The debentures have been converted to common. From the company's 5/17/99 10-Q for the same quarter; say's now 38 million shares O/S instead of 20 million per market guide 6/4/99. If the book value was $1.33 w/20 million O/S; it should now be approximately $.68 w/38 million O/S.
Also note the $9.5 million in revenue for the quarter.This of course still does not take into account the growth potential of the AOL deal. I was buying today.
********************************************************************* <PERIOD-START> JAN-01-1999 <PERIOD-END> MAR-31-1999 <CASH> 485,000 <SECURITIES> 0 <RECEIVABLES> 8,261,000 <ALLOWANCES> 0 <INVENTORY> 11,666,000 <CURRENT-ASSETS> 25,349,000 <PP&E> 4,847,000 <DEPRECIATION> 0 <TOTAL-ASSETS> 39,350,000 <CURRENT-LIABILITIES> 27,845,000 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 38,513,000 <OTHER-SE> (29,354,000) <TOTAL-LIABILITY-AND-EQUITY> 39,350,000 <SALES> 9,485,000 <TOTAL-REVENUES> 9,485,000 <CGS> 4,768,000 <TOTAL-COSTS> 4,768,000 <OTHER-EXPENSES> (118,000) <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 633,000 <INCOME-PRETAX> (2,256,000) <INCOME-TAX> 21,000 <INCOME-CONTINUING> (2,277,000) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (2,277,000) <EPS-PRIMARY> (.09) <EPS-DILUTED> (.09)
</TABLE> </TEXT> </DOCUMENT> </SEC-DOCUMENT> -----END PRIVACY-ENHANCED MESSAGE----- |