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| Online Resources Reports 169 Percent Increase in End Users For the Second Quarter 2000 |
ONLINE RESOURCES CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED)
| |
THREE MONTHS ENDED
JUNE 30, |
SIX MONTHS ENDED
JUNE 30, |
| |
2000 |
1999 |
2000 |
1999 |
| Revenues:
Service fees |
$2,865,471 |
$1,479,284 |
$5,182,286 |
$2,624,912 |
| Implementation
and other revenues |
805,851 |
500,297 |
1,635,710 |
858,365 |
| Total revenues |
3,671,322 |
1,979,581 |
6,817,996 |
3,483,277 |
| Expenses:
Cost of revenues |
3,229,181 |
2,099,272 |
6,327,734 |
4,005,188 |
| Gross profit(loss) |
442,141 |
(119,691) |
490,262 |
(521,911) |
| General &
administrative |
1,501,391 |
757,640 |
3,163,708 |
1,552,814 |
| Selling and
marketing |
2,162,027 |
1,229,147 |
4,428,841 |
2,212,428 |
| Systems and
development |
1,684,762 |
945,903 |
3,111,715 |
1,850,258 |
| Total Expenses |
5,348,180 |
2,932,690 |
10,704,264 |
5,615,500 |
| Loss from
operations |
(4,906,039) |
(3,052,381) |
(10,214,002) |
(6,137,411) |
| Other income(expense) |
216,739 |
(295,955) |
489,043 |
(695,947) |
| Loss before extraordinary
loss |
(4,689,300) |
(3,348,336) |
(9,724,959) |
(6,833,358) |
| Extraordinary debt
extinguishments loss |
-- |
(885,407) |
-- |
(885,407) |
| Net loss |
(4,689,300) |
(4,233,743) |
(9,724,959) |
(7,718,765) |
| Preferred stock
accretion |
-- |
(970,532) |
-- |
(2,236,716) |
| Beneficial return on
preferred shares |
-- |
-- |
-- |
(2,668,109) |
| Net loss available
to common
stockholders |
$(4,689,300) |
$(5,204,275) |
$(9,724,959) |
$(12,623,590) |
| Basic and diluted loss per share: |
|
Operations |
$(0.43) |
$(0.50) |
$(0.90) |
$(1.21) |
| Before extraordinary
net loss |
(0.41) |
(0.71) |
(0.86) |
(2.31) |
| Extraordinary loss |
-- |
(0.15) |
-- |
(0.17) |
| Available to common
stockholders |
(0.41) |
(0.86) |
(0.86) |
(2.48) |
| Pro forma basic and diluted loss per share: |
|
Operations |
$(0.43) |
$(0.35) |
$(0.90) |
$(0.77) |
| Before extraordinary
net loss |
(0.41) |
(0.50) |
(0.86) |
(1.47) |
| Extraordinary loss |
-- |
(0.10) |
-- |
(0.11) |
| Available to common
stockholders |
(0.41) |
(0.60) |
(0.86) |
(1.58) |
| Shares used in calculation of loss per share: |
|
Basic and
diluted |
11,541,131 |
6,076,225 |
11,338,162 |
5,080,538 |
| Pro forma basic
and diluted |
11,541,131 |
8,615,999 |
11,338,162 |
7,982,313 |
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