Amazing,! Too bad we are in a horrible temporary bear market and (especially a massive sell off of the small high tech caps) otherwise AMEN would be in the $12-$13 range by now! This temporary bear market should hopefully end by the end of third quarter. I just bought a whole bunch more shares at $2 5/8 and will buy for any other significant slide. Companies such as this that are playing a niche market as well as a few other small internet security providers seem to be out of favor at this time due to the overall short lived bear market (and especially in the small caps). But once the mood is back these stocks will by high flyers.
Anyway look at the earnings report and judge for yourself!
For the quarter ending June 30, 1998, the Company reported revenue of $166,309, which is an 85% increase over this year's first quarter results and a 59% increase over last year's comparable period. In the first half of 1998, DIDAX had revenue of $256,112, which is 29% more than a year ago. William Parker, Chief Executive Officer and President of DIDAX, since April of 1998, said that the Company has completed its restructuring during the quarter and is now poised to focus on accelerated revenue growth, marketing and driving traffic to its award winning sites. ''The opportunities to serve the Christian niche on the Internet are enormous and sponsors and advertisers are quickly taking notice and becoming part of the community on CCN. The effectiveness of the Company's continued transition from being a web development company to that of being a community builder is evidenced by the sizable growth in community membership and a more than tenfold year on year increase in revenue associated with community building content, services and products, led by the sale of Christian music from gofishnet.com which has quadrupled compared to last year.''
DIDAX recorded a net loss for the second quarter of 1998 of $747,598 or $.20 per share, compared with a net loss of $896,493 or $1.27 per share in the second quarter of 1997. In the first half of 1998 the net loss was approximately $1.5 million or $.44 per share, as compared to a $1.4 million or $2.01 per share loss in the first six months of 1997.
OPERATING RESULTS
CCN's growth is confirmed by the doubling in membership since the beginning of the year, to just over 100,000 members at June month end. DIDAX has also experienced year on year growth of 385% in advertising impressions to an average of 2,368,000 per month in the quarter. New offerings to CCN members and visitors in the second quarter of 1998 included the launch of the Women's channel, upgraded navigation tools, and expanded chat events and retail products. In the quarter, a strategic alliance was begun with CareerMosaic(R) that provides CCN visitors and members with direct access to the #1 career resource on the Internet, and the Company, through gofishnet.com, it's online Christian music retailer, agreed to be the headline sponsor of the SkaMania '98 Concert Tour produced by Jam Productions.
The Wall Street Journal's July 23, 1998 edition included CCN Radio as an example of Internet radio making waves. USA Today and several Website rating services have recognized CCN, including The Mining Company (www.theminingco.com) who awarded CCN Events and gofishnet, the #1 and #2 ''Christian Music Websites'' on the Internet, respectively and Best of the Christian Web (www.botcw.org) who awarded CCN as the ''1997 Christian Website of the Year''. These are examples of the substantive recognition from external sources which are testimonial to the value of CCN at this young stage.
Regards,
Addi Jamshidi |
