Thanks for the websites. I have no problems researching it from here.
I don't see quite 90% of the answers but it will help out a lot.
Projectavision balance sheet looks a bit scarry IMO.
I see they are the parent company to MHTX and Tamarack.
I requested my investors kit also from Projectavision.
Lost $5M in 1997. Long way to recovery!
September 9,
1988 (Date of
Three Months Ended September 30, Nine Months Ended September 30, Incorporation)
---------------------------------- ------------------------------- to September 30,
1996 1997 1996 1997 1997
Restated Restated
REVENUE $ 150,000 $ 358,784 $ 150,000 $ 409,889 $ 1,864,889
LESS: COST OF SALES -- 344,517 -- 395,629 395,629
------------ ------------ ------------ ------------ ------------
GROSS PROFIT 150,000 14,267 150,000 14,260 1,469,260
OPERATING EXPENSES
General and administrative 410,915 600,340 1,505,123 2,257,628 11,626,390
Salaries 266,822 445,642 936,581 1,167,036 5,992,892
Legal fees 158,628 304,935 657,604 1,048,571 4,086,629
Depreciation and amortization 58,185 (13,558) 479,934 412,105 710,439
Research and development 191,577 304,750 503,930 486,634 6,297,886
Patent and license expense 104,360 21,679 242,445 204,200 1,692,252
------------ ------------ ------------ ------------ ------------
Total Operating Expenses 1,190,487 1,663,788 4,325,617 5,576,174 30,406,488
------------ ------------ ------------ ------------ ------------
LOSS FROM OPERATIONS (1,040,487) (1,649,521) (4,175,617) (5,561,914) (28,937,228)
------------ ------------ ------------ ------------ ------------
OTHER INCOME (EXPENSE)
Provision for allowances on
advances -- (100,000) -- (100,000) (289,260)
Interest income 152,687 28,030 360,147 158,784 1,665,644
Interest expense-8% Debentures (46,334) (31,781) (320,049) (90,190) (468,909)
Interest expense-Amortization of
debt expense -- -- (1,544,678) (89,122) (2,123,805)
------------ ------------ ------------ ------------ ------------
Other income/(expense) - Net 106,353 (103,751) (1,504,580) (120,528) (1,216,330)
------------ ------------ ------------ ------------ ------------
LOSS BEFORE EQUITY IN LOSS OF
UNCONSOLIDATED AFFILIATE (934,134) (1,753,272) (5,680,197) (5,682,442) (30,153,558)
------------ ------------ ------------ ------------ ------------
EQUITY IN LOSS OF
UNCONSOLIDATED AFFILIATE -- -- -- -- (4,897,314)
------------ ------------ ------------ ------------ ------------
NET LOSS $ (934,134) $ (1,753,272) $ (5,680,197) $ (5,682,442) $(35,050,872)
============ ============ ============ ============ ============
NET LOSS PER SHARE ATTRIBUTABLE TO
COMMON STOCKHOLDERS $ (.15) $ (.12) $ (.53) $ (.45)
============ ============ ============ ============
WEIGHTED AVERAGE NUMBER OF SHARES
OUTSTANDING 14,271,681 19,009,450 13,595,111 17,323,908
========== ========== ========== ==========
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