Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Racom Systems (RCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Gutterball who wrote (256)	8/14/1998 12:46:00 PM
From: Gutterball	Respond to of 468

CONDENSED STATEMENTS OF OPERATIONS (Unaudited) Three months ended June 30, Six months ended June 30, 1997 1998 1997 1998 ---------- --------- ---------- ---------- REVENUES Product sales $ 74,883 $ 65,969 $ 105,936 $ 93,147 Product sales-related parties 47,039 6,814 64,455 44,141 License revenues - 500,000 - 1,500,000 License revenues-related party 214,893 - 438,258 - ---------- ---------- ---------- ---------- 336,815 572,783 608,649 1,637,288 COST OF REVENUES 128,604 39,846 243,850 76,044 ---------- ---------- ---------- ---------- GROSS MARGIN 208,211 532,937 364,799 1,561,244 OPERATING EXPENSES Research and development 300,852 217,319 557,261 484,067 General and administrative 296,557 302,896 473,736 618,502 Sales and marketing 278,149 220,611 489,353 466,584 Equity in loss of Racom Japan 103,343 - 198,374 - Amortization expense 39,411 39,411 78,547 78,822 ---------- ---------- ---------- ---------- 1,018,312 780,237 1,797,271 1,647,975 LOSS FROM OPERATIONS (810,101) (247,300) (1,432,472) (86,731) OTHER INCOME (EXPENSE) Interest expense (750) (482) (138,265) (1,195) Interest expense-related parties - - (17,405) - Interest income 47,177 16,807 49,802 34,529 Other 705 (82) (54,790) 898 ---------- ---------- ---------- ---------- NET LOSS $(762,969) $ (231,057) $(1,593,130) $ (52,499) ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- NET LOSS PER SHARE - BASIC AND DILUTED $ (0.06) $ (0.02) $ (0.13) $ 0.00 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- WEIGHTED AVERAGE SHARES OUTSTANDING 12,407,532 13,242,949 12,407,532 13,242,949 ---------- ---------- ---------- ---------- ---------- ---------- ---------- ----------

To: Gutterball who wrote (256)	8/14/1998 12:58:00 PM
From: Gutterball	Read Replies (1) \| Respond to of 468

BALANCE SHEETS ASSETS December 31, June 30, 1997 1998 ------------- ------------- CURRENT ASSETS: Cash and cash equivalents $ 1,198,567 $ 1,363,773 Accounts receivable-trade 43,042 28,299 Accounts receivable-related parties 26,720 7,584 Inventory 122,875 144,786 Prepaid expenses & other 62,833 63,160 ------------ ------------ TOTAL CURRENT ASSETS 1,454,037 1,607,602 PROPERTY AND EQUIPMENT Machinery and equipment 449,432 501,603 Furniture and fixtures 59,404 59,404 Leasehold improvements 3,328 3,328 ------------ ------------ 512,164 564,335 Less-accumulated depreciation (351,982) (390,862) ------------ ------------ 160,182 173,473 OTHER ASSETS: Technology license from related party, net of accumulated amortization of $842,541 and $921,364, respectively 1,557,459 1,478,636 ------------ ------------ TOTAL ASSETS $ 3,171,678 $ 3,259,711 ------------ ------------ ------------ ------------ LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable and accrued liabilities $ 359,069 $ 302,173 Accounts payable-related parties 20,780 - Capital lease obligation 16,594 14,802 ------------ ------------ TOTAL LIABILITIES 396,443 316,975 ------------ ------------ STOCKHOLDERS' EQUITY: Preferred stock, no par value, 5,000,000 shares authorized, no shares issued or outstanding - - Common stock, $.01 par value, 20,000,000 shares authorized, 13,222,532 and 13,442,532 shares issued and outstanding, respectively 132,225 134,425 Additional paid-in capital 16,499,243 16,717,043 Accumulated deficit (13,856,233) (13,908,732) ------------ ------------ TOTAL STOCKHOLDERS' EQUITY 2,775,235 2,942,736 ------------ ------------ TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 3,171,678 $ 3,259,711 ------------ ------------ ------------ ------------