The Ashton Technology Group, Inc. and Subsidiaries
Consolidated Statements of Operations
(Unaudited)
Three Months Ended Six Months Ended
September 30, September 30,
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1998 1999 1998 1999
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Revenues............................................... $ 208,390 $ 1,057,508 $ 651,952 $ 1,879,547
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Costs and expenses:
Costs of revenues..................................... 56,000 71,442 90,000 130,630
Development costs..................................... 47,677 47,915 95,354 95,592
Depreciation and amortization......................... 93,853 275,416 186,629 413,084
Non-cash compensation charges......................... 4,770,667 135,989 4,915,198 285,208
Selling, general and administrative................... 2,509,889 5,070,154 4,483,121 8,359,408
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Total costs and expenses 7,478,086 5,600,916 9,770,302 9,283,922
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Loss from operations................................... (7,269,696) (4,543,408) (9,118,350) (7,404,375)
Interest income....................................... 39,973 264,966 75,441 352,896
Other expense......................................... --- (416,632) --- (416,632)
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Net loss............................................... $ (7,229,723) $ (4,695,074) $ (9,042,909) $ (7,468,111)
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Dividends attributed to preferred stock................ (362,699) (800,630) (362,699) (800,630)
Beneficial conversion feature of preferred stock....... (1,207,500) --- (5,083,484) ---
Dividends in arrears on preferred stock................ (159,685) (231,557) (213,960) (231,557)
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Net loss applicable to common stock.................... $ (8,959,607) $ (5,727,261) $(14,703,052) $ (8,500,298)
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Net loss per common share.............................. $ (.99) $ (.24) $ (1.68) $ (.37)
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Weighted average number of common shares outstanding... 9,034,175 24,420,929 8,760,604 23,276,653
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