|
December 31,
|
December 31,
|
|||
|
2003
|
2002
|
|||
| ASSETS | (As Restated, | |||
| See Note 1 below) | ||||
| CURRENT ASSETS: | ||||
| Cash and cash equivalents |
$ 1,867,999
|
$ 2,342,238
|
||
| Receivables, net |
1,496,934
|
1,845,063
|
||
| Inventories |
5,770,289
|
7,144,311
|
||
| Prepaid expenses |
941,966
|
1,026,454
|
||
| Other receivables |
654,141
|
510,532
|
||
| Other current assets |
10,296
|
247,532
|
||
| Deferred advertising – CBS |
38,807
|
924,780
|
||
| Total current assets |
10,780,432
|
14,040,910
|
||
| RESTRICTED CASH |
850,000
|
–
|
||
| PROPERTY AND EQUIPMENT, net |
2,236,906
|
3,563,569
|
||
| INVESTMENTS IN AND ADVANCES TO EQUITY METHOD INVESTEES |
164,205
|
294,438
|
||
| INTANGIBLE ASSETS, net |
1,603,985
|
2,342,807
|
||
| GOODWILL, net |
40,813,682
|
40,773,968
|
||
| OTHER ASSETS |
431,811
|
737,231
|
||
| TOTAL ASSETS |
$ 56,881,021
|
$ 61,752,923
|
||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||
| CURRENT LIABILITIES: | ||||
| Accounts payable |
$ 2,201,431
|
$ 1,354,663
|
||
| Accrued expenses and other |
5,178,467
|
4,299,655
|
||
| Notes payable |
–
|
250,000
|
||
| Loan from shareholder/officer |
600,000
|
–
|
||
| Accrued exit and retail closure costs |
–
|
27,500
|
||
| Deferred revenue |
9,063,317
|
9,374,156
|
||
| Current portion of capital lease obligations |
227,538
|
340,083
|
||
| Total current liabilities |
17,270,753
|
15,646,057
|
||
| CAPITAL LEASE OBLIGATIONS, less current portion |
178,790
|
238,546
|
||
| DEFERRED REVENUE |
193,063
|
214,626
|
||
| MINORITY INTEREST |
21,895
|
–
|
||
| OTHER DEFERRED LIABILITY |
903,192
|
2,381,863
|
||
| CONVERTIBLE DEBENTURES, NET |
4,027,629
|
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; 21,810,266 | ||||
| and 20,253,863 shares issued and outstanding at December 31, 2003 and | ||||
| December 31, 2002, respectively |
218,103
|
202,539
|
||
| Additional paid-in capital |
279,087,772
|
277,261,293
|
||
| Deferred compensation |
(162,500)
|
–
|
||
| Accumulated deficit |
(244,857,676)
|
(237,415,989)
|
||
| Total shareholders’ equity |
34,285,699
|
40,047,843
|
||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
$ 56,881,021
|
$ 61,752,923
|
||
| (1) Accrued expenses and other has been increased by $444,774 for the 2002 restated financial statements as a result of an underaccrual for Broadway Ticketing purchases. | ||||
| Deferred revenue has been increased by $484,154 for the 2002 restated
financial statements as a result of an underaccrual for Broadway Ticketing gift certificates. |
||||
| Investments in and advances to equity method investees has been decreased by $315,734 for the 2002 restated financial statements as a result of an underaccrual of deferred revenue. | ||||
| HOLLYWOOD MEDIA CORP. AND SUBSIDIARIES CONSOLIDATED |
| • BALANCE SHEETS |
| • YEARLY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
| • QUARTER CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
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