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| Online Resources Announces Fourth Quarter and 1999 Results |
ONLINE RESOURCES
Condensed Balance Sheets
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December 31,
1998 |
December 31,
1999
(Unaudited) |
| Current Assets: |
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| Cash and cash
equivalents |
$ 3,471,620 |
$2,671,018 |
| Investment in available
for sale securities |
-- |
18,823,098 |
| Escrow deposit |
400,985 |
-- |
| Accounts receivable, net |
933,585 |
1,875,707 |
| Prepaid expenses and
other current assets |
921,247 |
946,207 |
| Total current assets |
5,727,437 |
24,316,030 |
| Property and equipment,
net |
3,166,019 |
4,616,672 |
| Other assets |
527,972 |
284,473 |
| Total assets |
$ 9,421,428 |
$29,217,175 |
| Current Liabilities: |
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| Accounts payable, accrued
liabilities and other |
$ 2,942,397 |
$ 2,293,659 |
| Deferred revenues |
678,117 |
417,926 |
| Current portion of
long term obligations |
1,526,547 |
709,076 |
| Total current liabilities |
5,147,061 |
3,420,661 |
| Long-term obligations -
less current portion |
9,686,889 |
329,480 |
| Redeemable convertible
Preferred Stock, $0.01
par value |
25,776,254 |
-- |
| Stockholders equity |
(31,188,776) |
25,467,034 |
| Total liabilities and
stockholders' equity |
$ 9,421,428 |
$29,217,175 |
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SOURCE Online Resources & Communications Corporation back
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