CSFB upgrades...granted they have an interest. However, now that the market is turning, SCRM is well placed to meet its goals. I'm not the least bit worried about the decline in a thinly traded stock like this. I've been buying.
The pro forma net loss for the most recent quarter, which excludes $4.1 million in amortization of deferred stock compensation and $50.2 million of preferred shares deemed dividend, was $5.4 million, or a loss of $0.16 per share. This compares to a pro forma net loss in the second quarter of 2000 of $5.4 million (which excludes $5.2 million in amortization of deferred stock compensation), or a $0.22 loss per share, and in the third quarter of 1999, a $2.2 million, or a $0.13 loss per share. Pro forma weighted average number of shares used in computing pro forma net loss per share for the three months ended September 30, 2000, June 30, 2000, and September 30, 1999, were 34,552,660 shares, 24,121,414 shares, and 16,594,856 shares, respectively. Pro forma number of shares assumes a full conversion of the Series A and B preferred shares into ordinary shares for the period prior to the initial public offering, in which preferred shares were outstanding.
At September 30, 2000, ScreamingMedia had cash and cash equivalents of $108 million, or $2.85 per outstanding share. Assuming continued rapid growth, existing cash balances should take the Company beyond profitability, which it expects to achieve in early 2002. |
