|
September 30,
|
December 31,
|
||
|
2003
|
2002
|
||
| ASSETS |
|
|
|
| CURRENT ASSETS: | |||
| Cash and cash equivalents |
$ 434,130
|
$ 2,342,238
|
|
| Receivables, net |
1,319,747
|
1,845,063
|
|
| Inventories, net |
6,870,553
|
7,144,311
|
|
| Prepaid expenses |
1,435,817
|
1,026,454
|
|
| Other receivables |
930,934
|
510,532
|
|
| Other current assets |
50,148
|
247,532
|
|
| Deferred advertising – CBS |
315,587
|
924,780
|
|
| Total current assets |
11,356,916
|
14,040,910
|
|
| RESTRICTED CASH |
550,000
|
–
|
|
| PROPERTY AND EQUIPMENT, net |
2,591,876
|
3,563,569
|
|
| INVESTMENTS IN AND ADVANCES TO EQUITY METHOD INVESTEES |
772,234
|
610,172
|
|
| IDENTIFIABLE INTANGIBLE ASSETS, net |
1,811,940
|
2,342,807
|
|
| GOODWILL, net |
40,813,683
|
40,773,968
|
|
| OTHER ASSETS |
465,641
|
737,231
|
|
| TOTAL ASSETS |
$58,362,290
|
$ 62,068,657
|
|
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||
| CURRENT LIABILITIES: | |||
| Accounts payable |
$ 2,101,478
|
$ 1,354,663
|
|
| Accrued expenses and other |
4,393,049
|
3,854,881
|
|
| Notes payable |
–
|
250,000
|
|
| Loan from shareholder/officer |
700,000
|
–
|
|
| Accrued exit and retail closure costs |
–
|
27,500
|
|
| Deferred revenue |
8,979,603
|
8,890,002
|
|
| Current portion of capital lease obligations |
189,421
|
340,083
|
|
| Total current liabilities |
16,363,551
|
14,717,129
|
|
| CAPITAL LEASE OBLIGATIONS, less current portion |
113,085
|
238,546
|
|
| DEFERRED REVENUE |
290,813
|
214,626
|
|
| MINORITY INTEREST |
29,046
|
–
|
|
| OTHER DEFERRED LIABILITY |
2,292,022
|
2,381,863
|
|
| CONVERTIBLE DEBENTURES, NET |
3,803,278
|
3,223,988
|
|
| COMMITMENTS AND CONTINGENCIES |
|||
| SHAREHOLDERS’ EQUITY: | |||
| Preferred Stock, $.01 par value, 539,127 shares authorized; none outstanding |
–
|
–
|
|
| Series A variable rate convertible preferred stock, $6.25 stated value, 217,600 |
|||
| shares authorized; 217,600 shares issued and outstanding at December 31,1998. |
–
|
–
|
|
| Series B variable rate convertible preferred stock, $5.21 stated value, 142,223 |
|||
| shares authorized; 122,846 shares issued and outstanding at December 31,1998. |
–
|
–
|
|
| Series C, 4% convertible preferred stock, $100 stated value, 100,000 shares |
|||
| authorized; 20,000 shares issued and outstanding at December 31,1998. |
–
|
–
|
|
| Series D, 7% convertible preferred stock, $10,000 stated value, 1,000 shares |
|||
| authorized; 250 shares issued and outstanding December 31,1998. |
–
|
–
|
|
| Series D-2, 7% convertible preferred stock, $10,000 stated value, 50 shares authorized; |
|||
| 50 shares issued and outstanding at December 31,1998. |
–
|
–
|
|
| Common stock, $.01 par value, 100,000,000 shares authorized; 21,383,004 |
|||
| and 20,253,863 shares issued and outstanding at September 30, 2003 and |
|||
| December 31, 2002, respectively |
213,830
|
202,539
|
|
| Deferred compensation |
(243,750)
|
–
|
|
| Additional paid-in capital |
278,734,767
|
277,261,293
|
|
| Accumulated deficit |
(243,234,352)
|
236,171,327)
|
|
| Total shareholders’ equity |
35,470,495
|
41,292,505
|
|
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
$58,362,290
|
$62,068,657
|
|
HOLLYWOOD
MEDIA REPORTS THIRD QUARTER 2003 FINANCIAL RESULTS
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