|
Three Months Ended June 30,
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| - Advertisement -
| 2002 | 2002 | ||
| Pro forma* | Actual | |||
| - Advertisement -
| ||||
| NET REVENUES | $ 16,522,685 | - Advertisement -
| $ 16,522,685 | |
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| COST OF REVENUES | 11,468,041 | 11,468,041 | ||
| Gross margin | 5,054,644 | 5,054,644 | ||
| OPERATING EXPENSES: | ||||
| General and administrative | 1,245,679 | 1,245,679 | ||
| Selling and marketing | 861,779 | 861,779 | ||
| Salaries and benefits | 3,489,967 | 3,489,967 | ||
| Amortization of CBS advertising ** | 238,125 | 5,025,145 | ||
| Depreciation and amortization | 942,681 | 942,681 | ||
| Total operating expenses | 6,778,231 | 11,565,251 | ||
| Operating loss | (1,723,587) | (6,510,607) | ||
| EQUITY IN EARNINGS – INVESTMENTS | 14,575 | 14,575 | ||
| OTHER: | ||||
| Interest expense | (237,705) | (237,705) | ||
| Interest income | 7,209 | 7,209 | ||
| Other, net | (18,446) | (18,446) | ||
| Loss before minority interest | (1,957,954) | (6,744,974) | ||
| MINORITY INTEREST IN EARNINGS OF SUBSIDIARIES | (189,411) | (189,411) | ||
| Net loss | $ (2,147,365) | $ (6,934,385) | ||
| Basic and diluted loss per common share | $ (0.11) | $ (0.25) | ||
| Weighted average common and common equivalent | ||||
| shares outstanding – basic and diluted | 19,662,197 | 28,276,884 | ||
* Pro forma. Assumes the Viacom Exchange Transaction occurred on January 1, | ||||
**The pro forma above assumes a straight line amortization of $1.27 million | ||||
The $1.27 million reflects the approximate book value of the $5 million in | ||||
Click here to see CONDENSED CONSOLIDATED BALANCE SHEETS
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