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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: umbro who wrote (7279)	3/20/1999 9:14:00 PM
From: Mad2	Read Replies (1) \| Respond to of 18998

S & P info on DGV here's some add'l info. Not that it makes much difference. Seems that with a I-Nut story stock knowing too much about the financial strength can hurt as one trys to make a rational decision. DIGITAL LAVA INC. TICKER: DGV LOAD-DATE: March 18, 1999 CUSIP: 253928 * * * * * * * * * * * * * * * * * RECENT NEWS * * * * * * * * * * * * * * NEWS TABLE OF CONTENTS- DATE TITLE --------- -------------------------------------------------------- 01 Mar 99 Annual Report 19 Feb 99 Full Description Pending 18 Feb 99 Listed on ASE Following Initial Public Offering DIGITAL LAVA INC. DATE: 990301 EVENT: Annual Report (ANR) TITLE: Annual Report (For full details see RECENT FINANCIAL STATEMENTS.) DIGITAL LAVA INC. DATE: 990219 TITLE: Full Description Pending TEXT: Full description of this concern is scheduled to appear in the C-E Volume of Standard Corporation Records during April, 1999. DIGITAL LAVA INC. DATE: 990218 EVENT: Initial Public Offering (IPO) TITLE: Listed on ASE Following Initial Public Offering TEXT: February 18,,1999, Digital Lava Inc. was admitted to the American Stock Exchange following its Initial Public Offering of 2.4 million shares at $ 7.50 per share. The company's stock trades under the ticker symbol DGV. * * * * * * * * * * * * RECENT FINANCIAL STATEMENTS * * * * * * * * * * * (Also see RECENT NEWS for more information) DIGITAL LAVA INC. DATE: 990301 EVENT: Annual Report (ANR) TITLE: Annual Report Inc. Acct. Yrs. End. Dec. 31: Thou. $ 1997 1996 Revenues 565 --- Cost & exps. 3,780 1,912 Oper. income d3,215 d1,912 Other income --- 10 Total income d3,215 d1,902 Depr. & amort. 105 32 Interest exp. 925 451 Net income d4,245 d2,385 Share earns. (basic): d$ 31.14 d$ 93.00 Share earns. (diluted): d$ 31.14 d$ 93.00 Avge. com. & com. equiv. shs. (Thou.): 136 26 dDeficit. Based on avge. com. & com. equiv. shs., adjtd. for Sept. '98 1-for-9.139 reverse stk. split. Note: The company originally operated as Lava L.L.C. (Lava), a New Jersey limited liab. company, which was formed in July 1995. On Nov. 26 '96, Lava entered into a merger agreement with Digital Lava Inc. (DLI), a Delaware corporation formed in June '96 for the purpose of this merger. The ownership interests in Lava were exchanged for shares of Ser. A, B, B-1 and C convertible Pds. stk. of DLI. The above financial results reflect this reorganization for all periods. Note: In February 1997, the Financial Accounting Standards Board issued FASB #128 "Earnings Per Share." This statement replaces the previous standard APB Opinion #15, "Earnings per Share." Effective for periods ending after December 15, 1997, FASB #128 requires companies to report both "basic" and "diluted" earnings per share. "Basic" earnings per share does not include the addition of common stock equivalents to the shares outstanding. "Diluted" earnings per share requires the addition of common stock equivalents to the shares outstanding. Average shares outstanding is the denominator used in "basic" earnings per share calculations. Accordingly, "basic" earnings per share will be higher than "diluted" earnings per share. Note: At Dec. 31 '97, Co. had avail. net oper. loss carryforwards of $ 2,800,000. fBal. Sheet Dec. 31 '97: Thou. $ Assets- Cash & equiv. 174 Accts. rec., net 167 Other curr. assets 89 Tot. curr. assets 430 Net property 94 Other assets 2 Total assets 526 Liabilities- Notes pay. 3,452 Total short-term debt 3,452 Accts. pay. 391 Accruals 300 Tot. curr. liabs. 4,143 @Pfd. stk. p.$ 0.0001 b aCom. stk. p.$ 0.0001 c Paid-in cap. 3,351 Retained earns. d6,968 Total liabs. 526 Net wkg. cap. d3,713 Capital expenditures 106 Research & develmt. exp. 445 Equity per sh. e dDeficit. Depr. & amort. res. 67 @Pfd. shs. (Thou.): Ser. A 89 Ser. B 5 Ser. B-1 1 Ser. C 3 aCom. shs. (Thou.): 132 bRepresents $ 9. cRepresents $ 13. eNot computed by S&P because of deficit in com. stockholders' equity. fReflects Sept. '98 1-for-9.139 reverse stk. split.