| Nine Months Ended September 30, | Three Months Ended September 30, | |||
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| - Advertisement -
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|
2001
|
2000
|
2001
|
2000
| |
| - Advertisement -
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| |
| NET REVENUES |
$ 37,373,358
|
$ 18,012,265
| - Advertisement -
$ 11,015,892
|
$ 8,029,020
|
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|
| |
| COST OF REVENUES |
23,461,824
|
6,374,119
| 6,402,640 |
3,494,409
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| Gross margin |
13,911,534
|
11,638,146
|
4,613,252
|
4,534,611
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| OPERATING EXPENSES: |
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|
| General and administrative |
5,372,297
|
7,979,538
| 1,657,287 |
2,768,025
|
| Selling and marketing |
3,163,708
|
8,057,898
|
1,131,213
|
2,760,214
|
| Salaries and benefits |
9,335,295
|
8,364,459
|
3,111,715
|
3,203,955
|
| Amortization of CBS advertising |
14,571,835
|
14,855,465
|
4,761,771
|
5,479,561
|
| Amortization of goodwill and intangibles |
5,480,729
|
5,065,645
| 1,840,840 |
1,735,076
|
| Depreciation and amortization |
1,146,867
|
1,050,316
|
399,307
|
391,841
|
| Reverse for closed stores and lease termination costs |
(289,801)
|
9,519
|
–
|
(236)
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| Total operating expenses | 38,780,930 |
45,382,840
|
12,902,133
|
16,338,436
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| Operating loss |
(24,869,396)
|
(33,744,694)
|
(8,288,881)
|
(11,803,825)
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| EQUITY IN EARNINGS – INVESTMENTS |
899,060
| 2,099,865 |
422,426
|
845,906
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| OTHER INCOME (EXPENSE): |
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| Interest expense |
(285,518)
|
(280,269)
|
(50,443)
|
(91,851)
|
| Interest income |
104,052
|
78,382
|
24,722
|
5,767
|
| Other, net |
(147,596)
|
34,599
|
20,579
|
6,192
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| Loss before minority interest |
(24,299,398)
|
(31,812,117)
|
(7,871,597)
|
(11,037,811)
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| MINORITY INTEREST |
(266,671)
| (276,996) |
(164,674)
|
(124,141)
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| NET LOSS |
$ (24,566,069)
|
$ (32,089,113)
|
$ (8,036,271)
|
$ (11,161,952)
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| Basic and diluted net loss per common share |
$ (0.96)
|
$ (1.41)
|
$ (0.30)
|
$ (0.47)
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| Weighted average shares outstanding |
25,646,794
|
22,838,794
|
26,571,807
|
23,583,009
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| NET LOSS |
$ (24,566,069)
|
$ (32,089,113)
|
$ (8,036,271)
|
$ (11,161,952)
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| |
| Add Back: |
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| Amortization of CBS advertising – non-cash |
14,571,835
|
14,855,465
|
4,761,771
|
5,479,561
|
| Amortization of goodwill and intangibles |
5,480,729
|
5,065,645
|
1,840,840
|
1,735,076
|
| Depreciation and amortization |
1,146,867
|
1,050,316
|
399,307
|
391,841
|
| Interest, net |
181,466
|
201,887
|
25,721
|
86,084
|
| Equity in loss of investments of less then 50% ownership * |
523,937
|
173,165
|
217,770
|
130,386
|
| 401-K Match – non-cash |
120,159
|
–
|
51,221
|
–
|
| Options & warrants for services rendered – non-cash |
166,976
|
189,310
|
52,629
|
114,281
|
| Other non-cash |
170,593
|
–
|
–
|
–
|
|
22,362,562
|
21,535,788
|
7,349,259
|
7,937,229
| |
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| ADJUSTED EBITDA LOSS |
$ (2,203,507)
|
$ (10,553,325)
|
$ (687,012)
|
$ (3,224,723)
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| * Includes MovieTickets.com and Beach Wrestling LLC. |
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