CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)
Nine Months Ended September 30, 2003
(in thousands, except share data)
Total
Number of Common Additional Deferred Accumulated Stockholders'
Common Shares Stock Paid-in Capital Compensation Deficit Equity (Deficit)
------------- ----- --------------- ------------ ------- ----------------
Balances at December 31, 2002 5,058,484 $ 152 $ 93,804 $ -- $(101,450) $ (7,494)
Shares issued under the Employee
Stock Purchase Plan 8,515 -- 2 -- -- 2
Stock bonuses issued in lieu of
cash to employees, vendors and 5,929,381 178 3,477 -- -- 3,655
consultants
Shares issued through private 28,333,333 850 11,650 -- -- 12,500
placement
Shares issued upon conversion of
debentures, accrued interest and
delayed registration penalties 82,867,423 2,486 5,689 -- -- 8,175
Shares issued upon exercise of
warrants and options 13,669,258 410 4,067 -- -- 4,477
Costs for issuance of convertible
notes, debentures and private -- -- (678) -- -- (678)
placements
Fair value of warrants and
beneficial conversion feature
granted in conjunction with -- -- 2,236 -- -- 2,236
issuance of convertible debentures
Write off of beneficial conversion
feature and deferred offering
costs upon conversion of notes -- -- (289) -- -- (289)
and debentures
Repurchase of beneficial conversion -- -- (128) -- -- (128)
feature
Dividend requirements of
mandatorily redeemable Series A -- -- (90) -- -- (90)
preferred stock
Compensation relating to granting
of stock options -- -- 3,828 (24) -- 3,804
Amortization of deferred -- -- -- 3 -- 3
compensation
Net loss -- -- -- -- (21,490) (21,490)
----------- ------ --------- ---- --------- --------
Balances at September 30, 2003 135,866,394 $4,076 $ 123,568 $(21) $(122,940) $ 4,683
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See accompanying notes to consolidated financial statements. |
