Exhibit 99.3 Form 6k -LVH November 29_ 2007
Symbols: LVH .TSX Venture Exchange
LVFHF.OTC Bulletin Board
LVH. Berlin & Frankfurt Stock Exchanges
Las Vegas From Home.com Entertainment Reports Third Quarter 2007 Results
Vancouver, British Columbia,November29, 2007–Las Vegas From Home.com Entertainment Inc. (the “Company”) or (“LVFH”) today announced results from operations for the three and nine months ended September 30, 2007.
All financial figures are in Canadian dollars.
Q3 Progress
As a result of the recent legislative developments in the North American market and the significant potential in the Asian market, the company has focused its strategic efforts on developing a multi-player gaming platform targeted at the Asian market. The Company has turned its focus towards developing specific products for specialized markets.
The third quarter of 2007 was a building period where the Company continued to develop and build upon its core product, as well as strengthening its position to try and take advantage of certain business opportunities in Asia. President and CEO Jake Kalpakian states, “While our Q3 numbers were impacted by such factors like the strengthening Canadian dollar, the Company made considerable progress building upon its core software product and progressing towards a couple of different unique business opportunities.
The Company incurred a loss of $1,182,671 as compared to a loss of $1,641,628 in Q2 2007 and a loss of $1,026,289 for the comparative quarter in 2006.
Mr. Kalpakian continues, “The progress we made this quarter building our product and advancing certain relationships should hopefully bode well for the future. We have continued to build a stronger foundation both in terms of product and relationships which we believe will serve the Company’s best interests in the not so distant future.
Revenues
The Company’s third quarter generated revenue from continuing operations for the three month period ended September 30, 2007 was $292,973, as compared to $126,428 in the second quarter of 2007. Revenue from continuing operations for the year ago period was $nil due to the sale of the APGN and the re-classification of the APGN operations to discontinued operations.
Interest income in Q3 was $73,870 as compared to $81,678 in Q2 and $10,375 for the comparative quarter in 2006.
LAS VEGAS FROM HOME.COM ENTERTAINMENT INC.
Consolidated Statements of Operations and Deficit
Nine Months Ended September 30
(Canadian Dollars)
| Three Months Ended | Nine Months Ended | |||||||||||
| September 30 | September 30 | |||||||||||
| 2007 | 2006 | 2007 | 2006 | |||||||||
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| (unaudited) |
| (unaudited) |
| (unaudited) |
| (unaudited) | |||||
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REVENUES | $ | 292,973 | $ | 0 | $ | 1,337,764 | $ | 0 | |||||
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OPERATING EXPENSES |
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Sales & Marketing |
| 88,340 |
| 58,470 |
| 318,230 |
| 341,044 | |||||
General & Administrative |
| 256,519 |
| 288,675 |
| 942,431 |
| 944,837 | |||||
Research, Development & Support |
| 565,753 |
| 605,083 |
| 1,926,054 |
| 1,605,151 | |||||
|
| 910,612 |
| 952,228 |
| 3,186,715 |
| 2,891,032 | |||||
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EARNINGS BEFORE INTEREST, TAXES, AND AMORTIZATION |
| (617,639) |
| (952,228) |
| (1,848,951) |
| (2,891,032) | |||||
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Amortization |
| 68,231 |
| 365,982 |
| 196,073 |
| 663,650 | |||||
Stock based compensation |
| 219,204 |
| 13,852 |
| 655,786 |
| 97,271 | |||||
Bank charges, interest and foreign |
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exchange |
| 352,155 |
| 4,248 |
| 865,507 |
| 90,150 | |||||
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LOSS BEFORE OTHER ITEMS |
| (1,257,229) |
| (1,336,310) |
| (3,566,317) |
| (3,742,103) | |||||
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Other items |
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Interest income |
| 73,870 |
| 10,375 |
| 238,919 |
| 37,307 | |||||
Gain on settlement of debt |
| 688 |
| 0 |
| 142,793 |
| 0 | |||||
Write up/(down) of marketable securities |
| 0 |
| (37,086) |
| 0 |
| (78,213) | |||||
|
| 74,558 |
| (26,711) |
| 381,712 |
| (40,906) | |||||
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NET LOSS BEFORE |
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DISCONTINUED OPERATIONS |
| (1,182,671) |
| (1,363,021) |
| (3,184,605) |
| (3,783,009) | |||||
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Earnings from discontinued operations |
| 0 |
| 336,732 |
| 0 |
| 2,218,347 | |||||
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NET LOSS FOR THE PERIOD |
| (1,182,671) |
| (1,026,289) |
| (3,184,605) |
| (1,564,662) | |||||
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Deficit, beginning of period |
| (25,373,756) |
| (19,316,767) |
| (23,371,822) |
| (18,778,394) | |||||
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Deficit, end of period |
| (26,556,427) |
| (20,343,056) |
| (26,556,427) |
| (20,343,056) | |||||
Weighted average number of |
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shares |
| 101,427,887 |
| 97,211,825 |
| 101,427,887 |
| 97,211,825 | |||||
Net and fully diluted loss |
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per common share |
| (0.01) |
| (0.01) |
| (0.03) |
| (0.02) |
LVFH’s financial statements for the quarter ended September 30, 2007 are available on SEDAR atwww.sedar.com.
Outlook
Going forward, the Company will continue to concentrate on the further development of its software by adding new games and features, and licensing its Asian Multiplayer Software Platform (“AMSP”) to third parties as well as exploring other different yet related business structures and opportunities.
About Las Vegas From Home.Com Entertainment Inc.
The principal business of the Company and its Antiguan subsidiary, MT Ventures Inc. (“MTV”) is the development and marketing of software for on-line multi-player interactive games. The gaming and entertainment operations are carried on by MTV. The principal revenues of MTV are from licensing fees and royalties.
For more Information on the Company, please contact us at (604) 681-0204, or visit our Website atwww.lvfh.com .
On behalf of the Board of
Las Vegas From Home.com Entertainment Inc.
“Jacob H. Kalpakian”
_____________________________
Jacob H. Kalpakian,
President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This release does not constitute an offer for sale of securities in the United States.
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement in this release containing words such as "believes,” "plans," "expects" or "intends" and other statements that are not historical facts are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.
LAS VEGAS FROM HOME.COM ENTERTAINMENT INC.
Suite 100, 1255 West Pender Street,
Vancouver, British Columbia V6E 2V1
Tel: (604) 681-0204
Fax: (604) 681-9428
Email:Info@lvfh.com
Website:www.lvfh.com