| March 31, |
December 31, | |
| 2002 | 2001 | |
| (Unaudited) | ||
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $1,337,451 | $1,980,966 |
| Receivables, net | 1,853,895 | 1,507,199 |
| Inventories | 8,929,159 | 7,086,444 |
| Other current assets | 1,620,199 | 1,347,019 |
| Deferred advertising – CBS | 13,054,321 | 13,054,321 |
| Total current assets | 26,795,025 | 24,975,949 |
| PROPERTY AND EQUIPMENT, net | 4,327,614 | 2,792,512 |
| INVESTMENTS | 1,011,467 | 1,522,519 |
| NONCURRENT DEFERRED ADVERTISING – CBS |
65,542,431 | 70,120,029 |
| INTANGIBLE ASSETS, net | 3,478,072 | 2,344,089 |
| GOODWILL, net | 40,655,452 | 40,655,452 |
| OTHER ASSETS | 995,547 | 959,669 |
| TOTAL ASSETS | $142,805,608 | $143,370,219 |
|
LIABILITIES AND SHAREHOLDERS’ EQUITY
|
||
| CURRENT LIABILITIES: | ||
| Accounts payable | $2,037,851 | $1,668,494 |
| Other accrued expenses | 2,330,752 | 2,571,425 |
| Notes payable | 1,250,000 | 800,000 |
| Deferred revenue | 11,288,438 | 8,968,641 |
| Current portion of capital lease obligations | 603,635 | 659,620 |
| Total current liabilities | 17,510,676 | 14,668,180 |
| CAPITAL LEASE OBLIGATIONS, less current portion | 356,540 | 458,390 |
| DEFERRED REVENUE | 886,466 | 1,072,153 |
| OTHER DEFERRED LIABILITY | 3,145,211 | – |
| SHAREHOLDERS’ EQUITY: | ||
| Common stock | 286,461 | 279,714 |
| Deferred compensation | (1,604,221) | (2,174,368) |
| Additional paid-in capital | 284,381,464 | 283,687,361 |
| Accumulated deficit | (162,156,989) | (154,621,211) |
| Total shareholders’ equity | 120,906,715 | 127,171,496 |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
$142,805,608 |
$143,370,219 |
Click here to see CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
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