Well the 10Q shows blowout revenues, increased losses. This before the Pokemon effect too.
CYBERSHOP.COM, INC. AND SUBSIDIARIES
(Formerly Cybershop International, Inc.)
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
Three Months Ended Nine Months Ended
September 30, September 30,
-------------------------- -------------------------
1999 1998 1999 1998
----------- ------------ ----------- -----------
Revenues:
Product sales $ 2,780,000 $ 470,000 $ 5,890,000 $ 1,400,000
Advertising & set up fees 8,000 30,000 40,000 92,000
----------- ----------- ----------- -----------
Total revenues 2,788,000 500,000 5,930,000 1,492,000
Cost of revenues 1,828,000 360,000 4,205,000 1,055,000
----------- ----------- ----------- -----------
Gross profit 960,000 140,000 1,725,000 437,000
Operating expenses:
Sales and marketing 812,000 526,000 2,268,000 1,999,000
General and administrative 1,584,000 979,000 4,804,000 2,483,000
Amortization of goodwill and
other merger and acquisition
related costs 750,000 -- 1,009,000 --
----------- ----------- ----------- -----------
Total operating expenses 3,146,000 1,505,000 8,081,000 4,482,000
----------- ----------- ----------- -----------
Loss from operations (2,186,000) (1,365,000) (6,356,000) (4,045,000)
Interest income, net 15,000 212,000 230,000 461,000
Minority interest 9,000 -- 253,000 --
----------- ----------- ----------- -----------
Net loss $(2,162,000) $(1,153,000) $(5,873,000) $(3,584,000)
=========== =========== =========== ===========
Net loss per share, basic and diluted $ (0.25) $ (0.15) $ (0.73) $ (0.56)
Weighted average common shares
outstanding, basic and diluted 8,602,000 7,470,000 8,002,000 6,409,000
The accompanying notes to the unaudited consolidated financial statements
are an integral part of these consolidated statements.
Revenues were unexpectedly high. Was hoping for losses to hold steady. A little cut on the raod to victory.
Jack |
