November 16, 1998
JVWEB INC (JVWB)
Quarterly Report (SEC form 10QSB)
MANAGEMENT DISCUSSION AND ANALYSIS
The period ending September 30, 1998 was one of continued development of the Company's
business model. The Company maintains, on an on-going basis, active efforts in pursuing its dual
growth strategy: 1) having a strong fee for service division, and 2) establishing joint ventures with
proven brands.
In its fee for service division, the company is establishing the core technical resources required to be
a Strategic Internet Services Company. In the joint venture division, the Company continues to
evaluate branding opportunities to partner up with.
The revenues for the quarter , reported as $16,315, were consulting fee revenues that are one-time
fees.
The material elements of the general and administrative expenses for the quarter of $195,596 were:
1) common stock issued for services, $33,943, 2) the write-off due to the termination of discussions
on the acquisition of the Whispers newsletter, $55,000, and 3) general operating expenditures of
$84,113. The Company has reduced operating expenditures significantly in the present quarter in
response to the termination of the Wall Street Whispers acquisition discussed below.
On July 31, 1998, the Company entered into an Asset Purchase Agreement (the "Agreement") to
acquire all of the assets (collectively, the "Assets") comprising a financial publication know as "Wall
Street Whispers" (the "Publication"). The Agreement provided for periodic installment payments on
the purchase price for the Assets and that title to the Assets would be transferred to the Company
upon full payment of the purchase price. Subsequent to the execution of the Agreement, the decline
in the stock market during August 1998, the subsequent stock market volatility and the Company's
concerns related to the overall financing of the transaction, raised serious doubts as to the desirability
of consummating the acquisition of the Publication. After the extension of the closing date for the
acquisition and sale of the Assets twice, and after an exhaustive analysis of this acquisition and the
consideration of several additional acquisition opportunities, the Company proposed to the sellers of
the Assets that they mutually terminate the proposed sale and acquisition of the Publication. On
October 30, 1998, the Company and such sellers executed a termination agreement and mutual
releases, mutually terminating the proposed sale and acquisition. Consistent with the terms of the
Agreement, the sellers were permitted to retain all prior payments on the purchase price for the
Assets, which totaled $55,000.
Recent Filings: Jun 1998 (Qtrly Rpt) | Sep 1998 (Annual Rpt) | Nov 1998 (Qtrly Rpt)
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