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| Revenues Double, End-Users Nearly Triple Versus Prior Year |
ONLINE RESOURCES
Condensed Statement of Operations
(Unaudited)
| |
Three Months Ended
March 31, |
| |
2000 |
1999 |
| Revenues: |
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| Service fees |
$ 2,316,815 |
$ 1,145,628 |
| Implementation and other revenues |
829,859 |
358,068 |
| Total revenues |
3,146,674 |
1,503,696 |
| Expenses: |
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| Cost of revenues |
3,098,553 |
1,905,916 |
| Gross profit (loss) |
48,121 |
(402,220) |
| General & administrative |
1,662,317 |
795,174 |
| Sales and marketing |
2,266,814 |
983,281 |
| Systems and development |
1,426,953 |
904,355 |
| Total expenses |
5,356,084 |
2,682,810 |
| Loss from operations |
(5,307,963) |
(3,085,030) |
| Other Income (expense) |
272,304 |
(399,992) |
| Net loss |
(5,035,659) |
(3,485,022) |
| Preferred stock accretion |
- |
(1,266,184) |
| Beneficial return on preferred shares |
- |
(2,668,109) |
| Net loss available to common stockholders |
$ (5,035,659) |
$ (7,419,315) |
| Basic and diluted loss per share: |
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| Operations |
$ (.48) |
$ (0.75) |
| Net loss |
$ (.45) |
$ (0.85) |
| Available to common stockholders |
$ (.45) |
$ (1.81) |
| Pro forma basic and diluted loss per
share: |
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| Operations |
$ (.48) |
$ (0.42) |
| Net loss |
$ (.45) |
$ (0.47) |
| Available to common stockholders |
$ (.45) |
$ (0.47) |
| Shares used in calculation of loss per
share: |
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| Basic and diluted |
11,135,193 |
4,106,277 |
| Pro forma basic and diluted |
11,135,193 |
7,361,962 |
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