The numbers in fixed font:
STARBASE CORP.
Balance Sheets
(In thousands, except share data)
March 31, March 31,
2000 1999
Assets
Current assets:
Cash and cash equivalents $ 11,448 $ 1,363
Restricted cash 39 39
Marketable securities 11 121
Accounts receivable, net of allowances
of $202 (2000) and $155 (1999) 6,696 2,528
Notes and other receivables, net
of allowance of $707 (2000) 26 9
Prepaid expenses and other assets 568 265
Total current assets 18,788 4,325
Property and equipment, net 1,526 987
Intangible assets, net 21,074 971
Note receivable from officer 99 94
Long-term restricted cash 39 79
Other non-current assets 687 149
Total assets $ 42,213 $ 6,605
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ 1,358 $ 640
Accrued compensation 1,475 493
Other accrued liabilities 390 131
Deferred revenue 4,017 658
Current portion of long-term obligations 119 95
Total current liabilities 7,359 2,017
Long-term liabilities:
Long-term obligations, less current portion 49 116
Long-term deferred revenue 535 --
Other long-term liabilities -- 10
Total long-term liabilities 584 126
Total liabilities 7,943 2,143
Commitments and contingencies
Stockholders' equity:
Preferred stock, $.01 par value;
10,000,000 shares authorized, 0 and
558,993 shares issued and
outstanding at March 31, 2000
and 1999; liquidation preference
of $0 (March 31, 2000) and $4,916
(March 31, 1999) -- 6
Common stock, $.01 par value;
80,000,000 shares authorized,
44,315,610 and 28,636,362 issued
and outstanding at March 31, 2000 and 1999. 443 286
Additional paid-in capital 92,242 56,208
Accumulated deficit (58,305) (52,038)
Accumulated other comprehensive loss (110) --
Net stockholders' equity 34,270 4,462
Total liabilities and stockholders' equity $ 42,213 $ 6,605
The accompanying notes are an integral part of the financial
statements.
STARBASE CORP.
Statements of Operations
(In thousands, except per-share amounts)
Three months ended Year ended
March 31, March 31,
2000 1999 2000 1999
(Unaudited)
Revenues:
License $ 5,013 $ 1,847 $14,486 $ 5,964
Service 1,180 315 3,046 868
Total revenues 6,193 2,162 17,532 6,832
Cost of Revenues:
License 206 60 1,136 508
Service 565 -- 1,480 --
Total cost of revenues 771 60 2,616 508
Gross margin 5,422 2,102 14,916 6,324
Operating Expenses:
Research and development 1,477 1,276 4,552 4,437
Sales and marketing 3,308 2,047 9,097 7,638
General and
administrative 1,362 546 4,527 2,963
Amortization of
intangibles 2,358 -- 2,507 --
Total operating
expenses 8,505 3,869 20,683 15,038
Operating loss (3,083) (1,767) (5,767) (8,714)
Interest and other
income (loss) 211 (5) 300 32
Equity in loss of investee -- -- (250) --
Loss before income taxes (2,872) (1,772) (5,717) (8,682)
Provision for income taxes -- 3 1 1
Net loss (2,872) (1,775) (5,718) (8,683)
Non-cash dividend and
accretion of beneficial
conversion feature -- 860 549 1,277
Net loss applicable
to common stockholders $(2,872) $(2,635) $(6,267) $(9,960)
Per share data:
Basic and diluted net
loss per common share $ (0.07) $ (0.10) $ (0.19) $ (0.49)
Basic and diluted
weighted average common
shares outstanding 41,126 25,769 33,412 20,526
The accompanying notes are an integral part of the financial
statements. |
