Consolidated Statements of Operations
Look back at Q1 numbers here... #reply-9240809
1999 vs 1998 Comparisons
Three Three Six Six
months months months months
ended ended ended ended
June 30, June 30, June 30, June 30,
1999 1998 1999 1998
-------- --------- ------- --------
Revenues $1,302,117 $217,625 $2,055,644 $498,294
Cost of revenues 272,756 16,037 380,803 34,637
---------- ---------- ---------- ----------
Gross profit 1,029,361 201,588 1,674,841 463,657
Operating expenses:
Marketing and sales 1,370,480 420,965 2,312,422 1,213,499
Research, development
& engineering 852,186 1,252,689 1,789,004 2,896,745
General &
administrative 1,638,385 1,209,657 2,985,323 2,230,721
Merger integration
& restructure --- 812,166 1,025,000 812,166
---------- ---------- ---------- ----------
Total operating
expenses 3,861,051 3,695,477 8,111,749 7,153,131
---------- ---------- ---------- ----------
EBITDA (2,831,690) (3,493,889) (6,436,908)(6,689,474)
Depreciation
& amortization 3,401,564 440,812 6,815,048 840,075
---------- ---------- ---------- ----------
Loss from operations (6,233,254) (3,934,701) (13,251,956)(7,529,549)
Interest income, net 81,083 (26,209) 96,202 (8,497)
---------- ---------- ---------- ----------
Net loss (6,152,171) (3,960,910) (13,155,754)(7,538,046)
Preferred stock
dividend --- (65,624) --- (153,126)
---------- ---------- ---------- ----------
Net loss applicable
to common shares $(6,152,171)$(4,026,534) $(13,155,754)$(7,691,172)
---------- ---------- ---------- ----------
---------- ---------- ---------- ----------
Net loss per share,
basic and diluted $(0.14) $(0.32) $(0.31) $(0.69)
Shares used in per share
computation, basic
and diluted 43,971,636 12,763,183 42,286,890 11,183,418
1999 Quarterly Comparisons
Three months ended Three months ended
March 31, 1999 June 30, 1999
-------------- -------------
Revenues $ 753,527 $ 1,302,117
Cost of revenues 108,047 272,756
------------ -----------
Gross profit 645,480 1,029,361
Operating expenses:
Marketing and sales 941,942 1,370,480
Research, development
& engineering 936,818 852,186
General & administrative 1,346,938 1,638,385
Merger integration
and restructure 1,025,000 ---
------------ -----------
Total operating expenses 4,250,698 3,861,051
------------ -----------
EBITDA (3,605,218) (2,831,690)
Depreciation &
amortization 3,413,484 3,401,564
------------ -----------
Loss from operations (7,018,702) (6,233,254)
Interest income, net 15,119 81,083
------------ -----------
Net loss $ (7,003,583) $ (6,152,171)
Net loss per share,
basic and diluted $ (0.17) $ (0.14)
Shares used in per share
computation,
basic and diluted 40,583,425 43,971,636
MessageMedia, Inc.
Consolidated Balance Sheets
June 30, 1999 December 31, 1998
---------------- --------------
(unaudited)
Assets
Current assets:
Cash and cash
equivalent $ 10,112,132 $ 4,659,375
Accounts receivable, net 947,303 680,927
Prepaid expenses
and other 409,046 429,963
------------ -----------
Total current assets 11,468,481 5,770,265
Furniture equipment and
software, net 1,225,095 1,475,720
Organization and
other costs, net 26,642 50,835
Intangibles 17,661,312 23,894,715
Deposits and other 27,000 29,446
------------ -----------
Total assets $ 30,408,530 $ 31,220,981
------------ -----------
------------ -----------
Liabilities and stockholders' equity
Current liabilities:
Accounts payable $ 642,506 $ 1,383,197
Accrued compensation
and related liabilities 217,553 148,419
Accrued interest --- 15,226
Deferred revenue --- 36,000
Current portion,
debt obligations 17,038 503,990
Merger integration and
relocation accrual 378,345 ---
Other accrued
liabilities 791,615 583,770
------------ -----------
Total current liabilities 2,047,057 2,670,602
Debt obligations 6,935 66,869
Total stockholders'
equity 28,354,538 28,483,510
------------ -----------
Total liabilities
and stockholders'equity $ 30,408,530 $ 31,220,981
------------ -----------
------------ -----------
--------------------------------------------------------------------------------
Contact:
MessageMedia Inc.
Larry Jones, President and Chief Executive Officer
303/381-7141
ljones@messagemedia.com
or
Beth Mayfield, 303/381-7500
investor@messagemedia.com
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