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Technology Stocks : Data Race (NASDAQ: RACE) NEWS! 2 voice/data/fax: ONE LINE!
RACE 336.33+0.9%3:59 PM EST
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To: BishopsChild who wrote (27707)2/6/1998 2:01:00 AM
From: Kashish King  Read Replies (1) of 33268
 
Keep in mind, I'm not the only one with a bearish outlook:

1) Total revenue for the three months ended December 31, 1997 decreased 64%.

2) Revenue for the six months ended December 31, 1997 decreased 78%.

3) Gross profit margin wa down from 28% and 22% from the comparable periods of the prior fiscal year.

4) Sales and marketing expenses for the three and six months ended December 31, 1997 increased 51% and 32% respectively from the comparable periods of the prior fiscal year.

5) General and administrative expenses for the three months ended December 31, 1997 decreased 10% to $580,000 from $646,000 from the comparable period of the prior fiscal year. This decrease was primarily attributable to decrease in legal expenditures associated with the class action shareholder lawsuit.

6) Income tax benefits related to the losses for the three and six months ended December 31, 1997 were not recognized because the utilization of such benefits is not assured.

7) Operating losses have had and continue to have a substantial negative effect on the Company's cash balance.

8) Remote access system, are highly dependent on existing cash, final settlement of the shareholder lawsuit, and the Company's return to profitability. The timing and amount of the Company's future capital requirements can not be accurately predicted.

9) The Company does not anticipate a return to profitability as long as its expenditures on the Be There! system remain disproportionate to attendant revenue.

10) The Company may in the future require additional financing; the failure to obtain such financing when needed would have a material adverse effect on the Company.
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