Bingo Nation Inc. (fka BLTO)

[236T568]

"Other than the financing provided by our Chief Operating Officer, all funds raised to date have come from only one investor, Lexington Ridge Holdings Inc. (“Lexington”). At March 31, 2015, the balance owing to Lexington is $443,754. These funds were used primarily for the construction of improvements on the subleased property and operating expenses. The convertible notes accrue interest at a rate of 5% per annum and can be converted at the option of the debt holder at any time into common shares of the Company at a rate of $0.001 per share. This means with a current convertible debt of $443,754, Lexington could potentially convert this debt into 443,754,000 common shares of the company. As of March 31, 2015, Lexington had not converted any debt into shares. However, during the 12 months ended March 31, 2105, Lexington had assigned $64,500 of debt to others who elected to convert their debt into 64,500,000 common shares of the Company. Attached to this Annual Report as Exhibit 10-4 is a copy of the most recent convertible debt agreement between Lexington and the Company. A prior convertible debt agreement between Lexington and the Company had identical terms and conditions."


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