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FORM 10-KSB

SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549



|[X]   | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended - December 31, 2005
|----- | ----------------------------------------------------------------------------------------------------------------------------------
|      |                                                                                                                                   
|OR    |                                                                                                                                   
|      |                                                                                                                                   
|[   ] | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from           

Commission file number 000-31289

FIRSTBINGO.COM



|NEVADA                                                         | 88-0256854                   
|-------------------------------------------------------------- | -----------------------------
|(State or other jurisdiction of incorporation or organization) | (Employer Identification No.)

120 Adelaide Street West
Suite 1214
Toronto, Ontario
Canada   M5H 1T1(Address of principal executive offices, including zip code.)

(416) 281-3335(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:     None

Securities registered pursuant to Section 12(g) of the Act:     Common Stock

Check whether the Issuer (1) filed all reports required to be filed by Section 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 [   ]

Check if no disclosure of delinquent filers pursuant to Item 405 of Regulation S-B is contained herein, and no disclosure will be contained, to the best of Registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-KSB or any amendment to this Form 10-KSB.

The registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES [   ]  NO [X]

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The aggregate market value of the voting stock held by non-affiliates of the registrant was $547,345 as of December 31, 2005.

Number of shares outstanding of the registrant's class of common stock, as of December 31, 2005 was 33,528,524.

The Company recorded $1,383 revenues for its most recent fiscal year ended December 31, 2005.

TABLE OF CONTENTS



|                                                                                             | Page
|-------------------------------------------------------------------------------------------- | ----
|                                                                                             |     
|PART I                                                                                       |     
|Item 1. Description of Business                                                              | 3   
|Item 2.  Description of the Properties                                                       | 11  
|Item 3. Legal Proceeding                                                                     | 11  
|Item 4. Submission of Matters to a Vote of Security Holders                                  | 12  
|                                                                                             |     
|PART II                                                                                      |     
|Item 5. Market For Registrant's Common Equity and Related Stockholder Matter                 | 12  
|Item 6. Management's Discussion and Analysis of Financial Condition and Results of Operation | 14  
|                                                                                             |     
|PART III                                                                                     |     
|Item 7. Financial Statements and Supplementary Data                                          | 18  
|Item 8. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure | 37  
|Item 8A. Controls and Procedures                                                             | 37  
|Item 9. Directors, Executive Officers, Promoters and Control Persons                         | 37  
|Item 10. Executive Compensation                                                              | 40  
|Item 11. Security Ownership of Certain Beneficial Owners and Management                      | 42  
|Item 12. Interest of Management and Others in Certain Transactions                           | 43  
|                                                                                             |     
|PART IV                                                                                      |     
|Item 13. Exhibits, Financial Statement Schedules and Reports on Form 8-K                     | 44  
|Item 14. Principal Accountant Fees and Services                                              | 45  













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PART I

ITEM 1.     BUSINESS

History

We were incorporated under the laws of the State of Nevada on March 30, 1990, as Vista Medical Terrace, Inc. to engage in the business of medical software.

On March 8, 1997, we forward split our shares of common stock on a 92 for 1 basis.

On May 26, 1999, we changed our name from Vista Medical Terrace to FirstBingo.com and changed our business to Internet Trivia and television Trivia Bingo.

Since then we have developed its website; developed its Trivia Bingo game; developed a CD Rom version of its Trivia Bingo game; and, tested our Trivia Bingo game.

On June 28, 1999, we forward split its shares of common stock on a 2 for 1 basis.

On December 31, 2001, we reverse split our shares on the basis of 1 for 25.

On November 14, 2003, we issued three additional shares of common stock for each one share outstanding as a stock dividend.

General

We have developed a game called "Trivia Bingo" and website to play Trivia Bingo. Trivia Bingo is played over the Internet and is available to anyone with internet access. We recently tested and are continuing to test Trivia Bingo on our website. We have generated minimal revenues and will not generate any further revenues until the members pay to compete and we begin to sell advertising space on the Trivia Bingo internet cards to advertisers. We have generated minimal revenues to date.

Trivia Bingo

Trivia Bingo is divided into two divisions. One division is an Internet Trivia Bingo game played on the Internet. The other will be a television game show. The Internet game is operational, generating minimal revenues. The television game show is no longer a concept.

The Internet Trivia Bingo allows members to compete for a variety of prizes and cash and the chance to qualify for the television version of the game. Past prizes have consisted of clocks, mouse pads, CD cases, watches, stress balls and caps. We gave away one automobile as part of our test of the website. Mr. Richard Wachter personally financed the cost of the test. In the future, we will provide the prizes at our own expense. The television show was no longer conceptual during 2005, with Internet Trivia Bingo members paying to compete to qualify for the television game show.





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We recently completed the development of a Beta version of our Internet Trivia Bingo game and Trivia Bingo is now operational on the Internet. We will continue refine and revise our software application. Thereafter, we will begin recruiting advertisers to the website. Our main website is at www.FirstBingo.com. We also maintain a second website at www.triviabingo.com which is used as a feeder page to the main website.

Registration for Internet Bingo

Members already registered with us will click on the "Player" icon and when prompted enter their user name and password. New members will be prompted to click on the "New Player" icon to register as a new player. Members must register in order to be eligible for the cash and prizes and to qualify for an opportunity to participate on television Trivia Bingo.

The Website

Our website is accessible to customers with a minimum hardware configuration consisting of a 486 personal computer with Windows 95 or greater, with 16 MB RAM, 20 MB free hard disk space, a 14,400 modem and a direct PPP Internet connection. All games are provided in a Windows-based, menu driven format with "point and click" interactively.

We monitor the play of Trivia Bingo over the Internet. Our website allows customers to review all terms, rules and conditions applicable to Trivia Bingo and other uses at the site.

Game Instructions

Creating the Bingo Card

Once a new or existing member has logged on to the web-site, a Bingo card is created. The card contains five columns under the letters B I N G O. Each column contains five squares which contain random numbers.

To assist a member in achieving a BINGO, all of the squares in the third row and all of the squares in the column under the letter "N" are covered squares. However, unlike traditional Bingo, the squares are not covered with pennies or blotters, but rather with an advertiser's logo. Advertising logos form what is known as the "Magic Cross". The "Magic Cross" effectively divides the BINGO card into four separate quadrants.

We randomly generate additional squares that contain an advertiser's logo in each of the four quadrants. The random generation of additional covered squares (i.e. squares that contain an advertiser's logo) result in an instant cash or prize giveaway to the member. After the random generation of additional squares occurs, all of the squares that form a BINGO line (i.e. a vertical, horizontal or diagonal line) could be occupied with an advertiser's logo in which case the member is an instant winner. This is known as an Instant Win Card.

If the member does not have an Instant Win Card, the player moves to the Trivia Challenge phase of the game.



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Trivia Challenge

Correctly answering a trivia question allows a member to convert an open square (a square that does not contain an advertiser's logo) to a covered square (a square containing an advertiser's logo). By covering certain squares the player can achieve a Bingo. A Bingo is achieved when the covered squares (a square containing an advertiser's logo) form a vertical, horizontal or diagonal line. Each time a Bingo is achieved the member is credited with 1,000 FirstBingo points.

To convert an open square to a covered square, the member selects the open square of his or her choice by clicking on it with the mouse.

The trivia question associated with the selected open square is revealed. The member is now given 15 seconds to select the correct answer from four multiple choice answers. The answer is chosen by clicking on the chosen response with the mouse. If the answer is right the number on the open square is replaced by an advertiser's logo (indicating a covered square). If the answer is incorrect, the open square will remain open and the member will receive one strike. If the member gets three strikes before achieving a full card, the game ends. A member may receive multiple Bingos on one card. Each Bingo will result in the member receiving 1,000 FirstBingo points. A member may also receive advertiser's points for converting an open square to a covered square. It is anticipated that advertiser's points may be exchanged for various prize giveaways.

If the member answers all of the trivia questions correctly before getting three strikes, he or she attains a full card. If a member obtains a full card, he will receive bonus points in addition to the 1,000 FirstBingo points awarded for each Bingo.

Cash and Prize Giveaways

The points a member receives may qualify the member for the opportunity to win cash, prizes or a chance to qualify for the television version of the game. A member can also win instant cash or prizes if an Instant Win Card is randomly generated at the start of the game.

Compatibility

Our Internet Trivia Bingo utilizes a Macro Media-based front-end, which means, unlike numerous other websites, no download is required. Using Macro Media(TM) technology, download time is less than 10 seconds and there is no special installation procedure.

By utilizing Macro Media(TM) technology, Internet Trivia Bingo will be compatible on MacIntosh, Windows 95/98/2000, Windows NT, Linux and future WebTV computers.

TV Trivia Bingo

Internet Trivia Bingo members qualify by achieving high points ratings to participate as contestants on TV Trivia Bingo. TV Trivia Bingo is played in front of a live studio audience. The show will be taped and sold to public or pay television networks. As of the date hereof, we have developed the television program, taped shows and entered into negotiations with television stations or sponsors for the further production of TV Trivia Bingo. Further, there is no assurance that TV Trivia Bingo will ever be further developed, further produced or sold to any television networks. There is no assurance that any television network will broadcast the show.

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Revenues

First and foremost we are a pay to play and advertiser/sponsor supported website. We plan to generate future revenues from members paying to compete and the sale of advertising space (i.e. advertiser's logos), which appear on the Internet Trivia Bingo squares and from the sponsorship of TV Trivia Bingo. As of the date hereof, we have not sold any advertising space on its Internet web site nor have we secured any sponsorship for our television program. There is no assurance that we will ever sell any advertising on our web site or secure any sponsorship for our television program.

In addition, we plan to generate revenues from the sale of our Trivia Bingo CD Game and Trivia Bingo Video Terminals. The Trivia Bingo Video Terminals may also generate significant royalty income.

Trivia Bingo CD Game

We are developing a CD game version of Internet Trivia Bingo. The CD game version will be similar to the Internet Trivia Bingo version. No cash or prize giveaways will be awarded to members of the CD game. The CD game is in a conceptual stage. We do not know if and when the CD will be created or when a prototype will be started. No CD's have been developed. We do not know what the cost of production will be or when the CD game will be available sale. There is no assurance that any CDs will ever be created or sold.

Trivia Bingo Video Terminals

We are in the final phase of development of two Trivia Bingo Video Terminal test models (a Trivia Bingo Video Terminal and a Slot Machine Video Terminal). The Trivia Bingo Video Terminal will be designed to permit members to play the Trivia Bingo game directly on the Video Terminal. The game will be identical to the Internet Trivia Bingo game.

The second test model, the Slot Machine Video Terminal will be a stand-alone slot machine featuring Bingo. The Trivia Bingo card will be created in essentially the same fashion as the Bingo card in Internet Trivia Bingo, other than a covered square will be shaded red (as opposed to containing an advertiser's logo) and an open square will be shaded in blue. The "Magic Cross" effectively divides the Bingo card into four separate quadrants. Each quadrant will contain four Bingo squares containing a specific number. The four squares in each of the four quadrants will be shaded in either red or blue depending upon whether the BINGO number that appears in the square is an appropriate number for the proper BINGO letter (i.e. a number from 1-15 under the letter B, a number from 16-30 under the letter I, a number from 31-45 under the letter N a number from 46-60 under the letter G or a number from 61-75 under the letter O). The Slot Machine Video Terminal computer will randomly spin the squares in each of the four quadrants. When the spinning stops, if the BINGO number in the square is under the appropriate letter the square will be shaded red indicating a covered square. If the number in the square is not under the appropriate letter the square will be shaded blue indicating an open square. Depending upon the positioning of the numbers when the spinning stops, the member may have no Bingos or possibly one or more Bingos. A Bingo is achieved every time a vertical, horizontal or diagonal line contains all shaded red squares (i.e. the proper Bingo number is under the proper letter).



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The number of Bingos that are created at the time the spinning stops will dictate the payout on the Slot Machine Video Terminal. The Video Terminals are in a conceptual stage. We do not know if and when Video Terminals will be created or when a prototype will be started. No Video Terminals have been developed as of the date of this report. We do not know what the cost of production will be or when the Video Terminals will be available for sale. There is no assurance that any Video Terminals will ever be created or sold.

Manufacturing of the CDs and Video Terminals

We are in preliminary discussions with a number of potential manufacturers of the CD Trivia Bingo game and the Trivia Bingo Video Terminals. At this time it is not possible to comment with any degree of certainty on the cost of production of either the CD Trivia Bingo game or the Trivia Bingo Video Terminals. Additionally, it is not possible to comment with any degree of certainty on the projected selling prices of either the CD Trivia Bingo game or the Trivia Bingo Video Terminals. Further, there is no assurance that the CD Trivia Bingo game or the Trivia Bingo Video Terminals will ever be developed, produced or sold.

Marketing

We anticipate that a significant portion of our future expenses will be related to advertising and marketing. We anticipate using banner advertising featuring hot links on strategic Internet portal and search engine sights such as Hotmail, Yahoo and Alta Vista. Each of these sites boasts millions of visits each day and will prove an invaluable source to generate awareness of our Internet Trivia Bingo game. Future advertising in traditional media, such as newspapers, magazines, television, radio, billboards, etc. may also be an important facet of the advertising and marketing program.

As of the date hereof, we have not initiated any further research to determine the parameters of future advertising or the mediums which will be chosen.

Competition

We will compete with other companies marketing trivia related entertainment products and services and companies offering games of skill involving the answer of trivia questions. Millionaire and Jeopardy will be our initial competitors.

We compete with other companies that have websites that advertise on a game or on a site while a game is being played.

We expect to encounter significant competition from existing advertiser/sponsor-supported web-sites. Many of our existing and potential competitors have or may have, as the case may be, greater capital and other resources than we do and may choose to adopt a marketing plan similar to that proposed by us. There can be no assurance that we will be able to generate meaningful revenues or earnings from our Trivia Bingo operations or otherwise successfully compete in the future.





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Our advertisers will pay us fees for the number of hits to our website. The more websites that compete with us, the fewer the hits to our website. The more distractions away from our website, the fewer the hits to our website. Fewer hits result in lower revenues. We cannot ensure that consumers will hit our website rather than other websites offering similar gaming products on the Internet. Interest in a website is a personal thing. If a consumer likes our website and the game and prizes it offers, they will play it. If the consumer does not like our game, they will find another website that will satisfy their desire for amusement. We hope that the configuration of our website and the prizes it offers will attract members to it and away from other websites.

Software

In order to initiate the development of Trivia Bingo, we have retained the services of Mente Incorporated. Mente Incorporated is an Ontario based software development company. The software to run Trivia Bingo on the Internet will be our exclusive property and Mente Incorporated will have no proprietary interest in the software. Mente Incorporated is being retained on a non-exclusive basis only to provide software development support.

Testing

Our web-site is fully developed and commercialized. Standard testing of the web-site will take place from time to time but is not anticipated to be onerous given the relatively simple nature of the game.

Government Regulation

Bingo activities are regulated in the United States and most developed countries and are based upon policies that are concerned with, among other things, (i) the prevention of unsavory or unsuitable persons from having a direct or indirect involvement with bingo; (ii) the establishment and maintenance of responsible accounting practices and procedures; (iii) the maintenance of effective controls over the financial practices of licensees, including the establishment of minimum procedures for internal fiscal affairs and the safeguarding of assets and revenues, providing reliable record keeping and requiring the filing of periodic reports with the governing jurisdictions; (iv) the prevention of cheating and fraudulent practices; and (v) the provision of a source of government revenue through taxation and licensing fees.

At the present time, we believe that the Trivia Bingo game would not be prohibited in North America or most other foreign jurisdictions since the game is actually a game of skill as opposed to a game of chance. However, bingo over the Internet is a new industry and some or all of the countries in which Trivia Bingo will be played may take action to more severely regulate or even prohibit Internet bingo operations in their jurisdictions.

We believe that as of this date, many federal and state prosecutorial agencies in the United States have taken the position that the provision of Internet bingo services to residents of the United States is subject to existing federal and state laws which generally prohibit the provision of bingo opportunities, except where licensed or subject to exemption. This may include games which require the player to risk nothing but his time.



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We understand that many providers of Internet bingo services to citizens and residents of the United States have taken the position that existing federal and state laws pertaining to the provision of bingo opportunities do not apply to Internet bingo services. In 1997, legislation was introduced to the United States Senate and House of Representatives (the Kyle bill) which, if enacted, would effectively amend the Federal Wire Statute, codified at 18 U.S.C. 1084, to prohibit Internet bingo operations to residents of the United States. (Internet Gambling Prohibition Act of 1997; S. 474 and H.R. 2380). Our policy will be not to offer our Internet bingo services to citizens or residents of any jurisdiction that prohibits such activities, and to otherwise endeavor to comply with laws pertaining to bingo.

Transaction with Ampang Investments Ltd.

On March 21, 2000 we entered into a Debenture Agreement in favor of Ampang Investments Ltd. to secure a line of credit in the sum of $750,000.00. Ampang Investments Ltd. is owned by an officer of the Company.

On September 21, 2000 we issued to Ampang Investments Ltd. 10,000,000 restricted shares of common stock for the following purposes:



|* | consulting services related to the development and ongoing maintenance of the Internet Trivia Bingo game;
|- | ---------------------------------------------------------------------------------------------------------
|* | consulting services related to the development of the TV Trivia Bingo game show concept;                 
|* | consulting services related to the production of the TV Trivia Bingo game show pilot;                    
|* | design and invention of TV Trivia Bingo; marketing and advertising support; and                          
|* | investor relations and related services.                                                                 

On December 31, 2001, we effected a 1 for 25 reverse stock split.

On January 2, 2002, Ampang converted the debenture to 2,876,376 shares of common stock.

On July 15, 2003 we purchased all the intellectual property and trademarks from Ampang Investments Inc. for 24,000,000 shares of common stock. The cost basis of the intellectual property and trademarks was $138,000. This is the cost basis of the shares Ampang used to purchase the property in 2000. The historical cost is used as Ampang is considered a related party.

The forgoing number of shares reflects the issuance of three additional shares of common stock for each one share outstanding as a stock dividend to shareholders of record on November 14, 2003.

Transfer Agent

Our transfer agent is Transfer Online, Inc., 317 SW Alder Street, 2nd Floor, Portland, Oregon 97204  and their telephone number is (503) 227-2950.

Company's Office

Our corporate headquarters are located at Suite 1214, 120 Adelaide Street West, Toronto Ontario, Canada, M5H 1T1 and our telephone number is (416) 281-3335. We lease the office space on a month-to-month lease. There is no written document evidencing our lease. Our lease is oral. Our monthly rental is CDN$2,500.

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Employees

We are a development stage company and currently have no employees other than our officers and directors. We intend to hire additional employees as needed.

Risk Factors

1. Because our auditors have issued a going concern opinion and because our officers and directors will not loan any money to us, we may not be able to achieve our objectives and may have to suspend or cease operations.
2. We lack an operating history and have losses which we expect to continue into the future.
3. We have to generate interest in our website after we have obtained advertisers. If we can't do that, we will not generate revenues and will have to go out of business.

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1. We are dependent upon an outside technology supplier. If it ceases operations or is unwilling to provide services to us, we may have to cease operations.
2. Because our officers and directors will only be devoting limited time to our operations, our operations may be sporadic which may result in periodic interruptions or suspensions of operations.
3. Because there is a limited public trading market for our common stock, you may not be able to resell your stock.
4. Because we are a penny stock, you may not be able to resell your shares.

ITEM 2.     DESCRIPTION OF PROPERTIES.

Our corporate headquarters are located at Suite 1214, 120 Adelaide Street West, Toronto, Ontario, Canada M5H 1T1 and our telephone number is (416) 281-3335. We lease the office space on a month-to-month lease. There are no written documents evidencing our lease. Our lease is oral. Our monthly rental is CDN$2,500.

ITEM 3.     LEGAL PROCEEDINGS.

We are not a party to any pending litigation and none is contemplated or threatened.

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ITEM 4.     SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

There were no matters submitted to the shareholders during the fourth quarter of 2005.

PART II

ITEM 5.     MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDERS MATTERS.

Our shares of common stock are traded on the Bulletin Board operated by the National Association of Securities Dealers, Inc. (the "Bulletin Board") under the trading symbol "FBGO."

Summary trading by quarter for the 2005 and 2004 fiscal years are as follows:



|Fiscal Quarter | High           | Low 
|-------------- | -------------- | ----
|2005           |                |     
|               | Fourth Quarter | 0.40
|               | Third Quarter  | 0.54
|               | Second Quarter | 1.29
|               | First Quarter  | 0.80
|2004           |                |     
|               | Fourth Quarter | 0.45
|               | Third Quarter  | 0.45
|               | Second Quarter | 0.51
|               | First Quarter  | 0.59

These quotations reflect the 1 for 25 reverse stock split which occurred on December 31, 2001 and a stock dividend of three additional shares for each one share outstanding on November 14, 2003. They are inter-dealer prices, without retail mark-up, mark-down or commissions and may not represent actual transactions. As of April 25, 2005, we had 115 holders of record of our common stock.

Dividends

We have not declared any cash dividends, nor do we intend to do so. We are not subject to any legal restrictions respecting the payment of dividends, except that they may not be paid to render us insolvent. Dividend policy will be based on our cash resources and needs and it is anticipated that all available cash will be needed for our operations in the foreseeable future.

Section 15(g) of the Securities Exchange Act of 1934.

Our shares are covered by section 15(g) of the Securities Exchange Act of 1934, as amended that imposes additional sales practice requirements on broker/dealers who sell such securities to persons other than established customers and accredited investors (generally institutions with assets in excess of $5,000,000 or individuals with net worth in excess of $1,000,000 or annual income exceeding $200,000 or $300,000 jointly with their spouses). For transactions covered by the rule, the broker/dealer must make a special suitability determination for the purchase and have received the purchaser's written agreement to the transaction prior to the sale. Consequently, the rule may affect the ability of broker/dealers to sell our securities and also may affect your ability to sell your shares in the secondary market.

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Section 15(g) also imposes additional sales practice requirements on broker/dealers who sell penny securities. These rules require a one page summary of certain essential items. The items include the risk of investing in penny stocks in both public offerings and secondary marketing; terms important to in understanding of the function of the penny stock market, such as "bid" and "offer" quotes, a dealers "spread" and broker/dealer compensation; the broker/dealer compensation, the broker/dealers duties to its customers, including the disclosures required by any other penny stock disclosure rules; the customers rights and remedies in causes of fraud in penny stock transactions; and, the NASD's toll free telephone number and the central number of the North American Administrators Association, for information on the disciplinary history of broker/dealers and their associated persons.

Public Offering

Status of our public offering

On October 19, 2004, our Post-Effective Amendment to our Form SB-2 registration statement was declared effective by the Securities and Exchange Commission, file no. 333-119490. We offered up to 12,000,000 shares of common stock, with no minimum at an offering price of $0.6625 per share and certain selling shareholders offered up to 27,767,000 shares of common stock. The offering period was 270 days from the effective date of our Post-Effective Amendment to our Form SB-2 registration statement. We began our offering on October 19, 2004. There were no underwriters involved in our offering. All offers and sales are made by our officers and directors.

We sold 1,500,000 shares of common stock and raised $993,750.  The proceeds from the sale of the shares was used as follows:



| |  | Website development      | $ | 1,981   | 
| |  | ------------------------ | - | ------- | 
| |  | Game development         | $ | 36,022  | 
| |  | Marketing                | $ | 111,456 | 
| |  | Salaries to the officers | $ | 25,000  | 
| |  | Working capital          | $ | 441,347 | 

Of the $993,750, $377,944 has not been spent.

From the effective date of the registration statement, no underwriting discounts nor commissions, finders' fees and similar expenses (direct or indirect) were paid. From the effective date of the registration statement, no funds were used for the construction of plant, buildings or facilities, no funds were used for purchases of real estate or acquisition of other business or temporary investments other than bank accounts.

Securities authorized for issuance under equity compensation plans

We have no equity compensation plans, and accordingly we have no securities authorized for issuance under equity compensation plans.





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ITEM 6.     MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULT OF OPERATIONS.

This section includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance and may contain forward-looking statements that involve risks and uncertainties. A number of important factors could cause our actual results to differ materially from those expressed in any forward-looking statements made by us. Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties that may cause actual results to differ materially from historical results or our predictions.

Our auditors have issued a going concern opinion. This means that our auditors believe there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital to pay our bills. This is because we have generated minimal revenues.

Our officers and directors have indicated that they are unwilling to make any commitment to loan additional capital at this time, other than to pay fees connected with our filings with the SEC. Accordingly, our officers and directors are under no legal obligation to make additional capital contributions to us in the future. Should we require additional funds and are unable to raise it we will either have to suspend operations until we do raise the funds, or cease operations entirely.

On November 28, 2005, Thomas M. Sheppard resigned from his position of Secretary, Chief Executive Officer and a member of the Board of Directors.

On November 28, 2005, Michael G. Kabin was elected as Secretary, Chief Executive Officer and a member of the Board of Directors of the Company.

We do not intend to hire additional employees at this time.

Limited Operating History; Need for Additional Capital

We are a start-up stage corporation and have generated minimal revenues from operations. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources, possible delays in the further development of our game, and possible cost overruns due to price and cost increases in services.

To become profitable and competitive, we must continue to operate our web-site and sell advertising on it. We continue to seek equity financing to provide for the capital required to promote our web-site.

We have no assurance that future financing will be available to us on acceptable terms. If financing is not available on satisfactory terms, we may be unable to continue to further update and develop our game and/or web-site. Additional equity financing may result in additional dilution to existing shareholders.

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Results of Operations

Since January 1, 2000

We are continuing to develop our Internet Bingo game and our web-site. Since May 1999, we have used our common stock to raise money for the development of the web-site, the development of our Internet Bingo game, and, for corporate expenses. We received a loan of $750,000 from Ampang Investments Ltd. evidenced by a debenture. The debenture was converted to 719,094 shares of common stock. Ampang Investments Ltd. is owned by The Bentley Group Ltd., a company which is owned and controlled by Richard Lyle Wachter, our President and Chief Financial Officer.

The revenues generated previous to 2005 were in the third and fourth quarters of 2001. A total of $10,000 was generated from the sale of format licenses for our T.V. game show and internet software user agreement. This is not revenue generated from operations.

At December 31, 2005, we had negative working capital of $1,372,630 compared to negative working capital of $1,509,586 at December 31, 2004. This was a result of an increase in accrued salaries, along with notes and a decrease accounts payable. Accounts payable decreased from $141,686 on December 31, 2004 to $87,761 December 31, 2005.

At December 31, 2005 and 2004, our primary asset was software, and the primary liabilities consisted of accounts payable, accrued interest and notes payable, and accrued salaries.

It is our intention to derive our operating revenues from the following sources:

1. advertising campaigns on its website, including merchandising its products;
2. the sale of CD ROMS and our "board game";
3. launching our television game show.

In 2000, we issued a total of 6,100,000 shares of common stock in director, consulting and marketing fees valued $12,978,700. 1,850,000 shares were issued to Sharpe Capital for marketing and public relations; 4,000,000 shares were issued to Ampang Investments for consulting; and, 250,000 shares were issued to Marco Stifani, Michael DeMarco and Edgar Clark, former directors, as director's fees.

Fiscal December 31, 2005 Compared to Fiscal December 31, 2004

We had a minimal amount of revenues from operations in fiscal year end 2004 and 2005 from the Beta test and launch of the Trivia Bingo.com website.

At December 31, 2005, we had negative working capital of $1,372,630 compared to negative working capital of $1,509,586 at December 31, 2004. This was a result of an increase in accrued salaries, along with notes and a decrease accounts payable. Accounts payable decreased from $141,686 on December 31, 2004 to $87,761 December 31, 2005.

At December 31, 2005 and 2004 our primary asset were cash and software, and the primary liabilities consisted of accounts payable, accrued interest, notes payable, and accrued salaries.

-15-

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Liquidity and Capital Resources

We continue to maintain a cash balance in order to fulfill our financial commitments. This cash balance or burn rate required to fulfill our financial commitments is $32,000 per month. The approximate amount of time through which our current assets will fund existing operations, barring additional advances from shareholders, is 12.7 months. All of this cash balance has been obtained through borrowing and our SB-2 registration statement. In the past the majority shareholders have had to fund any cash shortfalls experienced by us.

Current assets increased from $162,619 at December 31, 2004 to $409,168 at December 31, 2005. Current liabilities at December 31, 2004, were $1,672,205. These liabilities increased at December 31, 2005, to $1,781,798.

We are generating minimal revenues from operations, but we continue to accrue expenses as though we were generating revenues.

Effects of Inflation

Inflation and changing prices will not and are not expected to have a significant effect on our operations during the foreseeable future.

Recent Accounting Pronouncements

In March 2006, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 156, "Accounting for Servicing of Financial Assets -- an Amendment of FASB Statement No. 140." This statement requires an entity to recognize a servicing asset or servicing liability each time it undertakes an obligation to service a financial asset by entering into a servicing contract in any of the following situations: a transfer of the servicer's financial assets that meets the requirements for sale accounting; a transfer of the servicer's financial assets to a qualifying special-purpose entity in a guaranteed mortgage securitization in which the transferor retains all of the resulting securities and classifies them as either available-for-sale securities or trading securities in accordance with FASB Statement No. 115; or an acquisition or assumption of an obligation to service a financial asset that does not relate to financial assets of the servicer or its consolidated affiliates. The statement also requires all separately recognized servicing assets and servicing liabilities to be initially measured at fair value, if practicable and permits an entity to choose either the amortization or fair value method for subsequent measurement of each class of servicing assets and liabilities. This statement is effective for fiscal years beginning after September 15, 2006, with early adoption permitted as of the beginning of an entity's fiscal year. Management believes the adoption of this statement will have no impact on the Company's financial condition or results of operations.

In February 2006, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 155, "Accounting for Certain Hybrid Financial Instruments, an amendment of FASB Standards No. 133 and 140" (hereinafter "SFAS No. 155"). This statement established the accounting for certain derivatives embedded in other instruments. It simplifies accounting for certain hybrid financial instruments by permitting fair value remeasurement for any hybrid instrument that contains an embedded derivative that otherwise would require bifurcation under SFAS No. 133 as well as eliminating a restriction on the passive derivative instruments that a qualifying special-purpose entity ("SPE") may hold under SFAS No. 140.  This statement allows a public entity to

-16-

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irrevocably elect to initially and subsequently measure a hybrid instrument that would be required to be separated into a host contract and derivative in its entirety at fair value (with changes in fair value recognized in earnings) so long as that instrument is not designated as a hedging instrument pursuant to the statement. SFAS No. 140 previously prohibited a qualifying special-purpose entity from holding a derivative financial instrument that pertains to a beneficial interest other than another derivative financial instrument. This statement is effective for fiscal years beginning after September 15, 2006, with early adoption permitted as of the beginning of an entity's fiscal year. Management believes the adoption of this statement will have no impact on the Company's financial condition or results of operations.

In May 2005, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 154, "Accounting Changes and Error Corrections," (hereinafter "SFAS No. 154") which replaces Accounting Principles Board Opinion No. 20, "Accounting Changes", and SFAS No. 3, "Reporting Accounting Changes in Interim Financial Statements  -  An Amendment of APB Opinion No. 28". SFAS No. 154 provides guidance on accounting for and reporting changes in accounting principle and error corrections. SFAS No. 154 requires that changes in accounting principle be applied retrospectively to prior period financial statements and is effective for fiscal years beginning after December 15, 2005. Management does not expect SFAS No. 154 to have a material impact on the Company's financial position, results of operations, or cash flows.

In December 2004, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 153, "Exchanges of Nonmonetary Assets - an Amendment of APB Opinion No. 29", (hereinafter "SFAS No. 153"). This statement eliminates the exception to fair value for exchanges of similar productive assets and replaces it with a general exception for exchange transactions that do not have commercial substance, defined as transactions that are not expected to result in significant changes in the cash flows of the reporting entity. This statement is effective for financial statements for fiscal years beginning after June 15, 2005. Management believes the adoption of this statement will have no impact on the Company's financial condition or results of operations.

Accounting for Stock Options and Warrants Granted to Employees and Nonemployees

Statement of Financial Accounting Standards No. 123, "Accounting for Stock-Based Compensation" (hereinafter "SFAS No. 123"),defines a fair value-based method of accounting for stock options and other equity instruments. The Company has adopted this method, which measures compensation costs based on the estimated fair value of the award and recognizes that cost over the service period.

Revenue Recognition

The Company will recognize revenue from its website pay-to-play games as players sign up for memberships. The Company will also recognize their portion of advertising revenue from commercial spots sold during the television presentations of their games as established by the contracts with the network and advertiser.





-17-

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ITEM 7.     FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.

INDEX



|INDEPENDENT AUDITOR'S REPORT  | F-1                                        
|----------------------------- | -------------------------------------------
|FINANCIAL STATEMENTS          |                                            
|                              | Balance Sheets                             
|                              | Statements of Operations                   
|                              | Statement of Stockholders' Equity (Deficit)
|                              | Statements of Cash Flows                   
|NOTES TO FINANCIAL STATEMENTS | F-7                                        





























-18-

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Board of Directors
FirstBingo.com
Toronto, Ontario



REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We have audited the accompanying consolidated balance sheets of FirstBingo,com (a Nevada corporation) as of December 31, 2005 and 2004, and the related consolidated statements of operations, stockholders' equity and cash flows for the years then ended and for the peroid from March 30, 1990 (inception) to December 31, 2005. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of FirstBingo.com as of December 31, 2005 and 2004, and the results of its operations, stockholders'  equity and cash flows for the years then ended and for the period from March 30, 1990 (inception) to December 31, 2005 in conformity with accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming the Company will continue as a going concern. As discussed in Note 2, the Company has a history of operating losses, has limited cash resources, and its viability is dependent upon its ability to meet its future financing requirements, and the success of future operations. These factors raise substantial doubt about the Company's ability to continue as a going concern. Management's plans regarding those matters also are described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Williams & Webster, P.S.
Certified Public Accountants
Spokane, Washington
May 9, 2006



F-1



-19-

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|FIRSTBINGO.COM
(A DEVELOPMENT STAGE ENTERPRISE)
CONSOLIDATED BALANCE SHEETS |                               |                                                               |                                                                       |        |              |             
|--------------------------------------------------------------------------- | ----------------------------- | ------------------------------------------------------------- | --------------------------------------------------------------------- | ------ | ------------ | ------------
|                                                                            |                               |                                                               |                                                                       |        |              |             
|                                                                            |                               |                                                               |                                                                       |        |              | December 31,
|ASSETS                                                                      |                               |                                                               | 2005                                                                  |        |              | 2004        
|                                                                            | CURRENT ASSETS                |                                                               |                                                                       |        |              |             
|                                                                            |                               | Cash                                                          |                                                                       | $      | 409,168      |             
|                                                                            |                               |                                                               | Total Current Assets                                                  |        |              | 409,168     
|                                                                            |                               |                                                               |                                                                       |        |              |             
|                                                                            | OTHER ASSETS                  |                                                               |                                                                       |        |              |             
|                                                                            |                               | Website and software license, net of accumulated amortization |                                                                       |        | 43,585       |             
|                                                                            |                               | Computer equipment, net of accumulated depreciation           |                                                                       |        | 5,020        |             
|                                                                            |                               | Goodwill                                                      |                                                                       |        | 6,924        |             
|                                                                            |                               |                                                               | Total Other Assets                                                    |        |              | 55,529      
|                                                                            |                               |                                                               |                                                                       |        |              |             
|                                                                            |                               | TOTAL ASSETS                                                  |                                                                       | $      | 464,697      |             
|                                                                            |                               |                                                               |                                                                       |        |              |             
|LIABILITIES AND STOCKHOLDERS' DEFICIT                                       |                               |                                                               |                                                                       |        |              |             
|                                                                            | CURRENT LIABILITIES           |                                                               |                                                                       |        |              |             
|                                                                            |                               | Accounts payable                                              |                                                                       | $      | 15,457       |             
|                                                                            |                               | Accounts payable - related party                              |                                                                       |        | 72,304       |             
|                                                                            |                               | Accrued interest                                              |                                                                       |        | 77,089       |             
|                                                                            |                               | Accrued salaries                                              |                                                                       |        | 1,390,959    |             
|                                                                            |                               | Note payable - related party                                  |                                                                       |        | 187,989      |             
|                                                                            |                               | Convertible note payable                                      |                                                                       |        | 38,000       |             
|                                                                            |                               |                                                               | Total Current Liabilities                                             |        |              | 1,781,798   
|                                                                            |                               |                                                               |                                                                       |        |              |             
|                                                                            | COMMITMENTS AND CONTINGENCIES |                                                               |                                                                       | 2,400  |              |             
|                                                                            |                               |                                                               |                                                                       |        |              |             
|                                                                            | STOCKHOLDERS' DEFICIT         |                                                               |                                                                       |        |              |             
|                                                                            |                               | Common stock, 50,000,000 shares authorized, $0.001 par value; |                                                                       |        |              |             
|                                                                            |                               |                                                               | 33,528,524 and 31,928,524 shares issued and outstanding, respectively | 33,528 |              |             
|                                                                            |                               | Additional paid-in capital                                    |                                                                       |        | 16,870,899   |             
|                                                                            |                               | Accumulated deficit during development stage                  |                                                                       |        | (18,223,928) |             
|                                                                            |                               |                                                               | Total Stockholder's Deficit                                           |        |              | (1,319,501) 
|                                                                            |                               |                                                               |                                                                       |        |              |             
|                                                                            |                               | TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT                   |                                                                       | $      | 464,697      |             







The accompanying notes are an integral part of these financial statements.

F-2



-20-

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|FIRSTBINGO.COM                       
|-------------------------------------
|(A DEVELOPMENT STAGE ENTERPRISE)     
|CONSOLIDATED STATEMENTS OF OPERATIONS
|                                     
|                                     
|                                     
|                                     
|REVENUES                             
|                                     
|COST OF REVENUES                     
|                                     
|GROSS PROFIT                         
|                                     
|EXPENSES                             
|                                     
|                                     
|                                     
|                                     
|                                     
|                                     
|                                     
|                                     
|                                     
|                                     
|                                     
|                                     
|                                     
|                                     
|                                     
|                                     
|                                     
|LOSS FROM OPERATIONS                 
|                                     
|OTHER INCOME (EXPENSES)              
|                                     
|                                     
|                                     
|                                     
|                                     
|LOSS BEFORE INCOME TAXES             
|                                     
|INCOME TAXES                         
|                                     
|NET LOSS                             
|                                     
|                                     
|                                     
|                                     
|                                     

The accompanying notes are an integral part of these financial statements.

F-3



-21-

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|FIRSTBINGO.COM
A DEVELOPMENT STAGE ENTERPRISE)
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)
|-------------------------------------------------------------------------------------------------------
|                                                                                                       
|                                                                                                       
|                                                                                                       
|                                                                                                       
|                                                                                                       
|                                                                                                       
|Initial issuance of common stock in                                                                    
|                                                                                                       
|                                                                                                       
|Cumulative net loss for the years ended                                                                
|                                                                                                       
|                                                                                                       
|Balance, December 31, 1996                                                                             
|                                                                                                       
|Net loss for year ending, December 31, 1997                                                            
|                                                                                                       
|Balance, December 31, 1997                                                                             
|                                                                                                       
|Net loss for year ending, December 31, 1998                                                            
|                                                                                                       
|Balance, December 31, 1998                                                                             
|                                                                                                       
|Net loss for year ending December 31, 1999                                                             
|                                                                                                       
|Balance, December 31, 1999                                                                             
|                                                                                                       
|Issuance of common stock for services at an                                                            
|                                                                                                       
|                                                                                                       
|Options issued for consulting fees                                                                     
|                                                                                                       
|Issuance of common stock for acquisition of                                                            
|                                                                                                       
|                                                                                                       
|Net loss for year ending December 31, 2000                                                             
|                                                                                                       
|Balance, December 31, 2000                                                                             
|                                                                                                       
|Options granted for consulting fees                                                                    
|                                                                                                       
|Expiration of stock options                                                                            
|                                                                                                       
|Issuance of common stock for services at an                                                            
|                                                                                                       
|                                                                                                       
|Net loss for the year ending December 31, 2001                                                         
|                                                                                                       
|Balance, December 31, 2001                                                                             
|                                                                                                       
|Issuance of common stock for services at $0.25 per share                                               
|                                                                                                       
|Issuance of common stock for accrued interest and                                                      
|                                                                                                       
|                                                                                                       
|Issuance of common stock for services                                                                  
|                                                                                                       
|                                                                                                       
|Issuance of common stock for services                                                                  
|                                                                                                       
|                                                                                                       
|Expiration of stock options                                                                            
|                                                                                                       
|Net loss for the year ending December 31, 2002                                                         
|                                                                                                       
|Balance, December 31, 2002                                                                             

The accompanying notes are an integral part of these financial statements.

F-4



-22-

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|FIRSTBINGO.COM                                                 
|---------------------------------------------------------------
|(A DEVELOPMENT STAGE ENTERPRISE)                               
|CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT)       
|                                                               
|                                                               
|                                                               
|                                                               
|                                                               
|                                                               
|Balance, December 31, 2002                                     
|                                                               
|Stock issued for convertible debt and accrued                  
|                                                               
|                                                               
|Stock issued for purchase of assets at $0.01 per share         
|                                                               
|Common stock issued for fractional shares                      
|                                                               
|Net loss for year ending December 31, 2003                     
|                                                               
|Balance, December 31, 2003                                     
|                                                               
|Stock issued for purchase of subsidiary                        
|                                                               
|Stock issued for consulting services                           
|                                                               
|Net loss for year ending December 31, 2004                     
|                                                               
|Balance, December 31, 2004                                     
|                                                               
|Common stock issued for cash at $0.6625 per share              
|                                                               
|Common stock issued for consulting agreement at $0.45 per share
|                                                               
|Net loss for year ending December 31, 2005                     
|                                                               
|Balance, December 31, 2005                                     













The accompanying notes are an integral part of these financial statements.

F-5



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|FIRSTBINGO.COM
(A DEVELOPMENT STAGE ENTERPRISE)
CONSOLIDATED STATEMENTS OF CASH FLOWS
|-------------------------------------------------------------------------------------
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|CASH FLOWS FROM OPERATING ACTIVITIES:                                                
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|CASH FLOWS FROM INVESTING ACTIVITIES:                                                
|                                                                                     
|                                                                                     
|                                                                                     
|CASH FLOWS FROM FINANCING ACTIVITIES:                                                
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|Net increase (decrease) in cash                                                      
|                                                                                     
|Cash, beginning of period                                                            
|                                                                                     
|Cash, end of period                                                                  
|                                                                                     
|SUPPLEMENTAL CASH FLOW DISCLOSURES:                                                  
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     
|NON-CASH INVESTING AND FINANCING ACTIVITIES:                                         
|                                                                                     
|                                                                                     
|                                                                                     
|                                                                                     





The accompanying notes are an integral part of these financial statements.

F-6



-24-

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FIRSTBINGO.COM
(A DEVELOPMENT STAGE ENTERPRISE)
CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2005

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

FirstBingo.com, formerly Vista Medical Terrace, Inc. (hereinafter "the Company"), was incorporated in March 1990 under the laws of the State of Nevada for any lawful business. The name change to FirstBingo.com was effective on May 25, 1999 to reflect the Company's change in primary focus to the offering of interactive online internet entertainment and game playing. The Company's operations are located in Toronto, Ontario. As part of the acquisition of software in 1999, the Company acquired a non-operating wholly owned subsidiary, Lucky Port Limited, a British Virgin Islands corporation. See Note 4.

During the year ended December 31, 2004, the Company acquired WorldWide-Exclusive LTD., a privately held Canadian corporation through the issuance of 30,000 shares of FirstBingo.com's common stock with a fair market value of $6,900. See Note 9.

The Company is in the development stage and as of December 31, 2005 had not realized any significant revenues from its planned operations. The Company's year-end is December 31.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

This summary of significant accounting policies of FirstBingo.com is presented to assist in understanding the Company's financial statements. The financial statements and notes are representations of the Company's management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America, and have been consistently applied in the preparation of the financial statements.

Development Stage ActivitiesThe Company has been in the development stage since its formation on March 30, 1990. It is primarily engaged in internet entertainment and the business of gaming. During 2001, the Company received an initial payment on its licensing agreement, and in 2005 the Company initiated its pay to play option on its internet game site (in order to qualify people for the pilot game shows produced in 2005), but neither activity was sufficient for recognition as an operating company. (See Note 8.)

Foreign Currency Translation and Other Comprehensive IncomeThe Company has adopted Financial Accounting Standard No. 52. Monetary assets and liabilities denominated in foreign currencies are translated into United States dollars at rates of exchange in effect at the balance sheet date. Gains or losses are included in income for the year. Non-monetary assets, liabilities and items recorded in income arising from transactions denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction.

As the Company's functional currency is the U.S. dollar, and all translation gains and losses are transactional, and the Company has no assets with value recorded in Canadian dollars, there is no recognition of other comprehensive income in the financial statements.

F-7



-25-

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FIRSTBINGO.COM
(A DEVELOPMENT STAGE ENTERPRISE)
CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2005

Going ConcernThe accompanying financial statements have been prepared assuming that the Company will continue as a going concern.

As shown in the accompanying financial statements, the Company incurred a net loss of $983,942 for the year ended December 31, 2005. In addition, the Company has limited resources, negative working capital, and a large accumulated deficit. The future of the Company is dependent upon future profitable operations from the commercial success or licensing of its trivia bingo in the form of the final production of an internet game, television game show and/or stand alone video game. The Company has put technology in place which will, if successful, mitigate these factors that raise substantial doubt about the Company's ability to continue as a going concern. For the twelve-month period subsequent to December 31, 2005, the Company anticipates that its minimum cash requirements to continue as a going concern will be less than $600,000. The anticipated source of funds is the issuance for cash of additional equity instruments and revenues from the registration fees for online qualification for the television game show. In addition, management is actively seeking additional outside parties for the licensing of its trivia bingo game. The financial statements do not include any recoverability and classification of recorded assets, or the amounts and classification of liabilities that might be necessary in the event the Company cannot continue in existence. Management has established plans to seek additional capital from new equity securities issuances that will provide funds needed to increase liquidity, fund internal growth and fully implement its business plan.

Principles of ConsolidationThe accompanying financial statements include the accounts of the Company and its subsidiaries, Lucky Port Limited and WorldWide-Exclusive Limited. Luck Port Limited is a non-operating subsidiary while WorldWide-Exclusive is a fully-operating subsidiary. All significant inter-company transactions and balances have been eliminated in consolidation. See Notes 4 and 9.

Accounting MethodThe Company uses the accrual method of accounting in accordance with accounting principles generally accepted in the United States of America.

Basic and Diluted Loss Per ShareNet loss per share was computed by dividing the net loss by the weighted average number of shares outstanding during the period. The weighted average number of shares was calculated by taking the number of shares outstanding and weighting them by the amount of time that they were outstanding. Basic and diluted loss per share were the same at December 31, 2005 and 2004 as there were outstanding 200,000 shares under convertible debt that were considered anti-dilutive.

Cash and Cash EquivalentsFor purposes of its statement of cash flows, the Company considers all short-term debt securities purchased with a maturity of three months or less to be cash equivalents.

F-8



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FIRSTBINGO.COM
(A DEVELOPMENT STAGE ENTERPRISE)
CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2005

Concentration of Credit RiskThe Company maintains is bank accounts in Canada. Although the country and the financial institutions are considered creditworthy and have not experienced any losses on their deposits, at December 31, 2005, the accounts owned by the Company that are denominated in U.S. dollars are not insured, therefore $378,865 and $143,185 was unisured at December 31, 2005 and 2004, respectively. The accounts denominated in Canadian dollars are insured up to $60,000 CAD, neither account has exceeded this limit.

Fair Value of Financial InstrumentsThe Company's financial instruments as defined by Statement of Financial Accounting Standards No. 107, "Disclosures about Fair Value of Financial Instruments," include cash, accounts payable and accrued expenses and short-term borrowings. All instruments are accounted for on a historical cost basis, which, due to the short maturity of these financial instruments, approximates fair value at December 31, 2005 and 2004.

Provision for TaxesIncome taxes are provided based upon the liability method of accounting pursuant to Statement of Financial Accounting Standards No. 109 "Accounting for Income Taxes" (hereinafter "SFAS No. 109"). Under this approach, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end. A valuation allowance is recorded against deferred tax assets if management does not believe the Company has met the "more likely than not" standard imposed by SFAS No. 109 to allow recognition of such an asset.

At December 31, 2005, the Company had net deferred tax assets of $1,650,000 principally arising from net operating loss carryforwards for income tax purposes calculated at an expected rate of 34%. As management of the Company cannot determine that it is more likely than not that the Company will realize the benefit of the net deferred tax asset, a valuation allowance equal to the net deferred tax asset was recorded at December 31, 2005 and 2004. The significant components of the deferred tax asset at December 31, 2005 and December 31, 2004 were as follows:

|                                       |   | December 31, 2005 |   | December 31, 2004
|-------------------------------------- | - | ----------------- | - | -----------------
|                                       |   |                   |   |                  
|Net operating loss carryforward        | $ | 4,800,000         | $ | 3,800,000        
|                                       |   |                   |   |                  
|Deferred tax asset                     | $ | 1,650,000         | $ | 1,300,000        
|Deferred tax asset valuation allowance |   | (1,650,000)       |   | (1,300,000)      
|Net deferred tax asset                 | $ | -                 | $ | -                

At December 31, 2005, the Company has net operating loss carryforwards of approximately $4,800,000 which expire in the years 2020 through 2025. This includes $200,000 of losses for stock issued in 2002 for director's salaries which had been previously classified as nondeductible service payments and $16,100 of losses for stock issued in 2004 for consulting services. In addition, in prior periods the Company recognized approximately $13,200,000 of losses from the issuance of common stock for services which were not deductible for tax purposes and are not included in the above calculation of deferred tax assets. The change in the allowance account from December 31, 2004 to December 31, 2005 was an increase of $350,000, due to the increase in net operating losses.

F-9



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FIRSTBINGO.COM
 (A DEVELOPMENT STAGE ENTERPRISE)
CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2005

Use of EstimatesThe process of preparing financial statements in conformity with accounting principles generally accepted in the United States of America requires the use of estimates and assumptions regarding certain types of assets, liabilities, revenues, and expenses. Such estimates primarily relate to unsettled transactions and events as of the date of the financial statements. Accordingly, upon settlement, actual results may differ from estimated amounts.

Impaired Asset PolicyIn October 2001, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 144, "Accounting for the Impairment or Disposal of Long-Lived Assets" (hereinafter "SFAS No. 144"). SFAS No. 144 replaces Statement of Financial Accounting Standards No. 121, "Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of." This standard establishes a single accounting model for long-lived assets to be disposed of by sale, including discontinued operations. SFAS No. 144 requires that these long-lived assets be measured at the lower of carrying amount or fair value less cost to sell, whether reported in continuing operations or discontinued operations. This statement is effective beginning for fiscal years after December 15, 2001, with earlier application encouraged. During the year ended December 31, 2002, the Company determined that its software was impaired and accordingly recognized an impairment loss. In the years ended December 31, 2005 and 2004, the Company determined no further impairment of assets had occurred. See Note 3.

Derivative Instruments The Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 133, "Accounting for Derivative Instruments and Hedging Activities" (hereinafter "SFAS No. 133"), as amended by SFAS No. 137, "Accounting for Derivative Instruments and Hedging Activities - Deferral of the Effective Date of FASB No. 133", SFAS No. 138, "Accounting for Certain Derivative Instruments and Certain Hedging Activities", SFAS No. 149, "Amendment of Statement 133 on Derivative Instruments and Hedging Activities", SFAS No. 150, "Accounting for Certain Financial Instruments with Characteristics of Both Liabilities and Equity", and SFAS No. 155, "Accounting for Certain Hybrid Financial Instruments, an amendment of FASB Standards No. 133 and 140". These statements establish accounting and reporting standards for derivative instruments, including certain derivative instruments embedded in other contracts, and for hedging activities. They require that an entity recognize all derivatives as either assets or liabilities in the balance sheet and measure those instruments at fair value.

If certain conditions are met, a derivative may be specifically designated as a hedge, the objective of which is to match the timing of gain or loss recognition on the hedging derivative with the recognition of (i) the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk or (ii) the earnings effect of the hedged forecasted transaction. For a derivative not designated as a hedging instrument, the gain or loss is recognized in income in the period of change.



F-10



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FIRSTBINGO.COM
(A DEVELOPMENT STAGE ENTERPRISE)
CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2005

Historically, the Company has not entered into derivatives contracts to hedge existing risks or for speculative purposes.

At December 31, 2005 and 2004, the Company has not engaged in any transactions that would be considered derivative instruments or hedging activities.

Recent Accounting PronouncementsIn March 2006, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 156, "Accounting for Servicing of Financial Assets - an Amendment of FASB Statement No. 140."  This statement requires an entity to recognize a servicing asset or servicing liability each time it undertakes an obligation to service a financial asset by entering into a servicing contract in any of the following situations: a transfer of the servicer's financial assets that meets the requirements for sale accounting; a transfer of the servicer's financial assets to a qualifying special-purpose entity in a guaranteed mortgage securitization in which the transferor retains all of the resulting securities and classifies them as either available-for-sale securities or trading securities in accordance with FASB Statement No. 115; or an acquisition or assumption of an obligation to service a financial asset that does not relate to financial assets of the servicer or its consolidated affiliates. The statement also requires all separately recognized servicing assets and servicing liabilities to be initially measured at fair value, if practicable and permits an entity to choose either the amortization or fair value method for subsequent measurement of each class of servicing assets and liabilities. This statement is effective for fiscal years beginning after September 15, 2006, with early adoption permitted as of the beginning of an entity's fiscal year. Management believes the adoption of this statement will have no immediate impact on the Company's financial condition or results of operations.

In February 2006, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 155, "Accounting for Certain Hybrid Financial Instruments, an amendment of FASB Standards No. 133 and 140" (hereinafter "SFAS No. 155"). This statement established the accounting for certain derivatives embedded in other instruments. It simplifies accounting for certain hybrid financial instruments by permitting fair value remeasurement for any hybrid instrument that contains an embedded derivative that otherwise would require bifurcation under SFAS No. 133 as well as eliminating a restriction on the passive derivative instruments that a qualifying special-purpose entity ("
SPE") may hold under SFAS No. 140. This statement allows a public entity to irrevocably elect to initially and subsequently measure a hybrid instrument that would be required to be separated into a host contract and derivative in its entirety at fair value (with changes in fair value recognized in earnings) so long as that instrument is not designated as a hedging instrument pursuant to the statement. SFAS No. 140 previously prohibited a qualifying special-purpose entity from holding a derivative financial instrument that pertains to a beneficial interest other than another derivative financial instrument. This statement is effective for fiscal years beginning after September 15, 2006, with early adoption permitted as of the beginning of an entity's fiscal year. Management believes the adoption of this statement will have no immediate impact on the Company's financial condition or results of operations.



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FIRSTBINGO.COM
(A DEVELOPMENT STAGE ENTERPRISE)
CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2005

In May 2005, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 154, "Accounting Changes and Error Corrections," (hereinafter "SFAS No. 154") which replaces Accounting Principles Board Opinion No. 20, "Accounting Changes", and SFAS No. 3, "Reporting Accounting Changes in Interim Financial Statements - An Amendment of APB Opinion No. 28". SFAS No. 154 provides guidance on accounting for and reporting changes in accounting principle and error corrections. SFAS No. 154 requires that changes in accounting principle be applied retrospectively to prior period financial statements and is effective for fiscal years beginning after December 15, 2005. Management does not expect SFAS No. 154 to have an immediate material impact on the Company's financial position, results of operations, or cash flows.

In December 2004, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 153, "Exchanges of Nonmonetary Assets - an Amendment of APB Opinion No. 29", (hereinafter "SFAS No. 153"). This statement eliminates the exception to fair value for exchanges of similar productive assets and replaces it with a general exception for exchange transactions that do not have commercial substance, defined as transactions that are not expected to result in significant changes in the cash flows of the reporting entity. This statement is effective for financial statements for fiscal years beginning after June 15, 2005. Management believes the adoption of this statement will have no immediate impact on the Company's financial condition or results of operations.

Accounting for Stock Options and Warrants Granted to Employees and NonemployeesStatement of Financial Accounting Standards No. 123(R), "Accounting for Stock-Based Compensation" (hereinafter "SFAS No. 123(R)"), defines a fair value-based method of accounting for stock options and other equity instruments. The Company has adopted this method, which measures compensation costs based on the estimated fair value of the award and recognizes that cost over the service period.

Revenue RecognitionThe Company will recognize revenue from its website pay-to-play games as players sign up for memberships. The Company will also recognize their portion of advertising revenue from commercial spots sold during the television presentations of their games as established by the contracts with the network and advertiser.

NOTE 3 - INTANGIBLE ASSETS

Intangible AssetsIn September 2001, the Financial Accounting Standards Board issued Statement of Financial Accounting Standard No. 142, "Goodwill and Other Intangible Assets" (hereinafter "SFAS No. 142"). SFAS No. 142 prohibits the amortization of goodwill and other intangible assets with indefinite lives and requires periodic reassessment of the underlying value of such assets for impairment. SFAS No. 142 is effective for fiscal years beginning after December 15, 2001. On December 30, 2004, the Company adopted SFAS No. 142. Application of the nonamortization provision of SFAS No. 142 is expected to result in no change to the Company's results of operations, even though the Company acquired new nonamortizable intangible assets in the year ended December 31, 2004.



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FIRSTBINGO.COM
(A DEVELOPMENT STAGE ENTERPRISE)
CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2005

Goodwill represents the excess of the purchase price and related direct costs over the fair value of net assets acquired as of the date of the acquisition of WorldWide-Exclusive Ltd. The Company periodically reviews its goodwill to assess recoverability based on projected undiscounted cash flows from operations. Impairments are recognized in operating results when a permanent diminution in value occurs. At December 31, 2005, no impairment of the Company's goodwill was deemed necessary.

In past years, the Company capitalized $205,841, which is the contractual cost of the website and software license purchased from an independent supplier, and $1,500,000, which is the value of software acquired in exchange for stock. (See Note 4.) No portion of this software-acquired during the year ended December 31, 2000-was internally developed and, accordingly, there were no internal costs associated with this software which were charged to research and development. Consistent with SOP 98-1, the costs of the website and related software license-which was purchased solely for internal use and will not be marketed externally-have been capitalized and are being amortized over the estimated useful life of five years.

During the year ended December 31, 2002, the Company determined that the majority of its software was substantially impaired due to the fact that it would no longer be used in any aspect of the Company's operations. The impairment was charged to operations, resulting in a loss on impaired assets of $1,275,000.

During the year ended December 31, 2003, the Company issued 24,000,000 shares of common stock to a related party to purchase software technology that is integral to the operations of the Company. The software and patents were originally purchased by the related party for 600,000 shares of stock in FirstBingo.com that it had acquired in 2000 as payment for services. These shares, after a 1 for 25 stock split and then a 3 for 1 stock dividend, ultimately became a total of 96,000 shares with a final adjusted price of $1.44 per share for a total cost of $138,000. SAB No. 48 interprets that the historical cost of the common stock will be the cost of the non-monetary assets acquired by the Company. Accordingly, the aforementioned value of the stock issued to the related party is considered FirstBingo.com's basis in the software, which is being amortized over its estimated useful life of three years.

During the years ended December 31, 2005 and 2004, the Company's amortization expense attributable to the remaining unimpaired website and software license and computer equipment was $87,169.

NOTE 4 - COMMON STOCK

Upon incorporation, the Company issued 1,678,080 shares of common stock for $2,500. During the years ending December 31, 1990 through December 31, 1996, the Company was dormant and had minimal activity, resulting in a combined net loss of $3,200. There were no additional stock transactions during this period. Since 1997, the Company's board of directors has authorized a 92-for-1 forward stock split, a 2-for-1 forward split, a 1-for-25 reverse stock split, and a stock dividend that was treated as a forward stock split. All references in the accompanying financial statements and notes to the number of common shares and per share amounts, have been restated to reflect all changes in the Company's capital stock, including stock splits and reverse stock splits.

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FIRSTBINGO.COM
(A DEVELOPMENT STAGE ENTERPRISE)
CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2005

During 2000, the Company issued 976,000 shares for services which were valued at the fair market value of the shares at the date of issuance. Under a 1999 agreement, the Company acquired Lucky Port Ltd, a British Virgin Islands corporation, whose sole asset was computer software. This agreement required the Company to issue 960,000 shares of its common stock. This stock was issued during the year ended December 31, 2000. Valuation of these shares was determined based upon the value of the shares at the original signing date of the agreement.

During the year ended December 31, 2001, the Company issued 28,044 shares for services which were valued at the fair market value of the shares at the dates granted.

During the year ended December 31, 2002, the Company issued 800,000 shares to two of its directors for salaries and bonuses which were valued at $0.25 per share, the fair market value of the shares at the date of issue. In addition, the Company issued 2,876,376 shares of stock in satisfaction of a note payable to a related party. See Note 5.

Also during the year ended December 31, 2002, the Company issued a total of 280,000 shares of stock to two outside parties for technical services on the Company's website and online Trivia Bingo game. 140,000 shares were valued at $0.50 per share and 140,000 shares were issued at $0.63 per share, the fair market value of the shares on the dates the contracts were signed.

In February 2003, the Company issued 230,000 shares of common stock for convertible debentures and accrued interest totaling $36,783. See Note 6.

In July 2003, the Company issued 24,000,000 shares of common stock for the purchase of software and patents totaling $138,000. See Note 3.

On November 7, 2003, the Company's board of directors declared a 3 for 1 common stock dividend for all shareholders of record on November 14, 2003. This dividend was accounted for as a stock split for accounting purposes. Per-share amounts in the accompanying financial statements have been restated for the stock dividend.

During the year ended December 31, 2004, the Company issued 30,000 shares of stock with a fair market value of $0.23 per share, or $6,900 for the acquisition of WorldWide-Exclusive Ltd. The Company also issued 70,000 shares of common stock with a fair market value of $16,100 ($0.23 per share) to two of the former shareholders of WorldWide-Exclusive Ltd. as part of two consulting agreements.

During the year ended December 31, 2005, the Company issued 1,500,000 shares of common stock for cash of $0.6625 per share, or $993,750. The Company also issued 100,000 shares of common stock under the terms of a consulting agreement for $0.45 per share, or $45,000.

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FIRSTBINGO.COM
(A DEVELOPMENT STAGE ENTERPRISE)
CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2005

The Company records all noncash stock transactions at the fair market value of the shares on the dates the shares are granted with the exception of the stock issued pursuant to the software acquisition disclosed in Note 3. The fair market value for all transactions excluding those with related parties is derived from the market activity of the stock on the date of the transactions. The market activity is exclusively unrelated third party activity.

NOTE 5 - RELATED PARTY TRANSACTIONS

Certain consultants who received common stock options under the Company's non-qualified stock option plan are the Company's directors and stockholders. All options granted expired effective December 31, 2002. The Company also received uncollateralized advances from a related party to pay certain expenses. These unsecured advances bear no interest and are reflected in the financial statements as advances from shareholder.

The Company has received a total of $713,617 in cash funds from a related party in the form of an unsecured loan. This credit facility is a drawdown loan, with a maximum loan limit of $750,000. Interest is payable at 12% per annum, based upon the principal outstanding, and is due when the loan is called. In January 2002, the balance of the note was converted into 2,876,376 shares of stock, which approximates the value of the note and accrued interest at December 31, 2001. The shares were issued at a price of $1.00 per share, the fair market value of the shares on the date the shares were granted. As of December 31, 2005 and 2004, the Company has received an additional $99,250 from this related party, and interest of $34,267 and $22,357 has been accrued and expensed, respectively. The balances are included in "notes payable - related party" and "accrued interest" in the accompanying financial statements.

This same entity in 2004 loaned an additional $200,000 to the Company in the form of two unsecured loans. Interest was payable at 12% per annum, commencing on March 28, 2005 and was due on demand when the loan was called. On May 25, 2005, loan principal and accrued interest of $3,814 was repaid.

The Company's president has from time to time paid various expenses on behalf of the Company that the Company plans to reimburse at such time as it is able. During the year ended December 31, 2005, the Company repaid $10,780 of the outstanding amount. These expenses total approximately $65,000 and $75,000 at December 31, 2005 and 2004, respectively, and are included in "
accounts payable - related party" in the accompanying financial statements.

During the year ended December 31, 2003, the Company's president loaned $78,950 to the Company in the form of an unsecured loan. Interest is payable at 12% per annum, based upon the principal outstanding, and is due when the loan is called. During the year ended December 31, 2004, the president loaned an additional $9,787 under the same terms. As of December 31, 2005 and 2004, interest of $25,544 and $14,895 has been accrued and expensed, respectively. The balances are included in "notes payable - related party" and "accrued interest" in the accompanying financial statements.



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FIRSTBINGO.COM
(A DEVELOPMENT STAGE ENTERPRISE)
CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2005

In addition, the Company rented office space in 2003 from its chief executive officer on a month-to-month basis for $1,000 CDN (approximately $750 U.S.) plus miscellaneous expenses. From January to September 2004, the rent was $500 CDN (approx $410 U.S.) The Company also owes this officer's legal firm approximately $6,700 in 2003 for consulting and legal fees which is included in "accounts payable - related party" in the accompanying financial statements.

For other related party transactions, see Note 3.

NOTE 6 - CONVERTIBLE DEBT

On July 2, 2002, the Company sold in a private placement to accredited investors a three-month convertible pay-in-kind note with a scheduled maturity date of October 2, 2002, in the principal amount of $31,985 in cash. This debt, with an interest rate of 15% and a feature enabling conversion into shares of Company common stock at a conversion price equal to $1.00 CDN ($0.75 U.S.) per share, was offered pursuant to Section 4(2) of the Securities Act of 1933, as amended, and Rule 506 of Regulation D, promulgated under the Securities Act. In February 2003, the Company converted this debt into 230,000 shares of common stock. See Note 4.

On March 27, 2003, the Company sold in a private placement to accredited investors a three-month convertible pay-in-kind note due June 27, 2003, in the principal amount of $38,000 in cash. The note, with an interest rate of 15%, is convertible into shares of Company common stock at a conversion price equal to $0.25 CDN ($0.19 U.S.) per share. The Company offered the convertible subordinated debt pursuant to Section 4(2) of the Securities Act of 1933, as amended, and Rule 506 of Regulation D, promulgated under the Securities Act. At December 31, 2004 the convertible debenture was delinquent and the Company and investor were considering the options for payment. No additional interest or late payment penalties have been accrued or assessed.

NOTE 7 - STOCK OPTIONS

All stock options issued prior to January 1, 2004 have expired.

During the years ended December 31, 2005 and 2004, the Company did not issue any additional options.

NOTE 8 - LICENSE AGREEMENTS

Tesauro S.A.On April 3, 2001, the Company entered into a licensing agreement with Tesauro S.A. ("Tesauro"), a corporation located in Spain, for use in producing and distributing the Trivia Bingo Game in a television game show format.

Upon execution of the agreement, Tesauro agreed to pay to the Company a non-refundable fee of $10,000, plus any taxes eligible. A payment of $1,200 was due upon execution of the agreement, and thereafter eleven monthly payments of $800 are payable on the first day of each month. As of December 31, 2003, the Company had received the entire fee. Tesauro overpaid its license by $2,400 which is included in the accompanying financial statements under "Commitments and Contingencies."



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FIRSTBINGO.COM
(A DEVELOPMENT STAGE ENTERPRISE)
CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2005

Additional terms of the agreement include provisions for royalties to be paid to the Company in the event of the aforementioned television show being broadcast. The underlying royalty payment schedule includes a 20% increase in each of the four years that are included under this agreement. No royalties have been earned or received under this agreement.

BingoTV NetOn July 15, 2004, the Company entered into a licensing agreement with the Bingo TVNet Corporation for the development of the Trivia Bingo game in various arenas including the internet, interactive and standard television. The terms of the agreement state that Bingo TVNet will produce or sub-license to produce a version of the Trivia Bingo game show. The producer will assume all costs of production of the show. The Company will contribute 10% of its share of net revenues each month to a prize pool, from which the cash and other prizes will be paid.

In addition, the terms of the licensing agreement provide that the Company will receive a 5% royalty from merchandise and a 40% share of net revenues from the various games. The revenue share is to be calculated after the production cost (not to exceed $30,000) is deducted from net revenues. The amount of the production cost is to be distributed to the producer.

Westar TV Ltd.On June 4, 2004 the Company entered into a licensing agreement with Westar TV Ltd, a corporation located in the Cayman Islands, for the production and distribution of the Trivia Bingo game in the territory of Bermuda. The Company will receive 50% of revenues, net of the cost of establishing the prize pool. Additionally, the Company will receive a 50% royalty on all merchandise sales in the territory.

As of December 31, 2005, Westar TV Ltd has not developed a game show and no revenues have been recognized.

NOTE 9 - COMMITMENTS AND CONTINGENCIES

For the years ended December 31, 2005 and 2004, the Company has agreed to pay two of its officers annual salaries of $250,000 and $100,000 for their services to the Company. At December 31, 2005 and 2004 the Company has accrued $1,390,958 and $1,050,000 in salaries payable to the officers, respectively. This amount is included in accrued salaries in the financial statements.

WorldWide-Exclusive Ltd.On October 12, 2004, the Company purchased WorldWide-Exclusive Ltd., (hereinafter, WorldWide), a privately held Canadian company. In consideration for all of the issued and outstanding common stock of WorldWide, the Company issued 30,000 shares of common stock with a fair market value of $6,900. The value of the stock was determined by the closing price on October 12, 2004.



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FIRSTBINGO.COM
(A DEVELOPMENT STAGE ENTERPRISE)
CONSOLIDATED NOTES TO THE FINANCIAL STATEMENTS
DECEMBER 31, 2005

The acquisition of WorldWide was accounted for using the purchase method of accounting. The purchase price was allocated to the tangible and intangible net assets acquired on the basis of management's evaluation of their respective fair values on the acquisition date as follows:

The net purchase price of WorldWide was $6,900. The Company assumed liabilities totaling $588.

The purchase price of $6,900 is allocated as follows:



|The purchase price of $6,900 was allocated as follows: |   |      
|------------------------------------------------------ | - | -----
|Cash                                                   | $ | 564  
|Accounts Payable                                       |   | (588)
|Goodwill                                               |   | 6,924
|                                                       | $ | 6,900

Upon acquisition, WorldWide became a wholly owned subsidiary of FirstBingo.com. The results of WorldWide's operations, commencing with the date of its acquisition, are included in the accompanying December 31, 2005 financial statements.





















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ITEM 8.     CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.

There have been no disagreements on accounting and financial disclosures from the January 1, 2002 of our company through the date of this Form 10-KSB. Our financial statements for the period from inception to December 31, 2005, included in this report have been audited by Williams and Webster, P.S., Independent Certified Public Accountants, Bank of America Financial Center, 601 West Riverside Avenue, Suite 1940, Spokane, Washington 99201, as set forth in their report included herein.

ITEM 8A.     CONTROLS AND PROCEDURES

(a)   Evaluation of Disclosure Controls and Procedures: Disclosure controls and procedures are designed to ensure that information required to be disclosed in the reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported, within the time period specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in the reports filed under the Exchange Act is accumulated and communicated to management, including the Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. As of the end of the period covered by this report, we carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures. Based upon and as of the date of that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures are effective to ensure that information required to be disclosed in the reports our files and submits under the Exchange Act is recorded, processed, summarized and reported as and when required.

(b)   Changes in Internal Control over Financial Reporting: There were no changes in our internal control over financial reporting identified in connection with our evaluation of these controls as of the end of the period covered by this report that could have affected those controls subsequent to the date of the evaluation referred to in the previous paragraph, including any correction action with regard to deficiencies and material weakness.

There were no changes in our internal controls or in other factors that could affect these controls subsequent to the date of their evaluation, including any deficiencies or material weaknesses of internal controls that would require corrective action.

ITEM 9.     DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT.

Each of our directors serves until his or her successor is elected and qualified. Each of our officers is elected by the board of directors to a term of one (1) year and serves until his or her successor is duly elected and qualified, or until he or she is removed from office. The board of directors has no nominating, auditing or compensation committees.





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|Name and Address                    | Age | Position(s)                                       
|----------------------------------- | --- | --------------------------------------------------
|Richard L. Wachter                  | 53  | President, Chief Financial Officer and a member of
|Times Square, Provo                 |     | the Board of Directors                            
|BWI, P. O. Box 663                  |     |                                                   
|Turks and Caicos Island             |     |                                                   
|                                    |     |                                                   
|Michael Kabin                       | 51  | Secretary, Chief Executive Officer and a member of
|Suite 1401 - 15 LaRose Avenue       |     | the Board of Directors                            
|Etobicoke, Ontario, Canada   M9P1A7 |     |                                                   

Mr. Wachter has held his office/position since February 2001 and Mr. Kabin was appointed on November 28, 2005. Messrs. Wachter and Kabin are expected to hold their offices/positions until the next annual meeting of our stockholders.

Background of Officers and Directors

Richard L. Wachter - President, Treasurer, Chief Financial Officer, and a member of the Board of Directors.

Since February 2001, Mr. Wachter has been our president, treasurer, chief financial officer and a member of the board of directors. Mr. Wachter has spent the last 23 years of his career in land and commercial real estate development. From June 1978 to July 1983, Mr. Wachter was the President of Future Care Ltd. located in Toronto, Ontario. Future Care Ltd. was engaged in the business of construction and development of retirement homes. From August 1984 to December 1995, Mr. Wachter was the C.E.O. and President of Wachfree Construction Ltd. and Provincial Nursing and Retirement Centres Ltd., both of which were located in Toronto, Ontario. Wachfree Construction Ltd. and Provincial Nursing and Retirement Centres Ltd. were respectively engaged in the development, management and operation of senior care facilities. In 1988 Mr. Wachter's executive abilities were recognized when he was nominated for entrepreneur of the year for Canada. Between 1992 to 1995 Mr. Wachter was designated in the Who's Who in Canadian Business as well as the international version of the Who's Who in 1994. Since May 1995, Mr. Wachter has been the President of The Bentley Group Ltd. located in the Turks and Caicos Island, British West Indies. The Bentley Group Ltd is engaged in the business of real estate and land development.

Michael Kabin - Secretary, Chief Executive Officer and a member of the Board of Directors.

On November 28, 2005, Mr. Kabin was elected as Secretary, Chief Executive Officer and a member of the Board of Directors of the Company.  Since November 2000, Mr. Kabin has been self-employed as a marketing consultant to Firstbingo.com, assisting the Company in its day-to-day operations.  Mr. Kabin is a graduate of the Haileybury School of Mines in 1976 and had successfully completed the Canadian Securities Course in 1984.

All of our officers and directors are engaged in other business. As such, they will not be devoting time exclusively to our operations. Mr. Wachter is engaged in other businesses.  As such he will devote approximately 20% of his time to the operation of our business. Mr. Kabin will devote approximately 95% of his time to the operation of our business.





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Involvement in Certain Legal Proceedings

To our knowledge, during the past five years, our officers and directors: have not filed a petition under the federal bankruptcy laws or any state insolvency law, nor had a receiver, fiscal agent or similar officer appointed by a court for the business or present of such a person, or any partnership in which he was a general partner at or within two years before the time of such filing, or any corporation or business association of which he was an executive officer within two years before the time of such filing; were not convicted in a criminal proceeding or named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses); were not the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him from or otherwise limiting the following activities: (i) acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, associated person of any of the foregoing, or as an investment advisor, underwriter, broker or dealer in securities, or as an affiliated person, director of any investment company, or engaging in or continuing any conduct or practice in connection with such activity; (ii) engaging in any type of business practice; (iii) engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of federal or state securities laws or federal commodity laws; were not the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal or state authority barring, suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described above under this Item, or to be associated with persons engaged in any such activity; were not found by a court of competent jurisdiction in a civil action or by the Securities and Exchange Commission to have violated any federal or state securities law and the judgment in subsequently reversed, suspended or vacate; and were not found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended or vacated.

Compliance with Section 16 (a) of the Exchange Act

Our officers, directors and owners of 10% or more of our outstanding shares of common stock have filed all reports required by section 16(a) of the Securities Exchange Act of 1934, as amended with exception of Michael Kabin, our secretary and director who failed to file his initial Form 3 that was due on November 28, 2005.  Mr. Kabin intends to file his Form 3 shortly.

Audit Committee and Charter

We have an audit committee and audit committee charter. Our audit committee is comprised of all of our officers and directors. None of directors are deemed independent. All directors also hold positions as our officers. A copy of our audit committee charter is filed as an exhibit to this report. Our audit committee is responsible for: (1) selection and oversight of our independent accountant; (2) establishing procedures for the receipt, retention and treatment of complaints regarding accounting, internal controls and auditing matters; (3) establishing procedures for the confidential, anonymous submission by our employees of concerns regarding accounting and auditing matters; (4) engaging outside advisors; and, (5) funding for the outside auditory and any outside advisors engagement by the audit committee.

Audit Committee Financial Expert

We have no financial expert. We believe the cost related to retaining a financial expert at this time is prohibitive. Further, because of our start-up operations, we believe the services of a financial expert are not warranted.

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Code of Ethics

We have adopted a corporate code of ethics. We believe our code of ethics is reasonably designed to deter wrongdoing and promote honest and ethical conduct; provide full, fair, accurate, timely and understandable disclosure in public reports; comply with applicable laws; ensure prompt internal reporting of code violations; and provide accountability for adherence to the code.

Disclosure Committee and Charter

We have a disclosure committee and disclosure committee charter. Our disclosure committee is comprised of all of our officers and directors. The purpose of the committee is to provide assistance to the Chief Executive Officer and the Chief Financial Officer in fulfilling their responsibilities regarding the identification and disclosure of material information about us and the accuracy, completeness and timeliness of our financial reports.

ITEM 10.     EXECUTIVE COMPENSATION

Summary Compensation

The following table sets forth the compensation paid by us from January 1, 2003 through December 31, 2005, for each or our officers. This information includes the dollar value of base salaries, bonus awards and number of stock options granted, and certain other compensation, if any.

Summary Compensation Table



|                              |      |                     | Long Term Compensation
|----------------------------- | ---- | ------------------- | ----------------------
|                              |      | Annual Compensation | Awards                
|                              |      |                     |                       
|                              |      |                     |                       
|                              |      |                     |                       
|Name and Principal            |      | Salary              | Bonus                 
|Position                      | Year | ($)                 | ($)                   
|Richard L. Wachter            | 2005 | 250,000             | 0                     
|Current President and         | 2004 | 250,000             | 0                     
|President in last fiscal year | 2003 | 250,000             | 0                     
|                              |      |                     |                       
|Michael Kabin                 | 2005 | 9,050               | 0                     
|Current Chief Executive       | 2004 | 0                   | 0                     
|Office, Secretary             | 2003 | 0                   | 0                     
|                              |      |                     |                       
|Thomas M. Sheppard            | 2005 | 90,950              | 0                     
|resigned 11/28/2005           | 2004 | 100,000             | 0                     
|                              | 2003 | 100,000             | 0                     

Compensation was accrued but none was paid to any individual in his capacity as an officer through December 31, 2005. All options have expired.

We anticipate paying the following salaries in 2006:



|Richard L. Wachter | President               | $ | 250,000
|------------------ | ----------------------- | - | -------
|Michael Kabin      | Chief Executive Officer | $ | 100,000

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Compensation of Directors

The following table sets forth the compensation paid by us from January 1, 2003 through December 31, 2005, for each or our directors. This information includes the dollar value of base salaries, bonus awards and number of stock options granted, and certain other compensation, if any.

Summary Compensation Table



|                                   |      |                     | Long Term Compensation
|---------------------------------- | ---- | ------------------- | ----------------------
|                                   |      | Annual Compensation | Awards                
|                                   |      |                     |                       
|                                   |      |                     |                       
|                                   |      |                     |                       
|Name and Principal                 |      | Salary              | Bonus                 
|Position                           | Year | ($)                 | ($)                   
|Richard L. Wachter                 | 2005 | 0                   | 0                     
|Current President, Chief Financial | 2004 | 0                   | 0                     
|Officer and member of board        | 2003 | 0                   | 0                     
|                                   |      |                     |                       
|Michael Kabin                      | 2005 | 0                   | 0                     
|Current Chief Executive Officer,   | 2004 | 0                   | 0                     
|Secretary and member of board      | 2003 | 0                   | 0                     
|                                   |      |                     |                       
|Thomas M. Sheppard                 | 2005 | 0                   | 0                     
|Chief Executive Officer            | 2004 | 0                   | 0                     
|(resigned)                         | 2003 | 0                   | 0                     

As of our 2005 accounting year end, our directors do not and will not receive any compensation for serving as members of the board of directors. Compensation will only be paid to individuals in their capacity as officers.

There are no other stock option plans, retirement, pension, or profit sharing plans for the benefit of our officers and directors other than as described herein.

Option/SAR Grants

There were no grants of stock options in 2005 and there are currently no stock options outstanding. All options have expired.

Long-Term Incentive Plan Awards

We do not have any long-term incentive plans that provide compensation intended to serve as incentive for performance.

Conflicts of Interest

At the present time, we do not foresee a direct conflict of interest. The only conflict that we foresee is our officers' and directors' devotion of time to projects that do not involve us.

Employment Contracts

We have no employment contracts with Messrs. Wachter or Kabin.

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Indemnification

Under our Bylaws, we may indemnify an officer or director who is made a party to any proceeding, including a law suit, because of his position, if he acted in good faith and in a manner he reasonably believed to be in our best interest. We may advance expenses incurred in defending a proceeding. To the extent that the officer or director is successful on the merits in a proceeding as to which he is to be indemnified, we must indemnify him against all expenses incurred, including attorney's fees. With respect to a derivative action, indemnity may be made only for expenses actually and reasonably incurred in defending the proceeding, and if the officer or director is judged liable, only by a court order. The indemnification is intended to be to the fullest extent permitted by the laws of the State of Nevada.

Regarding indemnification for liabilities arising under the Securities Act of 1933, which may be permitted to directors or officers under Nevada law, we are informed that, in the opinion of the Securities and Exchange Commission, indemnification is against public policy, as expressed in the Act and is, therefore, unenforceable.

ITEM 11.     SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

Security Ownership of Certain Beneficial Owners

The following table sets forth, as of December 31, 2005, the beneficial shareholdings of persons or entities holding five percent or more of the Company's common stock, each director individually, each named executive officer and all directors and officers of the Company as a group. Each person has sole voting and investment power with respect to the shares of Common Stock shown, and all ownership is of record and beneficial.



|Name and Address of                               | Number of Shares | Percentage of
|------------------------------------------------- | ---------------- | -------------
|Beneficial Owner                                  | Owned            | Shares Owned 
|Richard L. Wachter                                |                  |              
|Times Square, Provo                               |                  |              
|BWI, P.O. Box 663                                 |                  |              
|Turks and Caicos Island                           | -0-              | 0%           
|                                                  |                  |              
|Michael Kabin                                     |                  |              
|Suite 1401 - 15 LaRose Avenue                     |                  |              
|Etobicoke, Ontario, Canada   M9P 1A7              | -0-              | 0%           
|                                                  |                  |              
|All Officers and Directors as a Group (2 persons) | -0-              | 0%           

The persons named above may be deemed to be a "parent" and "promoter" of our company, within the meaning of such terms under the Securities Act of 1933, as amended, by virtue of his/its direct and indirect stock holdings.

Changes in Control

To the knowledge of management, there are no present arrangements or pledges of securities of the Company which may result in a change in control of the Company.



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ITEM 12.     CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

On April 13, 2000, we entered into an oral agreement with the law firm of Harris & Harris to hire Paul R. LeBreux as our president, secretary, treasurer, and chief executive officer in consideration of $50,000 payable quarterly in advance and options to acquire 2,000,000 shares of common stock at an excise price of $1.00 per share expiring December 31, 2001. Upon his resignation as an officer and director of FirstBingo, Mr. LeBreux surrendered his aforementioned 2,000,000 options in lieu of receiving 400,000 options at an excise price of $0.75 per share expiring December 31, 2001. The options were adjusted to 4,000 as a result of the 1 for 25 reverse stock split that occurred on December 31, 2001 and expired on the same day.

In 2000, we paid the law firm of Harris & Harris $107,000 in legal fees. Mr. LeBreux, our former president is a partner of Harris & Harris.

On March 21, 2000 we entered into a Debenture Agreement in favor of Ampang Investments Ltd. to secure a line of credit in the sum of US$750,000.00.

On September 21, 2000 we issued to Ampang Investments Ltd. 16,000,000 restricted shares of common stock for the following purposes:



|* | Consulting services related to the development and ongoing maintenance of the Internet Trivia Bingo game;
|- | ---------------------------------------------------------------------------------------------------------
|* | consulting services related to the development of the TV Trivia Bingo game show concept;                 
|* | consulting services related to the production of the TV Trivia Bingo game show pilot;                    
|* | design and invention of TV Trivia Bingo; marketing and advertising support; and                          
|* | investor relations and related services.                                                                 

On January 2, 2002, Ampang Investments Ltd. converted its debenture to 2,876,376 restricted shares of our common stock.

On July 15, 2003, we purchased all intellectual property and trademarks from Ampang Investment Ltd. for 24,000,000 shares of our common stock.

The foregoing number of shares reflects the issuance of three additional shares of common stock for each one share outstanding as a stock dividend payable to shareholders of record on November 14, 2003.

On November 28, 2005,  Thomas M. Sheppard resigned from his position of secretary, chief executive officer and a member of the board of directors.

On November 28, 2005, Michael Gerald Kabin was elected as secretary, chief executive officer and a member of the board of directors. He is to hold this office until the next annual proceedings or until his successor is duly elected or appointed, subject to our bylaws.

Certain consultants who received common stock options under our non-qualified stock option plan are also directors and stockholders. All options granted expired effective December 31, 2002. We also received uncollateralized advances from a related party to pay certain expenses. These unsecured advances bear no interest and are reflected in the financial statements as advances from shareholder.



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We received a total of $713,617 in cash funds from a related party in the form of an unsecured loan. This credit facility is a drawdown loan, with a maximum loan limit of $750,000. Interest is payable at 12% per annum, based upon the principal outstanding, and is due when the loan is called. In January 2002, the balance of the note was converted into 2,876,376 shares of stock, which approximates the value of the note and accrued interest at December 31, 2001. The shares were issued at a price of $1.00 per share, the fair market value of the shares on the date the shares were granted. As of December 31, 2005, 2004 and 2003, we received an additional $99,250 from this related party, and interest of $34,267 and $22,357 has been accrued and expensed, respectively. The balances are included in "notes payable - related party" and "accrued interest" in the accompanying financial statements.

This same entity in 2004 loaned an additional $200,000 to the Company in the form of two unsecured loans. Interest is payable at 12% per annum, commencing on March 28, 2005 and is due on demand when the loan is called. On May 25, 2005, loan principal and accrued interest of $3,814 was repaid.

Our president has from time to time paid various expenses on our behalf we plan to reimburse him at such time as it is able. During the year ended December 31, 2005, we repaid $10,780 of the outstanding amount. These expenses total approximately $65,000 and $75,000 at December 31, 2005 and 2004, respectively.

During the year ended December 31, 2003, our president loaned us $78,950 in the form of an unsecured loan. Interest is payable at 12% per annum, based upon the principal outstanding, and is due when the loan is called. During the year ended December 31, 2004, our president loaned an additional $9,787 under the same terms. As of December 31, 2005 and 2004, interest of $25,544 and $14,895 has been accrued and expensed, respectively.

In addition, we rented office space in 2003 from our chief executive officer on a month-to-month basis for CDN$1,000 (approximately US$750) plus miscellaneous expenses. From January to September 2004, the rent was CDN$500 (approximately US$410) We also owe this officer's legal firm approximately $6,700 in 2003 for consulting and legal fees.

PART IV

ITEM 13.     EXHIBITS AND REPORTS ON FORM 8-K.

Exhibits

The following Exhibits are incorporated herein by reference from the Registrant's Form 10SB Registration Statement filed with the Securities and Exchange Commission, SEC file #000-31289 on August 8, 2000. Such exhibits are incorporated herein by reference pursuant to Rule 12b-32:



|Exhibit No. | Document Description                                  
|----------- | ------------------------------------------------------
|            |                                                       
|3.1         | Articles of Incorporation.                            
|3.2         | Bylaws.                                               
|3.3         | Amended Articles of Incorporation - May 26, 1999      
|3.4         | Amended Articles of Incorporation - March 26, 1999    
|3.5         | Amended Articles of Incorporation - October 28, 1996  
|3.6         | Amended Articles of Incorporation - September 14, 1990
|4.1         | Specimen Stock Certificate                            

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The following Exhibits are incorporated herein by reference from the Registrant's Form 10-KSB Annual Report filed with the Securities and Exchange Commission, SEC file #000-31289 on April 12, 2001. Such exhibits are incorporated herein by reference pursuant to Rule 12b-32:



|10.1 | Debenture               
|---- | ------------------------
|10.2 | Stock Purchase Agreement

The following Exhibits are incorporated herein by reference from the Registrant's Form SB-2 Registration Statement filed with the Securities and Exchange Commission, SEC file #333-86466 on April 18, 2002. Such exhibits are incorporated herein by reference pursuant to Rule 12b-32:



|10.3 | Release and Reconveyance.
|---- | -------------------------
|10.4 | Demand Debenture.        
|10.5 | License with Tesauro S.A.
|99.1 | Subscription Agreement.  

The following exhibits are filed with this report:



|31.1 | Certification of Principal Executive Officer pursuant to Rule 13a-15 and Rule 15d-15(a), promulgated under the Securities and Exchange Act of 1934, as amended.
|---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------
|31.2 | Certification of Principal Financial Officer pursuant to Rule 13a-15 and Rule 15d-15(a), promulgated under the Securities and Exchange Act of 1934, as amended.
|32.1 | Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Chief Executive Officer).              
|32.2 | Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Chief Financial Officer).              

ITEM 14.     PRINCIPAL ACCOUNTING FEES AND SERVICES

Williams and Webster, P.S., Certified Public Accountants, are the Company's independent auditors to examine the financial statements of the Company for the fiscal year ending December 31, 2005. Williams & Webster, P.S. has performed the following services and has been paid the following fees for these fiscal years.

Audit Fees

Williams & Webster, P.S. was paid aggregate fees of approximately $14,333 for the fiscal year ended December 31, 2004 and approximately $10,365 for the fiscal year ended December 31, 2005 for professional services rendered for the audit of the Company's annual financial statements and for the reviews of the financial statements included in the Company's quarterly reports on Form 10-QSB during these fiscal years.

Audit-Related Fees

Williams & Webster P.S. was not paid additional fees for the fiscal year ended December 31, 2004 and December 31, 2005 for assurance and related services reasonably related to the performance of the audit or review of the Company's financial statements.



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Tax Fees

Williams & Webster, P.S. was not paid any aggregate fees for the fiscal year ended December 31, 2004 and for the fiscal year ended December 31, 2005 for professional services rendered for tax compliance, tax advice and tax planning. This service was not provided.

All Other Fees

Williams & Webster, P.S. was paid no other fees for professional services during the fiscal years ended December 31, 2004 and December 31, 2005.





























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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on this 16th day of May, 2006.



| | FIRSTBINGO.COM
| | --------------
| | (Registrant)  
| |               
| | BY:           
| |               
| |               
| | BY:           
| |               

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following person on behalf of the Registrant and in the capacities.



|Signatures         | Title                                         | Date        
|------------------ | --------------------------------------------- | ------------
|                   |                                               |             
|RICHARD L. WACHTER | President, Principal Financial Officer, and a | May 16, 2006
|Richard L. Wachter | member of the Board of Directors              |             
|                   |                                               |             
|MICHAEL KABIN      | Secretary, Principal Executive Officer and a  | May 16, 2006
|Michael Kabin      | member of the Board of Directors              |             





















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