(Unaudited) | ||||
Year Ended December 31,
|
Three Months Ended December 31,
|
|||
2002
|
2001
|
2002
|
2001
|
|
NET REVENUES |
$58,237,271
|
$50,154,801
|
$15,987,523
|
$12,781,443
|
COST OF REVENUES |
41,057,261
|
32,320,649
|
11,753,169
|
8,417,970
|
Gross margin |
17,180,010
|
17,834,152
|
4,234,354
|
4,363,473
|
OPERATING EXPENSES: | ||||
General and administrative |
7,626,933
|
6,994,030
|
2,632,799
|
2,352,389
|
Selling and marketing |
2,027,162
|
4,348,183
|
340,863
|
1,184,475
|
Salaries and benefits |
13,006,568
|
12,428,304
|
3,571,504
|
3,093,009
|
Deferred Compensation |
2,174,368
|
106,220
|
463,927
|
106,220
|
Amortization of CBS advertising |
11,251,566
|
27,822,802
|
315,071
|
13,250,967
|
Impairment loss – CBS advertising |
57,274,680
|
–
|
–
|
–
|
Write-off of prepaid trade credits |
655,500
|
–
|
–
|
–
|
Depreciation and amortization |
3,074,614
|
8,886,350
|
649,119
|
2,258,754
|
Total operating expenses |
97,091,391
|
60,585,889
|
7,973,283
|
22,245,814
|
Operating loss |
(79,911,381)
|
(42,751,737)
|
(3,738,929)
|
(17,882,341)
|
EQUITY IN EARNINGS – INVESTMENTS |
550,238
|
1,470,392
|
182,641
|
571,332
|
OTHER INCOME (EXPENSE): | ||||
Interest, net |
(1,272,880)
|
(144,289)
|
(420,522)
|
37,177
|
Other, net |
(250,564)
|
(94,403)
|
(257,599)
|
53,193
|
Loss before minority interest |
(80,884,587)
|
(41,520,037)
|
(4,234,409)
|
(17,220,639)
|
MINORITY INTEREST |
(665,529)
|
(309,868)
|
(69,861)
|
(43,197)
|
NET LOSS |
$(81,550,116)
|
$(41,829,905)
|
$(4,304,270)
|
$(17,263,836)
|
Basic and diluted net loss per common share |
$(3.18)
|
$(1.61)
|
$(0.21)
|
$(0.63)
|
Weighted average shares outstanding |
25,679,706
|
26,056,911
|
20,207,407
|
27,273,889
|
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