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Gold/Mining/Energy : NET NANNY SOFTWARE NNS-V -- Ignore unavailable to you. Want to Upgrade?

To: Enigma who wrote (1599)	2/19/1999 10:18:00 AM
From: Red Hill	Read Replies (1) \| Respond to of 1681

Net Nanny Software International Inc - Net Nanny increases 1998 revenues Net Nanny Software International Inc NNS Shares issued 11,892,883 1999-02-17 close $0.99 Thursday Feb 18 1999 Mr. Gordon Ross reports Company revenue from product sales continue to increase. Revenues for the six month period ended Dec. 31, 1998 rose to $366,000 (U.S.), an increase of $176,000 (U.S.) or an additional 94 per cent over the same period in 1997. Additionally, for the second quarter, sales revenues of $231,000 (U.S.) grew 71 per cent when compared to first quarter revenues of $135,000 (U.S.). Gross profit margins on product sales also improved to 90 per cent against 73 per cent in 1997. CONSOLIDATED STATEMENT OF OPERATIONS Six month period ended Dec. 31 (expressed in U.S. dollars) 1998 1997 Sales $ 365,967 $ 189,832 Cost of sales 34,397 49,475 Gross margin 331,570 140,357 Expenses General and administrative 372,221 273,188 Selling and marketing 381,502 209,675 Research and development 148,889 27,727 Amortization 17,373 10,240 --------- -------- 920,085 520,830 Loss from operations (588,515 (380,473) Interest income 20,333 3,558 Loss for the period (568,182) (376,915) ======== ========= Loss per share 5 cents 4 cents General and administrative costs were equal to 102 per cent of sales in 1998, which is an improvement over the 143 per cent of sales in 1997. Total general and administrative costs increased by 36 per cent over 1997 due to the increased volumes of bvusiness in the respective periods. Marketing and sales costs of $381,000 (U.S.) increased in 1998 over 1997 due to increased advertising and travel expenditures. However, these costs as a percentage of sales decreased to 105 per cent from 110 per cent. Research and development costs increased 436 per cent to $149,000 (U.S.) from $27,000 (U.S.) in 1997 with the number of research and development personnel growing from one to eight people. Cash surplus positions in 1998 allowed the company to earn $20,000 (U.S.) of interest income during the period. At Dec. 31, 1998, the company's cash position was $830,000 (U.S.) with no short or long term debt. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com