Auric, like I said, the deal was only inked about 1 week ago (3/22)
and it is month-end and year-end time for Cyber-Care. Relax. Why so hostile?
This is just business, after all. You seem to take this all so personally.
You will end up with a cardiac arrest.
As for revenues, the EHC division will not start genererating serious revenues until
later in the year, and the other divisions are mostly profitable, from my understanding.
Actually, Morrell has turned the company around, with revenues nearly
tripling since 1998, as you can see below:
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
(UNAUDITED) (UNAUDITED)
1999 1998 1999 1998
------------ ------------ ------------ ------------
Income:
Revenue from operations ................ $ 10,772,612 $ 3,678,198 $ 27,520,587 $ 11,025,372
Equity in net income of investee ....... -- 78,984 90,300 136,413
Gain on sale of investment in equity
securities ........................... 76,790 -- 76,790 --
Gain on sale of subsidiary ............. -- -- 1,255,959 --
------------ ------------ ------------ ------------
Total income ................ 10,849,402 3,757,182 28,943,636 11,161,785
------------ ------------ ------------ ------------
Expenses:
Cost of revenues ....................... 6,394,024 1,443,532 15,497,641 5,358,301
General and administrative expenses .... 2,834,749 1,372,033 7,956,812 3,434,496
Depreciation and amortization .......... 766,770 545,687 2,080,985 951,123
Interest expense, net .................. 486,603 295,376 1,665,480 642,250
Interest - beneficial conversion feature 132,156 -- 884,289 --
------------ ------------ ------------ ------------
Total expenses .............. 10,614,302 3,656,628 28,085,207 10,386,170
------------ ------------ ------------ ------------
Income from continuing operations ............ 235,100 100,554 858,429 775,615
Merger costs ................................. -- 117,748 -- 117,748
Loss from discontinued operations ............ -- 1,476,098 -- 1,598,704
Loss from disposal of discontinued operations -- 678,529 -- 678,529
------------ ------------ ------------ ------------
Net income (loss) ............................ 235,100 (2,171,821) 858,429 (1,619,366)
Accumulated deficit-beginning of periods ..... (27,020,016) (19,709,936) (27,643,345) (20,262,391)
------------ ------------ ------------ ------------
Accumulated deficit-end of periods............ $(26,784,916) $(21,881,757) $(26,784,916) $(21,881,757)
------------ ------------ ------------ ------------
Earnings (loss) per share of common stock:
Basic earnings per share:
Income from continuing operations $ .01 $ .01 $ .03 $ .04
Discontinued operations .......... $ -- $ (.12) $ -- $ (.13)
------------ ------------ ------------ ------------
Net income (loss) ................ $ .01 $ (.11) $ .03 $ (.09)
============ ============ ============ ============
Diluted earnings (loss) per share .... $ .01 $ (.11) $ .03 $ (.09)
============ ============ ============ ============
Weighted average shares outstanding:
Basic ................................. 30,752,747 19,472,557 26,058,396 18,398,760
============ ============ ============ ============
Diluted ............................... 35,793,678 19,472,557 30,149,801 18,398,760
============ ============ ============ ============ |
