From NT 10Q for 3 rd Q 99
The registrant estimates revenue of approximately $1,166,000 for the
quarter ended November 30, 1998, as compared to revenue of $1,399,281 for the quarter ended November 30, 1997. This change in the results of operations is in part attributable to revenue from exhibitions of approximately $1,024,000 during the quarter ended November 30, 1998 as compared to revenue from exhibitions of $1,283,131 during the quarter ended November 30, 1997. In addition, the registrant had merchandise, book and other revenues of approximately $84,000 during the quarter ended November 30, 1998, as compared to $24,262 from these sources during the quarter ended November 30, 1997, and
licensing fees of approximately $58,000 during the quarter ended November 30, 1998, as compared to licensing fees of 91,888 for the quarter ended November 30, 1997. The registrant's general an administrative expenses increased from $214,701 during the quarter ended November 30, 1997 to approximately $603,000 during the quarter ended November 30, 1998, principally as a result of an increase in professional fees and exhibition deinstallation expenses.
Additionally, the registrant had depreciation expense and costs associated with the write-down of certain exhibitry equipment of approximately $79,000 during the quarter ended November 30, 1998 as compared to $2,030 depreciation expense
during the quarter ended November 30, 1997.
Income before taxes was approximately $575,000 for the quarter ended November 30, 1998 as compared to $1,209,754 for the quarter ended November 30, 1997. After provision for income taxes of approximately $207,000, the registrant had net income of approximately $368,000 for the quarter ended November 30, 1998
as compared to $1,209,754 (after application of the available portion of its net operating loss carryforward) for the quarter ended November 30, 1997.
Therfore earnings for the Q will about (368,000 / 16,000,000) or about $.02 a share (disappointing exhibition revenues?) $.18 earnings per share for the first 3 Q of 99 |
