I have last years balance sheet ending Jan. 31 1998... These numbers only show Health Club and video rental and sales for Grizzly Mountain: They are as follows:
revenues 1998 3 months 1997 3 months
Memberships $864,673 $ 890,423
sevices 96,110 13,306
Ent/video sales/net 322,155 0
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total revenue $1,282,938 $903,729
less expense $1,706,249 $1,104,463
total loss ($423,311) ($200,734)
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revenues 1998 9months 1997 9months
memberships $ 2,821,640 $2,181,115
services $ 271,550 $ 53,609
Ent/video sales/net $ 322,155 0
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toal revenue $ 3,415,345 $ 2,234,814
less expenses $ 4,343,154 $ 3,054,696
total loss ($ 957,809) ($819,882)
in Canadian dollars
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Most of the expenses come as legal and accounting fees , salary to run the health clubs , and other fees not specified in the report that dramatically increased after the aquisition of Mega Communications in the 9 months ending.... As you can see just in the Net Video sales in the 3 and 9 month ending period , the NET was $322,155 for 1 movie....So lets just imagine at the end of 1999 when there is about 6 new releases generating income....That will be a more realistic financial statement ... So look to Sept. 1999 for REAL #'s and gains!
Also , let the record reflect , that Golan and Globus are only going to take salary's from the NET profits of their movies , that was one of their agreements with Mr. Benz at the beginning.. I hope that this info was helpful.... If you want a completed version of the consolidated statement of revenues call Rubenstein I/R @ (212)843-8086 contact is Jeffrey Volk or e-mail him jvolk@rir1.com(I don't know if that e-mail address is current)
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