| - Advertisement -
December 31,
|
December 31,
| ||
|
2001
|
2000
| ||
|
(Unaudited)
| |||
| - Advertisement -
ASSETS
| |||
| CURRENT ASSETS: | |||
| Cash and cash equivalents |
$ 1,980,966
| - Advertisement -
$ 1,911,224
| |
| Receivables, net |
1,507,199
|
1,866,565
| |
| Inventories |
7,086,444
|
106,700
| |
| Prepaid expenses |
746,482
| 687,028 | |
| Other receivables |
600,537
| 298,751 | |
| Other current assets |
–
|
240,450
| |
| Deferred advertising – CBS |
13,054,321
|
19,131,714
| |
| Total current assets |
24,975,949
|
24,242,432
| |
| PROPERTY AND EQUIPMENT, net |
2,792,512
|
2,802,840
| |
| INVESTMENTS |
1,522,519
|
1,814,214
| |
| NONCURRENT DEFERRED ADVERTISING – CBS |
70,120,029
|
91,714,019
| |
| INTANGIBLE ASSETS, net |
2,344,089
|
3,745,579
| |
| GOODWILL, net |
40,655,452
|
44,231,378
| |
| OTHER ASSETS |
959,669
|
727,620
| |
| TOTAL ASSETS |
$ 143,370,219
|
$ 169,278,082
| |
|
LIABILITIES AND SHAREHOLDERS’ EQUITY
| |||
| CURRENT LIABILITIES: | |||
| Accounts payable | $ 1,668,494 |
$ 3,194,105
| |
| Other accrued expenses |
2,529,281
|
2,444,113
| |
| Notes payable |
800,000
|
750,000
| |
| Accrued reserve for closed stores |
42,144
|
798,362
| |
| Deferred revenue |
8,968,641
|
1,556,841
| |
| Current portion of capital lease obligations |
659,620
|
627,597
| |
| Total current liabilities |
14,668,180
|
9,371,018
| |
| CAPITAL LEASE OBLIGATIONS, less current portion |
458,390
|
721,521
| |
| DEFERRED REVENUE |
1,072,153
|
331,559
| |
| MINORITY INTEREST |
–
|
160,094
| |
| COMMITMENTS AND CONTINGENCIES | |||
| SHAREHOLDERS’ EQUITY: | |||
| Common stock |
279,714
|
247,309
| |
| Deferred compensation |
(2,174,368)
|
(102,067)
| |
| Additional paid-in capital |
283,687,361
|
271,339,954
| |
| Accumulated deficit |
(154,621,211)
|
(112,791,306)
| |
| Total shareholders’ equity |
127,171,496
|
158,693,890
| |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
$ 143,370,219
|
$ 169,278,082
| |
Click here to see
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
- Advertisement -
