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June 30, | December 31, | ||
2002 | 2001 | ||
(Unaudited) |
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ASSETS |
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- Advertisement -
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CURRENT ASSETS: |
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Cash and cash equivalents | $ 3,163,451 | $ 1,980,966 | |
Receivables, net | 1,616,324 | 1,507,199 | |
Inventories | 6,643,550 | 7,086,444 | |
Other current assets | 2,290,258 | 1,347,019 | |
Deferred advertising – CBS | 18,310,392 | 13,054,321 | |
Total current assets | 32,023,975 | 24,975,949 | |
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PROPERTY AND EQUIPMENT, net | 4,470,986 | 2,792,512 | |
INVESTMENTS | 938,685 | 1,522,519 | |
NONCURRENT DEFERRED ADVERTISING – CBS | 55,261,215 | 70,120,029 | |
INTANGIBLE ASSETS, net | 3,077,405 | 2,344,089 | |
GOODWILL, net | 40,775,736 | 40,655,452 | |
OTHER ASSETS | 1,263,303 | 959,669 | |
TOTAL ASSETS | $ 137,811,305 | $ 143,370,219 | |
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LIABILITIES AND SHAREHOLDERS’ EQUITY
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CURRENT LIABILITIES: |
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Accounts payable | $ 2,015,566 | $ 1,668,494 | |
Accrued expenses and other | 2,491,591 | 2,571,425 | |
Notes payable | 250,000 | 800,000 | |
Deferred revenue | 8,313,481 | 8,968,641 | |
Current portion of capital lease obligations | 414,180 | 659,620 | |
Total current liabilities | 13,484,818 | 14,668,180 | |
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CAPITAL LEASE OBLIGATIONS, less current portion | 292,899 | 458,390 | |
DEFERRED REVENUE | 604,433 | 1,072,153 | |
MINORITY INTEREST | 28,278 | – | |
OTHER DEFERRED LIABILITY | 3,145,211 | – | |
CONVERTIBLE DEBENTURES, NET | 2,900,691 | – | |
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SHAREHOLDERS’ EQUITY: |
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Common stock | 285,851 | 279,714 | |
Deferred compensation | (1,034,074) | (2,174,368) | |
Additional paid-in capital | 287,194,572 | 283,687,361 | |
Accumulated deficit | (169,091,374) | (154,621,211) | |
Total shareholders’ equity | 117,354,975 | 127,171,496 | |
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ 137,811,305 | $ 143,370,219 | |
Click here to see CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
