Las Vegas From Home.com

Originally operating as Bronx Minerals Inc., a mineral exploration company, the organization changed its name to Las Vegas From Home.com Entertainment Inc. (LVFH) in late 1999 and restructured to become a provider of e-gaming software. The company still held interests in mineral properties until writing-off its remaining title in 2003.

The company and its wholly-owned subsidiary, Action Poker Gaming Inc. (Action), develop and market software for online multi-player interactive card games. LVFH’s gaming and entertainment operations are carried out through Action, who hosts the company’s gaming software and makes it accessible to the general public. The subsidiary does not participate in any actual card games but collects its revenues from charging ‘rakes’, or commissions for its hosting duties, licencing fees and royalties. As another revenue stream Action also licences LVFH’s gaming software to at least 23 third parties, allowing them to provide their customers with an online gaming experience of Las Vegas-style poker in real time, for real money against real people from around the world.

Action is the owner and operator of several gaming URLs including www.TigerGaming.com, LVFH’s flagship online poker site, which it intends to develop as the premier e-gaming destination on the Internet. LVFH has already begun an aggressive marketing campaign for www.TigerGaming.com and during the last half of 2004 the company started to see an increase in traffic to the website.

In April 2005, as part of the marketing campaign, the company held a promotion through its website whereby five players won the opportunity to play at the World Poker Tour world poker championship, which was held in Las Vegas. Two of the five participants walked away with a total of US$85,000.

Since 1995 the company has incurred significant operating losses both as Bronx Minerals and LVFH. Consequently, management has been directing its efforts at increasing LVFH’s revenues and is pursuing marketing opportunities and software upgrades that would assist the company to raise capital to fund further business development. Although LVFH recorded a net loss of approximately $3.5 million for the fourth quarter of fiscal 2004, the company started to realize a positive turnaround in its revenues, which management attributed to the increased usage of LVFH’s gaming software. Continuing on this upward trend, the company also showed significant improvement in revenues during the three months ended March 31, 2005. For the first quarter, LVFH’s revenues of approximately $2.1 million were a 653% increase over the same period for 2004 and are a 94% improvement over the approximate $1.1 million in revenues for the fourth quarter of 2004.

During fiscal 2004, the company closed two private placements with a related company, Bronx Ventures Inc. (BRXVF:OTCBB), for a total of 4 million common shares at prices of $0.30 and $0.32 per share for net proceeds of approximately $1.2 million. Bronx shares office space with LVFH and is related by common management, directors and officers. The company’s president and CFO currently own approximately 47% of the shares in Bronx. In addition, on December 13, 2004, LVFH entered into another nonbrokered private placement to issue 5 million units at $0.20 per unit. All 5 million units were issued by January 11, 2005 for total gross proceeds of $1 million. Of these 5 million units Bronx acquired approximately 1.3 million. Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to purchase one common share and is exercisable at a price of $0.25 per share for a period of 24 months up to January 7, 2007.

During the three months ended March 31, 2005, the company issued approximately 1.7 million common shares to directors, employees and consultants as a result of the exercising of stock options at prices ranging from $0.12 and $0.19 per common share for total proceeds of approximately $310,000. In addition, during the quarter, LVFH issued approximately 2 million common shares to various warrants holders as a result of warrants being exercised at prices ranging between $0.10 and $0.25 per common share for total proceeds of $343,000.

On May 13, 2005, the company closed a bought-deal private placement of approximately 12.5 million subscription receipts at a price of $0.65 per receipt, for total gross proceeds of $8.1 million. Each receipt converts to one common share of LVFH and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at a price of $1.00 for 24 months following the closing of the offering. The proceeds from the financing will be used to increase the company’s sales and marketing campaign and to help expand LVFH’s overall growth strategy. In an effort to continue meeting its funding requirements for faster growth, the company expects to conduct future private placements and public offerings in order to build capital and to manage debt financing.