95% DECREASE IN REVENUES!!!!!!!What the hell is wrong with the public they desreve what is gonna happen to themm..the greed factor is in rare form today
<CAPTION>
Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended
September 30, 1998 September 30, 1997 September 30, 1998 September 30, 1997
------------------ ------------------ ------------------ ------------------
<S> <C> <C> <C> <C>
Net revenues $ 251,345 $ 3,271,245 $ 785,486 $ 8,432,817
Cost of revenues 40,867 558,691 164,210 4,261,839
------------ ------------ ------------ ------------
Gross profit 210,478 2,712,554 621,276 4,170,978
------------ ------------ ------------ ------------
Operating expenses:
Research and product development 1,028,766 4,370,096 3,197,739 12,991,379
Sales and marketing 231,317 1,808,237 773,627 5,532,830
General and administrative 999,192 1,289,558 4,824,743 4,228,984
Amortization of intangible assets 1,518 453,529 4,554 507,848
------------ ------------ ------------ ------------
Total operating expenses 2,260,793 7,921,420 8,800,663 23,261,041
------------ ------------ ------------ ------------
Operating loss (2,050,315) (5,208,866) (8,179,387) (19,090,063)
Interest and other, net (220,198) 30,433 (1,643,225) 311,226
------------ ------------ ------------ ------------
Net loss $ (2,270,513) $ (5,178,433) $ (9,822,612) $(18,778,837)
Dividends on preferred stock 173,151 -- 173,151 --
Beneficial conversion feature in association
with preferred stock 14,970,862 -- 14,970,862 --
------------ ------------ ------------ ------------
Net loss available to common shareholders $(17,414,526) $ (5,178,433) $(24,966,625) $(18,778,837)
============ ============ ============ ============
Basic and diluted loss per common share $ (1.00) $ (0.38) $ (1.62) $ (1.38)
============ ============ ============ ============
Basis and diluted weighted average
shares outstanding 17,462,159 13,679,239 15,439,185 13,635,203
============ ============ ============ ============
</TABLE> |
