Seaniemac International Ltd (fka BETS)

[dazytek12]

We are still waiting for an outside audit firm to complete its audit of our Irish partner and provide it to our US auditors so we can file our audited 10-K and then quarterly 10-Q. We expect that process to be completed soon. Our US auditors have been paid in advance for the 10-K process. We do not expect any material difference from our previously reported guidance on the 4th quarter.

While our gross profit would cover our fixed overhead without investment in future growth or accrued liabilities we continue to rely on short term equity and debt financing to fund our growth plans and retire outstanding liabilities from our launch. As a result we have drawn down approximately $200,000 in funding in the first quarter.

We do not currently have commitments for the funding we want for our 2014 budget and while we are in active discussions there is no assurance we will get funding which would have a material negative effect on our business.