[GNET 1Q results - table]
Go2Net, Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
Three Months Ended
December 31, 1998 December 31, 1997
Revenue $3,179,744 $1,109,889
Cost of revenue 754,462 348,604
Gross Profit 2,425,282 761,285
Operating expenses:
Sales and marketing 933,057 444,995
Product development 400,526 302,239
General and
administrative 901,616 376,205
Merger related costs 650,257 --
Stock compensation expense 70,947 35,474
Total operating expenses 2,956,403 1,158,913
Loss from operations (531,121) (397,628)
Interest income, net 115,772 124,905
Net loss $(415,349) $(272,723)
Basic and diluted
net loss per share $(0.07) $(0.04)
Shares used in computing
basic and diluted
net loss per share 6,312,577 6,070,702
Diluted pro forma income/
(loss) per share before
nonrecurring and
non cash charges $0.04 $(0.04)
Shares used in computing
diluted pro forma
income/(loss) per share 7,259,476 6,109,245
Note: The balances as of September 30, 1998 have been restated to
reflect the merger of Go2Net Inc. and Web21, Inc. which was
completed on December 31, 1998 and has been accounted for as a
pooling of interests.
Go2Net, Inc.
Reconciliation of Pro Forma Income to Net Loss
(Unaudited)
Three Months Ended
December 31, 1998 December 31, 1997
Pro forma income/(loss),
excluding merger
and other related charges $305,855 $(237,250)
Merger related charges 650,257 --
Stock compensation expenses 70,947 35,474
Net loss $(415,349) $(272,723)
Go2Net, Inc.
Condensed Consolidated Balance Sheets
December 31, 1998 September 30, 1998
Assets
Current assets:
Cash and cash equivalents $1,181,029 $941,351
Marketable securities 7,794,248 7,944,249
Receivables, net 1,801,812 1,402,341
Prepaid expenses and other assets 487,710 493,916
Total current assets 11,264,799 10,781,857
Property and equipment, net 1,231,256 1,315,168
Other assets 222,954 135,164
Long-term investments 249,983 -
Deposits 253,017 303,017
Total assets $13,222,009 $12,535,206
Liabilities and stockholders' equity
Current liabilities:
Accounts payable
and accrued expenses $1,355,583 $770,387
Accrued compensation
and benefits 340,610 269,240
Short term debt 52,344 90,616
Deferred revenue 683,868 503,798
Total current liabilities 2,432,405 1,634,041
Commitments -- --
Stockholders' equity:
Common stock 15,696,195 15,369,323
Accumulated deficit (4,906,591) (4,468,158)
Total stockholders' equity 10,789,604 10,901,165
Total liabilities
and stockholders' equity $ 13,222,009 $ 12,535,206 |
