Form 8-K filed yesterday for Cyberhighway deal. Here is an excerpt:
Sorry about the formatting by I am in a hurry. Bottom line is Cyberhighway has revenue of $2.5 M in 1998 and made money, pre amortization of goodwill!!! Awesome for an internet company.
Historical
Internet Cyber- Proforma Proforma
Media Highway Adjustments Consolidated
Revenues $ 5,440 $2,449,156 $ - $ 2,454,596
Expenses
Internet
access
cost - 510,036 - 510,036
Equip-
ment cost - 326,488 - 326,488
Deprecia-
tion and
amorti-
zation 4,394 138,674 6,918,262(2) 7,061,330
General
and
admini-
strative 1,030,070 1,292,526 - 2,322,596
Selling - 110,397 - 110,397
Total
oper-
ating
expense 1,034,464 2,378,121 6,918,262 10,330,847
Operating
income
(loss) ( 1,029,024) 71,035 ( 6,918,262) ( 7,876,251)
Other
income
(expense) ( 8,602) 6,960 - ( 1,642)
Income
(loss)
before
taxes ( 1,037,626) 77,995 ( 6,918,262) ( 7,877,893)
Income
tax
benefit - - (1,753,563)(3) (1,753,563)
Net
income
(loss) ($1,037,626) $ 77,995 ($5,164,699) ($6,124,330)
Net
income
(loss)
per
share ($0.14) $31.51 ($0.84)
Weighted
average
number
of shares
out-
standing 7,360,506 2,475 9,360,506
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