any one institution.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The Company currently maintains a substantial portion of its day-to-day operating cash balances at financial institutions. At June 30, 2016, the Company had total cash balances of $187,516 (December 31, 2015 - $570,086) at financial institutions, where $61,398 (December 31, 2015 - $303,983) is in excess of federally insured limits.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">As of June 30, 2016, the Company had two customers totaling $24,030, who accounted for total accounts receivable greater than 10%. As of December 31, 2015, the Company had three customers, totaling $40,818 who accounted for greater than 10% of the total accounts receivable.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-weight: normal">The Company controls credit risk through monitoring procedures and receiving prepayments of cash for services rendered.&#160; The Company performs credit evaluations of its customers but generally does not require collateral to support accounts receivable.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><font style="font-weight: normal">These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (&#34;US GAAP&#34;) applicable to annual financial information and with the rules and regulations of the United States Securities and Exchange Commission. The financial statements include the accounts of the Company's wholly-owned subsidiaries, Shoal Media (Canada) Inc. (registered in British Columbia, Canada), Coral Reef Marketing Inc. (registered in Anguilla), Bingo.com (Antigua) Inc., Bingo.com (Wyoming) Inc., Bingo Acquisition Corp, Shoal Media Inc. (registered in Anguilla), and the 99% owned subsidiary, Shoal Games (UK) Plc (registered in the United Kingdom). During the quarter ended March 31, 2016, English Bay Office Management Limited changed its name to Shoal Media (Canada) Inc. All inter-company balances and transactions have been eliminated in the consolidated financial statements.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.35pt; text-align: justify"><font style="font-weight: normal">The preparation of consolidated financial statements in conformity with U.S. GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and recognized revenues and expenses for the reporting periods.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.35pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">Significant areas requiring the use of estimates include the valuation of long-lived assets, the collectibility of accounts receivable and the valuation of deferred tax assets.&#160; Actual results may differ significantly from these estimates.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">Trophy Bingo revenues have been recognized from the sale of in-game purchases, net of platform fees, at the time of purchase by the player. The revenue from in-game advertising is recognized when advertising is served to the player.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">Advertising revenues, not generated in Trophy Bingo, have been recognized when collection of the amounts are reasonably assured.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.35pt; text-align: justify"><font style="font-weight: normal">The consolidated financial statements are presented in United States dollars, the functional currency of the Company and its subsidiaries. The Company accounts for foreign currency transactions and the translation of foreign currency financial statements under Statement ASC 830, Foreign Currency Matters. Transaction amounts denominated in foreign currencies are translated at exchange rates prevailing at the transaction dates. Carrying values of monetary assets and liabilities are adjusted at each balance sheet date to reflect the exchange rate at that date.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.35pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.35pt; text-align: justify"><font style="font-weight: normal">Non-monetary assets and liabilities are translated at the exchange rate on the original transaction date.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.35pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">Gains and losses from restatement of foreign currency monetary and non-monetary assets and liabilities are included in net income. Revenues and expenses are translated at the rates of exchange prevailing on the dates such items are recognized in earnings.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">The Company accounts for long-lived assets in accordance with the provisions of ASC 360, Property, Plant and Equipment and ASC 350, Intangibles-Goodwill and Others. During the periods presented, the only long-lived assets reported on the Company's consolidated balance sheet are equipment, other assets, and security deposits.&#160; These provisions require that long-lived assets and certain identifiable recorded intangibles be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.&#160; Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets.&#160; Assets to be disposed of are reported at the lower of the carrying amount and the fair value less costs to sell.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">Software development costs incurred in the research and development of new software products and enhancements to existing software products for external use are expensed as incurred until technological feasibility has been established. After technological feasibility is established, any software development costs are capitalized and amortized at the greater of the straight-line basis over the estimated economic life of the related product or the ratio that current gross revenues for a product bear to the total of current and anticipated future gross revenues for the related product. Commencing January 1, 2014, the Company obtained technological feasibility and is amortizing the capitalized software development costs over a period of 3 years. The Company performs an annual review of the estimated economic life and the recoverability of such capitalized software costs, using a net realizable value test.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">If a determination is made that capitalized amounts are not recoverable based on the estimated cash flows to be generated from the applicable software, any remaining capitalized amounts are written off. Although the Company believes that its approach to estimates and judgments as described herein is reasonable, actual results could differ and the Company may be exposed to increases or decreases in revenue that could be material.&#160; Total software development costs for the development of Trophy Bingo were $4,326,553 as at June 30, 2016 (June 30, 2015 - $3,259,074).</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers and issued subsequent amendments to the initial guidance in August 2015, March 2016, April 2016, and May 2016 within ASU 2015-04, ASU 2016-08, ASU 2016-10, ASU 2016-11 and ASU 2016-12, respectively. The guidance in this update supersedes the revenue recognition requirements in ASC 605, Revenue Recognition, and most industry-specific guidance throughout the Codification. Additionally, this update supersedes some cost guidance included in ASC 605-35, Revenue Recognition - Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (for example, assets within the scope of ASC 360, Property, Plant, and Equipment, and intangible assets, within the scope of ASC 350, Intangibles - Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement in this update. The standard was to be effective for the Company as of January 1, 2017, but in August 2015, the FASB delayed the effective date of the new revenue accounting standard to January 1, 2019, and would permit early adoption as of the original effective date. Earlier adoption is not otherwise permitted for public entities. An entity can apply the revenue standard retrospectively to each prior reporting period presented (full retrospective method) or retrospectively with the cumulative effect of initially applying the standard recognized at the date of initial application in retained earnings (simplified transition method). The Company is currently assessing the impact of this update on its consolidated financial statements. The Company has not yet selected an adoption date, a transition method nor has it determined the effect of the standard on its ongoing financial reporting.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In June 2014, the FASB issued ASU No. 2014-12, Compensation-Stock Compensation. This guidance requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the periods for which the requisite service has already been rendered. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and can be applied either prospectively or retrospectively to all awards outstanding as of the beginning of the earliest annual period presented as an adjustment to opening retained earnings. Early adoption is permitted. The adoption of ASU 2014-12 did not have a material impact on our financial condition, liquidity or results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern (&#34;ASU 2014-15&#34;). ASU 2014-15 provides guidance about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and sets rules for how this information should be disclosed in the financial statements. ASU 2014-15 is effective for annual periods ending after December 15, 2016 and interim periods thereafter. Early adoption is permitted. The Company is evaluating the effect of ASU 2014-15 on our consolidated financial condition and results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In November 2014, the FASB issued ASU No. 2014-16, Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity. This standard requires an entity to &#34;determine the nature of the host contract by considering all stated and implied substantive terms and features of the hybrid financial instrument, weighing each term and feature on the basis of the relevant facts and circumstances which the hybrid financial instrument was issued or acquired and the potential outcome of the hybrid financial instrument.&#160; ASU 2014-16 is effective for annual periods ending after December 15, 2015 and interim periods thereafter. Early adoption is permitted. The adoption of ASU 2014-16 did not have a material impact on our financial condition, liquidity or results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In January 2015, the FASB issued ASU 2015-01, which eliminates from GAAP the concept of extraordinary items. If an event or transaction meets the criteria for extraordinary classification, it is segregated from the results of ordinary operations and is shown as a separate item in the income statement, net of tax. ASU 2015-01 is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. The adoption of ASU 2015-01 did not have a material impact on our financial condition, liquidity or results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In February 2015, the FASB issued ASU 2015-02, which provides guidance for reporting entities that are required to evaluate whether they should consolidate certain legal entities. In accordance with ASU 2015-02, all legal entities are subject to reevaluation under the revised consolidation model. ASU 2015-02 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. The adoption of ASU 2015-02 did not have a material impact on our financial condition, liquidity or results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">On April 1, 2015, the FASB voted to defer the effective date of ASU No. 2014-09, which outlines a single comprehensive model for entities to use in accounting for revenues arising from contracts with customers and notes that lease contracts with customers are a scope exception. Public business entities may elect to adopt the amendments as of the original effective date; however, if the proposed deferral is approved, adoption is required for annual reporting periods beginning after December 15, 2017. We are currently assessing the impact of the guidance on our consolidated financial statements.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">On April 17, 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs , which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability.&#160; Currently, debt issuance costs are recorded as an asset and amortization of these deferred financing costs is recorded in interest expense.&#160; Under the new standard, debt issuance costs will continue to be amortized over the life of the debt instrument and amortization will continue to be recorded in interest expense.&#160; The new standard is effective for the Company on January 1, 2016 and will be applied on a retrospective basis.&#160; The adoption of ASU 2015-03 did not have a material impact on our financial condition, liquidity or results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">The FASB has issued ASU 2015-05, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement.&#160; The amendments in ASU 2015-05 provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The amendments do not change the accounting for a customer's accounting for service contracts. As a result of the amendments, all software licenses within the scope of Subtopic 350-40 will be accounted for consistent with other licenses of intangible assets.&#160; ASU 2015-05 is effective for public entities for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. The adoption of ASU 2015-05 did not have a material impact on our financial condition, liquidity or results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments guidance to simplify the accounting for adjustments in a business combination. An acquirer should recognize adjustments to provisional amounts with a corresponding adjustment of goodwill, as well as the effect on earnings of changes in depreciation, amortization or other income effects, in the reporting period in which the adjustments are identified as if the accounting had been completed at the acquisition date. Disclosure is required, by line item, of the amount recorded in current period earnings that would have been recorded in previous reporting periods. This guidance is effective for fiscal years and interim periods beginning after December 15, 2015, and requires prospective application. Early adoption is permitted. The adoption of ASU 2015-16 did not have a material impact on our financial condition, liquidity or results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes , which requires deferred income tax liabilities and assets to be classified as noncurrent on the balance sheet rather than being separated into current and noncurrent. The guidance is effective for public entities for annual periods beginning after December 15, 2016, and interim periods within those annual periods with early adoption being permitted. The Company is still assessing the potential impact of ASU 2015-17 on its consolidated financial statements.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (&#34;ASU 2016-01&#34;), which requires that equity investments, except for those accounted for under the equity method or those that result in consolidation of the investee, be measured at fair value, with subsequent changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. ASU 2016-01 also impacts the presentation and disclosure requirements for financial instruments. ASU 2016-01 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted only for certain provisions. The Company does not expect that the adoption of ASU 2016-01 will have a material effect on its consolidated financial statements.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to recognize most leases on the balance sheet. This ASU requires lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Lessees are permitted to make an accounting policy election to not recognize the asset and liability for leases with a term of twelve months or less. The ASU does not significantly change the lessees' recognition, measurement and presentation of expenses and cash flows from the previous accounting standard. Lessors' accounting under the ASC is largely unchanged from the previous accounting standard. In addition, the ASU expands the disclosure requirements of lease arrangements. Lessees and lessors will use a modified retrospective transition approach, which includes a number of practical expedients. The provisions of this guidance are effective for annual periods beginning after December 15, 2018, and interim periods within those years, with early adoption permitted. Management is evaluating the requirements of this guidance and has not yet determined the impact of the adoption on the Company's financial position or results of operations.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (&#34;ASU 2016-09&#34;), which addresses how companies account for certain aspects of share-based payments to employees. Entities will be required to recognize the income tax effects of awards in the statement of income when the awards vest or are settled, and to present excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity. The ASU also addresses such areas as an accounting policy election for forfeitures and the amount an employer can withhold to cover income taxes and still qualify for equity classification. The amendments in this ASU will be effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard on its consolidated financial statements.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">There have been no other recent accounting standards, or changes in accounting standards, during the quarter ended June 30, 2016, as compared to the recent accounting standards described in the Annual Report, that are of material significance, or have potential material significance, to us.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">(i)&#160; Fair values:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">The fair value of accounts receivable, accounts payable, accrued liabilities and accounts payable and accrued liabilities - related party approximate their financial statement carrying amounts due to the short-term maturities of these instruments.&#160; Cash is carried at fair value using a level 1 fair value measurement.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little, if any, market activity for the asset.&#160; The Company's cash was measured using Level 1 inputs.</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">(ii)&#160; Foreign currency risk:</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">&#160;</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 35.45pt; text-align: justify"><font style="font-weight: normal">The Company operates internationally, which gives rise to the risk that cash flows may be adversely impacted by exchange rate fluctuations.&#160; The Company has not entered into any forward exchange contracts or other derivative instrument to hedge against foreign exchange risk.</font></p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 35%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">June 30, 2016</font></td> <td style="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="width: 14%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">Capitalized Expenses</font></td> <td style="width: 7%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="width: 14%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">Accumulated amortization</font></td> <td style="width: 6%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 8.25pt; text-align: right; text-indent: -8.25pt"><font style="font-weight: normal">Net book</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font-weight: normal">Value</font></p></td></tr> <tr style="vertical-align: top; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td></tr> <tr> <td style="vertical-align: top; border-bottom: Black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">Trophy Bingo capitalized development expenses</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">1,446,038</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">1,205,032</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: center; font-weight: bold"><font style="font-weight: normal">241,006</font></td></tr> </table> <p style="font: bold 8pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 35%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">December 31, 2015</font></td> <td style="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="width: 14%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">Capitalized Expenses</font></td> <td style="width: 7%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="width: 14%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">Accumulated amortization</font></td> <td style="width: 6%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0 0 0 8.25pt; text-align: right; text-indent: -8.25pt"><font style="font-weight: normal">Net book</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font-weight: normal">Value</font></p></td></tr> <tr style="vertical-align: top; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td></tr> <tr> <td style="vertical-align: top; border-bottom: Black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">Trophy Bingo capitalized development expenses</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">1,446,038</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">964,025</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="vertical-align: bottom; border-bottom: Black 1.5pt double; text-align: center; font-weight: bold"><font style="font-weight: normal">482,013</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr> <td style="vertical-align: top; width: 67%; border-top: Black 1pt solid; border-bottom: black 1pt solid; padding-left: 5.4pt; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: top; width: 4%; border-top: Black 1pt solid; border-bottom: black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; width: 29%; border-top: Black 1pt solid; border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">Number of shares</font></td></tr> <tr> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold">&#160;</td></tr> <tr> <td style="vertical-align: top; text-align: left; font-weight: bold"><font style="font-weight: normal">Balance December 31, 2015</font></td> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold"><font style="font-weight: normal">22,606,069</font></td></tr> <tr> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold">&#160;</td></tr> <tr> <td style="vertical-align: top; text-align: left; font-weight: bold"><font style="font-weight: normal">Released in the quarter ending June 30, 2016</font></td> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold"><font style="font-weight: normal">(11,303,035)</font></td></tr> <tr> <td style="vertical-align: top; border-bottom: Black 1pt solid; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: top; border-bottom: Black 1pt solid; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td></tr> <tr> <td style="vertical-align: top; text-align: left; font-weight: bold"><font style="font-weight: normal">Balance June 30, 2016</font></td> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold"><font style="font-weight: normal">11,303,034</font></td></tr> <tr> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold">&#160;</td></tr> <tr> <td style="vertical-align: top; text-align: left; font-weight: bold"><font style="font-weight: normal">Shares eligible for release in 2016</font></td> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold"><font style="font-weight: normal">(11,303,034)</font></td></tr> <tr> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: top; text-align: left; font-weight: bold">&#160;</td> <td style="vertical-align: bottom; text-align: right; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-bottom: Black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">Balance December 31, 2016</font></td> <td style="border-top: Black 1pt solid; border-bottom: Black 1.5pt double; text-align: left; font-weight: bold">&#160;</td> <td style="border-top: Black 1pt solid; border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">-</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48%; border-top: Black 1pt solid; text-align: left; font-weight: bold">&#160;</td> <td style="width: 33%; border-top: Black 1pt solid; padding-right: 6.3pt; text-align: right; font-weight: bold">&#160;</td> <td style="width: 19%; border-top: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">2016</font></td> <td style="padding-right: 6.3pt; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">8,561</font></td></tr> <tr style="vertical-align: top; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">2017</font></td> <td style="padding-right: 6.3pt; text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">5,207</font></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold">&#160;</td> <td style="border-bottom: black 1pt solid; padding-right: 6.3pt; text-align: right; font-weight: bold">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold">&#160;</td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td nowrap="nowrap" style="width: 52%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: left; font-weight: bold">&#160;</td> <td nowrap="nowrap" style="width: 8%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: left; font-weight: bold">&#160;</td> <td nowrap="nowrap" style="width: 16%; border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font-weight: normal">June 30,</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font-weight: normal">2016</font></p></td> <td nowrap="nowrap" style="width: 8%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td nowrap="nowrap" style="width: 16%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">December 31,<br /> 2015</font></td></tr> <tr style="vertical-align: top; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Deferred tax assets:</font></td> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="padding-right: -4.95pt; text-align: left; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">&#160;&#160; Net operating loss carry forwards</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">15,692</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="padding-right: 2pt; text-align: right; font-weight: bold"><font style="font-weight: normal">17,898</font></td></tr> <tr style="vertical-align: top; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: top"> <td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">&#160;&#160; Valuation Allowance</font></td> <td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">(15,692)</font></td> <td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">(17,898)</font></td></tr> <tr style="vertical-align: top; background-color: #66FFFF"> <td style="border-bottom: black 1pt solid; text-align: left; font-weight: bold">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-&#160;</font></td> <td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="border-bottom: black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">-&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr> <td nowrap="nowrap" style="vertical-align: bottom; width: 34%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold">&#160;</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 3%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold">&#160;</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 15%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold"><font style="font-weight: normal">Six Months ended<br /> June 30, <br /> 2016</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 2%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold">&#160;</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold"><font style="font-weight: normal">Six Months ended<br /> June 30,<br /> 2015</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 2%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold">&#160;</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold"><font style="font-weight: normal">Three Months<br /> ended June 30,<br /> 2016</font></td> <td nowrap="nowrap" style="vertical-align: bottom; width: 2%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold">&#160;</td> <td nowrap="nowrap" style="vertical-align: bottom; width: 14%; border-top: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-weight: bold"><font style="font-weight: normal">Three Months<br /> ended June 30,<br /> 2015</font></td></tr> <tr style="vertical-align: bottom; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold; text-decoration: none"><font style="font-weight: normal">&#160;</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom"> <td colspan="3" style="text-align: left; font-weight: bold; text-decoration: underline"><font style="font-weight: normal"><u>Total revenue from continuing operations</u></font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Western Europe</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">24,135</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">1,570</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">9,558</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">437</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Central, Eastern and Southern Europe</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">27</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">37</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">17</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">36</font></td></tr> <tr style="vertical-align: bottom; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Nordics</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">642</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">158</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">234</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">8</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">North America</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">153,768</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">4,885</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">63,920</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">1,899</font></td></tr> <tr style="vertical-align: bottom; background-color: #66FFFF"> <td style="border-bottom: Black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">Other</font></td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">9,808</font></td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">8,295</font></td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">4,092</font></td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">3,873</font></td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt double; text-align: left; font-weight: bold"><font style="font-weight: normal">Total revenue from continuing operations</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">188,380</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">14,945</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">77,821</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">6,253</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 47%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">Net Book Value</font></td> <td style="width: 4%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: left; font-weight: bold">&#160;</td> <td style="width: 21%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><font style="font-weight: normal">June 30, 2016</font></td> <td style="width: 7%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-weight: bold">&#160;</td> <td style="width: 21%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><font style="font-weight: normal">December 31, 2015</font></td></tr> <tr style="vertical-align: top; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="text-align: left; font-weight: bold">&#160;</td> <td style="text-align: left; font-weight: bold">&#160;</td></tr> <tr style="vertical-align: top"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Anguilla</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">1,175</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">1,410</font></td></tr> <tr style="vertical-align: top; background-color: #66FFFF"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">Canada</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">2,082</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">2,436</font></td></tr> <tr style="vertical-align: top"> <td style="text-align: left; font-weight: bold"><font style="font-weight: normal">United Kingdom</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">1,528</font></td> <td style="text-align: right; font-weight: bold">&#160;</td> <td style="text-align: right; font-weight: bold"><font style="font-weight: normal">1,834</font></td></tr> <tr style="vertical-align: top; background-color: #66FFFF"> <td style="border-bottom: Black 1pt solid; text-align: left; font-weight: bold"><font style="font-weight: normal">United States of America</font></td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">529</font></td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: right; font-weight: bold"><font style="font-weight: normal">634</font></td></tr> <tr style="vertical-align: top"> <td style="border-bottom: Black 1.5pt double; text-align: left; font-weight: bold">&#160;</td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">5,314</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">$</font></td> <td style="border-bottom: Black 1.5pt double; text-align: right; font-weight: bold"><font style="font-weight: normal">6,314</font></td></tr> </table> 863660 816438 468917 631654 251534 318617 21255 EX-101.SCH 7 sgldf-20160630.xsd SHOAL GAMES LTD. Q2 2016 FORM 10-Q SCH 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - Consolidated Balance Sheets (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - Consolidated Balance Sheets (Unaudited) (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - Consolidated Statements of Operations and Comprehensive Loss (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - Consolidated Statements of Stockholders' Equity (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000006 - Statement - Consolidated Statements of Cash Flows (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000007 - Disclosure - 1. Basis of Presentation link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - 2. Summary of significant accounting policies link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - 3. Prepaid Expenses link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - 4. Other assets link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - 5. Discontinued Operations link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - 6. Stockholders' Equity link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - 7. Commitments link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - 8. Income Taxes link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - 9. Related Party Transactions link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - 10. Segmented information link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - 11. Concentrations link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - 12. Concentrations of Credit Risk link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - 2. Summary of significant accounting policies (Policies) link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - 4. Other assets (Tables) link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - 6. Stockholders' Equity (Tables) link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - 7. Commitments (Tables) link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - 8. Income Taxes (Tables) link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - 10. Segmented information (Tables) link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - 1. Basis of Presentation (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - 2. Summary of significant accounting policies (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - 3. Prepaid Expenses (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - 4. Other assets (Details) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - 4. Other assets (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - 5. Discontinued Operations (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000031 - Disclosure - 6. Stockholders' Equity (Details) link:presentationLink link:calculationLink link:definitionLink 00000032 - Disclosure - 6. Stockholders' Equity (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000033 - Disclosure - 7. Commitments (Details) link:presentationLink link:calculationLink link:definitionLink 00000034 - Disclosure - 7. Commitments (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000035 - Disclosure - 8. Income Taxes (Details) link:presentationLink link:calculationLink link:definitionLink 00000036 - Disclosure - 10. Segmented information (Details) link:presentationLink link:calculationLink link:definitionLink 00000037 - Disclosure - 10. Segmented information (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000038 - Disclosure - 12. Concentrations of Credit Risk (Details Narrative) link:presentationLink link:calculationLink link:definitionLink XML 8 R1.htm IDEA: XBRL DOCUMENT v3.5.0.2
Document and Entity Information - shares
6 Months Ended
Jun. 30, 2016
Aug. 15, 2016
Document And Entity Information    
Entity Registrant Name SHOAL GAMES LTD.  
Entity Central Index Key 0001318482  
Document Type 10-Q  
Document Period End Date Jun. 30, 2016  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Is Entity a Well-known Seasoned Issuer? No  
Is Entity a Voluntary Filer? No  
Is Entity's Reporting Status Current? Yes  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   59,535,637
Document Fiscal Period Focus Q2  
Document Fiscal Year Focus 2016  
XML 9 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash $ 187,516 $ 570,086
Accounts receivable less allowance for doubtful accounts $nil (December 31, 2015 - $nil) 37,869 44,948
Prepaid expenses (Note 3) 864,917 17,205
Total Current Assets 1,090,302 632,239
Equipment, net 5,314 6,314
Other assets (Note 4) 241,006 482,013
Security deposits 9,613 8,960
Deferred tax asset, less valuation allowance of $15,692 (December 31, 2015 - $17,898) (Note 8) 0 0
Total Assets 1,346,235 1,129,526
Current liabilities:    
Accounts payable 54,495 74,200
Accrued liabilities 62,318 71,026
Accounts payable and accrued liabilities - related party (Note 9) 19,170 32,566
Total Current Liabilities 135,983 177,792
Commitments (Note 7)
Stockholders' equity (Note 6):    
Common stock, no par value, unlimited shares authorized, 59,535,637 shares issued and outstanding (December 31, 2015 - 56,197,703) 20,847,644 19,334,290
Accumulated deficit (19,661,972) (18,407,136)
Accumulated other comprehensive income:    
Foreign currency translation adjustment 24,580 24,580
Total Stockholders' Equity 1,210,252 951,734
Total Liabilities and Stockholders' Equity $ 1,346,235 $ 1,129,526
XML 10 R3.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)
6 Months Ended 12 Months Ended
Jun. 30, 2016
Dec. 31, 2015
Assets    
Allowance for doubtful accounts $ 0 $ 0
Valuation allowance for deferred tax asset $ 15,692 $ 17,898
Stockholders' equity    
Common stock, par value $ 0.00 $ 0.00
Common stock, authorized shares unlimited unlimited
Common stock, issued shares 59,535,637 56,197,703
Common stock, outstanding shares 59,535,637 56,197,703
XML 11 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Consolidated Statements Of Operations And Comprehensive Loss        
Total revenue $ 77,821 $ 6,253 $ 188,380 $ 14,945
Cost of sales:        
Trophy Bingo amortization (Note 4) 120,504 120,503 241,007 241,006
Total cost of sales 120,504 120,503 241,007 241,006
Gross loss (42,683) (114,250) (52,627) (226,061)
Operating expenses:        
Depreciation and amortization 500 763 1,000 1,526
Directors fees 2,000 2,000 4,000 4,000
General and administrative 34,410 121,867 120,604 239,561
Salaries, wages, consultants and benefits 105,887 108,247 219,020 220,820
Selling and marketing 166,758 28,862 368,345 75,138
Trophy Bingo development (Note 4) 251,534 318,617 468,917 631,654
Total operating expenses 561,089 580,356 1,181,886 1,172,699
Loss before other income (expense) and income taxes (603,772) (694,606) (1,234,513) (1,398,760)
Other income (expense):        
Foreign exchange gain (loss) (17,222) 27,835 (20,433) (6,255)
Interest and other income 17 259 101 538
Loss from continuing operations before income taxes (620,977) (666,512) (1,254,845) (1,404,477)
Income tax recovery 9 0 9 0
Loss from continuing operations (620,968) (666,512) (1,254,836) (1,404,477)
Discontinued operations: (Note 5)        
Gain from the sale of the domain name 0 0 0 16,305
Loss after tax (620,968) (666,512) (1,254,836) (1,388,172)
Other comprehensive income (loss) 0 0 0 0
Comprehensive loss $ (620,968) $ (666,512) $ (1,254,836) $ (1,388,172)
Basic and diluted profit (loss) per common share        
Continuing operations $ (0.01) $ (0.01) $ (0.02) $ (0.02)
Discontinued operations $ 0.00 $ 0.00 $ 0.00 $ 0.00
Weighted average common shares outstanding, basic 57,474,435 55,682,703 56,829,054 55,682,703
Weighted average common shares outstanding, diluted 57,474,435 55,682,703 56,829,054 55,682,703
XML 12 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 2016 - USD ($)
Common Stock
Accumulated Deficit
Accumulated Other Comprehensive Income/Foreign currency translation adjustment
Total
Beginning balance, Amount at Dec. 31, 2015 $ 19,334,290 $ (18,407,136) $ 24,580 $ 951,734
Beginning balance, Shares at Dec. 31, 2015 56,197,703      
Private placement, net of issuance expenses, Amount $ 1,513,354 1,513,354
Private placement, net of issuance expenses, Shares 3,337,934      
Net loss   (1,254,836)   (1,254,836)
Ending balance, Amount at Jun. 30, 2016 $ 20,847,644 $ (19,661,972) $ 24,580 $ 1,210,252
Ending balance, Shares at Jun. 30, 2016 59,535,637      
XML 13 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net loss $ (1,254,836) $ (1,388,172)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,000 1,526
Trophy Bingo amortization 241,007 241,006
Gain from the sale of the domain name 0 (16,305)
Changes in operating assets and liabilities:    
Accounts receivable 7,079 108,750
Prepaid expenses (847,712) 4,164
Security deposits (653) 609
Accounts payable and accrued liabilities (41,809) 6,732
Net cash used in operating activities (1,895,924) (1,041,690)
Cash flows from investing activities:    
Acquisition of equipment 0 (272)
Software development 0 0
Net cash used in investing activities 0 (272)
Cash flows from financing activities:    
Proceeds from Private placement, net of issuance costs 1,513,354 0
Net cash provided by financing activities 1,513,354 0
Change in cash (382,570) (1,041,962)
Cash, beginning of period 570,086 2,876,386
Cash, end of period 187,516 1,834,424
Supplementary information:    
Interest paid 0 0
Income taxes paid 0 0
Non-cash financing activity 0 0
Non-cash investing activity $ 0 $ 0
XML 14 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
1. Basis of Presentation
6 Months Ended
Jun. 30, 2016
Accounting Policies [Abstract]  
Basis of Presentation

The accompanying unaudited financial statements have been prepared by Shoal Games Ltd. ("the Company") in conformity with accounting principles generally accepted in the United States of America ("US GAAP") applicable to interim financial information and with the rules and regulations of the United States Securities and Exchange Commission.  Accordingly, certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed, or omitted, pursuant to such rules and regulations.  In the opinion of management, the unaudited interim consolidated financial statements include all adjustments necessary for the fair presentation of the results of the interim periods presented.  All adjustments are of a normal recurring nature, except as otherwise noted below.  These unaudited interim consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and notes thereto for the year ended December 31, 2015, included in the Company's Annual Report on Form 10-K, filed March 17, 2016, with the Securities and Exchange Commission.  The results of operations for the interim periods are not necessarily indicative of the results of operations for any other interim period or for a full fiscal year.

 

Continuing operations

 

These unaudited interim consolidated financial statements have been prepared on the going concern basis, which presumes the realization of assets and the settlement of liabilities in the normal course of operations.  The application of the going concern basis is dependent upon the Company achieving profitable operations to generate sufficient cash flows to fund continued operations, or, in the absence of adequate cash flows from operations, obtaining additional financing.  The Company has reported losses from operations for the quarters ended June 30, 2016 and 2015, and has an accumulated deficit of $19,661,972 as at June 30, 2016.  This raises substantial doubt about the Company's ability to continue as a going concern.

 

In view of the matters described in the preceding paragraph, recoverability of a major portion of the recorded asset amounts and settlement of the liability amounts shown in the accompanying balance sheets is dependent upon continued operations of the Company, which in turn is dependent upon the Company's ability to succeed in its future operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue in existence.

 

Management continues to review operations in order to identify additional strategies designed to generate cash flow, improve the Company's financial position, and enable the timely discharge of the Company's obligations.  If management is unable to identify sources of additional cash flow in the short term, it may be required to further reduce or limit operations.

XML 15 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
2. Summary of significant accounting policies
6 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
Summary of significant accounting policies

(a)     Basis of presentation:

 

These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP") applicable to annual financial information and with the rules and regulations of the United States Securities and Exchange Commission. The financial statements include the accounts of the Company's wholly-owned subsidiaries, Shoal Media (Canada) Inc. (registered in British Columbia, Canada), Coral Reef Marketing Inc. (registered in Anguilla), Bingo.com (Antigua) Inc., Bingo.com (Wyoming) Inc., Bingo Acquisition Corp, Shoal Media Inc. (registered in Anguilla), and the 99% owned subsidiary, Shoal Games (UK) Plc (registered in the United Kingdom). During the quarter ended March 31, 2016, English Bay Office Management Limited changed its name to Shoal Media (Canada) Inc. All inter-company balances and transactions have been eliminated in the consolidated financial statements.

 

(b)     Use of estimates:

 

The preparation of consolidated financial statements in conformity with U.S. GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and recognized revenues and expenses for the reporting periods.

 

Significant areas requiring the use of estimates include the valuation of long-lived assets, the collectibility of accounts receivable and the valuation of deferred tax assets.  Actual results may differ significantly from these estimates.

 

(c)     Revenue recognition:

 

Trophy Bingo revenues have been recognized from the sale of in-game purchases, net of platform fees, at the time of purchase by the player. The revenue from in-game advertising is recognized when advertising is served to the player.

 

Advertising revenues, not generated in Trophy Bingo, have been recognized when collection of the amounts are reasonably assured.

 

(d)     Foreign currency:

 

The consolidated financial statements are presented in United States dollars, the functional currency of the Company and its subsidiaries. The Company accounts for foreign currency transactions and the translation of foreign currency financial statements under Statement ASC 830, Foreign Currency Matters. Transaction amounts denominated in foreign currencies are translated at exchange rates prevailing at the transaction dates. Carrying values of monetary assets and liabilities are adjusted at each balance sheet date to reflect the exchange rate at that date.

 

Non-monetary assets and liabilities are translated at the exchange rate on the original transaction date.

 

Gains and losses from restatement of foreign currency monetary and non-monetary assets and liabilities are included in net income. Revenues and expenses are translated at the rates of exchange prevailing on the dates such items are recognized in earnings.

 

(e)     Impairment of long-lived assets and long-lived assets to be disposed of:

 

The Company accounts for long-lived assets in accordance with the provisions of ASC 360, Property, Plant and Equipment and ASC 350, Intangibles-Goodwill and Others. During the periods presented, the only long-lived assets reported on the Company's consolidated balance sheet are equipment, other assets, and security deposits.  These provisions require that long-lived assets and certain identifiable recorded intangibles be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.  Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset.

 

If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets.  Assets to be disposed of are reported at the lower of the carrying amount and the fair value less costs to sell.

 

(g)     Software Development Costs:

 

Software development costs incurred in the research and development of new software products and enhancements to existing software products for external use are expensed as incurred until technological feasibility has been established. After technological feasibility is established, any software development costs are capitalized and amortized at the greater of the straight-line basis over the estimated economic life of the related product or the ratio that current gross revenues for a product bear to the total of current and anticipated future gross revenues for the related product. Commencing January 1, 2014, the Company obtained technological feasibility and is amortizing the capitalized software development costs over a period of 3 years. The Company performs an annual review of the estimated economic life and the recoverability of such capitalized software costs, using a net realizable value test.

 

If a determination is made that capitalized amounts are not recoverable based on the estimated cash flows to be generated from the applicable software, any remaining capitalized amounts are written off. Although the Company believes that its approach to estimates and judgments as described herein is reasonable, actual results could differ and the Company may be exposed to increases or decreases in revenue that could be material.  Total software development costs for the development of Trophy Bingo were $4,326,553 as at June 30, 2016 (June 30, 2015 - $3,259,074).

 

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers and issued subsequent amendments to the initial guidance in August 2015, March 2016, April 2016, and May 2016 within ASU 2015-04, ASU 2016-08, ASU 2016-10, ASU 2016-11 and ASU 2016-12, respectively. The guidance in this update supersedes the revenue recognition requirements in ASC 605, Revenue Recognition, and most industry-specific guidance throughout the Codification. Additionally, this update supersedes some cost guidance included in ASC 605-35, Revenue Recognition - Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (for example, assets within the scope of ASC 360, Property, Plant, and Equipment, and intangible assets, within the scope of ASC 350, Intangibles - Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement in this update. The standard was to be effective for the Company as of January 1, 2017, but in August 2015, the FASB delayed the effective date of the new revenue accounting standard to January 1, 2019, and would permit early adoption as of the original effective date. Earlier adoption is not otherwise permitted for public entities. An entity can apply the revenue standard retrospectively to each prior reporting period presented (full retrospective method) or retrospectively with the cumulative effect of initially applying the standard recognized at the date of initial application in retained earnings (simplified transition method). The Company is currently assessing the impact of this update on its consolidated financial statements. The Company has not yet selected an adoption date, a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

 

In June 2014, the FASB issued ASU No. 2014-12, Compensation-Stock Compensation. This guidance requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the periods for which the requisite service has already been rendered. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and can be applied either prospectively or retrospectively to all awards outstanding as of the beginning of the earliest annual period presented as an adjustment to opening retained earnings. Early adoption is permitted. The adoption of ASU 2014-12 did not have a material impact on our financial condition, liquidity or results of operations.

 

In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern ("ASU 2014-15"). ASU 2014-15 provides guidance about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and sets rules for how this information should be disclosed in the financial statements. ASU 2014-15 is effective for annual periods ending after December 15, 2016 and interim periods thereafter. Early adoption is permitted. The Company is evaluating the effect of ASU 2014-15 on our consolidated financial condition and results of operations.

 

In November 2014, the FASB issued ASU No. 2014-16, Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity. This standard requires an entity to "determine the nature of the host contract by considering all stated and implied substantive terms and features of the hybrid financial instrument, weighing each term and feature on the basis of the relevant facts and circumstances which the hybrid financial instrument was issued or acquired and the potential outcome of the hybrid financial instrument.  ASU 2014-16 is effective for annual periods ending after December 15, 2015 and interim periods thereafter. Early adoption is permitted. The adoption of ASU 2014-16 did not have a material impact on our financial condition, liquidity or results of operations.

 

In January 2015, the FASB issued ASU 2015-01, which eliminates from GAAP the concept of extraordinary items. If an event or transaction meets the criteria for extraordinary classification, it is segregated from the results of ordinary operations and is shown as a separate item in the income statement, net of tax. ASU 2015-01 is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. The adoption of ASU 2015-01 did not have a material impact on our financial condition, liquidity or results of operations.

 

In February 2015, the FASB issued ASU 2015-02, which provides guidance for reporting entities that are required to evaluate whether they should consolidate certain legal entities. In accordance with ASU 2015-02, all legal entities are subject to reevaluation under the revised consolidation model. ASU 2015-02 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. The adoption of ASU 2015-02 did not have a material impact on our financial condition, liquidity or results of operations.

 

On April 1, 2015, the FASB voted to defer the effective date of ASU No. 2014-09, which outlines a single comprehensive model for entities to use in accounting for revenues arising from contracts with customers and notes that lease contracts with customers are a scope exception. Public business entities may elect to adopt the amendments as of the original effective date; however, if the proposed deferral is approved, adoption is required for annual reporting periods beginning after December 15, 2017. We are currently assessing the impact of the guidance on our consolidated financial statements.

 

On April 17, 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs , which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability.  Currently, debt issuance costs are recorded as an asset and amortization of these deferred financing costs is recorded in interest expense.  Under the new standard, debt issuance costs will continue to be amortized over the life of the debt instrument and amortization will continue to be recorded in interest expense.  The new standard is effective for the Company on January 1, 2016 and will be applied on a retrospective basis.  The adoption of ASU 2015-03 did not have a material impact on our financial condition, liquidity or results of operations.

 

The FASB has issued ASU 2015-05, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement.  The amendments in ASU 2015-05 provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The amendments do not change the accounting for a customer's accounting for service contracts. As a result of the amendments, all software licenses within the scope of Subtopic 350-40 will be accounted for consistent with other licenses of intangible assets.  ASU 2015-05 is effective for public entities for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. The adoption of ASU 2015-05 did not have a material impact on our financial condition, liquidity or results of operations.

 

In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments guidance to simplify the accounting for adjustments in a business combination. An acquirer should recognize adjustments to provisional amounts with a corresponding adjustment of goodwill, as well as the effect on earnings of changes in depreciation, amortization or other income effects, in the reporting period in which the adjustments are identified as if the accounting had been completed at the acquisition date. Disclosure is required, by line item, of the amount recorded in current period earnings that would have been recorded in previous reporting periods. This guidance is effective for fiscal years and interim periods beginning after December 15, 2015, and requires prospective application. Early adoption is permitted. The adoption of ASU 2015-16 did not have a material impact on our financial condition, liquidity or results of operations.

 

In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes , which requires deferred income tax liabilities and assets to be classified as noncurrent on the balance sheet rather than being separated into current and noncurrent. The guidance is effective for public entities for annual periods beginning after December 15, 2016, and interim periods within those annual periods with early adoption being permitted. The Company is still assessing the potential impact of ASU 2015-17 on its consolidated financial statements.

 

In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities ("ASU 2016-01"), which requires that equity investments, except for those accounted for under the equity method or those that result in consolidation of the investee, be measured at fair value, with subsequent changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. ASU 2016-01 also impacts the presentation and disclosure requirements for financial instruments. ASU 2016-01 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted only for certain provisions. The Company does not expect that the adoption of ASU 2016-01 will have a material effect on its consolidated financial statements.

 

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to recognize most leases on the balance sheet. This ASU requires lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Lessees are permitted to make an accounting policy election to not recognize the asset and liability for leases with a term of twelve months or less. The ASU does not significantly change the lessees' recognition, measurement and presentation of expenses and cash flows from the previous accounting standard. Lessors' accounting under the ASC is largely unchanged from the previous accounting standard. In addition, the ASU expands the disclosure requirements of lease arrangements. Lessees and lessors will use a modified retrospective transition approach, which includes a number of practical expedients. The provisions of this guidance are effective for annual periods beginning after December 15, 2018, and interim periods within those years, with early adoption permitted. Management is evaluating the requirements of this guidance and has not yet determined the impact of the adoption on the Company's financial position or results of operations.

 

In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting ("ASU 2016-09"), which addresses how companies account for certain aspects of share-based payments to employees. Entities will be required to recognize the income tax effects of awards in the statement of income when the awards vest or are settled, and to present excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity. The ASU also addresses such areas as an accounting policy election for forfeitures and the amount an employer can withhold to cover income taxes and still qualify for equity classification. The amendments in this ASU will be effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard on its consolidated financial statements.

 

There have been no other recent accounting standards, or changes in accounting standards, during the quarter ended June 30, 2016, as compared to the recent accounting standards described in the Annual Report, that are of material significance, or have potential material significance, to us.

 

(i)      Financial instruments:

 

(i)  Fair values:

 

The fair value of accounts receivable, accounts payable, accrued liabilities and accounts payable and accrued liabilities - related party approximate their financial statement carrying amounts due to the short-term maturities of these instruments.  Cash is carried at fair value using a level 1 fair value measurement.

 

In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little, if any, market activity for the asset.  The Company's cash was measured using Level 1 inputs.

 

(ii)  Foreign currency risk:

 

The Company operates internationally, which gives rise to the risk that cash flows may be adversely impacted by exchange rate fluctuations.  The Company has not entered into any forward exchange contracts or other derivative instrument to hedge against foreign exchange risk.

XML 16 R9.htm IDEA: XBRL DOCUMENT v3.5.0.2
3. Prepaid Expenses
6 Months Ended
Jun. 30, 2016
Prepaid Expenses  
Prepaid expenses

During the quarter ended June 30, 2016, the Company prepaid $863,660 for future development expenses for Trophy Bingo and Garfield’s Bingo. During the quarter ended June 30, 2016, $47,222 was expensed. As at June 30, 2016, there is a balance of $816,438 for future development. In addition, the Company has $27,224 of prepaid legal fees for the rights issue. The Company has other prepaid expenses of $21,255 as at June 30, 2016.

XML 17 R10.htm IDEA: XBRL DOCUMENT v3.5.0.2
4. Other assets
6 Months Ended
Jun. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Other assets

During the year ended December 31, 2012, the Company commenced development of a social bingo game. During the quarter ended March 31, 2014, the Company launched Trophy Bingo on Android in selected markets. The Company ceased to capitalize the development costs and commenced the amortization of the capitalized development costs over a period of three years.

 

June 30, 2016   Capitalized Expenses   Accumulated amortization  

Net book

Value

             
Trophy Bingo capitalized development expenses $ 1,446,038 $ 1,205,032 $ 241,006

 

December 31, 2015   Capitalized Expenses   Accumulated amortization  

Net book

Value

             
Trophy Bingo capitalized development expenses $ 1,446,038 $ 964,025 $ 482,013

 

During the 2015 fiscal year, the Company expensed $1,230,216 in development costs. During the quarter ended June 30, 2016, the Company expensed $251,534 (June 30, 2015 - $318,617) in development costs. The Company has incurred $4,326,553 in total development expenses as at June 30, 2016.

XML 18 R11.htm IDEA: XBRL DOCUMENT v3.5.0.2
5. Discontinued Operations
6 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
Discontinued Operations

Effective December 31, 2014, the Company sold the www.bingo.com domain name to Unibet Group plc. for cash consideration of $2,000,000 and redemption of the 15,000,000 common shares of the Company, which were held by Unibet Group plc, at a price of $0.40 per share. The 15,000,000 common shares held by Unibet have been returned to the Company's treasury and were cancelled.

 

In addition, the Company disposed its cash bingo business to Unibet Group plc. The company recognized the gain on the sale of the cash bingo business of $16,305 in the quarter ended March 31, 2015.

XML 19 R12.htm IDEA: XBRL DOCUMENT v3.5.0.2
6. Stockholders' Equity
6 Months Ended
Jun. 30, 2016
Equity [Abstract]  
Stockholders' Equity

(a)        Common stock issuances:

 

No shares were issued during the quarter ended March 31, 2016.

 

During the quarter ended June 30, 2016, the Company closed two private placements for 3,337,934 common shares at $0.60 per share which raised proceeds of CAD$ 2,002,760, net of issuance costs of $49,124.

 

(b)        Stock option plans:

 

No options were granted or exercised during the period ended June 30, 2016.

 

(c)        Escrow shares

 

In conjunction with the Listing Application for the TSX-V listing, the Company's major shareholders were required to place 33,909,104 common shares of the Company in escrow under the terms of a TSX-V Tier 1 issuer. The escrow shares will be released in thirty three percent (33%) tranches on the dates that are six, twelve and eighteen months after the listing date. 11,303,035 was released during the year end December 31, 2015. The Escrow Shares will be released as follows:

 

    Number of shares
     
Balance December 31, 2015   22,606,069
     
Released in the quarter ending June 30, 2016   (11,303,035)
     
Balance June 30, 2016   11,303,034
     
Shares eligible for release in 2016   (11,303,034)
     
Balance December 31, 2016   -
XML 20 R13.htm IDEA: XBRL DOCUMENT v3.5.0.2
7. Commitments
6 Months Ended
Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]  
Commitments

The Company leases office facilities in Vancouver, British Columbia, Canada, and The Valley, Anguilla, British West Indies. These office facilities are leased under operating lease agreements. The Canadian operating lease expires on April 30, 2017. The Anguillan operating lease automatically renews every 3 months unless 3 months notice is given.

 

Minimum lease payments under these operating leases are approximately as follows:

 

     
2016 $ 8,561
2017   5,207
     

 

The Company paid rent expense totaling $5,628 for the quarter ended June 30, 2016 (June 30, 2015 - $5,749). 

 

The Company has a management consulting agreement with T.M. Williams (Row), Inc., an Anguilla incorporated company, and Mr. Williams, a related party, for a consultancy payment based on the Company's performance with a minimum of $11,000 and a maximum of $25,000 per month.

 

The Company has a management consulting agreement with Jayska Consulting Ltd. and Mr. J. M. Williams, Chief Executive Officer of Shoal Games Ltd. for the provision of services of Mr. J. M. Williams as Chief Executive Officer of the Company. The Consulting agreement provides for a consultancy payment of GBP5,000 per month payable in arrears.

 

The Company has a management consulting agreement with LVA Media Inc. and Mr. J. M. Williams, for the provision of services of Mr. J. M. Williams as Chief Executive Officer of Shoal Games Ltd. The Consulting agreement provides for a consultancy payment based on the Company's performance with a minimum of $7,500 and a maximum of $25,000 per month.

XML 21 R14.htm IDEA: XBRL DOCUMENT v3.5.0.2
8. Income Taxes
6 Months Ended
Jun. 30, 2016
Income Tax Disclosure [Abstract]  
Income Taxes

Shoal Games Ltd. is domiciled in the tax-free jurisdiction of Anguilla, British West Indies. However certain of the Company's subsidiaries incur income taxation.

 

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at June 30, 2016, and December 31, 2015, are presented below:

 

   

June 30,

2016

  December 31,
2015
Deferred tax assets:        
   Net operating loss carry forwards $ 15,692 $ 17,898
         
   Valuation Allowance   (15,692)   (17,898)
  $ $

 

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those differences become deductible.

 

Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in assessing the realizability of deferred tax assets.

XML 22 R15.htm IDEA: XBRL DOCUMENT v3.5.0.2
9. Related Party Transactions
6 Months Ended
Jun. 30, 2016
Related Party Transactions [Abstract]  
Related Party Transactions

The Company has a liability of $nil (December 31, 2015 - $2,391) to a company owned by a current director and officer of the Company for payment of services rendered of $33,000 (June 30, 2015 - $33,000) by the current director and officer of the Company.

 

The Company has a liability of $1,554 (December 31, 2015 - $6,507) to a current director and officer of the Company for expenses incurred.

 

The Company has a liability of $nil (December 31, 2015 - $14,804) to a company owned by a current director and officer of the Company for payment of services rendered of $21,514 (June 30, 2015 - $22,972) by the current director and officer of the Company.

 

The Company has a liability of $nil (December 31, 2015 - $nil) to a company owned by a current director and officer of the Company for payment of services rendered of $22,500 (June 30, 2015 - $22,500) by the current director and officer of the Company.

 

The Company has a liability of $3,474 (December 31, 2015 - $831) to a company owned by a current director of the Company for payment of services rendered of $3,394 (June 30, 2015 - $3,077) by the current director of the Company.

 

The Company has a liability of $10,500 (December 31, 2015 - $6,500), to independent directors of the Company for payment of services rendered. During the quarter ended June 30, 2016, the Company accrued $2,000 (June 30, 2015 - $2,000) to the independent directors in director fees.

 

The Company has a liability of $3,642 (December 31, 2015 - $1,533), to an officer of the Company for payment of services rendered and expenses incurred of $13,498 (June 30, 2015 - $15,777) by the officer of the Company.

 

The related party transactions are in the normal course of operations and were measured at the exchange amount, which is the amount of consideration established and agreed to by the related party.

XML 23 R16.htm IDEA: XBRL DOCUMENT v3.5.0.2
10. Segmented information
6 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
Segmented information

Revenue

 

During the quarter ended June 30, 2016, the Company operated in one reportable business segment from the sale of in-app purchases on Trophy Bingo.

 

The Company had the following revenue by geographical region.

 

    Six Months ended
June 30,
2016
  Six Months ended
June 30,
2015
  Three Months
ended June 30,
2016
  Three Months
ended June 30,
2015
                 
Total revenue from continuing operations            
Western Europe $ 24,135 $ 1,570 $ 9,558 $ 437
Central, Eastern and Southern Europe   27   37   17   36
Nordics   642   158   234   8
North America   153,768   4,885   63,920   1,899
Other   9,808   8,295   4,092   3,873
Total revenue from continuing operations $ 188,380 $ 14,945 $ 77,821 $ 6,253

 

Equipment

 

The Company's equipment is located as follows:

 

Net Book Value   June 30, 2016   December 31, 2015
         
Anguilla $ 1,175 $ 1,410
Canada   2,082   2,436
United Kingdom   1,528   1,834
United States of America   529   634
  $ 5,314 $ 6,314
XML 24 R17.htm IDEA: XBRL DOCUMENT v3.5.0.2
11. Concentrations
6 Months Ended
Jun. 30, 2016
Risks and Uncertainties [Abstract]  
Concentrations

Major customers

 

For the quarters ended June 30, 2016 and 2015 the Company sold in-app purchases on its social bingo site, Trophy Bingo. There was no single player who had purchased more than 10% of the Trophy Bingo revenue.

XML 25 R18.htm IDEA: XBRL DOCUMENT v3.5.0.2
12. Concentrations of Credit Risk
6 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
Concentrations of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and accounts receivable.  The Company places its cash with high quality financial institutions and limits the amount of credit exposure with any one institution.

 

The Company currently maintains a substantial portion of its day-to-day operating cash balances at financial institutions. At June 30, 2016, the Company had total cash balances of $187,516 (December 31, 2015 - $570,086) at financial institutions, where $61,398 (December 31, 2015 - $303,983) is in excess of federally insured limits.

 

As of June 30, 2016, the Company had two customers totaling $24,030, who accounted for total accounts receivable greater than 10%. As of December 31, 2015, the Company had three customers, totaling $40,818 who accounted for greater than 10% of the total accounts receivable.

 

The Company controls credit risk through monitoring procedures and receiving prepayments of cash for services rendered.  The Company performs credit evaluations of its customers but generally does not require collateral to support accounts receivable.

XML 26 R19.htm IDEA: XBRL DOCUMENT v3.5.0.2
2. Summary of significant accounting policies (Policies)
6 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
Basis of presentation

These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP") applicable to annual financial information and with the rules and regulations of the United States Securities and Exchange Commission. The financial statements include the accounts of the Company's wholly-owned subsidiaries, Shoal Media (Canada) Inc. (registered in British Columbia, Canada), Coral Reef Marketing Inc. (registered in Anguilla), Bingo.com (Antigua) Inc., Bingo.com (Wyoming) Inc., Bingo Acquisition Corp, Shoal Media Inc. (registered in Anguilla), and the 99% owned subsidiary, Shoal Games (UK) Plc (registered in the United Kingdom). During the quarter ended March 31, 2016, English Bay Office Management Limited changed its name to Shoal Media (Canada) Inc. All inter-company balances and transactions have been eliminated in the consolidated financial statements.

Use of estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and recognized revenues and expenses for the reporting periods.

 

Significant areas requiring the use of estimates include the valuation of long-lived assets, the collectibility of accounts receivable and the valuation of deferred tax assets.  Actual results may differ significantly from these estimates.

Revenue recognition

Trophy Bingo revenues have been recognized from the sale of in-game purchases, net of platform fees, at the time of purchase by the player. The revenue from in-game advertising is recognized when advertising is served to the player.

 

Advertising revenues, not generated in Trophy Bingo, have been recognized when collection of the amounts are reasonably assured.

Foreign currency

The consolidated financial statements are presented in United States dollars, the functional currency of the Company and its subsidiaries. The Company accounts for foreign currency transactions and the translation of foreign currency financial statements under Statement ASC 830, Foreign Currency Matters. Transaction amounts denominated in foreign currencies are translated at exchange rates prevailing at the transaction dates. Carrying values of monetary assets and liabilities are adjusted at each balance sheet date to reflect the exchange rate at that date.

 

Non-monetary assets and liabilities are translated at the exchange rate on the original transaction date.

 

Gains and losses from restatement of foreign currency monetary and non-monetary assets and liabilities are included in net income. Revenues and expenses are translated at the rates of exchange prevailing on the dates such items are recognized in earnings.

Impairment of long-lived assets and long-lived assets to be disposed of

The Company accounts for long-lived assets in accordance with the provisions of ASC 360, Property, Plant and Equipment and ASC 350, Intangibles-Goodwill and Others. During the periods presented, the only long-lived assets reported on the Company's consolidated balance sheet are equipment, other assets, and security deposits.  These provisions require that long-lived assets and certain identifiable recorded intangibles be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.  Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future net cash flows expected to be generated by the asset.

 

If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets.  Assets to be disposed of are reported at the lower of the carrying amount and the fair value less costs to sell.

Software Development Costs

Software development costs incurred in the research and development of new software products and enhancements to existing software products for external use are expensed as incurred until technological feasibility has been established. After technological feasibility is established, any software development costs are capitalized and amortized at the greater of the straight-line basis over the estimated economic life of the related product or the ratio that current gross revenues for a product bear to the total of current and anticipated future gross revenues for the related product. Commencing January 1, 2014, the Company obtained technological feasibility and is amortizing the capitalized software development costs over a period of 3 years. The Company performs an annual review of the estimated economic life and the recoverability of such capitalized software costs, using a net realizable value test.

 

If a determination is made that capitalized amounts are not recoverable based on the estimated cash flows to be generated from the applicable software, any remaining capitalized amounts are written off. Although the Company believes that its approach to estimates and judgments as described herein is reasonable, actual results could differ and the Company may be exposed to increases or decreases in revenue that could be material.  Total software development costs for the development of Trophy Bingo were $4,326,553 as at June 30, 2016 (June 30, 2015 - $3,259,074).

 

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers and issued subsequent amendments to the initial guidance in August 2015, March 2016, April 2016, and May 2016 within ASU 2015-04, ASU 2016-08, ASU 2016-10, ASU 2016-11 and ASU 2016-12, respectively. The guidance in this update supersedes the revenue recognition requirements in ASC 605, Revenue Recognition, and most industry-specific guidance throughout the Codification. Additionally, this update supersedes some cost guidance included in ASC 605-35, Revenue Recognition - Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (for example, assets within the scope of ASC 360, Property, Plant, and Equipment, and intangible assets, within the scope of ASC 350, Intangibles - Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement in this update. The standard was to be effective for the Company as of January 1, 2017, but in August 2015, the FASB delayed the effective date of the new revenue accounting standard to January 1, 2019, and would permit early adoption as of the original effective date. Earlier adoption is not otherwise permitted for public entities. An entity can apply the revenue standard retrospectively to each prior reporting period presented (full retrospective method) or retrospectively with the cumulative effect of initially applying the standard recognized at the date of initial application in retained earnings (simplified transition method). The Company is currently assessing the impact of this update on its consolidated financial statements. The Company has not yet selected an adoption date, a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

 

In June 2014, the FASB issued ASU No. 2014-12, Compensation-Stock Compensation. This guidance requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the periods for which the requisite service has already been rendered. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and can be applied either prospectively or retrospectively to all awards outstanding as of the beginning of the earliest annual period presented as an adjustment to opening retained earnings. Early adoption is permitted. The adoption of ASU 2014-12 did not have a material impact on our financial condition, liquidity or results of operations.

 

In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern ("ASU 2014-15"). ASU 2014-15 provides guidance about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and sets rules for how this information should be disclosed in the financial statements. ASU 2014-15 is effective for annual periods ending after December 15, 2016 and interim periods thereafter. Early adoption is permitted. The Company is evaluating the effect of ASU 2014-15 on our consolidated financial condition and results of operations.

 

In November 2014, the FASB issued ASU No. 2014-16, Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity. This standard requires an entity to "determine the nature of the host contract by considering all stated and implied substantive terms and features of the hybrid financial instrument, weighing each term and feature on the basis of the relevant facts and circumstances which the hybrid financial instrument was issued or acquired and the potential outcome of the hybrid financial instrument.  ASU 2014-16 is effective for annual periods ending after December 15, 2015 and interim periods thereafter. Early adoption is permitted. The adoption of ASU 2014-16 did not have a material impact on our financial condition, liquidity or results of operations.

 

In January 2015, the FASB issued ASU 2015-01, which eliminates from GAAP the concept of extraordinary items. If an event or transaction meets the criteria for extraordinary classification, it is segregated from the results of ordinary operations and is shown as a separate item in the income statement, net of tax. ASU 2015-01 is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. The adoption of ASU 2015-01 did not have a material impact on our financial condition, liquidity or results of operations.

 

In February 2015, the FASB issued ASU 2015-02, which provides guidance for reporting entities that are required to evaluate whether they should consolidate certain legal entities. In accordance with ASU 2015-02, all legal entities are subject to reevaluation under the revised consolidation model. ASU 2015-02 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. The adoption of ASU 2015-02 did not have a material impact on our financial condition, liquidity or results of operations.

 

On April 1, 2015, the FASB voted to defer the effective date of ASU No. 2014-09, which outlines a single comprehensive model for entities to use in accounting for revenues arising from contracts with customers and notes that lease contracts with customers are a scope exception. Public business entities may elect to adopt the amendments as of the original effective date; however, if the proposed deferral is approved, adoption is required for annual reporting periods beginning after December 15, 2017. We are currently assessing the impact of the guidance on our consolidated financial statements.

 

On April 17, 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs , which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability.  Currently, debt issuance costs are recorded as an asset and amortization of these deferred financing costs is recorded in interest expense.  Under the new standard, debt issuance costs will continue to be amortized over the life of the debt instrument and amortization will continue to be recorded in interest expense.  The new standard is effective for the Company on January 1, 2016 and will be applied on a retrospective basis.  The adoption of ASU 2015-03 did not have a material impact on our financial condition, liquidity or results of operations.

 

The FASB has issued ASU 2015-05, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement.  The amendments in ASU 2015-05 provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The amendments do not change the accounting for a customer's accounting for service contracts. As a result of the amendments, all software licenses within the scope of Subtopic 350-40 will be accounted for consistent with other licenses of intangible assets.  ASU 2015-05 is effective for public entities for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. The adoption of ASU 2015-05 did not have a material impact on our financial condition, liquidity or results of operations.

 

In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments guidance to simplify the accounting for adjustments in a business combination. An acquirer should recognize adjustments to provisional amounts with a corresponding adjustment of goodwill, as well as the effect on earnings of changes in depreciation, amortization or other income effects, in the reporting period in which the adjustments are identified as if the accounting had been completed at the acquisition date. Disclosure is required, by line item, of the amount recorded in current period earnings that would have been recorded in previous reporting periods. This guidance is effective for fiscal years and interim periods beginning after December 15, 2015, and requires prospective application. Early adoption is permitted. The adoption of ASU 2015-16 did not have a material impact on our financial condition, liquidity or results of operations.

 

In November 2015, the FASB issued ASU 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes , which requires deferred income tax liabilities and assets to be classified as noncurrent on the balance sheet rather than being separated into current and noncurrent. The guidance is effective for public entities for annual periods beginning after December 15, 2016, and interim periods within those annual periods with early adoption being permitted. The Company is still assessing the potential impact of ASU 2015-17 on its consolidated financial statements.

 

In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities ("ASU 2016-01"), which requires that equity investments, except for those accounted for under the equity method or those that result in consolidation of the investee, be measured at fair value, with subsequent changes in fair value recognized in net income. However, an entity may choose to measure equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. ASU 2016-01 also impacts the presentation and disclosure requirements for financial instruments. ASU 2016-01 is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted only for certain provisions. The Company does not expect that the adoption of ASU 2016-01 will have a material effect on its consolidated financial statements.

 

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to recognize most leases on the balance sheet. This ASU requires lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Lessees are permitted to make an accounting policy election to not recognize the asset and liability for leases with a term of twelve months or less. The ASU does not significantly change the lessees' recognition, measurement and presentation of expenses and cash flows from the previous accounting standard. Lessors' accounting under the ASC is largely unchanged from the previous accounting standard. In addition, the ASU expands the disclosure requirements of lease arrangements. Lessees and lessors will use a modified retrospective transition approach, which includes a number of practical expedients. The provisions of this guidance are effective for annual periods beginning after December 15, 2018, and interim periods within those years, with early adoption permitted. Management is evaluating the requirements of this guidance and has not yet determined the impact of the adoption on the Company's financial position or results of operations.

 

In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting ("ASU 2016-09"), which addresses how companies account for certain aspects of share-based payments to employees. Entities will be required to recognize the income tax effects of awards in the statement of income when the awards vest or are settled, and to present excess tax benefits as an operating activity on the statement of cash flows rather than as a financing activity. The ASU also addresses such areas as an accounting policy election for forfeitures and the amount an employer can withhold to cover income taxes and still qualify for equity classification. The amendments in this ASU will be effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard on its consolidated financial statements.

 

There have been no other recent accounting standards, or changes in accounting standards, during the quarter ended June 30, 2016, as compared to the recent accounting standards described in the Annual Report, that are of material significance, or have potential material significance, to us.

Financial instruments

(i)  Fair values:

 

The fair value of accounts receivable, accounts payable, accrued liabilities and accounts payable and accrued liabilities - related party approximate their financial statement carrying amounts due to the short-term maturities of these instruments.  Cash is carried at fair value using a level 1 fair value measurement.

 

In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little, if any, market activity for the asset.  The Company's cash was measured using Level 1 inputs.

 

(ii)  Foreign currency risk:

 

The Company operates internationally, which gives rise to the risk that cash flows may be adversely impacted by exchange rate fluctuations.  The Company has not entered into any forward exchange contracts or other derivative instrument to hedge against foreign exchange risk.

XML 27 R20.htm IDEA: XBRL DOCUMENT v3.5.0.2
4. Other assets (Tables)
6 Months Ended
Jun. 30, 2016
Other Assets Tables  
Schedule of other assets
June 30, 2016   Capitalized Expenses   Accumulated amortization  

Net book

Value

             
Trophy Bingo capitalized development expenses $ 1,446,038 $ 1,205,032 $ 241,006

 

December 31, 2015   Capitalized Expenses   Accumulated amortization  

Net book

Value

             
Trophy Bingo capitalized development expenses $ 1,446,038 $ 964,025 $ 482,013
XML 28 R21.htm IDEA: XBRL DOCUMENT v3.5.0.2
6. Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2016
Equity [Abstract]  
Escrow shares Table
    Number of shares
     
Balance December 31, 2015   22,606,069
     
Released in the quarter ending June 30, 2016   (11,303,035)
     
Balance June 30, 2016   11,303,034
     
Shares eligible for release in 2016   (11,303,034)
     
Balance December 31, 2016   -
XML 29 R22.htm IDEA: XBRL DOCUMENT v3.5.0.2
7. Commitments (Tables)
6 Months Ended
Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]  
Minimum lease payments under these operating leases
     
2016 $ 8,561
2017   5,207
     
XML 30 R23.htm IDEA: XBRL DOCUMENT v3.5.0.2
8. Income Taxes (Tables)
6 Months Ended
Jun. 30, 2016
Income Tax Disclosure [Abstract]  
Deferred tax assets and deferred tax liabilities
   

June 30,

2016

  December 31,
2015
Deferred tax assets:        
   Net operating loss carry forwards $ 15,692 $ 17,898
         
   Valuation Allowance   (15,692)   (17,898)
  $ $
XML 31 R24.htm IDEA: XBRL DOCUMENT v3.5.0.2
10. Segmented information (Tables)
6 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
Revenue by geographical region
    Six Months ended
June 30,
2016
  Six Months ended
June 30,
2015
  Three Months
ended June 30,
2016
  Three Months
ended June 30,
2015
                 
Total revenue from continuing operations            
Western Europe $ 24,135 $ 1,570 $ 9,558 $ 437
Central, Eastern and Southern Europe   27   37   17   36
Nordics   642   158   234   8
North America   153,768   4,885   63,920   1,899
Other   9,808   8,295   4,092   3,873
Total revenue from continuing operations $ 188,380 $ 14,945 $ 77,821 $ 6,253
Equipment
Net Book Value   June 30, 2016   December 31, 2015
         
Anguilla $ 1,175 $ 1,410
Canada   2,082   2,436
United Kingdom   1,528   1,834
United States of America   529   634
  $ 5,314 $ 6,314
XML 32 R25.htm IDEA: XBRL DOCUMENT v3.5.0.2
1. Basis of Presentation (Details Narrative) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Basis Of Presentation Details Narrative    
Accumulated deficit $ 19,661,972 $ 18,407,136
XML 33 R26.htm IDEA: XBRL DOCUMENT v3.5.0.2
2. Summary of significant accounting policies (Details Narrative) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Dec. 31, 2015
Development Costs $ 251,534 $ 318,617 $ 468,917 $ 631,654 $ 1,230,216
Software Development [Member]          
Development Costs     $ 4,326,553 $ 3,259,074  
XML 34 R27.htm IDEA: XBRL DOCUMENT v3.5.0.2
3. Prepaid Expenses (Details Narrative)
6 Months Ended
Jun. 30, 2016
USD ($)
Prepaid Expenses Details Narrative  
Future development expenses $ 863,660
Prepaid Expenses 47,222
Future development balance 816,438
Legal fees 27,224
Other Prepaid Expenses $ 21,255
XML 35 R28.htm IDEA: XBRL DOCUMENT v3.5.0.2
4. Other assets (Details) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Other Assets Details    
Capitalized Expenses $ 1,446,038 $ 1,446,038
Accumulated amortization 1,205,032 964,025
Net book Value $ 241,006 $ 482,013
XML 36 R29.htm IDEA: XBRL DOCUMENT v3.5.0.2
4. Other assets (Details Narrative) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Dec. 31, 2015
Other Assets Details Narrative          
Development Costs $ 251,534 $ 318,617 $ 468,917 $ 631,654 $ 1,230,216
XML 37 R30.htm IDEA: XBRL DOCUMENT v3.5.0.2
5. Discontinued Operations (Details Narrative) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Discontinued operations: (Note 5)        
Gain from the sale of the domain name $ 0 $ 0 $ 0 $ 16,305
XML 38 R31.htm IDEA: XBRL DOCUMENT v3.5.0.2
6. Stockholders' Equity (Details) - shares
6 Months Ended 12 Months Ended
Dec. 31, 2016
Jun. 30, 2016
Dec. 31, 2015
Beginning Balance 11,303,034 22,606,069  
Shares Released in the quarter   (11,303,035) (22,606,070)
Ending Balance 0 11,303,034 22,606,069
Subsequent Event [Member]      
Shares eligible for release 11,303,034    
XML 39 R32.htm IDEA: XBRL DOCUMENT v3.5.0.2
6. Stockholders' Equity (Details Narrative)
6 Months Ended 12 Months Ended
Jun. 30, 2016
$ / shares
Jun. 30, 2016
CAD
shares
Dec. 31, 2015
shares
Escrow Shares Released   (11,303,035) (22,606,070)
Private Placement [Member]      
Proceeds from sale of common stock | CAD   CAD 2,002,760  
Sale Of Common Stock   3,337,934  
Sale Of Common Stock Per Shares | $ / shares $ 0.60    
XML 40 R33.htm IDEA: XBRL DOCUMENT v3.5.0.2
7. Commitments (Details)
Jun. 30, 2016
USD ($)
Commitments Details  
2016 $ 8,561
2017 $ 5,207
XML 41 R34.htm IDEA: XBRL DOCUMENT v3.5.0.2
7. Commitments (Details Narrative) - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Commitments Details Narrative    
Rent expense $ 5,628 $ 5,749
XML 42 R35.htm IDEA: XBRL DOCUMENT v3.5.0.2
8. Income Taxes (Details) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Deferred tax assets:    
Net operating loss carry forwards $ 15,692 $ 17,898
Valuation Allowance (15,692) (17,898)
Net Deferred Tax Assets $ 0 $ 0
XML 43 R36.htm IDEA: XBRL DOCUMENT v3.5.0.2
10. Segmented information (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]        
Total revenue from continuing operations $ 77,821 $ 6,253 $ 188,380 $ 14,945
Western Europe [Member]        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Total revenue from continuing operations 9,558 437 24,135 1,570
Central Eastern and Southern Europe [Member]        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Total revenue from continuing operations 17 36 27 37
Nordics [Member]        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Total revenue from continuing operations 234 8 642 158
North America [Member]        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Total revenue from continuing operations 63,920 1,899 153,768 4,885
Other [Member]        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Total revenue from continuing operations $ 4,092 $ 3,873 $ 9,808 $ 8,295
XML 44 R37.htm IDEA: XBRL DOCUMENT v3.5.0.2
10. Segmented information (Details 1) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]    
Net Book Value $ 5,314 $ 6,314
Anguilla [Member]    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Net Book Value 1,175 1,410
Canada [Member]    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Net Book Value 2,082 2,436
United Kingdom [Member]    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Net Book Value 1,528 1,834
United States of America [Member]    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Net Book Value $ 529 $ 634
XML 45 R38.htm IDEA: XBRL DOCUMENT v3.5.0.2
12. Concentrations of Credit Risk (Details Narrative) - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Dec. 31, 2015
Dec. 31, 2014
Concentrations Of Credit Risk Details Narrative        
Cash $ 187,516 $ 1,834,424 $ 570,086 $ 2,876,386
Federally insured limits $ 61,398   303,983  
Percentage representation by a customer 10.00% 10.00%    
Amounts representation by a customer $ 24,030   $ 40,818  
EXCEL 46 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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how.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 48 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 50 FilingSummary.xml IDEA: XBRL DOCUMENT 3.5.0.2 html 52 131 1 false 15 0 false 5 false false R1.htm 00000001 - Document - Document and Entity Information Sheet http://online.bingo.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 00000002 - Statement - Consolidated Balance Sheets (Unaudited) Sheet http://online.bingo.com/role/BalanceSheets Consolidated Balance Sheets (Unaudited) Statements 2 false false R3.htm 00000003 - Statement - Consolidated Balance Sheets (Unaudited) (Parenthetical) Sheet http://online.bingo.com/role/BalanceSheetsParenthetical Consolidated Balance Sheets (Unaudited) (Parenthetical) Statements 3 false false R4.htm 00000004 - Statement - Consolidated Statements of Operations and Comprehensive Loss (Unaudited) Sheet http://online.bingo.com/role/StatementsOfOperationsAndComprehensiveLoss Consolidated Statements of Operations and Comprehensive Loss (Unaudited) Statements 4 false false R5.htm 00000005 - Statement - Consolidated Statements of Stockholders' Equity (Unaudited) Sheet http://online.bingo.com/role/StatementsOfStockholdersEquity Consolidated Statements of Stockholders' Equity (Unaudited) Statements 5 false false R6.htm 00000006 - Statement - Consolidated Statements of Cash Flows (Unaudited) Sheet http://online.bingo.com/role/StatementsOfCashFlows Consolidated Statements of Cash Flows (Unaudited) Statements 6 false false R7.htm 00000007 - Disclosure - 1. Basis of Presentation Sheet http://online.bingo.com/role/BasisOfPresentation 1. Basis of Presentation Notes 7 false false R8.htm 00000008 - Disclosure - 2. Summary of significant accounting policies Sheet http://online.bingo.com/role/SummaryOfSignificantAccountingPolicies 2. Summary of significant accounting policies Notes 8 false false R9.htm 00000009 - Disclosure - 3. Prepaid Expenses Sheet http://online.bingo.com/role/PrepaidExpenses 3. Prepaid Expenses Notes 9 false false R10.htm 00000010 - Disclosure - 4. Other assets Sheet http://online.bingo.com/role/OtherAssets 4. Other assets Notes 10 false false R11.htm 00000011 - Disclosure - 5. Discontinued Operations Sheet http://online.bingo.com/role/DiscontinuedOperations 5. Discontinued Operations Notes 11 false false R12.htm 00000012 - Disclosure - 6. Stockholders' Equity Sheet http://online.bingo.com/role/StockholdersEquity 6. Stockholders' Equity Notes 12 false false R13.htm 00000013 - Disclosure - 7. Commitments Sheet http://online.bingo.com/role/Commitments 7. Commitments Notes 13 false false R14.htm 00000014 - Disclosure - 8. Income Taxes Sheet http://online.bingo.com/role/IncomeTaxes 8. Income Taxes Notes 14 false false R15.htm 00000015 - Disclosure - 9. Related Party Transactions Sheet http://online.bingo.com/role/RelatedPartyTransactions 9. Related Party Transactions Notes 15 false false R16.htm 00000016 - Disclosure - 10. Segmented information Sheet http://online.bingo.com/role/SegmentedInformation 10. Segmented information Notes 16 false false R17.htm 00000017 - Disclosure - 11. Concentrations Sheet http://online.bingo.com/role/Concentrations 11. Concentrations Notes 17 false false R18.htm 00000018 - Disclosure - 12. Concentrations of Credit Risk Sheet http://online.bingo.com/role/ConcentrationsOfCreditRisk 12. Concentrations of Credit Risk Notes 18 false false R19.htm 00000019 - Disclosure - 2. Summary of significant accounting policies (Policies) Sheet http://online.bingo.com/role/SummaryOfSignificantAccountingPoliciesPolicies 2. Summary of significant accounting policies (Policies) Policies 19 false false R20.htm 00000020 - Disclosure - 4. Other assets (Tables) Sheet http://online.bingo.com/role/OtherAssetsTables 4. Other assets (Tables) Tables http://online.bingo.com/role/OtherAssets 20 false false R21.htm 00000021 - Disclosure - 6. Stockholders' Equity (Tables) Sheet http://online.bingo.com/role/StockholdersEquityTables 6. Stockholders' Equity (Tables) Tables http://online.bingo.com/role/StockholdersEquity 21 false false R22.htm 00000022 - Disclosure - 7. Commitments (Tables) Sheet http://online.bingo.com/role/CommitmentsTables 7. Commitments (Tables) Tables http://online.bingo.com/role/Commitments 22 false false R23.htm 00000023 - Disclosure - 8. Income Taxes (Tables) Sheet http://online.bingo.com/role/IncomeTaxesTables 8. Income Taxes (Tables) Tables http://online.bingo.com/role/IncomeTaxes 23 false false R24.htm 00000024 - Disclosure - 10. Segmented information (Tables) Sheet http://online.bingo.com/role/SegmentedInformationTables 10. Segmented information (Tables) Tables http://online.bingo.com/role/SegmentedInformation 24 false false R25.htm 00000025 - Disclosure - 1. Basis of Presentation (Details Narrative) Sheet http://online.bingo.com/role/BasisOfPresentationDetailsNarrative 1. Basis of Presentation (Details Narrative) Details http://online.bingo.com/role/BasisOfPresentation 25 false false R26.htm 00000026 - Disclosure - 2. Summary of significant accounting policies (Details Narrative) Sheet http://online.bingo.com/role/SummaryOfSignificantAccountingPoliciesDetailsNarrative 2. Summary of significant accounting policies (Details Narrative) Details http://online.bingo.com/role/SummaryOfSignificantAccountingPoliciesPolicies 26 false false R27.htm 00000027 - Disclosure - 3. Prepaid Expenses (Details Narrative) Sheet http://online.bingo.com/role/PrepaidExpensesDetailsNarrative 3. Prepaid Expenses (Details Narrative) Details http://online.bingo.com/role/PrepaidExpenses 27 false false R28.htm 00000028 - Disclosure - 4. Other assets (Details) Sheet http://online.bingo.com/role/OtherAssetsDetails 4. Other assets (Details) Details http://online.bingo.com/role/OtherAssetsTables 28 false false R29.htm 00000029 - Disclosure - 4. Other assets (Details Narrative) Sheet http://online.bingo.com/role/OtherAssetsDetailsNarrative 4. Other assets (Details Narrative) Details http://online.bingo.com/role/OtherAssetsTables 29 false false R30.htm 00000030 - Disclosure - 5. Discontinued Operations (Details Narrative) Sheet http://online.bingo.com/role/DiscontinuedOperationsDetailsNarrative 5. Discontinued Operations (Details Narrative) Details http://online.bingo.com/role/DiscontinuedOperations 30 false false R31.htm 00000031 - Disclosure - 6. Stockholders' Equity (Details) Sheet http://online.bingo.com/role/StockholdersEquityDetails 6. Stockholders' Equity (Details) Details http://online.bingo.com/role/StockholdersEquityTables 31 false false R32.htm 00000032 - Disclosure - 6. Stockholders' Equity (Details Narrative) Sheet http://online.bingo.com/role/StockholdersEquityDetailsNarrative 6. Stockholders' Equity (Details Narrative) Details http://online.bingo.com/role/StockholdersEquityTables 32 false false R33.htm 00000033 - Disclosure - 7. Commitments (Details) Sheet http://online.bingo.com/role/CommitmentsDetails 7. Commitments (Details) Details http://online.bingo.com/role/CommitmentsTables 33 false false R34.htm 00000034 - Disclosure - 7. Commitments (Details Narrative) Sheet http://online.bingo.com/role/CommitmentsDetailsNarrative 7. Commitments (Details Narrative) Details http://online.bingo.com/role/CommitmentsTables 34 false false R35.htm 00000035 - Disclosure - 8. Income Taxes (Details) Sheet http://online.bingo.com/role/IncomeTaxesDetails 8. Income Taxes (Details) Details http://online.bingo.com/role/IncomeTaxesTables 35 false false R36.htm 00000036 - Disclosure - 10. Segmented information (Details) Sheet http://online.bingo.com/role/SegmentedInformationDetails 10. Segmented information (Details) Details http://online.bingo.com/role/SegmentedInformationTables 36 false false R37.htm 00000037 - Disclosure - 10. Segmented information (Details 1) Sheet http://online.bingo.com/role/SegmentedInformationDetails1 10. Segmented information (Details 1) Details http://online.bingo.com/role/SegmentedInformationTables 37 false false R38.htm 00000038 - Disclosure - 12. Concentrations of Credit Risk (Details Narrative) Sheet http://online.bingo.com/role/ConcentrationsOfCreditRiskDetailsNarrative 12. Concentrations of Credit Risk (Details Narrative) Details http://online.bingo.com/role/ConcentrationsOfCreditRisk 38 false false All Reports Book All Reports sgldf-20160630.xml sgldf-20160630.xsd sgldf-20160630_cal.xml sgldf-20160630_def.xml sgldf-20160630_lab.xml sgldf-20160630_pre.xml true true ZIP 52 0001318482-16-000014-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001318482-16-000014-xbrl.zip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end